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Alpari in India — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%40
- Round-turn cost20%50
- Safety20%0
- Payouts15%60
- Track record10%100
- Platforms10%no data
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- Does NOT serve India - Alpari explicitly excludes Indian residents from opening accounts.
- Founded
- 1998
- Retail leverage
- 3000 group
- Round turn
- 15 USDIN
- Currencies
- USD, EUR, GBP, CZK; NGN reserved for Nigerian clients only.
- Swap-free account
- no
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Licence check
Open an account with AlpariThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards India residents
- Does NOT serve India - Alpari explicitly excludes Indian residents from opening accounts.
- Local standing
- Restricted and flagged: on the RBI Alert List; trading non-INR pairs offshore breaches FEMA, with penalties up to 3x the amount under Section 13.
- Licence as the register states it
- No SEBI/RBI authorisation; Alpari is listed on the RBI Alert List of unauthorised forex platforms.
- Leverage for this entity
- Not applicable - India is on Alpari's excluded-countries list.
- The firm behind it
- Alpari brand founded 1998 (Russian origin); one of the oldest retail forex names, now run offshore by Parlance Trading Ltd with 1M+ claimed clients.
- What we hold against it
- On RBI Alert List; India explicitly restricted; using Alpari from India carries FEMA legal exposure.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Indian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youRestricted and flagged: on the RBI Alert List; trading non-INR pairs offshore breaches FEMA, with penalties up to 3x the amount under Section 13.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against India market median(priced from 65 of 90)
Medians run over the 65 of 90 brokers that publish a price for India, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Micro (from USD 30, MT4 only), Standard (USD 100), ECN (USD 300), Pro ECN (USD 500). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where Alpari sits in the India base(90 brokers)
Round-turn cost, USD (65 of 90 priced)
Median 7 USD · range 2-18 · this broker 15 USD · 25 of 90 brokers do not publish it
Minimum deposit, USD (16 of 90 priced)
Median 15 USD · range 0-1000 · this broker 30 USD · 74 of 90 brokers do not publish it
Retail leverage (49 of 90 with a India figure)
Median 1:500 · range 20-5000 · this broker 1:3000 · 41 of 90 brokers do not publish it
Withdrawal time published (90 brokers)
Deposit and withdrawal methods (1 methods · 0 local rails)
Not applicable - country not served.
- Account currency
- USD, EUR, GBP, CZK; NGN reserved for Nigerian clients only.
- Fee declared
- 0 of 0 methods
- Withdrawal back to
- the funding method
Where it does not serve(10 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(2 platforms)
- MetaTrader 4
- MetaTrader 5
| Class | Min spread | Leverage |
|---|---|---|
| MetaTrader 4 | 0.3 | 3000IN |
| MetaTrader 5 | 0.3 | 3000IN |
138 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 132 more.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 3.8 | — |
Share of reviewers in India: — The platform does not publish it.
Pros and cons(1 for and 5 against, each tied to a figure on this page)
- Track record 100 of 100, its strongest of 6 scored axes
- Round turn 15 USD on the raw + commission basis, over the India median 7
- No India authorisation on file: the entity that onboards you is licensed elsewhere
- A regulator warning is on file against this broker
- Min deposit 30 USD, over the India median 15
- Safety 0 of 100, its weakest of 6 scored axes
Alternatives in India(6 of 90 scored in India)
- Round turn, USD
- 13IN
- Min deposit, USD
- 5 groupIN
- Leverage
- 3000IN
- Rank in this country
- #34
- Round turn, USD
- 14IN
- Min deposit, USD
- 5 groupIN
- Leverage
- 5000IN
- Rank in this country
- #51
- Round turn, USD
- 16IN
- Min deposit, USD
- 1000IN
- Leverage
- 100IN
- Rank in this country
- #25
- Round turn, USD
- 18IN
- Min deposit, USD
- 100 groupIN
- Leverage
- 2000 group
- Rank in this country
- #60
- Round turn, USD
- 10IN
- Min deposit, USD
- 15 groupIN
- Leverage
- 500 group
- Rank in this country
- #61
- Round turn, USD
- 4IN
- Rank in this country
- #4
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a India score. Full methodology
| Axis | Weight | What is measured | Alpari |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 40 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 50 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 60 |
| Track record | 10% | Years since the firm was founded, from its own filings | 100 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
FAQ
- Does Alpari accept residents of India?
- No. Restricted and flagged: on the RBI Alert List; trading non-INR pairs offshore breaches FEMA, with penalties up to 3x the amount under Section 13. Onboarding entity: Does NOT serve India - Alpari explicitly excludes Indian residents from opening accounts.
- Is Alpari licensed to serve clients in India?
- No SEBI/RBI authorisation; Alpari is listed on the RBI Alert List of unauthorised forex platforms. Checked on 09.07.2026.
- How much does one round turn cost at Alpari?
- About 15.0 USD per standard lot on EUR/USD. The median across brokers measured for India is 7.0 USD.
- What leverage does Alpari offer to retail clients in India?
- Up to 1:3000. Leverage Up to 1:500 Up to 1:1000 Up to 1:3000 Up to 1:3000 Margin call 50% 50% 80% 80% Stop out 20% 20% 50% 50% Markets Forex, Metals, Indices, Commodities, Cryptocurrency Forex, Metals, Indices, Com
- Which trading platforms does Alpari support?
- MetaTrader 4, MetaTrader 5. Instruments: 750+ instruments: forex, metals, indices, commodities, share CFDs and crypto CFDs.
- How can I withdraw money from Alpari in India?
- Not applicable - country not served.
- What account types does Alpari offer?
- Micro (from USD 30, MT4 only), Standard (USD 100), ECN (USD 300), Pro ECN (USD 500).
- Does Alpari offer a swap-free (Islamic) account?
- No. Alpari publishes no swap-free (Islamic) account for India.
Cost calculator (median of 65 priced of 90)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a INR conversion because the exchange rate is not part of our data.