Desk file · 2026 edition · record confidence: medium
Alpari
We opened the file on Alpari the way we open every file: register first, marketing never. Trading since 1998, run out of Fomboni, Island of Mohéli, Comoros (registered office of the operating entity), and carrying 1 licence entry on the public record, 0 of them tier-1.
What the two desk scores say
Both are out of 10 and both are computed, not felt.
| Cost score | Priced off the spread basis below, not off a headline rate card. | not verified |
|---|---|---|
| Safety score | Weighted on licence tier and on how many of the entries we could re-read at source. | not verified |
| Cost per 10 lots | Ten round-turn EUR/USD lots priced at the spread basis, commission excluded. | $not verified |
Spread basis. . Nothing on this page is a live quote; a spread printed on a Tuesday afternoon is not the spread you get thirty seconds after a non-farm payroll release.
Licence entries, one row per entity
Every row links to the document we read it from.
| Regulator | Licence no. | Jurisdiction | Tier | Licensed entity | Source |
|---|---|---|---|---|---|
| Mwali International Services Authority (MISA), Comoros | T2023236 | Comoros (Mohéli) | T3 | Parlance Trading Ltd (reg. HY00423015) | alpari.com |
Which entity actually holds your money is decided at signup, by the country on your application — not by the strongest licence in this table. Read the client agreement you are handed, then match the entity name against the row above.
What we were able to confirm
Confirmed at source
- Alpari's own site states the brand was founded in 1998 and that it serves more than 1 million clients.
- Alpari states it is licensed by the Mwali International Services Authority (MISA) as an International Brokerage and Clearing Company under number T2023236; MISA is a Comoros (Mohéli) offshore authority.
- Alpari's legal footer names the operating company as Parlance Trading Ltd, registered number HY00423015; the MISA registrar's public verification page lists the same licence number T2023236 against the name Alpari (Comoros) Ltd.
- Alpari (UK) Limited, a separate former UK group company, entered the Special Administration Regime on 19 January 2015 following the Swiss National Bank's removal of the EUR/CHF cap (source: FCA).
- The current Alpari offering is not covered by any tier-1 regulator's supervision.
- Alpari's Client Agreement (clause 7.8) states: "Your funds are held in our accounts, including segregated accounts opened in our name on your behalf for holding your funds. This is separate from our own funds" (https://alpari.com/en/documents/client-agreement/).
- Alpari's Client Agreement (clause 8.6) states a client who owes more than their account balance "will pay the amount representing the excess within two (2) Business Days of the obligation arising other than where negative balance protection exists under Applicable Regulation" — i.e. the agreement does not itself grant negative balance protection (https://alpari.com/en/documents/client-agreement/).
- Alpari's account comparison lists Micro (min $30, leverage up to 1:500), Standard ($100, up to 1:1000), ECN ($300, up to 1:3000) and Pro ECN ($500, up to 1:3000) accounts, and its leverage page states forex and metals leverage of up to 1:3000, cut to a maximum of 1:200 during Dynamic Margin Requirement periods around major news and market closures (https://alpari.com/en/trading-accounts/).
Not verified
The following could not be traced to a primary source at the time of filing. We publish the gap rather than a number that would look tidier:
- minDeposit
- maxLeverage
- spreadEurusd
- accountTypes
- segregatedFunds
- negativeBalanceProtection
- publiclyListed
- whether the MISA licence T2023236 is currently in force (registrar page listed an end date of 12 April 2025; renewal status not confirmed)
- account types
- negative balance protection
- spreadEurusd — the site publishes only advertised floors (Micro from 1.5 pips, Standard from 0.3, ECN from 0.1, Pro ECN from 0.0 plus commission); no typical EURUSD spread is stated, and the homepage live-rates snapshot (1.0 pip at capture) is not a spec figure
- negativeBalanceProtection — Client Agreement clause 8.6 makes clients liable for amounts exceeding their balance except where NBP exists under applicable regulation; no affirmative NBP statement was found in the Client Agreement, Terms and Conditions page or Risk Disclosure (checked 20 Aug 2026)
- publiclyListed — no investor-relations page or exchange listing found for the Alpari brand or its operating company Parlance Trading Ltd (a Comoros IBC); absence of a listing cannot be verified from a primary source
- MISA licence T2023236 current status — the registrar's public list page (https://mwaliregistrar.com/list_of_entities) sits behind a Cloudflare JS challenge and could not be queried (checked 20 Aug 2026); the seed's note that the register listed an end date of 12 April 2025 remains unconfirmed
- instruments — the live site also markets Stocks, ETF CFDs and Futures CFDs (MT5) beyond the seeded list, but the seeded array was left unchanged
| Founded | 1998 |
| Head office | Fomboni, Island of Mohéli, Comoros (registered office of the operating entity) |
| Minimum deposit | $30 |
| Leverage cap | up to 1:3000 (ECN/Pro ECN accounts); Micro up to 1:500; Standard up to 1:1000 |
| EUR/USD | not verified pips |
| Tier-1 entries | 0 |
| Record confidence | medium |
Platforms and account types on file
Platforms
Account types
Markets
Other records open on the desk
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A desk file is a record of what the public register said on the day we read it, not a recommendation to open an account.