A long-running forex and CFD brand, founded in 1998, now operated by Parlance Trading Ltd in the Comoros. Its only stated licence is from the Mwali International Services Authority, which we could not confirm, so we list no regulator.
Facts last checked 20 October 2026. Always confirm on the regulator’s register. How we review brokers
Get an email when Alpari's licence or key facts change.
Key facts
Founded
1998
Headquarters
Fomboni, Mohéli, Comoros
Minimum deposit
$30
Max. retail leverage
Up to 1:3000 (ECN and Pro ECN); 1:1000 on Standard; 1:500 on Micro
Your protection depends on which company holds your account, and that depends on where you live. Each row is one licensed company. What regulation means
Regulation not yet checked. Do not deposit until you have found the licence on a regulator’s register.
No register to check: we could not find this firm on a regulator’s public register. A licence you cannot look up gives you no protection you can rely on. How to check a licence
Websites
Official websites
✓alpari.com
Type the address yourself or use a bookmark. Check it matches the website listed for the firm on the regulator’s register.
Watch out for look-alike sites
We have not recorded any look-alike sites for Alpari. That does not mean none exist.
A clone firm copies a real broker’s name, licence number and branding to take deposits. The register shows the genuine firm, so the surest check is the contact details: if the website, email or phone number you were given is not the one on the register, treat it as a clone. Check a broker step by step
Accounts and costs
Account types and costs not yet checked.
Cost per lot = typical EUR/USD spread × $10 + round-turn commission, for one standard lot (100,000 units) in busy hours. Swap and other fees are extra. Trading costs explained
Leverage and margin
Leverage lets you open a position bigger than your deposit, so losses grow as fast as gains. The caps below are the most Alpari allows; you can always use less. For comparison, strict regulators cap retail leverage at 1:30 on major pairs.
50% on Micro and Standard; 80% on ECN and Pro ECNWhen your equity falls to 50% on Micro and Standard; 80% on ECN and Pro ECN of the margin your open trades use, you get a warning and usually cannot open new trades.
Stop-out
20% on Micro and Standard; 50% on ECN and Pro ECNWhen your equity falls to 20% on Micro and Standard; 50% on ECN and Pro ECN of your used margin, the platform starts closing your trades, usually the biggest loser first, until the level recovers.
Margin level = equity ÷ used margin × 100. Without negative balance protection, a fast market can gap past the stop-out and leave you owing money. Work out your margin level
Four account types, from a $30 Micro account to a raw-spread Pro ECN account
Commission-free Micro, Standard and ECN accounts
MetaTrader 4 and 5, PAMM investing and a demo account
Watch out for
Says it holds Mwali International Services Authority (MISA) licence T2023236; we could not confirm it on MISA's register on 2026-10-20, because the register sits behind a bot check
No licence from a strict regulator; not available to UK or EU residents
We found no statement on its site about segregated client money or negative balance protection
Leverage up to 1:3000, and deposit bonuses that come with conditions
Overview
Alpari started in 1998 and is one of the older names in retail forex. Today the brand is run by Parlance Trading Ltd from the Comoros, and it does not take clients from the UK, the EU, the US, Japan, Canada and several other countries. It offers four live accounts on MetaTrader 4 and 5, plus PAMM accounts for investing alongside other traders.
Regulation and safety
Alpari says Parlance Trading Ltd is registered in the Comoros under number HY00423015 and licensed by the Mwali International Services Authority (MISA) as an International Brokerage and Clearing Company, licence T2023236. MISA’s register was behind a bot check when we tried it on 20 October 2026, so we could not confirm the licence. Even if the licence is valid, Mohéli is an offshore centre with light supervision and no compensation scheme.
We found no statement on Alpari’s site about segregated client money or negative balance protection. Ask for both in writing before you deposit. Our regulation guide explains why this matters, and you can check a broker yourself.
Costs
Micro, Standard and ECN accounts charge no commission; the cost is in the spread. Alpari quotes spreads from 1.5 pips on Micro, 1.2 on Standard, 0.8 on ECN and 0.0 on Pro ECN. Pro ECN adds $2.50 per lot per side on forex, or $5 per round turn. Alpari publishes only these “from” figures, so compare live spreads on a demo first. See our trading costs guide.
Platforms and tools
Micro and ECN run on MT4; Standard and Pro ECN on MT4 or MT5. Stock and ETF CFDs are on MT5 Pro ECN only. Read MT4 vs MT5 for the differences.
Deposits and withdrawals
Alpari accepts cards, bank wires, e-wallets, crypto and local methods. Your first deposit must go back to the same source; profits can be withdrawn by other methods. Fees depend on the method and are taken from the amount withdrawn.
Who it may suit
Traders outside the UK and EU who know the MetaTrader platforms and accept that no licence has been confirmed. Leverage of up to 1:3000 can wipe out an account fast, so use a much lower setting.
How to open an account
The steps as we checked them. Never deposit until you have confirmed the licence.
Check which company you will join
Alpari accounts are opened with Parlance Trading Ltd, registered in the Comoros under number HY00423015. The company is named in the client agreement.
Register
Create your profile with your basic personal details.
Verify your identity
Upload a valid ID and a proof of address to activate the account.
Choose an account
Pick Micro ($30), Standard ($100), ECN ($300) or Pro ECN ($500). Only Pro ECN charges commission.
Fund the account
Deposit by card, bank wire, e-wallet, crypto or a local method. Your first deposit has to be withdrawn back to the same source.
Practise first
Open a demo account (not available for Micro) and test the platform before you trade with real money.
What changed on this profile
Profile published. Alpari's stated MISA licence could not be checked on MISA's register, so no regulator is listed.
Alpari: common questions
Is Alpari regulated?
Alpari says Parlance Trading Ltd is licensed by the Mwali International Services Authority (MISA) under number T2023236. We could not check that on MISA's register on 20 October 2026, so we list no confirmed regulator. Alpari holds no licence from a strict regulator such as the FCA or CySEC.
Which company will I join?
Parlance Trading Ltd, based in Fomboni on the island of Mohéli in the Comoros, which uses Alpari as its trading name.
What is the minimum deposit?
$30 for Micro, $100 for Standard, $300 for ECN and $500 for Pro ECN, or the same in euros. Some payment methods set their own minimums.
Can I lose more than I deposit?
We did not find a negative balance protection policy on Alpari's website. Positions are closed at the stop-out level (20% or 50% depending on the account), but in fast markets an account can still fall below zero. Ask Alpari to confirm its policy in writing before you deposit.
This profile is factual information, not a recommendation or financial advice. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Read the full disclaimer.
