Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare Alpari vs FXCM.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Alpari is a better option with a 4.00 star rating over FXCM's 3.50 star rating.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. FXCM is regulated in a major hub, Alpari isn't. FXCM is a publicly traded company, Alpari isn't. How many currency pairs are available to trade? FXCM trails Alpari by 9 total currency pairs (for example, EUR/USD), with Alpari offering 48 and FXCM offering 39.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Both Alpari and FXCM offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Both Alpari and FXCM provide clients with access to 31 total charting tools. Both brokers offer clients access to the same number of indicators (eg, moving averages), 51.
Overall, FXCM boasts 4.00 stars versus Alpari's 3.50 stars. And, when it comes to individual category awards, both Alpari and FXCM found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018.