Alpari Nigeria Review 2024

Founded in 1998 with over 20 years of experience in the financial industry, Alpari broker has attracted more than 2,000,000 traders from 150 countries around the world. Headquartered in Saint Vincent and the Grenadines under the company name of Alpari Limited, this company allows you to enjoy beneficial trading conditions: leverage up to 1:3000, low spread starting from 0, and instant execution.

After registering a Live account at Alpari Nigeria, traders can choose from 4 available account types (Nano, Standard, ECN, and Pro ECN) in the MT4 and MT5 trading platforms (web and mobile). After that, they can start trading 46 currency pairs, 2 metals, and 30 CFDs with no minimum deposit and low to no commission. Traders can deposit and withdraw funds via bank transfers, debit/credit cards, electronic payments, and cryptocurrencies. The clients' funds are 100% safe and secure as the company is regulated by the FSA of Saint Vincent and the Grenadines and the FSA of Seychelles, as well as licensed by the IBC.

To help traders expand their knowledge and hone their skills, various educational resources are available at the Alpari Nigeria website, including economic calendar, news, article, 24/7 market analysis tools, currency converter, FAQ, trading signal, and glossary.

Alpari Nigeria also offers various promotions and contests, as well as other exciting programs, such as loyalty programs, referral programs, and partnership programs. Their PAMM account, especially, is designed to help traders invest in the accounts of experienced traders. Alpari Nigeria currently has over 60,000 active investors with more than 4,000 PAMM accounts opened.

One of the things that differentiate Alpari Nigeria from other brokerage companies is their client support. Traders can easily contact the support team from Monday to Friday, for 24 hours via phone, Skype (call only), email, and other messaging applications, including Facebook Messenger, VK, WhatsApp, Viber, and Telegram. That way, traders can get assistance and answers to any questions quickly.

Account types offered by Alpari Nigeria

As many experienced traders have advised, anyone who wants to join Forex trading should know which account type is best for them. That's why it is of utmost importance to know the trading conditions for each account type.

Alpari Nigeria offers 4 different Live account types: Nano, Standard, ECN, and Pro ECN. However, the account types are differentiated further based on the trading platform. All accounts are available in USD and EUR. Moreover, all strategies are welcome, including scalping and hedging.

Nano (Cent)

Minimum Deposit: $1
Leverage: 1:500
Minimum trade size: 0.01
Spread Type: Fixed from 2 pips
Commission: No
Account Currency: USD cents, EUR cents

👉 Open Cent

Standard

Minimum Deposit: $100
Leverage: 1:1000
Minimum trade size: 0.01
Spread Type: Floating from 0.3 pips
Commission: No
Account Currency: USD, EUR, GLD

👉 Open Standard

ECN

Minimum Deposit: $300
Leverage: 1:1000
Minimum trade size: 0.01
Spread Type: Floating from 0.1 pips
Commission: No
Account Currency: USD, EUR, GLD

👉 Open ECN

ECN Pro

Minimum Deposit: $500
Leverage: 1:1000
Minimum trade size: 0.01
Spread Type: Floating from 0 pips
Commission: $16 / lot
Account Currency: USD, EUR, GLD

👉 Open ECN Pro

👉 1. Nano Account

MT4

Alpari Nano account (Cent Forex Account) is only offered on the MT4 platform. This account is most suitable for beginner traders since the base currencies are in USC (USD cents) and EUC (EUR cents).

There is no minimum deposit amount for this account type. Traders can make use of the fixed leverage of 1:500 and spreads as low as 0.8 pips without any commission. The maximum order volume is 100 lots, whereas the maximum open and pending orders are both 50. All orders are executed instantly.

👉 2. Standard Account

MT4

In order to trade using the Alpari MT4 Standard account, experienced traders must deposit a balance of 20 USD minimum. They can keep up to 500 open orders and 100 pending orders with 50 lots of maximum order volume each and instant order executions. Spreads are offered as low as 0.8 pips with no commission, and leverage is floating up to 1:1000.

MT5

Different from the MT4 account, this account type requires a higher minimum deposit amount, which is 100 USD. The leverage offered is as high as 1:1000, and the minimum spread is 0.8. Traders can enjoy up to 500 open orders and 500 pending orders with 50 lots of maximum order volume each. All orders in this account type are also executed instantly.

👉 3. ECN Account

MT4

Alpari MT4 ECN account is dedicated to professional traders who prefer automated trading in an ECN environment. The maximum order volume is 100 lots, and traders can have a maximum of 1,500 open orders and 300 pending orders. By making a deposit as low as 300 USD, they can enjoy floating leverage up to 1:3000, a minimum spread of 0.2, and zero commission. All orders are done using instant market execution.

MT5

Alpari ECN account in the MT5 trading environment offers higher level conditions with instant market execution. To utilize the floating leverage of 1:3000 and a minimum spread of 0, traders should deposit at least 500 USD. The order specifications are also quite different: maximum order volume up to 100 lots, maximum open and pending orders up to 10,000. However, there is a commission of 16 USD per 1,000,000 USD traded.

👉 4. Pro ECN Account

MT4

Similar to the Nano account, traders can only use this type of account using the MT4 platform. By using the Alpari Pro ECN account, professional traders can have more access to the interbank liquidity and trade with market-based executions.

Moreover, traders will be offered with spreads as low as 0 and floating leverage as high as 1:3000 with a minimum deposit of 500 USD. This account charges a commission of 16 USD for every 1 million USD traded, where traders can have a maximum of 1500 open orders and 30 pending orders with 100 lots of maximum order volume each.

How to deposit and withdraw funds at Alpari Nigeria

In terms of deposit and withdrawal methods, Alpari Nigeria does not lose to other leading and global Forex brokers. This can be seen from the number of payment methods they offered, such as bank cards, wire transfers, e-wallets, and cryptocurrencies.
Here are several popular deposit methods available on Alpari:

🔸 Bank transfer --> USD, EUR. Commission: depending on your bank
🔸 Bank card --> USD, EUR. Commission: 2.5%
🔸 Perfect Money --> USD, EUR. Commission: 0.5%
🔸 Vload eVouchers --> USD, EUR. Commission: 0%
🔸 WebMoney --> USD, EUR. Commission: 0% + 0.8%
🔸 NETELLER --> USD, EUR, INR. Commission: 2.5% - 4%
🔸 AdvCash --> USD, EUR. Commission: 0%
🔸 Skrill --> USD, EUR. Commission via card: 2.4% + 0.29 EUR and via Skrill wallet: 1.4% + 0.29 EUR
🔸 TC Wallet --> USD, EUR. Commission: 0%
🔸 Bitcoin, Ethereum, Litecoin, Zcash, Tether --> BTC, ETH, LTC, ZEC, USDT (Omni, ERC20). Commission: 0% + network commission
Deposits via bank transfer will be processed in 2-3 working days, while deposit via bank cards (debit and credit) needs several hours to be processed. On the other hand, all deposits via e-wallet services and cryptocurrencies are credited instantly.

Fund withdrawals can only be done using the deposit methods used previously. Moreover, the name registered in the Forex account and the payment method must be the same since Alpari Nigeria does not receive or send any payments from or to third parties. The charged fee for each method varies:

🔸 Bank transfer --> USD, EUR. Commission: Americabank 0.1%
🔸 Bank card --> USD, EUR. Commission: 1.2% + 2.90 EUR
🔸 Perfect Money --> USD, EUR. Commission: 0.5%
🔸 Vload eVouchers --> USD, EUR. Commission: 6%
🔸 WebMoney --> USD, EUR. Commission: 0.8% (max 50 USD/EUR)
🔸 NETELLER --> USD, EUR. Commission: 0%
🔸 Skrill --> USD, EUR. Commission: 2.5%
🔸 AdvCash --> USD, EUR. Commission: 2%
🔸 TC Wallet --> USD, EUR. Commission: 0%
🔸 Bitcoin, Ethereum, Litecoin, Zcash, Tether --> BTC, ETH, LTC, ZEC USDT (Omni, ERC20). Commission: 0.1%, but not less than 3 USD and not more than 10 USD

Withdrawals via bank transfer and debit/credit cards are processed in around 2 working days. Electronic payments have different processing times, ranging from instantly to one working day. Meanwhile, withdrawals via cryptocurrencies are processed instantly after the network verification processes are completed.

Is Alpari Nigeria reliable and safe?

As a global brokerage company, Alpari Nigeria should comply with the international standards of client protection. To make sure that these practices are implemented properly, they keep the clients' funds in segregated bank accounts and apply an anti-money laundering policy. That is why all traders' funds are 100% safe and clients can trade safely and comfortably.

The Alpari group have obtained 3 international licenses:

👌 FSA of Saint Vincent and the Grenadines
👌 FSA of Seychelles
👌 IBC

In addition, this company is also a member of The Financial Commission, an organization that handles the resolution of financial disputes in the Forex market within their jurisdictions. They offer up to 20,000 USD coverage for each complaint verified.

Alpari Nigeria has sponsored various events, mostly related to sports competitions, including chess, soccer and football, mountain climbing, biathlon, bicycle, yacht, basketball, hockey, and many more.

Types of spreads in Alpari Nigeria

Spreads in Alpari Nigeria are offered floating, starting from 0 for MT4 Pro ECN and MT5 ECN accounts. There is no commission in most account types, except for MT4 Pro ECN and MT5 ECN accounts which charge 16 USD per 1,000,000 USD traded.

Below are the current average spreads counted in pips for common currency pairs:

Trading platforms offered by Alpari Nigeria

Traders of Alpari Nigeria can perform trading activities on various devices, including PC, smartphones, and tablets using two of the most popular trading platforms, MetaTrader 4 and MetaTrader 5. Both platforms can be accessed in Mac, iOS, Android, Windows, and web.

As a classic platform, MT4 becomes the choice of millions of traders. With its reliable encryption and automatic trading through Expert Advisors, traders can enjoy interactive charts, 9 timeframes, 18 analytical objects, and 29 indicators for technical analysis. Alpari Nano, Standard, ECN, and Pro ECN accounts can be accessed using the MT4 platform.

As one of the most modern trading platforms, MT5 offers one-click trading and access to interbank liquidity through the MT5 Bridge technology. With a new generation of coding with MQL5, traders can enjoy 12 new timeframes, more than 20 new technical indicators, a built-in strategy tester, and interactive charts. Only the Standard and ECN accounts can be accessed using the MT5 platform.

Furthermore, Alpari Nigeria provides educational resources (specific FAQ page, user guide, and programming tutorial) to help traders learn further about the trading platforms.

Alpari Nigeria Review 2024

Account types offered by Alpari Nigeria

How to deposit and withdraw funds at Alpari Nigeria

Is Alpari Nigeria reliable and safe?

Types of spreads in Alpari Nigeria

Trading platforms offered by Alpari Nigeria

Key advantages of trading with Alpari Nigeria