I’ll get straight to the point. Is Alpari UK a good forex broker? Alpari already aproved my live account but I didn’t fund it yet. I’ll be planning to fund the account with my credit card. I’m hesitating to fund the account because I read online about some brokers being scammers. I was going make an account with markets.com but I tried to check if it was legit by googling. I found a few people saying that they we’re victims of the scam od markets.com. So, yeah… I got a bit scared.
I recommend having a good old fashioned google of the topic, forexpeacearmy.com and the reviews on cashbackforex.com. Although the forums here are really helpful, with anything commercial, the brokers are trawling through here always trying to add their two cents.
While I’ve got no opinion on Alpari, I can recommend doing your own unbiased & independent research on the interwebz. Also try phoning Alpari, it’s too easy at the moment to apply online. In an instance where your stops get run, you have trouble withdrawing your funds or you get bad fills etc. you want to make sure they’re easily contactable by telephone.
I’ve had accounts with Forex.com (Gain), GFT, Oanda, and Alpari UK
I would rate Alpari UK as the best of the bunch. I only trade the majors however, so if you’re planning on trading their non-forex stuff, or the exotics, I cannot vouch for those services. But if you’re worried about withdrawing your money/profits, I’ve withdrawn money many many times from them, and have always had the money in my bank account within 1 business day.
now you just have to worry about beating the market
You have a point about brokers adding their two cents worth on threads like this. Could you tell on how I can find a good broker? Like how should I research about them. Or if you want to, you could recommend me some brokers to check out?
I’d search the two websites I mentioned previously. If you’r trading a higher timeframe, then an MT4/big broker is fine, XM, Oanda, Alpari (I’m guessing), ibFX etc.
For me, I’d be looking at where they’re based, any regulation, the spread they offer on the majors & any other fees & commissions.
If you want an ECN type broker, or you trade a smaller timeframe, I recommend DukasCopy, who I’m currently with. Fast execution, tight spread, good service, but they do charge a commission per trade.
People may use more than one broker, for example, I use DUkasCopy for trade execution, but I use Oanda and XM for charting and MT4 (on a demo account), primarily for their volume feeds.
That makes me feel better about making Alpari as my broker. I’ll still do some research though. Is it me or a lot of the more experienced brokers have more than 1 broker? Why is that? I know you said had so you probably just use 1 right now. But I’ve heard of people having more than 1 broker. Just curious.
What are you talking about? Paying via credit card is cheaper and faster than a wire transfer. You don’t pay a cent to your CC if you pay it off during the grace period. Alpari UK charges 1.75% unless you deposit >$3000.
I have had a live account with alpari uk for a couple of weeks and everything is fine. I would pay by debit card if i was you because of the 1.8% charge. If you email them with a problem they get back to you within 24hrs. they also have live chat. the only thing i would say is a lot of people who work for them write in english but you get the feeling english isnt their first language. i would recommend alpari uk tho.
If all possible, do not fund your trading account using Credit Card rather saved up for the capital that you will use. If you don’t have enough, then stick with the demo until you have the money.
Funding for trading should be separate for all your daily expenses or bills. You will value more your money when you save up for it than “easily” transferring from Credit Card… and most people are not discipline enough to pay it off by the end of the month. When that money lose, its double whammy… you lose your money then you worry about paying it back…
In my view, we can’t really compare us to the government in a sense on how we run our finances. The government have all the resources in their possession when (not if) they are short in cash. They can raise taxes to everyone, they can print money if they want, and they can raise interest rate are just an examples. Do you think you can print money in your garage when you are short in cash? Do you think the Congress will “bail you out” when you are in deep trouble financially? Though, I am trying to stay away with politics because it is beyond me how they operate and maybe you know more than I do but it is clearly shown that they do not know how to tackle this “debt” because up to right now our country (US) is still in Trillion dollars worth of debt that doesn’t seems to go away…
Any forms of debt such as credit card, mortgage, car loans, student loans, or personal loan from your drunk uncle Larry are needs to be paid unless they have such a good “heart” that they will forgive that debt…
It’s all good guys. I have enough funds with me for a $200 account. The problem is that my debit card isn’t a master or a visa card. I can only fund it with my credit card, which is a master card. If I do fund the account with my credit card, I can pay my whole credit card bill when it’s due. I use my credit card to borrow money for free for a month. Then just pay the whole bill without interest on the due that. What I only pay extra on is the annual credit card fee. What I’m worried about is the fee of my bank, the broker or both. For funding an account which is in USD when I’m from the Philippines, making my credit card charges be in PHP. I’ll do more research on that. I’m not rushing into opening another live account anyways. (I have a local forex broker already) Thanks for the info guys.
Sometimes brokers do rebate the fees back into your accounts. I have opened an account with a few brokers and some of them were willing to rebate the fees back into my account. So maybe try to speak with your broker and see what arrangement they can come up with for you.
Funding by credit/debit card does have its advantages because some brokers allow you to withdraw your capital and profits via credit/debit card. This way you can save on withdrawal fees or wire fees if your broker is from another country. If you do plan to withdraw your money via this method, then debit card would be better because if you were to withdraw by credit card, then your money will only stay as credit - meaning the only way to use the money is via your credit card (that was my experience). But if you withdraw by debit card, it will go back as cash into your bank account.
As for Alpari, like all other brokers, they have their A,B,C books. If somehow you can negotiate your way to get your broker to A book you, then that would be the best. They generally are more willing to do that if you can guarantee a certain amount of volume transaction per month or maybe deposit more starting capital.
