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Alpari in Nigeria — review, licence and costs
Cost calculator (median of 57 priced of 81)
Score (5 of 6 axes scored)
shown, not ranked: no reviews
Who actually onboards you
- Entity that onboards Nigeria residents
- Parlance Trading Ltd
- Local standing
- Offshore Tier-3 (Comoros MISA); not SEC-Nigeria authorised, but Alpari runs local naira banking and support.
- Licence as the register states it
- Held under Comoros MISA licence T2023236; no SEC Nigeria capital-market registration.
- Leverage for this entity
- Up to 1:3000 on forex/metals offshore; not capped by a Nigerian regulator.
- 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
- Strong local footprint and NGN rails, but the serving entity is offshore Tier-3 with no SEC-Nigeria protection.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Nigerian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore Tier-3 (Comoros MISA); not SEC-Nigeria authorised, but Alpari runs local naira banking and support.
- 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 Nigeria market median(priced from 57 of 81)
Medians run over the 57 of 81 brokers that publish a price for Nigeria, 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 / from ~NGN 1, 000, MT4 only), Standard (USD 100 / ~NGN 20, 000), 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.
Taxes for a Nigerian resident(1 rule)
- Trading profits are taxable and must be declared to the Nigeria Revenue Service (NRS, formerly FIRS).https://alpari.org/trading-accounts/deposit-withdrawals/nigeria-local-bank
Not tax advice. Check with the FIRS.
Deposit and withdrawal methods (1 methods · 0 local rails)
Local NGN bank transfer with no added commission, processed within ~24h via banks such as First Bank, GTBank and Zenith Bank.
- Account currency
- NGN base-currency accounts available to Nigerian clients (plus USD, EUR, GBP, CZK).
- Fee declared
- 0 of 0 methods
- Withdrawal back to
- the funding method
Where it does not serve(12 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(3 platforms)
- MetaTrader 4
- MetaTrader 5
- Alpari mobile app
Identical for every row: Min spread 1.2 · Leverage 3000 NG.
Pros and cons(3 for and 6 against, each tied to a figure on this page)
- Withdrawal in 24 h, one of 71 of 81 brokers here that publish a time
- Track record 100 of 100, its strongest of 5 scored axes
- 3 platforms: MetaTrader 4, MetaTrader 5, Alpari mobile app
- Round turn 8 USD on the raw + commission basis, over the Nigeria median 6.5
- No Nigeria authorisation on file: the entity that onboards you is licensed elsewhere
- Min deposit 30 USD, over the Nigeria median 20
- The published 1:3000 comes from the group's offshore entity, not from the Nigeria one
- Safety 0 of 100, its weakest of 5 scored axes
- Not scored on reviews: the broker publishes no figure we could read
Alternatives in Nigeria(6 of 81 scored in Nigeria)
- Round turn, USD
- 6NG
- Min deposit, USD
- 50 groupNG
- Leverage
- 500NG
- Rank in this country
- #12
- Round turn, USD
- 6NG
- Min deposit, USD
- 20NG
- Leverage
- 200NG
- Rank in this country
- #10
- Round turn, USD
- 7NG
- Min deposit, USD
- 10 groupNG
- Leverage
- 200NG
- Rank in this country
- #13
- Round turn, USD
- 6NG
- Min deposit, USD
- 10NG
- Leverage
- 3000NG
- Rank in this country
- #26
- Round turn, USD
- 6NG
- Min deposit, USD
- 50NG
- Leverage
- 1000NG
- Rank in this country
- #18
- Round turn, USD
- 6NG
- Min deposit, USD
- 5NG
- Leverage
- 5000 group
- Rank in this country
- #30
"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.
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 Nigeria score. Full methodology
| Axis | Weight | What is measured | Alpari |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | — |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 85 |
| 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 | 80 |
| 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 |
— the broker does not publish this figure; it is not read as a zero and it is not scored.
Where Alpari sits in the Nigeria base(81 brokers)
Round-turn cost, USD (57 of 81 priced)
Median 6.5 USD · range 3-20 · this broker 8 USD · 24 of 81 brokers do not publish it
Minimum deposit, USD (29 of 81 priced)
Median 20 USD · range 0-100 · this broker 30 USD · 52 of 81 brokers do not publish it
Retail leverage (53 of 81 with a Nigeria figure)
Median 1:500 · range 100-3000 · this broker 1:3000 · 28 of 81 brokers do not publish it
Withdrawal time published (81 brokers)
FAQ
- Does Alpari accept residents of Nigeria?
- No. Offshore Tier-3 (Comoros MISA); not SEC-Nigeria authorised, but Alpari runs local naira banking and support. Onboarding entity: Parlance Trading Ltd
- Is Alpari licensed to serve clients in Nigeria?
- Held under Comoros MISA licence T2023236; no SEC Nigeria capital-market registration. Checked on 09.07.2026.
- How much does one round turn cost at Alpari?
- About 8.0 USD per standard lot on EUR/USD. The median across brokers measured for Nigeria is 6.5 USD.
- What leverage does Alpari offer to retail clients in Nigeria?
- Up to 1:3000. Up to 1:3000 on forex/metals offshore; not capped by a Nigerian regulator.
- Which trading platforms does Alpari support?
- MetaTrader 4, MetaTrader 5, Alpari mobile app. Instruments: 750+ instruments: forex, metals, indices, commodities, share CFDs and crypto CFDs.
- How can I withdraw money from Alpari in Nigeria?
- Local NGN bank transfer with no added commission, processed within ~24h via banks such as First Bank, GTBank and Zenith Bank.
- What account types does Alpari offer?
- Micro (from USD 30 / from ~NGN 1,000, MT4 only), Standard (USD 100 / ~NGN 20,000), ECN (USD 300+), Pro ECN (USD 500).
- Does Alpari offer a swap-free (Islamic) account?
- No. Alpari publishes no swap-free (Islamic) account for Nigeria.