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Alpari Offers Commission-Free ECN Accounts

Russia-based FX broker Alpari has sped up its efforts to lure more customers with various promotions over the past months: in the beginning of February, the company launched the “Goodbye to Swaps” offer, which allowed traders to free themselves from paying fees for keeping their trades open overnight. And yes, this promotion (which is still active, by the way) has been of somewhat dubious lucrativeness for traders, but then Alpari announced improved trading terms for its Metatrader 4 (MT4) accounts, including tighter spreads, faster execution speeds, and cuts in margin requirements.

 
The brokerage is now continuing with its efforts to boost the quality and variety of its services, and on Monday it announced the introduction of three new trading account types to its Electronic Communication Network (ECN) offering. 
We all know why traders love ECN accounts – they allow direct interaction with other participants in the Forex market, with no middlemen (and the associated complications and extra expenses) involved; and, of course, there are the lower spreads.
 
But then, ECN accounts also have some disadvantages, including that they often require larger investment than standard accounts – but Alpari has tackled this problem, as the broker has removed the minimum deposit requirement for opening an ECN.MT4 account, while the requirement for an PAMM.ECN.MT4 account pretty low at $1. The deposit required for the ECN.Zulutrade accounts is $200. That's it. Not so bad, ha?
 
Another negative side of ECN accounts are the commissions that a trader has to pay along with spreads. And Alpari is now seeking to tackle this issue with the introduction of the new ECN account types that are commission-free! I just yelled with excitement but the deal is not so straightforward, as it may seem: the lack of commissions comes at the expense of larger spreads – that is, the commissions will be calculated within the spreads. You will be free from commissions starting at $5, but then the spreads would be wider.
 
If you opt for a new ECN account at Alpari, you can choose among three types: the ecn-new.MT4 account, which is for individual traders; the pamm.ecn-new.mt4, which allows you to take part in  a percentage allocation management module (PAMM) with other individual traders; and the ecn-new.zulutrade, which is for fans of social trading, as it is suitable for those who'd like to follow signal providers on the famous ZuluTrade network.
 
In exchange for getting rid of the commission fees, you'll be facing spreads starting from 0.3 pips if you choose the new individual or PAMM ECN accounts: this compares with spreads starting from 0.1 pips for the old ECN accounts. You may look at this as a rise by 0.2 pips or as a triple rise! The new ECN accounts with Zulutrade involve minimum spreads of 2.3 pips, compared with 2.1 pips for the old ECN accounts. One more time, we see that there's no free lunch in the Forex world, fellow traders. 
 
Regardless of the dubious nature of the current promotion, Alpari seems to be doing more than nicely when it comes to attracting clients and running its business. At least that's what its performance shows over the past months – in March, the brokerage posted record trading volumes. We'll be curious to see whether the new ECN line-up will add to the corporative success and we'll keep you up to date with the developments!
 
 

About Alpari

 
Founded in 1998, the international Alpari brand is one of the leading names in online Forex trading and was recently listed as the world's third largest broker in a 2012 report from online financial portal Forex Magnates, with an average monthly trading volume of more than 200 billion US dollars.
 
Alpari has earned the trust of hundreds of thousands of clients in more than 150 countries across the world, thanks in large part to its reputation for delivering high-quality products and top-notch customer support. The Alpari brand is represented in many of the world's leading centers of commerce, with offices in New York, London, Tokyo, Dubai, Frankfurt and Moscow.
TAGS: alpari  russia  forex brokers  forex trading  commissions  ecn  spreads  zulutrade  mt4  pamm  swaps  promotion 

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