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about Alpari UK

  • #1
  • First Post: Dec 11, 2006 4:29am Dec 11, 2006 4:29am
I've been demo trading Alpari UK for a month now, I have to say that I'm completely satisfied with them so far. I have tried numerous other MT4 borkers, and most of them have connection issues. Alpari UK does not have this problem.

But I haven't opened a real account with them so far, mainly because I feel uncomfortable with their terms for doing so. I've registered with them online, and I was classfied as an Expert/Experienced trader, and because of that, they say that FSA rules do not cover my money deposited with them.

I don't like that at all. and I wonder whether or not other brokers do the same? does anybody know?
  • #2
  • Dec 17, 2006 4:14pm Dec 17, 2006 4:14pm
Quoting iPlayGames
I've been demo trading Alpari UK for a month now, I have to say that I'm completely satisfied with them so far. I have tried numerous other MT4 borkers, and most of them have connection issues. Alpari UK does not have this problem.

But I haven't opened a real account with them so far, mainly because I feel uncomfortable with their terms for doing so. I've registered with them online, and I was classfied as an Expert/Experienced trader, and because of that, they say that FSA rules do not cover my money deposited with them.

I don't like that at all. and I wonder whether or not other brokers do the same? does anybody know?
Did you end up opening an account with them? I have been curious about this broker for awhile but tough to find anyone that actually has a live account with them.
  • #3
  • Dec 17, 2006 4:26pm Dec 17, 2006 4:26pm
Quoting derabuf
Did you end up opening an account with them? I have been curious about this broker for awhile but tough to find anyone that actually has a live account with them.
considering Alpari UK is brand new, that's no surprise...

Alpari UK handles swaps the old fashion way though, and really is tough for me to get a handle on. I'm used to keeping trades open until I close them.

I've been using the Alpari demo for ages, but then when they introduced "UK", they diverted me to download the UK demo... so I figured it would be ok, but I didn't count on the swap thingy... so now I have a hard time understanding how successful my system is that is running on that account.
  • #4
  • Dec 18, 2006 1:23am Dec 18, 2006 1:23am
I also contacted them to ask about the fact that as an "Experienced trader" your money is not protected according to FSA rules.

They answered that this rule is important only in case if Alpari UK goes banckrupted. But I think that is just one one the main interest to be FSA regulated.

So for me, even if they are FSA regulated, their clients cannot really benefit from it, as by their agreement they remove the main protection.
  • #5
  • Dec 18, 2006 8:50am Dec 18, 2006 8:50am
no I haven't opened an account with them yet. I'm still demo trading them.

I have also noticed the swap thing. I don't like it too. but it doesn't affect me much in real trading, since I keep my own log of every trade I make.

yeah, that no guarantee for your money thing really sucks. I wonder if we could go around it by declaring that we had no previous experience in trading, or at least not enough to be classified as an Intermediate trader. I wonder if they'll let you open an account with them. if not, just keep demo trading with them and find anohter real broker.
  • #6
  • Dec 18, 2006 12:10pm Dec 18, 2006 12:10pm
As I understood, you cannot open an account if you don't fill the "Intermediate trader" form because they don't want to handle the segregated accounts.
  • #7
  • Dec 28, 2006 2:14am Dec 28, 2006 2:14am
I did a comparison of the spreads with Alpari with InterbankFX and MIG Investments using Alt+Prt Sc and three windows of Paint open so that I could paste all three snapshots of the spreads as quickly as possible (40 secs) and Alpari rated third against MIG and Interbank FX came in second.
The spread score using the Alpari list of Xpairs were Alpari -88; Mig INvestments -56; and Interbank FX - 83.
A better random sample can be gained by doing this regularly and especially at crucial news release times to see how much they increase the spread.
Do it yourself and have a look at the spreads and decide.
Frank
FrankieB
  • #8
  • Last Post: May 14, 2008 8:59am May 14, 2008 8:59am
Quoting iPlayGames
I've been demo trading Alpari UK for a month now, I have to say that I'm completely satisfied with them so far. I have tried numerous other MT4 borkers, and most of them have connection issues. Alpari UK does not have this problem.

But I haven't opened a real account with them so far, mainly because I feel uncomfortable with their terms for doing so. I've registered with them online, and I was classfied as an Expert/Experienced trader, and because of that, they say that FSA rules do not cover my money deposited with them.

I don't like that at all. and I wonder whether or not other brokers do the same? does anybody know?
Hi,
Just want to ask about the stuff you said you dont like, how far with it?
Alnames.
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