The LSE Directory / CFD and forex brokers
Alpari is a retail forex and CFD broker offering trading in currency pairs, metals, other commodities, stock indices, individual stocks, and cryptocurrency CFDs through the MetaTrader 4 and MetaTrader 5 platforms, plus its own web and mobile app. The broker supports several account types, including Standard, Micro, ECN and Pro ECN accounts, a free demo account, and PAMM accounts that let clients allocate funds to be traded by more experienced managers in exchange for a share of profits. Where Alpari differs from CFD brokers licensed by tier one regulators such as the FCA, ASIC or CySEC is that it now operates under a license from the Mwali International Services Authority on the Comoros island of Mohéli, an offshore regime with a lighter compliance and disclosure burden; this supports low minimum deposits (from $5) and leverage up to 1:1000 depending on instrument and region, terms regulated tier one brokers generally cannot match. It does not accept clients resident in the United States, the United Kingdom, the European Union, Japan, Canada, India and several other listed jurisdictions, and it has historically drawn much of its client base from Russian speaking traders in Russia, the CIS, and other emerging markets, a legacy of its Russian origin. Alpari was founded on 24 December 1998 in Kazan, Russia, by Andrey Dashin, launching as one of the first online platforms aimed at independent retail forex traders and later becoming an early adopter of MetaQuotes' MetaTrader software. Its corporate history includes several now defunct regulated entities under the same brand: Alpari (UK) Limited was authorized by the UK's FSA in 2006, was fined 140,000 pounds in 2010 for anti money laundering systems and controls failings, and went into insolvency on 16 January 2015 after the Swiss National Bank's removal of the franc/euro floor caused volatility that wiped out client and company capital; Alpari Forex LLC in Russia had its dealer license annulled by the Bank of Russia effective January 2019 for repeated securities law violations; and Alpari (US), LLC lost its National Futures Association membership in April 2015. India's Reserve Bank has listed Alpari on its alert list of unauthorized forex platforms since September 2022. From 2020 the international Alpari brand was marketed alongside sister brand FXTM under the Exinity Group, founded by the same Andrey Dashin. Reporting by Finance Magnates found that in mid-2025 the Alpari trademark and domain were transferred to a separate Comoros registered entity, Parlance Trading Ltd, which holds the same MISA license, with several senior Exinity executives departing the same period and no public confirmation from either side on whether the brand was sold or simply spun off; Alpari's own website still described the relationship as a partnership with Exinity at the time of this research.
