Alpari International Forex Broker Review
Historic retail forex brand regulated by FSC Mauritius, offering MT4 and MT5 with ECN and Standard accounts, widely recognised in the CIS and emerging markets but operating under an offshore licence since the Alpari UK collapse.
Also reviewed as:
How Alpari International ranks
Trust & Regulation
#48of 55
Fees & Spreads
#36of 55
Platforms & Tools
#42of 55
Customer Support
#48of 55
Min Deposit
$5
Spreads From
0 pips
Max Leverage
1000:1
Founded
1998
HQ
Port Louis, Mauritius
Last Reviewed
May 3, 2026
Alpari International Pros
- 26-year brand history in retail forex
- Mature PAMM investor platform - one of the originals
- ECN accounts with $6 per-lot commission competitive with top ECN desks
- Wide geographic reach across CIS, MENA, and Africa
- Client funds held in segregated accounts
- Raw spread account available
- No deposit fees
- No inactivity fee
- MetaTrader 4 and MetaTrader 5 supported
- Mobile trading app available
- Transparent pricing with clear cost disclosure
- 24/5 live chat support
- Phone support available
- Multilingual customer support
Alpari International Cons
- FSC Mauritius licence - lower investor protection than FCA/ASIC/CySEC
- Legacy of UK entity collapse in 2015 is a cautionary reference point
- No top-tier regulatory licence for its core international client base
- No negative balance protection
- No investor compensation scheme
- No proprietary platform
- Limited charting capabilities
Alpari International Forex Broker Review
Alpari's history and rebrand
Alpari was founded in 1998 and at its peak in the early 2010s was one of the world's largest retail forex brokers. The UK entity collapsed in January 2015 - a casualty of the Swiss National Bank's sudden CHF removal from its EUR peg, which caused extreme CHF/EUR slippage that breached many clients' negative balances and rendered the UK desk insolvent. Alpari International, headquartered in Mauritius, is the surviving entity and is a distinct legal structure from the failed Alpari UK.
Current offering
Alpari International is regulated by the FSC in Mauritius - a mid-tier offshore jurisdiction. The broker offers MT4 and MT5 across three main account types: Standard, ECN, and ECN Pro. ECN accounts route to a multi-bank LP network with raw spreads from 0.0 pips and a $6 per-lot commission - competitive with IC Markets. The Standard account is spread-only with costs from around 1.2 pips on EUR/USD.
PAMM accounts are a historically strong area for Alpari - the broker was one of the pioneers of this format and continues to operate a mature PAMM investor platform where clients can allocate capital to verified PAMM managers.
Regulatory context
The FSC Mauritius licence is a legitimate mid-tier regulatory framework but does not carry the same investor protections as FCA, ASIC, or CySEC. There is no equivalent of FSCS or ICF compensation under FSC Mauritius. Traders should weigh this when considering deposit sizes.
Alpari International Score Breakdown
3.9/ 51/440% of total score−0.5 below average#48 of 55
3.7/ 5- Top-tier regulator (FCA, ASIC, CFTC, etc.)
- Segregated client funds
- Negative balance protection
- Compensation scheme (e.g. FSCS)
4/430% of total score−0.1 below average#36 of 55
4.1/ 5- Raw/ECN spreads available
- No deposit fee
- No inactivity fee
- Transparent pricing page
2/420% of total score−0.3 below average#42 of 55
3.9/ 5- MT4/MT5 available
- Proprietary platform
- Mobile app
- Advanced charting tools
3/310% of total score−0.3 below average#48 of 55
3.8/ 5- 24/5 live chat
- Phone support
- Multilingual support
Last reviewed: May 3, 2026
Alpari International Active Forex Bonuses
2Referral
Cash reward for referrer and new Alpari client
Alpari Refer a Friend
Alpari pays a cash reward to existing clients who refer new traders - both the referrer and the new client receive a credit once the account is verified and trading begins.
Min. deposit: $100
Deposit Bonus
Percentage bonus on first qualifying deposit
Alpari International Deposit Bonus
Alpari International offers qualifying clients a deposit bonus on their first live account funding, credited as non-withdrawable margin support.
Min. deposit: $100
Researching your options? Browse our full list of the best forex brokers to compare scores, spreads, and regulation side by side.
Alpari International Regulatory Licences
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Alpari International Forex Trading Platforms
Compare the leading forex trading platforms supported by Alpari International.
Alpari International Markets & Instruments
Forex
Commodities
Indices
Crypto
Stocks CFDs
Countries Where Alpari International Is Available
Brazil
Belarus
Chile
Algeria
Egypt
Georgia
Ghana
Kyrgyzstan
Nigeria
Tajikistan
Turkmenistan
South Africa
United Arab Emirates
Armenia
Argentina
Azerbaijan
Bangladesh
Bulgaria
Bahrain
Oman
Indonesia
Malaysia
India
Kenya
Kuwait
Kazakhstan
Morocco
Moldova
Qatar
Philippines
Pakistan
Poland
Mexico
Romania
Russia
Saudi Arabia
Thailand
Tunisia
Turkey
Uganda
Tanzania
Ukraine
Uzbekistan
VietnamReady to trade with Alpari International?
Open your account and start trading today.
Frequently Asked Questions About Alpari International Forex Trading
No. Alpari International (Mauritius) is a distinct legal entity from Alpari UK, which went into special administration in January 2015 following the Swiss franc crisis. Alpari International continued operating independently and is unrelated to the UK liquidation proceedings.
PAMM (Percentage Allocation Management Module) accounts let investors allocate capital to professional money managers who trade on their behalf. Profits and losses are distributed proportionally. Alpari was one of the first brokers to popularise the PAMM format and maintains a large library of verified PAMM managers with full performance histories.
Alpari International is licensed by FSC, FSCA. Client funds are held in segregated accounts at tier-1 banks, separate from company funds. Always verify the licence on the regulator's public register before depositing.
Alpari International's minimum deposit is $5. Deposits are accepted free of charge via bank transfer, card, and selected e-wallets.
Alpari International offers raw spreads from 0.0 pips with a commission of $6.00 per standard lot round-turn on the raw-spread account. Deposits are free on standard funding methods. No inactivity fee applies to dormant accounts.
Alpari International supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5). A mobile trading app is available for iOS and Android.
Alpari International customer support is available via live chat during trading hours (24 hours a day, Monday to Friday). Phone support is also available. Support is provided in multiple languages.
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