With Forex trading having grown immensely in popularity throughout Nigeria in recent years, a multitude of online Forex brokers have become available to Nigerian traders.
However, with so many options to choose from, it can be difficult to find a broker which is reputable, well-regulated, and which offers excellent trading conditions. In this Alpari review we take a closer look at the broker’s offering to Nigerian traders.
Alpari’s trading conditions
The broker is part of the well-known Alpari brand, which has been around for two decades, and operates in Nigeria. Benefits include favourable spreads, fast withdrawals, and regular promotions.
Alpari’s asset selection is extensive, with nearly six dozen currency pairings, commodities, and cryptocurrencies available to trade on the platform.
The variety is astounding, ranging from gold to Etherium. There are four base currencies in use, namely the U.S. dollar, the euro, the British pound, and the Nigerian naira.
A wide range of trading accounts are available at Alpari International, with some commission-free and others commission-based, with spreads starting at 0.4 pips for some accounts.
As such, this spread offering is extremely competitive, and the availability of commission-free trading will certainly suit many traders. Read the comprehensive Alpari Review for Nigerians.
Alpari’s trading platforms
Alpari provides traders to the full MetaTrader suite from MetaQuotes, which consists of MetaTrader 4 and MetaTrader 5. Both of these platform options are incredibly popular for their range of features and user-friendly interfaces.
MetaTrader 4 offers an easy-to-use interface and a wide range of charting tools. There are a wide variety of supported trading strategies, indicators, and scripts available. To top it all off, the program is designed to run on mobile devices.
Compared to its predecessor, MetaTrader 5 is equipped significantly advanced functionality. Many new scripts and indicators in MQL5 have been added, as well as the ability to quickly back-test.
Over three dozen indicators and over a dozen graphic items make it an excellent option for experienced traders.
Alpari’s regulation
Alpari is regulated by the FSC in Mauritius, which is a reputable regulator. While the broker is not regulated elsewhere, its parent company, Exinity Group, is regulated by the CMA in Kenya and FCA in the UK.
As such, Alpari International falls under a broad regulatory framework, while the broker has a strong reputation for good conduct and transparency. Alpari makes use of SSL encryption, and all of its client funds are stored in segregated accounts to safeguard against any potential misappropriation.
Customer support
The customer support team at Alpari is highly responsive and trained, and there are several channels to contact the support desk, including through live chat and email.
Final Thoughts
Alpari International provides numerous trading benefits to Nigerian traders, including tight spreads, commission-free trading accounts and good customer support.
Traders will have access to both MetaTrader 4 and 5, as well as a proprietary trading app, providing a strong selection of trading software to support a wide range of trading strategies and experience levels.
While Alpari is only regulated by the FSC in Mauritius, the broker falls under the broader regulatory arm of its parent company.
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