Alpari Singapore Review

Overview

Alpari founded itself in 1998 and has since grown to become one of the largest and most respected Forex brokers in the world. The Financial Conduct Authority (FCA) in the UK and the Financial Services Authority (FSA) in Russia regulate the company. Additionally, the company is a member of the Financial Commission, an independent dispute resolution organization. In this Alpari Forex Singapore review, we will closely examine the broker’s features, services, and fees to help you determine if it is the right broker for you.

Alpari Singapore provides traders with access to a wide range of currency pairs, commodities, indices, and other financial instruments. The Monetary Authority of Singapore (MAS) regulates Alpari Singapore, and it is a member of the Financial Commission, an independent dispute resolution organization. Alpari Singapore offers a variety of trading platforms, including the popular MetaTrader 4 and 5, as well as its own proprietary platform. The broker also offers a range of educational resources, including webinars, seminars, and video tutorials. Alpari Singapore is a leading online forex broker.

How to Get Started with Alpari in Singapore

If you are interested in getting started with Alpari in Singapore, here are the steps you need to take:

• Open an Account

To open an account with Alpari, you can visit the Alpari website and fill out the registration form online. The registration form will require you to provide personal information, including your name, address, and contact details.

• Fund Your Account

To start trading, you need to fund your account after opening it. Alpari accepts various payment methods such as bank transfers, credit cards, and e-wallets.

• Download the Trading Platform

Alpari offers the MetaTrader 4 and MetaTrader 5 trading platform. You can choose your preferred platform and download it for installation on your computer or mobile devices.

• Start Trading

After installing the trading platform, you can start trading. You can then use the platform to analyze the markets, place orders, and manage your positions.

By following these steps, Alpari in Singapore can be accessed and trading can be started. A variety of instruments can be traded in the global financial markets with Alpari.

Account Types

Alpari Singapore offers a range of account types to suit the needs of different traders.

The Standard Account – suitable for traders who are just starting out in the Forex market. It offers tight spreads, low commissions, and a minimum deposit of $200.

The Micro Account – with a $5 minimum deposit, this type of account allows traders to start trading with a small amount of money. The account also offers leverage options, allowing traders to increase their potential profits.

The Pro Account – designed for experienced traders who are looking for more advanced features. It offers tighter spreads, higher leverage, and a minimum deposit of $500.

The ECN Account – ideal for traders who want to take advantage of the best possible trading conditions. It offers ultra-tight spreads, no commissions, and a minimum deposit of $1000.

Finally, the Islamic Account is designed for traders who wish to trade in accordance with Islamic law. It offers all the features of the Standard Account, with no interest charged on overnight positions.

No matter what your trading style or experience level, Alpari Singapore has an account type to suit your needs.

Trading Assets

Alpari Forex Singapore provides its clients with a wide range of trading assets, which include major, minor, and exotic currency pairs, as well as commodities, indices, stocks, and cryptocurrencies.

• Major currency pairs are the most traded currency pairs in the world and include the US Dollar (USD), Euro (EUR), Japanese Yen (JPY), British Pound (GBP), Swiss Franc (CHF), Canadian Dollar (CAD), and Australian Dollar (AUD).
• Minor currency pairs are less traded than major currency pairs but still offer good liquidity and trading opportunities. These include the New Zealand Dollar (NZD), South African Rand (ZAR), Mexican Peso (MXN), Singapore Dollar (SGD), Hong Kong Dollar (HKD), and Norwegian Krone (NOK).
• Exotic currency pairs are those that involve a major currency and a currency from an emerging or smaller market. These include the Turkish Lira (TRY), South Korean Won (KRW), and Indian Rupee (INR).

In addition to currency pairs, Alpari Forex Singapore also offers a range of commodities, indices, stocks, and cryptocurrencies.

• Commodities include gold, silver, oil, and natural gas. Indices include the Dow Jones Industrial Average (DJIA), S&P 500, and NASDAQ.
• Stocks include those from major companies such as Apple, Microsoft, and Amazon.
• Cryptocurrencies include Bitcoin, Ethereum, and Litecoin.

Trading Platforms and Features

Alpari Singapore provides traders with the MetaTrader 4 & 5 trading platforms. Traders use the MetaTrader 4 platform, which is powerful and user-friendly. The platform offers advanced charting, automated trading, and a variety of technical indicators. Traders can also use a range of Expert Advisors (EAs) to automate trading strategies.

The MetaTrader 5 platform is an upgraded version of the MetaTrader 4 platform and offers advanced features such as a multi-asset trading environment, advanced charting, and a range of Expert Advisors. Traders can download these trading platforms on their PC, Mac, or mobile devices to trade whenever and wherever suits them.

Deposit & Withdrawal Options

Alpari Forex Singapore facilitates a wide range of deposit and withdrawal options for its clients, aiming to simplify the process of funding their accounts and withdrawing profits.

Clients can use a variety of methods to deposit funds into their accounts, including bank transfers, credit/debit cards, and e-wallets like Skrill, Neteller, and WebMoney. All deposits are processed quickly and securely.

Similarly, clients can withdraw their profits using the same methods as deposits, and all withdrawals are processed quickly and securely.

Overall, Alpari Forex Singapore provides a vast range of deposit and withdrawal options that clients can effortlessly utilize to fund their accounts and withdraw their profits.

Fees & Commission

Alpari Forex Singapore charges its clients competitive fees and commissions. The type of account and services used determine the fees and commissions. For both buying and selling of currencies:

Micro Account – no commission fees, but there are spreads and overnight swap fees that vary depending on the currency pair and market conditions. The account also has a minimum deposit requirement of $5 and a maximum leverage of 1:500.

Standard Account – a commission of 0.03% of the total trade value is charged | a minimum commission of $2.50 per trade.

ECN Account – a commission of 0.01% of the total trade value | a minimum commission of $2.50 per trade.

Pro Account – a commission of 0.005% of the total trade value | a minimum commission of $2.50 per trade.

Additionally, Alpari Singapore charges a spread for each currency pair, which is typically between 0.1 and 0.5 pips. Clients can also access trading signals, market analysis, and educational materials for an extra fee.

Leverage & Margin Requirements

Alpari Singapore offers important aspects of trading in the Forex market, including leverage and margin requirements, which are key features.

A trader can borrow money from the broker to open a position in the market, which is known as leverage. The borrowing is done at a certain ratio, such as 1:100 or 1:500, meaning that the trader can borrow 100 or 500 dollars for every dollar in their account. This allows traders to open larger positions and potentially make greater profits, but it also increases the risk of losses.

Alpari Singapore provides leverage ratios of up to 1:1000, which stands as one of the highest in the industry. This implies that traders can borrow up to 1000 times their account balance and have the potential to make significant profits with a small amount of capital. Nevertheless, it is essential to note that this also amplifies the risk of losses, and traders should exercise caution when using high-leverage ratios.

Margin requirements refer to the amount of money that a trader is required to have in their account in order to open and maintain a position in the market. This acts as collateral for the borrowed funds and ensures that the trader has enough funds to cover any potential losses.

Alpari Singapore requires a minimum margin of 1% for major currency pairs and 2% for exotic currency pairs. This means that for a position of $100,000, a trader would need to have at least $1000 in their account for major currency pairs and $2000 for exotic currency pairs. If the trader’s losses exceed their available margin, their position will be automatically closed by the broker, known as a margin call.

In summary, Alpari Singapore provides high leverage ratios of up to 1:1000 but demands a minimum margin of 1% for major currency pairs and 2% for exotic currency pairs. Traders should exercise caution when utilizing high-leverage ratios and make sure that they have enough funds to cover potential losses.

Education & Customer Support

Alpari Forex Singapore commits to offering its customers the best possible trading experience. We acknowledge the importance of education in achieving successful trading, and we work hard to equip our customers with the necessary resources to become successful traders.

You can go to the official Alpari International website to check out their comprehensive library of educational material, including webinars, e-books, and video tutorials. The webinars cover a wide range of topics, from the basics of Forex trading to more advanced strategies. The e-books provide detailed information on a variety of topics, from the fundamentals of Forex trading to more advanced topics such as risk management and technical analysis. Lastly, the video tutorials provide step-by-step instructions on how to use the trading platform and how to execute trades.

In addition, Alpari Singapore also provides a dedicated customer service support team to answer any inquiries the clients might have. They have the live chat and Telegram options on their website.

Client Support

Monday to Friday: 24 hours
Saturday: 11:00 – 16:00
Sunday: 12:00 – 20:00
(GMT+2/GMT+3 during Daylight Saving Time)

• Phone Number: +442 080 896 850
• Email: customersupport@alpari.org

Pros and Cons

Pros

• Offers a wide range of trading instruments, including currency pairs, commodities, indices, and stocks. This allows traders to diversify their portfolios and take advantage of different market conditions.
• Provides a secure trading environment with advanced security measures, such as two-factor authentication and encryption. This ensures that traders’ funds and personal information are kept safe.
• Offers competitive spreads and low commissions, making it an attractive option for traders who are looking to maximize their profits.
• Provides a user-friendly trading platform with a range of features, such as charting tools, technical indicators, and automated trading. This makes it easy for traders to analyze the markets and make informed trading decisions.
• Offers a range of educational resources, such as webinars, tutorials, and e-books. This helps traders to gain a better understanding of the markets and develop their trading skills.

Cons

• Does not offer a wide range of customer support options, which may be inconvenient for traders who need assistance.
• Does not offer a wide range of trading tools, which may be a disadvantage for traders who are looking for more advanced features.
• Only has limited trading platforms.

Is AvaTrade a Legitimate Forex Broker in Singapore?

Yes, Alpari is a legitimate and reliable Forex broker in Singapore. The Monetary Authority of Singapore (MAS) regulates Alpari, and it is also a member of the Investment Industry Regulatory Organization of Canada (IIROC). 

Conclusion

Alpari Singapore offers a wide range of services and features to its clients, making it a reliable and trustworthy broker. It provides a secure and user-friendly trading environment, competitive spreads, and a wide range of trading instruments. Additionally, the company maintains excellent customer service and is committed to providing the best possible trading experience. Traders looking for a reliable and trustworthy broker should consider Alpari Singapore as a great choice.

Check out our reviews of other recommended forex brokers in Singapore.

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