Alpari is a retail brokerage brand offering trading in the foreign exchange and contracts for difference (CFDs). The brand was founded in 1998 in Kazan, Russia, by entrepreneur Andrey Dashin. The brand has operated in a number of jurisdictions under local entities. As of 2025, AlpariâÂÂs international services are provided by Parlance Trading Ltd, licensed by the Mwali International Services Authority on the Comoros island of Mohéli.
Alpari previously operated regulated subsidiaries in the United Kingdom and United States, both of which ceased activity in 2015, and a licensed entity in Russia whose Bank of Russia license was annulled in 2018 with effect from January 2019.
The business began in Kazan, Russia, in 1998 and expanded internationally in the early 2000s.
Alpari (UK) Limited was authorised by the Financial Services Authority (later the FCA) in 2006 and offered FX/CFD trading and, for UK residents, financial spread betting. In May 2010 the firm was fined ã140,000 for anti-money-laundering systems and controls failings; its former MLRO was separately fined ã14,000.
On 15 January 2015 the Swiss National Bank removed its franc/euro cap, causing extreme FX volatility. The following day Alpari (UK) announced insolvency; on 19 January 2015 the English High Court appointed special administrators from KPMG under the Special administration|Special Administration Regime. At the time, Alpari (UK) was principal shirt sponsor of West Ham United F.C. (2013âÂÂ2015).
Alpari also operated a Cyprus office in 2010âÂÂ2013; its Cyprus Investment Firm authorisation (Alpari Financial Services Ltd, CIF 129/10) was voluntarily renounced in December 2012 and the office closed in early 2013.
The Russian entity Alpari Forex LLC obtained a local Forex dealer licence after Russia introduced licensing for retail FX in 2016âÂÂ2017. On 27 December 2018, the Bank of Russia announced it was annulling the licences of five FX dealers â including Alpari Forex â with effect from 27 January 2019, citing repeated violations of securities law.
Alpari (US), LLC became a member of the National Futures Association in 2007. Its NFA membership was revoked in April 2015, ending its ability to operate in the United States.
Alpari has operated using several entities over time. In November 2018, industry media reported that the Belize subsidiary was being closed with clients migrated to a Saint Vincent and the Grenadines entity.
From 2020 the brandâÂÂs international operations were marketed alongside FXTM under the Exinity umbrella. In July 2025, industry outlets reported that the Alpari brandâÂÂs management had been separated from Exinity and placed with Parlance Trading Ltd, a Mohéli (Comoros) company; AlpariâÂÂs website lists Parlance Trading Ltd (T2023236) as the operating licence and provides a Mohéli address.
In September 2022 the Reserve Bank of India published an âÂÂalert listâ of online FX trading platforms that are not authorised to operate in India; the list included âÂÂAlpariâÂÂ.
A separate London company, Alpari Research & Analysis Ltd (Company No. 09822850), provided market analysis; it was voluntarily struck off and dissolved in March 2020 and did not hold permissions to offer investment services.