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Is Alpari a Scam? Traders Still Burned in 2025
If you’ve been in forex long enough, you’ve heard the name Alpari. It’s one of the oldest brands in the industry, founded back in 1998, surviving booms, busts, and rebrands. For many years, Alpari marketed itself as a pioneer in online retail trading. But for traders who’ve lost money through shady practices, the brand’s age is not a guarantee of safety.
In fact, the company has a history filled with collapsed subsidiaries, offshore licenses, and repeated trader complaints. Today, the question lingers louder than ever: is Alpari a scam, or just another risky broker hiding behind old branding?
The Rise and Collapse
Alpari was once a heavyweight in global forex. It had offices in London, New York, Moscow, and beyond. But in 2015, after the Swiss Franc flash crash, its UK branch — regulated under the FCA — collapsed. (Wikipedia) Client funds went through a painful compensation process, and trust was shattered.
The US operations also shut down years earlier. Since then, Alpari’s surviving entities have leaned heavily on offshore regulators like the Comoros Mwali International Services Authority. This shift tells a story: from top-tier regulation to low-tier offshore havens.
🔗 Related read: How Offshore Forex Regulation Endangers Traders
The Complaints Never Stopped
Even with the rebrand to “Alpari International,” trader complaints pile up:
- On Forex Peace Army, multiple users say their profits were erased after successful trades, with excuses like “platform error” or “bonus violation.” (Forex Peace Army)
- Others describe deposits taking seconds but withdrawals dragging on for weeks, sometimes never arriving.
- On Trustpilot, Alpari has a mixed 4/5 average, but dig into the 1-star reviews and you’ll see reports of “blocked accounts,” “money vanished,” and “support ignoring me.” (Trustpilot)
- Forums like MyFXBook echo the same: “quotes manipulated,” “spreads widened when I was profitable,” and “positions closed without my action.” (MyFXBook)
The story is consistent across platforms and years: easy to put money in, painful to get it out.
🔗 Related: Why Withdrawal Failures Are the #1 Sign of a Scam
A Broker That Plays Both Sides
One of the strangest things about Alpari is how it exists in two worlds:
- It markets itself as a “legacy broker” with 20+ years of experience.
- At the same time, it hides behind low-tier regulators that provide almost no safety nets.
The offshore license in Comoros doesn’t enforce client protection schemes, doesn’t insure deposits, and doesn’t require high capital reserves. (BrokerChooser)
👉 In short: Alpari can use its brand history to attract traders — but once your funds are with the offshore entity, you’re on your own.
Hidden Fees and Bonus Traps
While Alpari loves to promote rebates and PAMM accounts, the small print is stacked against traders.
- Bonuses come with turnover rules that most retail clients will never achieve. Fail the turnover, and not only is the bonus gone — often your profits vanish with it.
- Overnight swaps are expensive compared to industry peers, making long-term trading difficult.
- Some users on Trustpilot reported unexplained commissions and conversion fees eating into withdrawals.
These aren’t random quirks — they’re designed friction points to keep your funds stuck.
🔗 Related: MT4/MT5 Broker Manipulation – How It Works
Scam Checklist: Does Alpari Match the Pattern?
| Red Flag | Alpari |
|---|---|
| Offshore, weak regulation | ✅ Yes |
| Withdrawal delays / denials | ✅ Yes |
| Profits erased via excuses | ✅ Yes |
| Aggressive bonus restrictions | ✅ Yes |
| Account freezes / manipulation | ✅ Yes |
| Safety analysts flag caution | ✅ Yes |
By any fair checklist, Alpari sets off multiple scam alarms.
🔗 See: Scam Broker Red Flags Every Trader Should Know
What To Do If You Lost Money
If you’ve lost money with Alpari, you’re not alone. Steps to take:
- Stop depositing immediately.
- Document everything — account statements, chat logs, withdrawal attempts.
- File a chargeback with your bank or card issuer.
- Complain to regulators (yes, even offshore ones) to build a paper trail.
- Share your story on sites like Trustpilot and Forex Peace Army.
- Read our guide: How to Recover Money from Scam Brokers
Final Verdict: A Legacy Brand With Scam-Like Behavior
Alpari loves to lean on its history — but the truth is, its strongest days ended with the collapse of its FCA-regulated UK branch. What remains is a patchwork of offshore entities, complaints of blocked withdrawals, and traders who feel cheated.
👉 Verdict: Alpari is not a broker we can recommend in 2025. While it may not be a “scam” in the strict legal sense, its practices mirror scam brokers far too closely.
If you value your capital, look instead at brokers with FCA, ASIC, or CySEC regulation and proven transparency.
🔗 Compare: Top Trusted Forex Brokers of 2025
