Written by ForexBrokers.com
In this head to head comparison of FXCM vs Alpari, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM, established in 1999, is a well-regarded online broker known for its strong regulatory standing. As a publicly traded company, FXCM boasts 4 Tier-1 licenses, which are seen as a mark of high trust in the industry, alongside 2 Tier-2 licenses. This extensive regulatory backing contributes to its impressive Trust Score of 95 out of 99, reflecting a high level of confidence in its operations and protections for clients.
In contrast, Alpari, founded in 1998, operates privately and lacks any Tier-1 or Tier-2 licenses, which impacts its perceived reliability. Alpari's Trust Score sits at 68 out of 99, categorizing it among brokers with high risk according to industry standards. While both brokers are not banks, FXCM's listing on the stock exchange and robust regulatory framework make it a more trusted option for traders concerned with security and transparency.
| Feature |
FXCM
|
Alpari
|
|---|---|---|
| Year Founded | 1999 | 1998 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 0 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees of FXCM and Alpari, FXCM offers a slightly higher pricing structure for forex trades than the industry average. For its standard accounts, FXCM's EUR/USD spreads in May 2024 averaged 0.78 pips in the EU, U.K., and Australia, while the spreads were 1.38 pips in St. Vincent and the Grenadines, which is above the norm. However, for commission-based accounts, the average spread was 0.28 pips, excluding commissions. FXCM also offers an Active Trader Rebate Program for traders meeting monthly trading volume and account balance requirements, providing spreads discounts depending on the traded volume and the availability of the program in your country.
In contrast, specific average spread data for Alpari is not available, making it difficult to provide a direct spread comparison with FXCM. However, based on the ratings and rankings by ForexBrokers.com, both FXCM and Alpari received 4 out of 5 stars for their commissions and fees. Despite their similar star ratings, FXCM ranks higher at #24 out of 62 brokers in the Commissions and Fees category, while Alpari is positioned at #41.
Ultimately, FXCM provides a range of pricing options tailored to active traders with the opportunity for further rebates based on trading volumes, although other brokers might offer more competitive rates. Meanwhile, Alpari's absence of detailed spread data leaves potential users without a clear basis for comparison, though both brokers are recognized positively in the industry based on their rankings.
| Feature |
FXCM
|
Alpari
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $20 |
| Average Spread EUR/USD - Standard | 0.78 | N/A |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FXCM and Alpari both offer forex trading either as a CFD or spot contract, catering to those interested in the foreign exchange market. FXCM provides a wider selection with 440 tradeable symbols, compared to Alpari's 105 symbols. However, when specifically considering forex pairs, they are closely matched, with Alpari offering 46 and FXCM slightly trailing at 43. Neither platform enables trading physical U.S. exchange securities like Apple shares, but Alpari offers access to international exchanges, allowing investments in companies such as Vodafone, which FXCM does not support. Both brokers support crypto derivatives, although they do not offer the feature to buy actual cryptocurrencies.
In terms of additional features, both FXCM and Alpari facilitate copy trading, an attractive option for those preferring to mirror the trades of experienced investors. When evaluating the overall range of investments, FXCM edges out with a rating of 3.5 stars, ranking 47th among 62 brokers, while Alpari holds a 3-star rating and ranks 62nd. This indicates a broader potential investment offering with FXCM compared to Alpari, appealing to those seeking a more diverse portfolio within the realm of forex trading and beyond.
| Feature |
FXCM
|
Alpari
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 105 |
| Forex Pairs (Total) | 43 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing FXCM and Alpari for trading platforms and tools, both brokers offer users the ability to engage in simulated trading through free virtual demo accounts. They both provide proprietary platforms developed in-house, Windows-based desktop download platforms, and web-based browser platforms. Additionally, both brokers support copy trading and trading directly from stock charts. However, FXCM stands out with unique features, offering ZuluTrade and ranking higher in the Trading Platforms and Tools category, with a 5-star rating and a rank of #6 out of 62 brokers.
FXCM and Alpari both support the popular MetaTrader 4 (MT4), but Alpari goes a step further by also offering MetaTrader 5 (MT5). While neither broker supports DupliTrade, FXCM gives traders the option to use ZuluTrade, which Alpari does not. In terms of charting tools, Alpari offers more drawing tools than FXCM, with 15 compared to FXCM's 10. Additionally, FXCM provides more flexibility with 13 columns for watchlist customization, as opposed to Alpari's 7. Alpari is ranked #55 with a 4-star rating for Trading Platforms and Tools, indicating room for enhancement when compared to FXCM's offerings.
| Feature |
FXCM
|
Alpari
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FXCM and Alpari cater to mobile traders by offering apps compatible with iPhone and Android devices. They provide critical features such as price alerts and the ability to draw trendlines on charts. FXCM takes a step ahead by enabling watchlist symbol syncing, ensuring seamless integration between the mobile app and a client’s online account, a feature absent in Alpari's app. On charting capabilities, FXCM impresses with 59 technical studies compared to Alpari’s 30, offering traders more analytical tools on the go.
FXCM’s mobile app also autosaves drawings on charts, a convenience not available with Alpari. Both platforms allow the creation of watchlists with real-time quotes, enhancing trade monitoring. When it comes to user ratings, FXCM edges ahead with 4.5 stars and ranks 16th out of 62 brokers in the Mobile Trading Apps category, according to ForexBrokers.com. In contrast, Alpari is rated 4 stars and stands at the 56th position, highlighting a significant gap in perceived user experience and features offered.
| Feature |
FXCM
|
Alpari
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing FXCM and Alpari for market research offerings, several differences stand out. FXCM provides daily market commentary, a feature not offered by Alpari. Both brokers supply forex news from top-tier sources such as Bloomberg and Reuters, ensuring traders have access to reliable information. However, FXCM shines with its range of research tools, offering insights from Trading Central and sentiment-based trading tools that provide a broader view of market conditions. In contrast, Alpari features tools from Autochartist but lacks Trading Central's capabilities and sentiment tools.
FXCM also enhances its research services with market analysis from TipRanks and maintains comprehensive economic calendars, a service matched by Alpari. Despite this, FXCM consistently earns higher ratings, scoring 4.5 stars for research compared to Alpari's 3 stars. In rankings by ForexBrokers.com, FXCM holds the 11th position out of 62 brokers, while Alpari is ranked at 57, underscoring FXCM's stronger market research offerings. This combination of services makes FXCM a more appealing choice for those who value a thorough and varied approach to market research.
| Feature |
FXCM
|
Alpari
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FXCM and Alpari both provide a solid foundation of educational resources for those new to trading forex and CFDs. While each offers over ten educational pieces such as articles and videos with a focus on forex and CFDs, FXCM stands out by providing monthly educational webinars. Additionally, FXCM maintains a searchable archive of recorded webinars, a feature Alpari does not offer. Both brokers cater to beginners with at least ten educational videos, but FXCM further distinguishes itself by also offering advanced educational videos for more experienced traders, which Alpari lacks.
When it comes to comprehensive educational support, FXCM also offers an investor dictionary with more than 50 investing terms defined, a resource matched by Alpari. Despite some similarities, FXCM takes the lead in overall educational offerings, earning a rating of 4.5 stars compared to Alpari's 3 stars. In rankings by ForexBrokers.com for educational resources, FXCM holds the 14th position out of 62 brokers, whereas Alpari is ranked at 48. These distinctions highlight FXCM as a more resource-rich platform for those beginning their trading journey.
| Feature |
FXCM
|
Alpari
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that FXCM is better than Alpari. FXCM finished with an overall rank of #15, while Alpari finished with an overall rank of #57.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
|
Alpari
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 68 |
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Both FXCM and Alpari do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
FXCM and Alpari are online brokers providing various deposit and withdrawal options: FXCM supports ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, while Alpari offers Skrill, Visa, Mastercard, and bank wires, but lacks ACH, SEPA, and PayPal options.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | FXCM | Alpari | |
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| Trust Score | 95 | 68 | |
| Winner | check_circle | ||
| Review | FXCM Review |
| Broker Screenshots | FXCM | Alpari | |
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| Regulation | FXCM | Alpari | |
|---|---|---|---|
| Trust Score | 95 | 68 | |
| Year Founded | 1999 | 1998 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 4 | 0 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | Alpari | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FXCM | Alpari | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FXCM | Alpari | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 105 | |
| Forex Pairs (Total) | 43 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FXCM | Alpari | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | N/A | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | Alpari | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $20 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | Alpari | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | Alpari | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | Alpari | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FXCM | Alpari | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | Alpari | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FXCM | Alpari | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FXCM Review |
| Overall | FXCM | Alpari | |
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| Trust Score | 95 | 68 | |
| Winner | check_circle | ||
| Review | FXCM Review |
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