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 FXCM and Alpari in terms of commissions and fees, both brokers garner a respectable rating of four stars. However, a closer look reveals that FXCM takes a slight edge with its #25 ranking out of 63 brokers in the Commissions and Fees category by ForexBrokers.com, compared to Alpari's #41 ranking. FXCM is known for its active trader discounts, which can help reduce costs depending on trading volume and geographic location, although its standard pricing can be higher than the market average.
FXCM offers a complex fee structure, with spreads varying across different regions. For instance, average spreads on the EUR/USD stand at 0.78 for the broker's EU, U.K., and Australian clients, while those for St. Vincent and the Grenadines are higher at 1.38. If traders choose commission-based accounts, they can take advantage of lower average spreads of 0.28 pips, excluding commissions. Active traders may benefit substantially from tiered rebates, potentially reducing costs, although the broker doesn’t always match the competitive pricing of some rivals like Tickmill and FP Markets.
Alpari, while parallel in its star rating, lacks readily available average spread data. This lack of transparency makes it challenging to thoroughly analyze how Alpari's fees stack up against those of FXCM. However, Alpari's lower ranking suggests that when it comes to fee structures and commissions, it may not provide as cost-efficient an offering as FXCM, particularly for those engaging in high-frequency or large-volume trades. Despite similar star ratings, prospective clients might lean toward FXCM for potential cost savings through its strategic discount programs.
| 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 FXCM and Alpari as online brokers, both offer options for forex trading, providing it through CFDs or spot contracts. At first glance, FXCM presents a broader variety of tradeable symbols, offering access to 440 different options. In contrast, Alpari provides 105 tradeable symbols. However, both brokers offer an identical range of 46 tradeable forex pairs, catering to clients interested in currency trading. Neither FXCM nor Alpari allows clients to purchase exchange-traded securities on U.S. exchanges, but Alpari distinguishes itself by offering access to international exchanges, enabling the buying of stocks like Vodafone.
FXCM and Alpari both support copy trading, making them appealing to investors looking to follow experienced traders. When it comes to cryptocurrencies, neither broker allows the purchase of actual cryptocurrencies. Still, they both offer cryptocurrency derivatives. For those keen on variety, FXCM holds an edge, earning a range of investments rating of 3.5 stars compared to Alpari's 3 stars. This difference is also reflected in their rankings by ForexBrokers.com, where FXCM is placed at #47 out of 63, whereas Alpari trails at #63, highlighting FXCM's slightly broader investment options.
| Feature |
FXCM
|
Alpari
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 105 |
| Forex Pairs (Total) | 46 | 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 comparing FXCM and Alpari for market research, distinct differences emerge between the two online brokers. FXCM provides its clients with daily market commentary, complemented by forex news sourced from top-tier institutions such as Bloomberg and Reuters. This robust offering is enhanced by tools like Trading Central for technical analysis and a sentiment-based trading tool for insights on currency positions. FXCM also boasts market research from TipRanks and offers an economic calendar for tracking global news events. With these resources, FXCM garners a strong 4.5-star rating and ranks 11th out of 63 brokers for research according to ForexBrokers.com.
Alpari, on the other hand, does not offer daily market commentary, though it matches FXCM's commitment to providing forex news from reputable sources like Bloomberg and Reuters. A noteworthy advantage for Alpari is its inclusion of Autochartist for technical and fundamental analysis, though it lacks Trading Central's tools and a sentiment-based trading tool. Like FXCM, Alpari presents its users with an economic calendar for global news tracking. With a 3-star research rating, Alpari is positioned 57th among 63 brokers in ForexBrokers.com's research category ranking, making it a more modest choice in comparison to FXCM.
| 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 | |
| Signal Centre (Acuity Trading) | 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 |
| 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) | |||
| 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) | |||
| 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) |
| Investments | FXCM | Alpari | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 105 | |
| Forex Pairs (Total) | 46 | 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 | ||
| 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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