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Independent safety report

Is Alpari a scam?

Likely scamMEDIUM confidence
Unlicensed solicitation with withdrawal obstruction at an offshore shell

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, four regulators list the brand or the domain as unauthorised, and clients on two platforms describe the same failure: money going in and not coming back out.

  • The Reserve Bank of India names alpari.com on its Alert List of entities not authorised to deal in forex in India, updated 19 November 2025. The Bank of Russia warning list names both Alpari Limited and Parlance Trading Ltd and includes alpari.com, last updated 30 September 2026.
  • The only licence is MISA T2023236, issued by the registrar of the Comoros island of Moheli and held by Parlance Trading Ltd. It is confirmed in force and tied exclusively to alpari.com, but it carries no compensation scheme, no enforceable fund segregation and no practical complaints route.
  • Trustpilot has suspended the company score for a breach of its guidelines and removed reviews it judged to be fake. 145 of the 289 reviews are one star.
  • Clients on Trustpilot and Google Play describe one mechanism repeatedly: a withdrawal requested and not received (one case shown as successful and still unpaid after 45 days), withdrawal channels switched off as under maintenance, and profits cancelled under a contract clause before payout.
  • The Alpari brand dates to 1998 and the domain to 2002, but the regulated companies that carried that history are gone, and the business was moved to this Comoros entity in mid-2025 with no announcement to clients.

Safety verdict

High risk
70%Scam risk
2.0/5Safety rating 2 out of 5
Wikilix safety rating
medium
Confidence
At a glance
Proof of regulationFound
Clone of another firmNo
TypeUnlicensed solicitation with withdrawal obstruction at an offshore shell
Evidence items22

Risk scorecard

Each area is scored 0 (clean) to 10 (worst). Higher means more risk.

Worst area: High
SeverityLowModerateHighCritical

Regulation

7/10 · High

One genuine but near-worthless Comoros licence, confirmed in force and exclusively its own, set against current unauthorised listings from the Reserve Bank of India and the Bank of Russia and warnings from the FCA, CNMV and Malaysia's SC. The real licence caps this below the top of the scale.

Identity & transparency

5/10 · Moderate

Entity, registration number, licence and address are disclosed consistently on the site, in the client agreement and on the licence record, with no clone or borrowed credentials. Against that, ownership is undisclosed, the 2025 transfer out of the Exinity group was unannounced, and the registrar on Moheli publishes no openly accessible company search.

Withdrawals & conduct

7/10 · High

A fund-integrity pattern meeting all four tests: the same failure, clustered December 2025 to September 2026, from different users on Trustpilot and Google Play, with account references, amounts and a 45-day unpaid withdrawal. Held below the top band because credible successful-payout reports exist and the company answers complaints publicly.

Reputation

7/10 · High

Trustpilot has suspended the score for a guidelines breach and removed reviews it judged fake, with 145 of 289 reviews at one star, alongside four regulator alert listings. Mitigated by 3.9 stars across more than 800 app ratings, over 500,000 installs and a brand with genuine standing.

Website claims

6/10 · High

The MISA licence is disclosed accurately with its number, and no tier-one licence is claimed. But over 25 years of experience, more than 1 million clients and a 1998 copyright line are advertised by a 2023 Comoros entity, the app describes the firm as regulated in various jurisdictions when it holds one licence, and the stated exclusion of India does not match the client base.

Operational history

6/10 · High

Genuine continuity of brand and domain since 1998 and 2002, which counts in its favour, but the counterparty dates to 2023 and the lineage includes the 2015 special administration of Alpari (UK), the 2019 annulment of the Russian dealer licence and the closure of the Belize arm. The continuity that protected clients has been broken recently.

Who they are

A quick desk file on the company behind the brand.

  • Brand: Alpari, founded in December 1998 in Kazan, Russia by Andrey Dashin, who remains the brand owner.
  • Legal entity: Parlance Trading Ltd, trading as Alpari. It is the sole contracting party in the client agreement.
  • Registered: number HY00423015, Bonovo Road, Fomboni, Island of Moheli, Comoros Union.
  • Website: alpari.com (registered October 2002), with a Persian-language site at alpariforexfa.org and the trading platform at trade.alpari.com.
  • Only licence: Mwali International Services Authority, International Brokerage and Clearing Company licence T2023236, effective 12 April 2023.
  • Offers: forex, metals, commodities, indices, stocks and crypto CFDs on MT4, MT5 and its own app (500,000 plus installs on Google Play).
  • Not accepted: residents of the USA, Japan, Canada, the Democratic Republic of Korea, the European Union, the United Kingdom, Myanmar, India, Azerbaijan, Syria, Sudan and Cuba, per its own footer.
  • Age claim: over 25 years of experience and more than 1 million clients worldwide, with a 1998 to 2026 copyright line.
  • Contact: a UK helpline number, +44 2045 771 951, published by a Comoros entity that states it does not serve the United Kingdom.
Alpari's own company page naming Parlance Trading Ltd, registration number HY00423015 and MISA licence T2023236
Alpari home page footer giving the Moheli registered address, the MISA licence number and the list of countries it states it does not serve
Persian-language Alpari site carrying the same Parlance Trading Ltd footer, registration HY00423015 and licence T2023236 as the main domain

Regulation

Who really oversees this broker, and what each licence is worth to you.

Proof found

Proof of regulation on an official register: Yes

We confirmed this broker on a genuine regulator’s register.

Licences the broker publishes

Mwali International Services Authority

VerifiedTier 4Limited relevance
An International Brokerage and Clearing Company licence issued by the registrar of the autonomous Comoros island of Moheli. MISA is a registrar rather than a functioning supervisor, the Central Bank of the Comoros has publicly disavowed these licences, and the licence record itself notes the framework is light touch. It permits forex, futures, derivatives and options trading on paper, and is assigned exclusively to the Alpari brand and alpari.com.
Protection: Effectively none. No compensation scheme, no client-money rules a client can enforce, no ombudsman and no practical complaints route. Disputes fall under the laws of Comoros.
Found by our investigation (1) — the broker does not list these on its own site

National Bank of the Republic of Belarus

Found by us — not listed by the broker

UnverifiedTier 3
A Belarusian retail forex licence recorded against Alpari Evrasia Limited Liability Company of Minsk, contactable at alpari.by. That is a separate company from Parlance Trading Ltd, and the licence does not cover alpari.com. The broker does not advertise it on its own site, and it appears against the Alpari name only through third-party records.
Protection: Not applicable to clients of this operation, because the licence is held by a different company
Reserve Bank of India Alert List, updated 19 November 2025, with entry 1 reading Alpari and https://alpari.com as an entity not authorised to deal in forex in India
Bank of Russia warning list entry headed Alpari Limited, Parlance Trading Ltd, citing signs of illegal professional securities market participant activity
Spanish CNMV warning naming HTTPS://ALPARI.COM/ES/ as an unregistered entity offering financial products or services, published December 2021
FCA register search for Alpari returning two firms, Alpari (UK) Ltd reference 448002 and Alpari Financial Services Ltd reference 555971, both no longer authorised

Why we reached this verdict

How the evidence adds up.

Four separate authorities have published findings against this brand, the domain or the entity, and the complaint record shows a specific, repeating failure around getting money out. Together those outweigh the one thing in the broker's favour, which is that its licence is genuine and its own.

  • A current central-bank listing naming the exact domain. The Reserve Bank of India's Alert List, updated 19 November 2025, carries the entry 'Alpari, https://alpari.com' as an entity neither authorised to deal in forex under FEMA nor authorised to operate an electronic trading platform in India.
  • A current warning naming the operating company itself. The Bank of Russia warning list entry, added 1 June 2021 and updated 30 September 2026, is headed 'Alpari Limited, Parlance Trading Ltd' and cites signs of illegal professional securities market participant activity. Parlance Trading Ltd is the company named in Alpari's own client agreement.
  • Two more regulators. Spain's CNMV published a warning naming https://alpari.com/es/ in December 2021, and the FCA published a warning against Alpari Limited in March 2022. On the FCA register, the two historic Alpari companies, Alpari (UK) Ltd (reference 448002) and Alpari Financial Services Ltd (reference 555971), are both recorded as no longer authorised. Malaysia's Securities Commission listed the brand in May 2024 for dealing in securities and derivatives without a licence.
  • A fund-access pattern that meets all four tests. The reports describe the same mechanism, they cluster between December 2025 and September 2026, they come from different users on two independent platforms, and they are checkable. Examples include an account reference quoted with a withdrawal unpaid for three weeks and the withdrawal button removed, withdrawal options described as under maintenance in January 2026, a Google Play report of a withdrawal shown as successful and still not credited on day 45, and profits cancelled in September 2026 under a clause of the client agreement before the client could withdraw.
  • Review manipulation confirmed by the platform. Trustpilot states the company rating is unavailable due to a breach of its guidelines and that it removed a number of fake reviews. Prospective clients are being shown a managed picture, which is itself a form of deception.
  • The protection that mattered has been removed. The brand's regulated arms are gone: Alpari (UK) went into special administration in January 2015 after the Swiss franc move, and the Bank of Russia annulled Alpari Forex LLC's dealer licence with effect from 27 January 2019 for repeated violations of securities law. The business then sat under the Exinity group, and in mid-2025 the brand and domain were moved to this Comoros company without a public announcement. Alpari also withdrew from the Financial Commission in early 2024, closing the last external route for a client dispute.
  • A contract written for the firm. The client agreement is governed by the laws of Comoros and reserves the right, at the company's sole discretion, to refuse or cancel account subscriptions without prior notice or explanation.
  • Stated country exclusions do not match the client base. The footer says Alpari does not serve residents of India, yet clients posting from India through 2026 describe funding accounts and asking for withdrawals through UPI and local bank transfer.

How the figure is reached. The six scored dimensions give a weighted average of 6.6, or 66 percent, with regulation, identity and the fund-integrity complaint pattern double weighted. One regulator finding of this weight alongside several strong findings sets a floor of 70, so 70 percent is what we publish. Two notes on its limits: MISA publishes no openly accessible licence search, so the licence's current term cannot be checked against the issuer's own record, and the registrar of companies on Moheli publishes no openly accessible company search, so the operating entity could not be dated against a registry. The track record figure therefore rests on the domain, which makes it an upper bound: the brand and the domain go back more than twenty years, but the company a client actually contracts with dates to 2023.

Evidence ledger

Every finding, with its source and how strongly it points.

14 against4 in favour
  • E1The Reserve Bank of India Alert List, updated 19 November 2025, carries as entry 1: Alpari, https://alpari.com. The list covers entities neither authorised to deal in forex under FEMA nor authorised to operate an electronic trading platform for forex in India. This names the exact domain under investigation.

  • E2The Bank of Russia warning list entry is headed Alpari Limited, Parlance Trading Ltd and cites signs of illegal professional securities market participant activity. alpari.com appears among the websites listed. Added 1 June 2021, last updated 30 September 2026. It names both the operating company in the client agreement and the main domain.

  • E3Spain's CNMV published a warning naming HTTPS://ALPARI.COM/ES/ under the category of an unregistered or unlicensed entity offering financial products or services, published 27 December 2021, with Alpari Limited recorded as the entity. The named address is one of this broker's own language paths.

  • E4The FCA published a warning against Alpari Limited on 11 March 2022 under the category of an unregistered or unlicensed entity offering financial products or services. The entry records no website, so it ties to the entity name rather than to a specific domain.

  • E5Malaysia's Securities Commission listed Alpari International and Alpari Trading Malaysia on 7 May 2024 for carrying on capital market activities of dealing in securities and derivatives without a licence. Brand level, with no entity or domain recorded.

  • E6A search of the FCA register for Alpari returns two firms and both are recorded as no longer authorised: Alpari (UK) Ltd, reference 448002, London, also known as AlpariFX, and Alpari Financial Services Ltd, reference 555971, Limassol. No Alpari entity holds a current UK authorisation.

  • E7The broker's own footer and company page state: Alpari, the trading name of Parlance Trading Ltd, Bonovo Road, Fomboni, Island of Moheli, Comoros Union, incorporated under registered number HY00423015 and licensed by the Mwali International Services Authority as an International Brokerage and Clearing Company under number T2023236.

  • E8The licence record for MISA T2023236 shows it active, effective 12 April 2023, licensed entity Parlance Trading Ltd, jurisdiction Comoros, assigned exclusively to the Alpari brand and the website alpari.com, and permitting forex, futures, derivatives and options trading. The record itself notes the licence operates under a light-touch regulatory framework. MISA publishes no openly accessible licence search, so the current term cannot be checked against the issuer's own record.

    ModerateLicence record for MISA licence T2023236
  • E9Trustpilot states that the company rating is unavailable due to a breach of its guidelines and that it removed a number of fake reviews for this company. The distribution over 289 reviews is 63 five star, 16 four star, 39 three star, 26 two star and 145 one star, with 84 reviews in the last twelve months.

  • E10Fund-access reports with transactional detail: 18 March 2026, no withdrawal for three weeks with the withdrawal button removed and account reference ID17238583 quoted; 19 January 2026, funds stuck with all withdrawal options shown as under maintenance; 14 December 2025, a bank withdrawal still not received after a week; 17 September 2026, profits confiscated under a clause of the client agreement before withdrawal; 22 September 2026, the company told the client the funds will not be returned.

  • E11On Google Play the same failure appears from different users: 6 August 2026, a withdrawal that the platform showed as successful and which had not reached the client's account on day 45; 7 September 2026, withdrawal described as very difficult with money lost. The company replied to both asking for account and withdrawal references. The app holds 3.9 stars across 837 ratings with more than 500,000 installs, published as Alpari Group.

  • E12The client agreement names Parlance Trading Ltd as the sole contracting entity, is governed by the laws of Comoros, and states that the company is entitled, at its sole discretion, to refuse to provide the subscription for a trading account or all trading accounts, and may cancel a previously provided subscription without prior notice or explanation of reasons.

  • E13The live footer states that Alpari does not provide services to residents of the USA, Japan, Canada, the Democratic Republic of Korea, the European Union, the United Kingdom, Myanmar, India, Azerbaijan, Syria, Sudan and Cuba, while publishing a UK helpline number. Indian clients posting in 2026 describe funding accounts and asking for withdrawals through UPI and local bank transfer, so the stated exclusion of India does not match the client base.

  • E14alpari.com was registered on 16 October 2002 through Name.com and runs on Cloudflare nameservers, giving the domain twenty four years of history under this brand. The domain is not a recent registration or a drop-catch.

  • E15alpariforexfa.org was registered on 27 March 2023, two weeks before the MISA licence took effect, with the same registrar and nameserver provider as the main site. The Persian-language site is a localised copy of alpari.com and carries the same footer naming Parlance Trading Ltd, registration HY00423015 and licence T2023236.

  • E16The brand was founded in December 1998 in Kazan by Andrey Dashin, who remains the brand owner. It ran a UK regulated arm from 2004 to 2015 and a US arm from 2006 to 2015; Alpari (UK) announced insolvency on 16 January 2015 after the Swiss franc move and special administrators were appointed on 19 January 2015. The Bank of Russia annulled the licence of Alpari Forex LLC with effect from 27 January 2019 for repeated violations of securities law. The Belize arm closed in 2018 with clients moved to a Saint Vincent entity, and from 2020 operations ran under the Exinity umbrella.

  • E17Trade press reporting establishes that the Alpari brand and trademark were moved out of the Exinity group to Parlance Trading Ltd around mid-2025, quietly and without a formal announcement, keeping the same MISA licence and registered address, with senior executive departures through 2024 and 2025 and no comment from Exinity. Alpari and FXTM had also withdrawn from the Financial Commission in early 2024.

  • E18The site advertises over 25 years of experience, more than a quarter century of experience, more than 1 million clients worldwide, a 1998 to 2026 copyright line and a set of 2024 industry awards including Most Trusted Forex Broker, while the company a client contracts with holds a licence dated April 2023. The app listing adds that Alpari is authorized and regulated in various jurisdictions, when one licence is held.

  • E19A client funding through the Persian-language site reported in December 2025 that three TRC20 USDT transfers to the receiving address shown in the platform were never credited, published the sending and receiving addresses and all three transaction hashes, and said account access was then restricted. The company replied that the hashes did not correspond to any of its records. The dispute remains unresolved in public.

  • E20The Belarus retail forex licence 192637625 that is sometimes attached to the Alpari name is recorded against Alpari Evrasia Limited Liability Company of Minsk, contactable at alpari.by, a separate company from Parlance Trading Ltd. It does not cover alpari.com and the broker does not advertise it on its own site.

    ModerateLicence record for Belarus forex licence 192637625
  • E21A sweep of the IOSCO alert network, which aggregates submissions from more than 150 regulators, returns four listings for Alpari and no enforcement action or prosecution. We found no fraud-related court record naming Parlance Trading Ltd or alpari.com, and no regulator alleging misappropriation of client funds.

  • E22Positive reports with real detail also exist: a November 2025 review describes crypto stablecoin funding as simple and reliable with withdrawals completing after about 24 hours, and a July 2026 review describes funding and withdrawal as easy and convenient. 63 of 289 Trustpilot reviews are five star, and the company replies publicly to complaints and asks for account numbers and withdrawal references.

Google Play listing for the Alpari app, 3.9 stars across 837 ratings, with client reports of a withdrawal shown as successful and unpaid after 45 days
Alpari client agreement naming Parlance Trading Ltd as the sole contracting entity under the laws of Comoros

The other side

The strongest case in this broker’s favour.

The case for Alpari deserves a fair hearing, and several points in its favour are real.

  • The licence is genuine and it is Alpari's own. MISA licence T2023236 is on record as active, names Parlance Trading Ltd as the licensed entity, and is tied exclusively to alpari.com. There is no borrowed licence number, no impersonation of a regulated firm and no fabricated regulator. This is not a clone.
  • Withdrawals do work for many clients. Specific positive reports describe crypto withdrawals completing within about 24 hours and funding and withdrawal being straightforward. 63 of the 289 Trustpilot reviews are five star, and the app holds 3.9 stars across more than 800 ratings with over 500,000 installs. This is not an operation where nobody gets paid.
  • The company is reachable and answers in public. It replies to complaints on both Trustpilot and Google Play, asks for account numbers and withdrawal references, and points clients to a support channel. Operations that have taken the money and gone do not do that.
  • The alert listings are about permission, not theft. The Indian list that names alpari.com also names eToro, Exness, Forex.com, Ava Trade and FTMO. A listing of this type establishes that a firm is not licensed in that country, which matters a great deal for recourse, but it is not a regulator finding of fraud.
  • Country exclusions suggest some compliance effort. The site excludes the United States, the European Union, the United Kingdom, Japan, Canada and others, which is consistent with staying inside the scope of what it holds rather than pushing into tier-one markets.
  • The history is real. The 1998 founding, the 2002 domain, the West Ham shirt sponsorship and the former FCA and NFA regulated arms are all documented. The brand is not an invention of 2023, and the founder remains the brand owner.
  • No regulator or court has found fraud. A sweep of the IOSCO alert network, which aggregates submissions from more than 150 regulators, returned four listings and no enforcement action, and we found no fraud-related court record naming Parlance Trading Ltd or alpari.com.

What would change this

What we would need to see to revise the verdict.

This verdict is evidence based and would move on new evidence. Concretely:

  • Towards a lower risk rating: a licence from a tier-one or tier-two regulator (for example the FCA, CySEC, ASIC or the FSCA) held by the same company that takes client deposits, verifiable on that regulator's own register against alpari.com.
  • Removal of alpari.com from the Reserve Bank of India Alert List and of Parlance Trading Ltd from the Bank of Russia warning list.
  • Restoration of the Trustpilot score, which would mean the platform is satisfied the review manipulation has stopped.
  • A clean twelve-month complaint record on withdrawals across Trustpilot, Google Play and the trading forums, with the December 2025 to September 2026 cases shown as paid.
  • Membership of an external dispute-resolution body with a published, enforceable award process, replacing what was given up in early 2024.
  • A clear statement on the site of who owns Parlance Trading Ltd, when it was incorporated, where client funds are held and with which bank, and an honest note that the pre-2023 regulated history belongs to companies that no longer operate the business.
  • Towards a worse rating: a regulator naming alpari.com in connection with client funds rather than licensing, an enforcement action or court filing against Parlance Trading Ltd, a credible report of a demand for an extra payment such as a tax or release fee before funds are paid out, or a sudden cluster of unpaid withdrawals pointing to an exit.

Frequently asked questions

Quick answers about this broker’s safety.

14 questions
Is Alpari a scam?

We rate it likely a scam at 70 percent, which is a judgement about risk rather than a finding of a crime. Alpari is a real broker with a real platform and a real licence, and some clients are paid without trouble. But four regulators list the brand, the domain or the company as unauthorised, the only licence gives clients no protection, and there is a documented pattern across two platforms of withdrawals that are not paid. On that balance we would not put money in.

Is Alpari a fraud?

No regulator or court has found fraud against Alpari or Parlance Trading Ltd, and we found no fraud-related court record naming either. What regulators have actually said is narrower: the Reserve Bank of India and the Bank of Russia list it as not authorised in their countries, and the FCA and Spain's CNMV published the same kind of warning. Separately, clients report deposits accepted and withdrawals then refused or left unpaid. On that evidence we assess the risk of losing money here as high.

Is Alpari regulated?

It holds one licence: number T2023236 from the Mwali International Services Authority, the registrar of the Comoros island of Moheli, effective 12 April 2023 and held by Parlance Trading Ltd. That licence is listed and in force. It is the weakest category of licence in the industry, the Central Bank of the Comoros has publicly disavowed these licences, and the licence record itself describes the framework as light touch.

Can I withdraw my money from Alpari?

Many clients do, some within about 24 hours on crypto. But a clear group do not. Reports between December 2025 and September 2026 describe the withdrawal button disappearing, all withdrawal options shown as under maintenance, bank transfers not arriving a week later, and one Google Play report of a withdrawal marked successful and still uncredited on day 45. If you hold a balance, withdraw it in small amounts now and keep every reference number.

Is my money safe with Alpari?

There is no safety net. A Comoros licence brings no compensation scheme, no client-money rules a client could enforce, and no regulator that will take your complaint. Alpari also left the Financial Commission in early 2024, which removed the last external body that could rule on a dispute. The client agreement is governed by the laws of Comoros, so a court claim would have to be brought there.

Who owns Alpari and which company do I contract with?

You contract with Parlance Trading Ltd, registration number HY00423015, of Bonovo Road, Fomboni, Island of Moheli, Comoros Union. The brand was founded by Andrey Dashin, who remains the brand owner. Until mid-2025 the business sat inside the Exinity group; the brand and domain were then moved to this Comoros company with no public announcement, and the site does not say who owns it.

How old is Alpari?

The brand dates to December 1998 and alpari.com was registered in October 2002, so the name and the website have more than twenty years behind them. The company that now takes your money is much younger: its licence is dated April 2023 and its own documents from September 2023 carry the same registration number under an earlier name. When the site advertises over 25 years of experience, that history belongs to earlier companies, not to your counterparty.

What is the MISA licence actually worth?

Very little in practical terms. MISA is a registrar on an autonomous Comoros island, not a functioning supervisor, and it does not audit brokers, hold client-money rules you can enforce or run a complaints process. Its licences are sold cheaply and quickly. Treat a MISA licence as evidence that a firm wanted to look regulated at minimum cost, not as protection for your deposit.

Is Alpari a clone of another broker?

No. The licence matches the brand, the entity and the website. Licence T2023236 names Parlance Trading Ltd and is assigned exclusively to alpari.com, the registration number matches what the site publishes, and we found no licence number, company name, registration number or address belonging to another firm. Whatever else is wrong here, impersonation is not part of it.

Is Alpari allowed to take clients in India, the UK or the EU?

No. The Reserve Bank of India lists alpari.com as not authorised to deal in forex or run a trading platform in India, Spain's CNMV published a warning naming alpari.com/es, and the FCA published a warning against Alpari Limited. The site's own footer says it does not serve residents of India, the European Union or the United Kingdom, yet clients posting from India through 2026 describe funding accounts and requesting UPI and local bank withdrawals.

What happened to Alpari UK?

Alpari (UK) Ltd was authorised by the FCA from 2004 and collapsed on 16 January 2015, the day after the Swiss National Bank removed its cap on the franc. The High Court appointed special administrators on 19 January 2015. UK clients then had the FCA's rules and the compensation scheme behind them. Clients of today's Comoros entity have neither.

Why has Trustpilot removed Alpari's score?

Trustpilot states that the company rating is unavailable due to a breach of its guidelines and that it removed a number of reviews it judged to be fake. The underlying distribution is still visible: 289 reviews, of which 145, or 50 percent, are one star. A suspended score means the positive picture a visitor would otherwise see was being managed.

What should I do if Alpari will not pay me?

Put the demand in writing with the amount, date and withdrawal reference, and keep every reply. If you paid by card, ask your bank about a chargeback straight away, as the scheme time limits are short. If you paid in crypto, save the transaction hashes and the receiving address. Report it to your own national regulator and to the police, and do not pay anyone who offers to recover the funds for an upfront fee, as that is a second scam aimed at the same victims.

What should I check before depositing with any broker?

Three things, in this order. Find the licence number on the broker's own page, then look it up on the regulator's own register and check it names the same company and the same website. Check whether that regulator runs a compensation scheme. Then search the exact domain, not the brand, on Trustpilot and the app stores and read the one-star reviews for withdrawal complaints with amounts and dates in them.

Scan history

How this broker’s safety assessment has changed across scans.

2 scans

What changed since September 9, 2026

Two input facts have moved since the last assessment. The licence record for MISA T2023236 now names Parlance Trading Ltd as the licensed entity, where the name previously on record against the same registration number HY00423015 was Alpari (Comoros) Ltd; the registration number, licence number and registered address on Moheli are unchanged, and the broker's own legal pages and client agreement now name Parlance Trading Ltd throughout. A Persian-language site, alpariforexfa.org (registered March 2023), is recorded as an additional Alpari domain alongside trade.alpari.com; it carries the same Parlance Trading Ltd and T2023236 footer as the main site. Everything else is as before: the Reserve Bank of India Alert List entry for alpari.com remains in place and was updated on 19 November 2025, the Bank of Russia listing naming Alpari Limited and Parlance Trading Ltd was updated on 30 September 2026, the Belarus forex licence 192637625 is still recorded against a separate Minsk company rather than this operation, and the five official social accounts are unchanged.

  1. October 11, 2026CurrentLikely scam70% risk
  2. September 9, 2026Likely scam70% risk

Past scans are archived snapshots kept for transparency and are not indexed by search engines.

What we recommend

The practical takeaway from everything above.

Our advice

Our advice to a retail client.

  • Do not deposit new money. The company that holds your funds is supervised by a registrar on a small island whose licences the Central Bank of the Comoros has publicly disavowed. If the money is not returned, there is no regulator to complain to, no compensation scheme and no ombudsman.
  • If you already hold a balance, withdraw it now, in stages. Request a small amount first, keep the withdrawal reference, and screenshot every step. Do not add funds to unlock a withdrawal, and never pay a tax, fee, insurance or verification charge to release your own money.
  • Do not trade on a bonus. Several of the disputes turned on bonus terms, stop-out levels and a hedging clause that cancelled profits before payout. Read clause 17 of the client agreement before you take any promotion.
  • If a withdrawal is refused: put the request in writing to support, cite the amount, date and reference, and set a deadline. If you funded by card, ask your bank about a chargeback within the scheme time limit. If you funded by crypto, keep the transaction hashes and the receiving address. Report the loss to your own national financial regulator and to the police, even where the broker is offshore.
  • Alpari is not a clone. It does hold a genuine, exclusively assigned offshore licence. Its licences include a MISA licence. The verdict is still likely scam.

This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 11, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.

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