Are you thinking about making Alpari your regular broker? That’s an excellent choice. It does not matter if you’re just a beginner in Forex trading or a pro looking for more features and less commissions — this brokerage platform has something interesting for everyone. But you need to choose an account that will correspond to your skill and trading style.
To make this choosing thing a little bit easier, the team of Traders Union experts has reviewed the numerous MT4-compatible accounts provided by Alpari. In this article, we summarize the conclusions of the team and provide our recommendations on choosing the best Alpari account on MetaTrader 4 depending on your needs.
What you should know about Alpari
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Even if you’re completely new to the Forex market, you should have heard at least something about Alpari. Founded in 1998, this broker has been providing financial services to traders and investors from all around the world ever since. Alpari offers only two trading platforms for its clients to choose from: MetaTrader 4 and MetaTrader 5.
While MetaTrader 5 is more modern, MetaTrader 4 still remains among the most popular and functional trading platforms out there. And when it comes to choosing accounts, Alpari offers MT4 users more flexibility. That’s one of the reasons our Traders Union experts have focused on reviewing the Alpari MT4 account options.
Alpari accounts
While its trading conditions are not overwhelming, Alpari manages to offer a variety of options for traders with different backgrounds. There is even an option to trade with a cent account: it has no deposit threshold, so you can practice your Forex trading skills without serious risks or spending too much money. Let’s see how experts have rated the available accounts.
standard.mt4
This is a standard account for MT4. Its conditions are designed to satisfy the majority of casual traders. It has a deposit threshold of $20, and the leverage goes all the way to 1:1000. However, Alpari has more to offer, if you want to change your trading style or just test different strategies without risking your balance too much.
nano.mt4
This is a cent account that may be seen as a sandbox for training your trading skill or examining new strategies. It has no limits on deposit size, so you can start from just one cent. Moreover, such accounts have a minimum lot size of 1000 units instead of the usual 100.000 unit. That’s what makes it perfect for small-scale deals of novices or trading innovators.
The experts of Traders Union have tried to locate any hidden fees for these accounts, but they couldn’t find any. That means we can safely recommend nano.mt4 to novice traders who don’t know if the broker is worth their time.
ecn.mt4
This account is designed to suit more experienced traders. It offers more flexible leverage that goes from 1:2 to 1:3000, 46 available currency pairs, and quicker order execution. Considering the minimum deposit of $300, we see this account as the best combination of flexibility and a variety of instruments that doesn’t seem too oriented on pro traders.
pro.ecn.mt4
This is definitely a professional option. The deposit starts from $500; the leverage is the same as for the ecn.mt4 accounts. A commission of $1.6 is taken for every standard lot. This account suits only the most experienced Forex trading participants: it allows you to earn money a little bit quicker, but you can also lose them really quick. We don’t recommend growing all the way to this league too soon.
Summing up
There is one more aspect of the Alpari account system that’s worth noting. The experts have found that there’s an option to disable swaps to avoid paying commissions for them. That can be done by making your account Islamic, and it seems to work on all types of accounts besides the nano.mt4 ones. To sum this overview up, the Traders Union experts have found a rational system in the Alpari MetaTrader 4 accounts. If you’re just a beginner, make sure to test your analytical skills in the nano.mt4 conditions or even try a demo. But if you want a flexible account with various tools, check out more professional options.
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