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 examining the commissions and fees of FXCM, it's important to note that their pricing for forex trading tends to be slightly above the industry average. For its European Union, U.K., and Australia offerings, FXCM's standard account spreads on the EUR/USD averaged 0.78 pips as of May 2024. They do offer more competitive spreads for commission-based accounts at around 0.28 pips, although this doesn't include the commission, making the effective spread closer to 0.74 pips. For those who can trade higher volumes, FXCM provides an Active Trader Rebate Program (except in the U.K. or EU) that can reduce costs. However, it's important to know that participation in this program requires a substantial monthly trading volume of at least $10 million to benefit from rebates, and the available rebates are between $5 and $25 per million traded.
On the other hand, Alpari's commissions and fees structure lacks detailed average spread data, which makes direct comparison difficult. However, both FXCM and Alpari are rated identically with 4 stars out of five for their commissions and fees. Despite the same star rating, FXCM is ranked better in this category by ForexBrokers.com, coming in at 24th out of 63 brokers, while Alpari ranks 41st.
For traders deciding between FXCM and Alpari, both brokers provide competitive fee structures, but FXCM provides more detailed pricing information along with potential rebates for high-volume traders, albeit with higher initial costs. Alpari's lack of transparency concerning typical spreads may be a consideration for those seeking in-depth cost comparisons. Nonetheless, with both brokers sharing a 4-star rating, the choice may boil down to personal preferences regarding transparency and additional benefits for high-volume trading.
| 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.
When comparing the range of investments available with FXCM and Alpari, both brokers offer forex trading as a CFD or spot contract, making them suitable for forex enthusiasts. However, FXCM stands out by providing a wider selection of tradeable symbols, offering 440 compared to Alpari's 105. In terms of forex pairs, Alpari gives access to 46 pairs, which slightly surpasses FXCM's 43. Both brokers, however, fall short when it comes to offering exchange-traded securities on U.S. exchanges, such as buying shares in Apple. While neither allows for direct purchase of U.S. stocks, Alpari does extend the option to trade international exchange securities, allowing for investments like Vodafone shares on the London Stock Exchange.
For those interested in cryptocurrency, both FXCM and Alpari only offer trading in cryptocurrency derivatives rather than the actual cryptocurrencies. This limits crypto enthusiasts seeking tangible crypto assets. On the plus side, both platforms feature copy trading capabilities, catering to individuals who prefer to mimic successful trading strategies. FXCM edges out Alpari in overall investment offerings, with a 3.5-star rating compared to Alpari's 3 stars. According to ForexBrokers.com, FXCM ranks 47th out of 63 brokers based on range of investments, while Alpari finds itself at the lower end, ranked 63rd. This suggests that FXCM may provide a more diverse investment experience for traders seeking variety.
| 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.
FXCM and Alpari both provide comprehensive trading platforms designed to cater to diverse trading needs. Both brokers offer simulated trading through free demo accounts, allowing users to practice without financial risk. FXCM and Alpari also feature their own proprietary platforms and make trading accessible via Windows desktop and web-based platforms. MetaTrader 4 is supported by both brokers; however, only Alpari provides access to MetaTrader 5. When it comes to copy trading, FXCM supports ZuluTrade, while both brokers do not offer DupliTrade. The ability to execute trades directly from stock charts is available with both brokers, enhancing the trading experience through intuitive platforms.
FXCM slightly edges out Alpari with a five-star rating for trading platforms and tools, compared to Alpari's four stars. This is backed by FXCM’s impressive ranking as #6 out of 63 brokers according to ForexBrokers.com, while Alpari is positioned at #55. In terms of charting tools, FXCM provides 10 drawing tools, whereas Alpari offers 15. FXCM excels with a more comprehensive watchlist setup, offering 13 columns for fields compared to Alpari’s seven. These features underline FXCM’s commitment to providing a versatile trading environment, while Alpari remains a strong contender with its modern 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.
When it comes to mobile trading apps, both FXCM and Alpari have offerings for iPhone and Android users. They provide essential features like stock and forex price alerts and allow traders to view multiple time frames on stock or forex charts. FXCM stands out by offering 59 technical studies for charting, compared to Alpari's 30, and supports watchlist symbol syncing across devices, which Alpari lacks. Moreover, FXCM allows users to auto-save chart drawings, giving traders more flexibility in preserving their analysis, while Alpari does not offer this feature.
For traders prioritizing watchlist functionality, both platforms let users create watchlists with real-time quotes. However, FXCM receives higher user ratings, scoring 4.5 out of 5 stars, compared to Alpari's 4-star rating. According to ForexBrokers.com, FXCM is ranked 16th out of 63 brokers for mobile trading apps, reflecting user satisfaction, while Alpari is positioned at 56th. These features and rankings suggest that while both apps provide a solid trading experience, FXCM offers additional tools and functionalities that could appeal to more advanced or detail-oriented traders.
| 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 it comes to market research offerings, FXCM stands out with its comprehensive suite of tools and resources. Traders using FXCM benefit from daily market commentary, providing them with regular insights into market trends. The platform also includes forex news from top-tier sources such as Bloomberg and Reuters, ensuring users are well-informed. Additionally, FXCM offers advanced technical analysis tools from Trading Central, a sentiment-based trading tool displaying position ratios across currency pairs, and market research from TipRanks. An economic calendar is available, keeping traders updated on global news events. Rated 4.5 stars for research, FXCM holds the 11th spot out of 63 brokers on ForexBrokers.com.
On the other hand, Alpari offers a more limited selection of research tools. While it provides forex news from leading sources like Bloomberg and Reuters and includes an economic calendar, key features are missing in this broker's offerings. Unlike FXCM, Alpari lacks daily market commentary, a sentiment-based trading tool, and market research from TipRanks. Although Alpari benefits from the Autochartist tool for technical analysis, it does not offer resources from Trading Central. With a three-star rating for research, Alpari is positioned lower in the rankings, coming in at 57th place out of 63 brokers as reviewed by ForexBrokers.com.
| 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.
When it comes to educational resources for beginners, FXCM stands out as a strong option compared to Alpari. Both brokers offer more than 10 educational materials such as articles, videos, and archived webinars focused on Forex and CFDs. However, FXCM goes a step further by providing monthly online educational webinars, which are not available with Alpari. This feature is complemented by a searchable archive of recorded webinars, giving FXCM users convenient access to a wealth of learning materials at any time.
Additionally, both FXCM and Alpari offer educational videos specifically tailored for beginners, but FXCM also extends its video offerings to advanced traders, a resource Alpari lacks. Both brokers provide an investor dictionary, each covering over 50 investing terms. According to ForexBrokers.com's rankings, FXCM earns 4.5 stars and ranks 14th among 63 brokers in the Education category, whereas Alpari holds a 3-star rating and is ranked 48th. Overall, FXCM provides a more comprehensive educational experience that caters to both beginners and advanced users, offering a rich array of resources to enhance trading knowledge.
| 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 63 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 #58.
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 |
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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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