Introduction
Alpari is one of the oldest names in forex trading, founded back in 1998. Over the years it has built global brand recognition, offered MT4/MT5 trading, and attracted millions of accounts. On the surface, this makes Alpari look like a trustworthy broker.
But traders must look past the branding. Alpari’s history includes collapsed branches, offshore licenses, and repeated accusations of withdrawal failures and manipulation. Today, the company mainly operates under low-tier regulators that offer little to no protection.
In this 2025 review, ForexTradingScam.com exposes why Alpari has been repeatedly accused of scam-like behavior.
A Long History with Serious Failures
- Founded in Russia in 1998. (Wikipedia)
- Expanded worldwide, with subsidiaries in the UK and US.
- Alpari UK collapsed in 2015 after the Swiss Franc crisis, leaving clients stranded. (Wikipedia)
- Alpari US was forced to shut down earlier due to regulatory failures.
- Current international operations run via Comoros (Mwali International Services Authority) — a weak, offshore regulator.
👉 This trajectory shows a fall from strong jurisdictions to offshore loopholes.
🔗 Related: How Offshore Forex Regulation Endangers Traders
Trader Complaints Keep Piling Up
Withdrawal Issues
- Forex Peace Army: Multiple reports of deposits being instant but withdrawals delayed or refused. (FPA)
- Some users say large withdrawals are blocked, with endless “verification” excuses.
Profit Disappearances
- Traders on MyFXBook claim profits are wiped with explanations like “platform errors.” (MyFXBook)
- Sudden requotes and price manipulation accusations are common.
Mixed Reputation
- On Trustpilot, Alpari holds a 4/5 average. But the 1-star reviews highlight serious concerns:
- “Money vanished from my account.”
- “Blocked withdrawal requests.”
- “Customer service ignored me.” (Trustpilot)
👉 The consistency across platforms makes these complaints hard to dismiss.
🔗 Related: Why Withdrawal Failures Are the #1 Sign of a Scam
Regulation: Weak and Offshore
- Alpari now operates under Comoros (Mwali International Services Authority).
- This regulator does not enforce client compensation funds or strict oversight.
- BrokerChooser flags Alpari as “not regulated by any top-tier authority.” (BrokerChooser)
- Past FCA and US licenses no longer exist.
👉 Today’s Alpari is a shadow of its regulated past.
Bonus Schemes and Hidden Costs
Alpari uses promotions to attract deposits, but these often create traps:
- Turnover requirements on bonuses that are nearly impossible to achieve.
- High overnight swap fees, making longer trades unprofitable.
- Hidden commissions and conversion costs that reduce actual withdrawals. (DailyForex)
These tactics keep funds locked and prevent profitable exits.
🔗 Related: MT4/MT5 Broker Manipulation – How It Works
Scam Checklist: Does Alpari Fit?
| Warning Sign | Alpari |
|---|---|
| Offshore, weak regulator | ✅ Yes |
| Withdrawals blocked/delayed | ✅ Yes |
| Profits erased or adjusted | ✅ Yes |
| Aggressive, restrictive bonuses | ✅ Yes |
| Poor customer support | ✅ Yes |
| Analysts warn of risk | ✅ Yes |
👉 Alpari matches nearly every scam broker red flag.
🔗 See: Scam Broker Red Flags Every Trader Should Know
What To Do If You Lost Money with Alpari
If you feel cheated by Alpari:
- Do not deposit more.
- Save every record: emails, withdrawal requests, account logs.
- File a chargeback with your bank or card issuer.
- Complain to regulators, even if offshore.
- Warn others by posting on FPA, Trustpilot, or Reddit.
- Learn from our guide: How to Recover Money from Scam Brokers
Final Verdict: Alpari’s Legacy vs. Today’s Reality
Alpari once carried the weight of a global brand. But its regulated entities collapsed, and what remains is an offshore broker with a trail of withdrawal complaints, profit manipulation claims, and regulatory gaps.
👉 Verdict: While not officially declared a scam, Alpari exhibits scam-like behavior in 2025. Traders are far better off choosing brokers with FCA, ASIC, or CySEC oversight.
🔗 Compare safer options: Top Trusted Forex Brokers of 2025