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Alpari Review

Alpari NZ (not the same company as Alpari UK or US), enjoys one of the best reputations for honesty among all retail forex brokers. There are numerous reports on the internet about Alpari spontaneously returning customers' money on orders that didn't get filled properly as a result of some error on Alpari's part. This is almost unheard of in the retail forex world, as most traders have to fight tooth-and-nail with their brokers for every pip. If this is the sort of service you value, and you should, then look no further than Alpari.

Alpari NZ is regulated by the FRA (Financial Regulation Agency) in Russia, and has been in business since 1998. Since 2005, Alpari has won numerous national awards, including "Best Internet Broker" by the "Russian Financial Elite", and "The Best Russian Company – 2007 – The Best Business Reputation in the Financial Sphere" by "Financial Russia 2007".

Alpari NZ also offers new clients a 20% bonus on their first deposit - for example, if you deposit $10,000 you will get $12,000 in your trading account (certain conditions apply, in order to ensure that traders don't abuse the bonus). On top of that, they offer a wide range of tradeable instruments (please be aware that alpari.classic accounts have a wider choice than alpari.micro accounts), very competitive spreads, the Metatrader 4 (MT4) trading platform which is preferred by many retail traders, as well as forex education. Alpari is also known for having the best quality free historical chart data that can be used for back-testing systems. It should be noted that this data is available to the public and can be downloaded by anyone, not only Alpari account holders.

On the downside, Alpari customer support gets a slightly poorer rating simply because their live chat is sometimes unavailable or experiencing technical difficulties and they don't offer a toll-free telephone number, so if you don't want to have a large phone bill, you have to rely on email support, which has its inherent delays and is not very suitable to a fast moving environment such as the forex market. Once you do get through to the live chat support though, the quality of service is top-notch.

Alpari customers have access to the Currenex ECN platform on its pro.direct accounts (starting at $20,000), offering direct access to the largest pool of interbank liquidity available to retail traders (over 60 large banks and other institutions provide liquidity to the Currenex network). Market depth is also displayed in the Currenex platform, allowing traders to see all open interest within the network. Currenex also allows traders to place many types of complex order types and offers traders many other professional-level tools that are not available on most retail platforms. A large array of other account types are available so most types of traders should be able to find something that suits - see "Account Types" section below for more details on what is available.

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Subjective Ratings

Charting: Four and Half star Charting Rating
Execution: Four and Half star Execution Rating
User-friendliness: Four and Half star User-friendliness Rating
Customer support: Four star Customer Support Rating
Transaction costs (spreads): Five star Transaction Costs (spreads) Rating
Rollover interest rates: Four star Rollover interest rates Rating
Withdrawal processing: Four star Withdrawal processing Rating
Platform Functionality: Four star Platform Functionality Rating
Platform Reliability: Five star Platform Reliability Rating
Average rating: Four and Half star Average Rating

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Business Details

Broker Headquarters: New Zealand
Regulated By: FRA (Russia)
Client Account Segregation: ASB Bank New Zealand
Collect Taxes on Earnings: No
Accept US traders?:
Main liquidity providers: Barclays Capital, UBS Bank, Deutsche Bank, JP Morgan, Bank of America, and many others
Also has offices in: Many branches around Russia
Registered Business Name: Alpari NZ Limited (New Zealand)
In business since year: 1998
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
Visa $0 $0
WebMoney $0 $0
WebMoney Card $0 $0
Wire Transfer $0 $10/EUR10

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Trading Conditions

Browser platform: Currenex ECN (for pro.direct accounts)
Downloadable platform: Alpari MetaTrader 4 (MT4)
Mobile platform: Alpari aTrader (for Android),Alpari bTrader (for Blackberry),Alpari iTrader (for iPhone)
Phone dealing: Yes
No Dealing Desk Execution: Yes
Fixed spreads: No
Guaranteed stop losses? No
Hedging capability: Yes
Timezone GMT
Scalping allowed: Yes - Currenex ECN places no restrictions on trading style.
Account currencies available: EUR, Gold, USD
Platform languages: Arabic, Bulgarian, Czech, Dutch, English, Estonian, Farsi, French, German, Greek, Hebrew, Hungarian, Indonesian, Italian, Japanese, Korean, Lithuanian, Polish, Portuguese, Russian, Serbian, Simplified Chinese, Spanish, Traditional Chinese, Turkish
Support languages: Chinese, English, Russian, Spanish
Demo account: 30 days
Live chat support: Yes - a little slow but top quality
Promotions & tournaments: 20% first deposit bonus. Interest paid on unused margin at 2% annual rate (alpari.premier accounts only). Free courses and educational materials.
Swap-free accounts  $10 per standard lot (100,000) round turn trade. Trade can be held for unlimited time period.
Typical spread on EUR/USD: 0.5 pips (0.00005) - widens overnight Moscow time
Order processing: ECN on pro.direct accounts
OCO orders available: Yes o
Trailing Stops: Server-side
If/then orders available: Yes on Currenex
Account Types
Account Maximum
Leverage
Minimum/Maximum
deposit:
Minimum/Maximum
trade size:
Notes
micro.mt4 500:1* no limits 1,000/500,000
classic.zulutrade 500:1* $200/unlimited 1,000/100,000,000
classic.systematic 500:1* $200/unlimited 1,000/100,000,000
classic.mt4 500:1* $200/unlimited 10,000/unlimited
pamm.systematic 100:1* $300/unlimited 1,000/100,000,00
pamm.mt4 100:1* $300/unlimited 1,000/unlimited
classic.ndd.zulutrade 100:1* $1,000/unlimited 10,000/100,000,000
pamm.ndd.mt4 100:1* $1,000/unlimited 10,000/1,000,000
classic.ndd.mt4 100:1* $1,000/unlimited 10,000/1,000,000
pro.ecn.mt4 100:1* $5,000/unlimited 300,000/10,000,000
pamm.ecn.mt4 100:1* $5,000/unlimited 300,000/10,000,000
pro.direct (Currenex) 200:1* $20,000/unlimited 10,000/unlimited
Tradeable Instruments: 53   
Automated Trading: Yes, on MT4
Depth of market view (Liquidity): Depth of market available on Currenex platform
Interest on Margin: Yes
Pending Orders Away from Market: 0 pips (No restriction)

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* The high degree of leverage available in foreign exchange trading can work against you as well as for you. Investors should ensure they are fully aware of the benefits and risks before putting any money on the line.

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