Do not trust
34 out of 100 · 96% checked
Our investigation found it is likely a scam, and its client terms carry high risk, with 7 critical clauses.
We checked Alpari on 2026-10-30 across its company record, client terms, trading offer and service, and could verify 96% of its record. The score of 34 is what the checked record adds up to; nothing held it down. What would move the score: instrument breadth, wikilix community. Our published investigation found it is likely a scam, with 24 years of track record. Its client terms carry high risk, with 7 critical clauses. Trading EURUSD costs about 2.2 pips all-in, spread and commission together.
Score last calculated 2026/10/30
Wikilix independent safety report
Alpari is a real, working broker and not a fake website, but we rate it high risk at 70 percent. The company that holds client money today is a 2023 Comoros entity with no meaningful supervision, fou…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
What Wikilix has recorded about Alpari: its history, the licences it holds, its trading conditions and its fees.
Alpari is a retail forex and CFD brand operated by Parlance Trading Ltd, a company registered in the Comoros Union under number HY00423015 with a registered address on Bonovo Road, Fomboni, on the island of Moheli. The brand has been active in retail forex and CFDs for more than two decades and offers currency pairs, metals, indices, commodities, cryptocurrencies and share CFDs through MetaTrader 4 and MetaTrader 5. A live account can be opened from $30, and the highest advertised leverage reaches 1:3000. The record for this operator shows no confirmed financial regulation covering clients of , which is the most important thing to weigh before funding an account.
Alpari does not accept residents of the United States, Canada, Japan, the European Union or the United Kingdom, among other jurisdictions. Its own onboarding instead publishes dedicated registration routes for Russia, Iran, Uzbekistan, Kazakhstan and the other CIS markets, served by separate regional sites including , a Russian language site and a Persian language site. The brand is best understood as aimed at those markets rather than at Western Europe or North America.
Alpari holds no authorisation from a major onshore financial regulator. The brokerage authorisation associated with the operating company, number T2023236, was issued by the Mwali International Services Authority on the autonomous Comoros island of Moheli, which licenses the company as an international brokerage and clearing house. That body registers offshore brokerage licences rather than supervising firms as a mainstream regulator does, and the term recorded against this authorisation ran from April 2023 to April 2025.
A second entry, a Belarusian forex authorisation numbered 192637625 associated with the National Bank of the Republic of Belarus, is recorded against Alpari Evrasia Limited Liability Company. That is a separate company within the group, so the authorisation does not extend to clients trading through alpari.com.
No. There is no confirmed financial regulation protecting clients of alpari.com. The only authorisation tied to the operating company is an offshore Comoros registration whose recorded term has passed its end date, and the Belarusian entry belongs to a different legal entity. In practice this means trading without the safeguards an onshore licence normally brings: no compensation scheme, no statutory ombudsman and no supervised obligation to hold client money separately from company funds.
The company behind this website is Parlance Trading Ltd, registered in the Comoros Union under number HY00423015. The same operation is also presented under the name Alpari (Comoros) Ltd, so anyone opening an account should check which entity is named as counterparty in the documents they sign. Corporate registration of this kind confirms only that a company exists on a register. It is not financial regulation and carries no client protection of its own.
Alpari is a long-established brand with a broad product range and mainstream platforms, but it is not a supervised broker in any sense that protects client money. The absence of confirmed oversight, an offshore operating entity, an authorisation whose recorded term has expired and a second authorisation belonging to a different group company together mean that deposits rest on the company's own conduct rather than on a regulator or a compensation scheme. Any dispute would be a matter to settle with the company directly, with no supervisor to appeal to.
Four live tiers are offered, separated mainly by entry deposit, leverage and how trading costs are charged:
Swap-free accounts are available for traders who need them.
Spreads are variable rather than fixed. The Micro, Standard and ECN tiers are all advertised commission free, with the cost carried in the spread, and Pro ECN is the only tier that charges a separate commission. On Pro ECN the published rates are $2.50 per lot on forex, $18 per million of notional traded on metals, $25 per million on indices and commodities, 0.03% of notional on cryptocurrency, $0.02 per side per lot on share CFDs and $0.01 per side per lot on ETF CFDs. There are two smaller charges: deposits below $30 attract a $3 fee, and bank transfer withdrawals carry a 30 EUR fee.
Maximum leverage is 1:3000 on the ECN and Pro ECN tiers, 1:1000 on Standard and 1:500 on Micro. These levels sit far above what onshore regulators permit, and they magnify losses as readily as gains.
Trading is on the MetaTrader platforms. MetaTrader 4 is available on every live tier, with Windows, macOS, iOS, Android and browser access, and supports MQL4 strategies, VPS hosting and multi-account management. MetaTrader 5 is offered on the Standard and Pro ECN tiers and is the only platform carrying the share CFD and ETF CFD instruments. Client access and account opening run through the broker's own trading portal at .
Funding is available by card, bank transfer, e-wallet, cryptocurrency and regional local-currency providers, with FasaPay, ADVcash, Perfect Money and TC Pay among the e-wallet options. Card and local-currency deposits are credited immediately and cryptocurrency within about an hour, while bank transfers take up to five business days. The general minimum withdrawal is $30, falling to $10 for cryptocurrency, which is capped at $50,000 per withdrawal. Two policies matter more than the fees: a withdrawal must return to the same method used to deposit until that deposit is cleared in full, and the receiving account must be in the client's own name.
Support is offered by telephone on +44 2045 771 951 and by live chat during business hours, against a stated response target of 24 hours. Service is provided in English, Russian, Farsi and Uzbek, with a separate Uzbekistan telephone line, and the broker also maintains a and a Telegram channel.
Strengths:
Limitations:
Alpari offers a conventional retail package: MetaTrader on every device, a $30 entry point, four account tiers and a broad funding menu, aimed largely at Russian speaking and Middle Eastern markets. What it does not offer is regulatory protection. The operating company is a Comoros registration, the offshore authorisation recorded against it has passed its expiry date, and the Belarusian entry sits with a separate group company, so a client of alpari.com is covered by neither. The decisive consideration before funding an account is that any dispute would rest between the client and the company, with no supervisor or compensation scheme standing behind the money.
Alpari's typical spread on EURUSD is 2.23 pips, measured on a real trading account. We read every price the broker sends and weight each spread by how long it actually held — across 10 instruments and 41.8M quotes so far.
Tap an instrument to add it to the chart. Hover the lines for the exact reading at that moment.
Above 3.50 pips the scale compresses, so one rollover window does not flatten the rest. The widest reading in view is 10.6 pips.
| Instrument | TypicalThe average spread, weighted by how long each one actually held rather than by how many quotes were sent. Read every 10 minutes. | UsualThe median: half the readings were tighter than this, half were wider. | Bad momentsThe 95th percentile — one reading in twenty was worse than this. | BestThe tightest reading recorded. | WorstThe widest reading recorded. Spreads usually widen at the daily rollover and around news. | QuotesHow many individual price updates from the broker these figures are built from. A bigger number means a steadier measurement. |
|---|---|---|---|---|---|---|
| EURUSDEURUSD_i | 2.23 pips | 2.26 | 2.35The 95th percentile — one reading in twenty was worse than this. Widest at Oct 18, 21:50 UTC. | 1.10Tightest at Sep 15, 12:20 UTC. | 16.1Widest at Oct 18, 21:50 UTC. | 3.3MFrom 7821 ten-minute windows that passed the completeness check. |
| GBPUSDGBPUSD_i | 2.52 pips | 2.60 | 2.69The 95th percentile — one reading in twenty was worse than this. Widest at Sep 14, 13:20 UTC. | 0.10Tightest at Sep 15, 11:30 UTC. | 22.9Widest at Sep 14, 13:20 UTC. | 4MFrom 7821 ten-minute windows that passed the completeness check. |
| USDJPYUSDJPY_i | 2.92 pips | 2.99 | 3.17The 95th percentile — one reading in twenty was worse than this. Widest at Oct 4, 21:20 UTC. | 0.40Tightest at Sep 8, 10:00 UTC. | 41.6Widest at Oct 4, 21:20 UTC. | 5.2MFrom 7821 ten-minute windows that passed the completeness check. |
| USDCHFUSDCHF_i | 2.28 pips | 2.50 | 2.70The 95th percentile — one reading in twenty was worse than this. Widest at Oct 11, 21:20 UTC. | 0.30Tightest at Oct 25, 16:10 UTC. | 33.0Widest at Oct 11, 21:20 UTC. | 2.4MFrom 7820 ten-minute windows that passed the completeness check. |
| USDCADUSDCAD_i | 2.93 pips | 3.00 | 3.18The 95th percentile — one reading in twenty was worse than this. Widest at Oct 8, 21:20 UTC. | 0.90Tightest at Oct 19, 18:10 UTC. | 23.8Widest at Oct 8, 21:20 UTC. | 3.2MFrom 7819 ten-minute windows that passed the completeness check. |
| AUDUSDAUDUSD_i | 1.95 pips | 2.00 | 2.25The 95th percentile — one reading in twenty was worse than this. Widest at Sep 20, 21:20 UTC. | 1.00Tightest at Sep 22, 04:00 UTC. | 21.3Widest at Sep 20, 21:20 UTC. | 2.4MFrom 7820 ten-minute windows that passed the completeness check. |
| NZDUSDNZDUSD_i | 2.13 pips | 2.24 | 2.35The 95th percentile — one reading in twenty was worse than this. Widest at Oct 26, 22:00 UTC. | 0.80Tightest at Sep 3, 15:00 UTC. | 20.0Widest at Oct 26, 22:00 UTC. | 2.2MFrom 7817 ten-minute windows that passed the completeness check. |
| EURGBPEURGBP_i | 2.83 pips | 3.03 | 3.08The 95th percentile — one reading in twenty was worse than this. Widest at Sep 18, 13:20 UTC. | 0.20Tightest at Sep 5, 11:30 UTC. | 11.4Widest at Sep 18, 13:20 UTC. | 2.3MFrom 7821 ten-minute windows that passed the completeness check. |
| EURJPYEURJPY_i | 5.42 pips | 5.30 | 5.39The 95th percentile — one reading in twenty was worse than this. Widest at Oct 4, 21:20 UTC. | 0.10Tightest at Sep 7, 13:20 UTC. | 33.1Widest at Oct 4, 21:20 UTC. | 6.5MFrom 7821 ten-minute windows that passed the completeness check. |
| XAUUSDXAUUSD_i | 40.4 points | 40.4 | 40.7The 95th percentile — one reading in twenty was worse than this. Widest at Sep 9, 12:40 UTC. | 33.0Tightest at Sep 8, 09:20 UTC. | 120.0Widest at Sep 9, 12:40 UTC. | 10.3MFrom 7592 ten-minute windows that passed the completeness check. |
8 full-page captures of Alpari's own site, archived so what they said can still be read after the pages change.
We have not confirmed any regulation for Alpari. Money deposited with an unregulated broker is protected only by the company itself.
Trading with an unregulated broker puts your deposit at risk.
We have not confirmed any regulation for Alpari. An unregulated broker is not supervised by a financial authority, and money you deposit is protected only by the company itself.
What this means for you
4 account types on record. Minimum deposit from USD 30. Leverage up to 1:3000.
| Account | Min Deposit | Max Leverage | Commission |
|---|---|---|---|
| MicroMicro · Cent | USD 30 | 1:500 | No commission |
| StandardStandard | USD 100 | 1:1000 | Zero commission |
| ECNECN | USD 300 | 1:3000 | None |
| Pro ECNPro ECN · ECN | USD 500 | 1:3000 | Forex: $2.5 per lot; Metals: $18 per mil notional; Indices, Commodities, Gold Index and Crosses CFDs: $25 per mil notional; Crypto: 0.03% notional; Stock CFDs: $0.02 per side/lot; UAE Stock CFDs: 0.04% notional; ETF CFDs: $0.01 per side/lot |
Where Alpari says it will and won't take clients
Confirmed blocked
Named in the broker's own terms
Likely blocked
Reported, not verified against a primary source
Explicitly accepted
Named as accepted — not a full list of served markets
5 ways to fund an account. One with no deposit fee. 2 credit instantly.
| Method | Deposit fee | Withdrawal fee | Min deposit | Withdrawal min / max | Processing |
|---|---|---|---|---|---|
Bank TransfersBank TransferDeposits below $30 incur a $3 fee. Withdrawals must match the registered account holder. | Not recorded | EUR 30 | Not recorded | USD 30Not recorded | Up to 5 days |
Credit/Debit CardsCredit CardDeposits below $30 incur a $3 fee. Withdrawals must match the registered account holder. Closed loop policy: card deposits must be withdrawn to the same card until cleared in full. Cards require verification. | Not recorded | Not recorded | Not recorded | USD 30Not recorded | Instant |
CryptocurrencyCryptocurrencyDeposits below $30 incur a $3 fee. Withdrawals must match the registered account holder. Standard blockchain fees apply. Closed loop policy: crypto deposits must be withdrawn via crypto until cleared in full. | Free | Free | USD 10 | USD 10USD 50,000 | Up to 1 hour |
E-walletsE-WalletDeposits below $30 incur a $3 fee. Withdrawals must match the registered account holder. The published fee table lists Perfect Money and TC Pay withdrawals as free. TC Pay needs a $10 test deposit first. | Not recorded | Not recorded | Not recorded | USD 30Not recorded | Up to 1 day |
Local payment methodsOtherDeposits are made by selecting Local Currency in the Funds section and completing payment on the provider's site. Available providers, limits and fees are shown after signing in. | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | Instant |
2 trading platforms on record: MetaTrader 5 and MetaTrader 4.
Alpari offers MetaTrader 5 for PC and Mac, with iOS and Android builds linked from its own MT5 page. MT5 runs on the Standard and Pro ECN accounts, and is the only platform carrying the Stock CFD and ETF CFD instruments.
Alpari offers MetaTrader 4 for PC and Mac, with iOS and Android builds and browser access linked from its own MT4 page. MT4 is the only platform offered on every live account tier, and supports MQL4 strategies, VPS and MAM.
10 domains on record. 6 active.
One legal entity behind the Alpari brand.
Alpari names Parlance Trading Ltd as the operating company. We could not confirm that registration on the registry.
3 other brokers on the record share what Alpari offers — its country, regulator, account types or platforms — set beside it on the same measures.
Common questions about Alpari
The general minimum withdrawal is $30, falling to $10 for cryptocurrency, which is also capped at $50,000 per withdrawal. Bank transfer withdrawals carry a 30 EUR fee, cryptocurrency withdrawals are free apart from the standard blockchain cost, and the published fee table lists Perfect Money and TC Pay withdrawals as free. Alpari publishes no withdrawal fee for cards or for its regional local-currency providers. Two conditions apply whatever the method: a withdrawal must return to the method used for the deposit until that deposit is cleared in full, and the receiving account must be in the client's own name.
Alpari's own site states that the brand trades as Parlance Trading Ltd, a company registered in the Comoros Union under number HY00423015, at Bonovo Road, Fomboni, on the island of Moheli. The same entity is named on Alpari's Persian language site. That is a company registration and not a financial licence, and it is the broker's own statement rather than a detail confirmed against the Comoros corporate registry.
Forex pairs, metals, indices, commodities and cryptocurrencies, plus share and ETF CFDs. The share and ETF CFDs sit on MetaTrader 5 only, and the Pro ECN account is the tier that prices them, at $0.02 per side per lot on shares and $0.01 per side per lot on ETFs. Alpari does not publish a total symbol count on its account pages, so the number of instruments in each class is not stated.
English, Russian, Farsi and Uzbek. Alpari offers customer support in those four languages and runs a searchable alongside its written and telephone channels. Uzbek speakers have a dedicated local line on +99 8712 055 648 in addition to the main international number on +44 2045 771 951. Alpari does not publish separate support hours for any individual language.
Alpari's own guidance is that its staff will never approach clients through personal social media profiles to ask for account details or to promise cashback or prizes, and that its only official social channels are the ones linked in the footer of its website. Anything arriving from a page or channel that is not listed there should be reported to the broker. Alpari also asks clients never to share their personal or account details with anyone, and notes that clients keep direct control of deposits, withdrawals and platform downloads through their own profile.
Withdrawal requests can be submitted at any time, including nights, weekends and holidays, from the funds and withdrawal section of the Alpari profile. Before a request will go through, the account must be approved with documents up to date and the specific payment method must be verified, and the closed loop rule can force the money back out through whichever method funded it. Alpari does not publish a processing time for withdrawals on its help pages, so how long the money takes to arrive is not stated.
Yes. Alpari calls it a practice account: it is free, funded with virtual money and requires no deposit. Practice accounts are created from the Alpari profile, default to US dollars with 1:500 leverage that cannot be changed, and you can hold up to ten at a time. A practice account is closed automatically after 14 consecutive days without use.
Yes, though it is a setting rather than a separate account type. Swap-free trading is switched on in the Alpari profile under general settings and then swaps, and once activated it applies to every trading account under that profile. You must have no open positions when toggling it and the preference can only be changed once every 24 hours. Where the option does not appear, Alpari asks clients to request it through the contact form.
Alpari's published disclaimer names the USA, Japan, Canada, the Democratic Republic of Korea, the European Union, the United Kingdom, Myanmar, India, Azerbaijan, Syria, Sudan and Cuba. Its own account opening system refuses a wider set than that text implies: every EU member state individually, and also Iceland, Liechtenstein, Norway, Western Sahara, South Sudan and the United States Minor Outlying Islands. India is the one unresolved case, because the disclaimer names it while the registration form still accepts Indian residents. Alpari does onboard clients across much of the CIS, and routes Iranian residents to its Persian language site.
Commission is charged on the Pro ECN account only; the Micro, Standard and ECN accounts are commission free and priced through the spread. On Pro ECN, Alpari publishes $2.50 per lot on forex ($5 round turn), $18 per million notional on spot metals, $25 per million on index and commodity CFDs, 0.03% of notional on crypto CFDs, and $0.02 per side per lot on stock CFDs. Alpari states that US cash equity stock trading carries no commission, though dividend tax and a fee for live stock pricing may still apply.
Alpari's lowest entry point is $/€30, which applies to the Micro account. The published minimums rise with the tier: Micro $/€30, Standard $/€100, ECN $/€300 and Pro ECN $/€500. Alpari also notes that individual payment methods carry their own minimums, so the amount you actually need to fund an account may be higher than the tier figure.
Alpari offers a searchable , a contact form, a live chat widget available during business hours, a Telegram bot and a telephone helpline on +44 2045 771 951, with a separate Uzbekistan line on +99 8712 055 648. The contact form is the main written channel and Alpari states a response target of 24 hours. Requests can be filed as a customer service, partnership or claims enquiry.
Up to 1:3000, on the ECN and Pro ECN accounts. The lower tiers cap further down, at 1:1000 on Standard and 1:500 on Micro. Alpari applies floating leverage from 1:100 upwards, meaning the leverage available falls as the notional value of your open positions rises, so the headline figure only applies to smaller positions.
Alpari funds accounts by payment card, bank transfer, cryptocurrency, e-wallet and regional local-currency providers, with the e-wallet options including FasaPay, ADVcash, Perfect Money and TC Pay. Card and local-currency deposits are credited immediately and cryptocurrency within about an hour, while bank transfers take up to five business days and carry a 30 EUR withdrawal fee. Withdrawals follow a closed loop policy: where a deposit was made by card or crypto, you must withdraw by that same route until the deposited amount is cleared in full, and the receiving account must be in your own name. The general minimum withdrawal is $30, falling to $10 for cryptocurrency.
MetaTrader 4 and MetaTrader 5. MT4 is the one platform offered on every live account tier and runs on Windows, Mac, iOS, Android and in the browser, while MT5 is offered on the Standard and Pro ECN accounts for Windows, Mac, iOS and Android. MT5 is also the only platform carrying Alpari's share CFD and ETF CFD instruments, so the platform choice decides part of what you can trade.
No authority supervises Alpari in a way that protects clients of alpari.com. Alpari's own site states that the brand trades as Parlance Trading Ltd, a Comoros company registered under number HY00423015 and licensed by the Mwali International Services Authority as an International Brokerage and Clearing Company under number T2023236; the term recorded against that authorisation ran from April 2023 to April 2025. A separate Belarusian forex authorisation, number 192637625, is recorded against Alpari Evrasia Limited Liability Company, a different company within the group, so it does not extend to clients trading through alpari.com.
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