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Alpari.co.uk Discussion

  • #2,121
  • Jan 19, 2015 10:51am Jan 19, 2015 10:51am
Interesting is also that they took off the website "The Alpari Team" on the Alpari Russia website http://alpari-forex.com/en/company/team/
2 days ago it was still available. But its still in google cache available: http://webcache.googleusercontent.co...&ct=clnk&gl=de
  • #2,122
  • Edited 11:05am Jan 19, 2015 10:56am | Edited 11:05am
Quoting Berserker
{quote} Great, let us know when they get back to you. Who are the administrators? Sorry, Got it - @Richard Heis, Samantha Bewick and Mark Firmin of KPMG LLP were today appointed special administrators to Alpari (UK) Ltd.@
If you have funds tied up in Alpari give them a call.
The more people pressuring them to get on with it the better.
Time is money when it comes to trading.

When I say pressuring them I do mean constructively.
  • #2,123
  • Jan 19, 2015 10:57am Jan 19, 2015 10:57am
Quoting Mroue26
i called twice actually.. and i did not hear the same words from the 2 of them.. here is the number.. call them +97144579862 call and please share your info.. thank you all
I have called the number and they confirmed to me that Alpari UK should be back to normal operations by tomorrow 10 AM UK time.
Also the trading should be open again.
The website should be updated with the new announcement soon "may be tomorrow morning"
These information not yet officially announced, I hope it is true.
  • #2,124
  • Jan 19, 2015 11:04am Jan 19, 2015 11:04am
Hey guys, maybe someone can shed some light on this for me. I have some larger issues due to the fact that I kind of need the money for buying some real estate.

Here are my infos:
· I have been hedging some of my other accounts using Alpari EuroStoxx. My initial deposit was around 20K and it has grown into around 92K (like I said, a hedge rather than real profit).
· My wife has the same account but smaller, roughly 21K in the account.
· On my account I was long 42 Lots Eurostoxx and my wife was long 11 Lots, our positions were open since mid December and were closed Friday morning at 3148
· We are German citizens
Here are my questions
1. Since all positions were closed, will they be treated like an investment or a deposit (GBP 50K or 85K reimbursement by the FSCS)?
2. Will we first get as much money out of Alpari has they have in their client accounts? So something like
a. Total funds to be distributed =100Mio - 45Mio Loss + 20-25Mio Alpari had equity – Lawyer and Consultant fees.
3. Would we then look at how large each individual’s loss was and then get the remaining funds back from the FSCS?
4. Does it matter that we are German citizens or does it only matter where the accounts are held?
5. Our trades would at this point be up roughly €37,000 would we be able to make a claim based on unrealized profits due to irregular position closing?
6. How much time do they have to sell the company?
7. If the company doesn't get sold, what would be the timeframe to expect any money at all?

Thanks, if anyone here can help out, that would be great. This is a lot of money for me and I am really scared that I will take a major hit here.
  • #2,125
  • Jan 19, 2015 11:09am Jan 19, 2015 11:09am
According to CityAM, Alpari has appointed administrator KPMG.

EDIT: Sorry didn't notice already reported.
TheLazyForexTrader
  • #2,126
  • Jan 19, 2015 11:25am Jan 19, 2015 11:25am
It is interesting i just phoned the regulator and spoke to them regarding alpari..and they hve just been in the court..nothing about a buyer and the claims may take upto six months..all floating trades at closure by alpari are lost..the final sum given will not reflect this

which in my case is 3.6k down the drain..its not good guys

we are not getting our money quickly..
  • #2,127
  • Jan 19, 2015 11:26am Jan 19, 2015 11:26am
i dont understand what they mean by this in bold
we shall be returning this to clients or making other suitable arrangements in accordance with statute and the regulatory framework at the earliest opportunity."
what will be other arrangements? they should simply return as normal withdrawal happens why other measures?
  • #2,128
  • Jan 19, 2015 11:29am Jan 19, 2015 11:29am
Quoting nAVIN2007
It is interesting i just phoned the regulator and spoke to them regarding alpari..and they hve just been in the court..nothing about a buyer and the claims may take upto six months..all floating trades at closure by alpari are lost..the final sum given will not reflect this which in my case is 3.6k down the drain..its not good guys we are not getting our money quickly..
6 months ? thats not good. i was expecting in a week... then how another insolvent broker returned money so smoothly? this is just worst thing .
  • #2,129
  • Jan 19, 2015 11:31am Jan 19, 2015 11:31am
Quoting panhwar
{quote} 6 months ? thats not good. i was expecting in a week... then how another insolvent broker returned money so smoothly? this is just worst thing .
http://www.lse.co.uk/macroeconomicNe...d_for_business


news is playing games with us..
  • #2,130
  • Jan 19, 2015 11:32am Jan 19, 2015 11:32am
Quoting nAVIN2007
It is interesting i just phoned the regulator and spoke to them regarding alpari..and they hve just been in the court..nothing about a buyer and the claims may take upto six months..all floating trades at closure by alpari are lost..the final sum given will not reflect this which in my case is 3.6k down the drain..its not good guys we are not getting our money quickly..
Well in that case Alpari at Dubai is full of shit i guess:

http://www.forexfactory.com/showthre...20#post8006020

I wonder what is what.
My signature is: "Classified".
  • #2,131
  • Jan 19, 2015 11:34am Jan 19, 2015 11:34am
Quoting panhwar
i dont understand what they mean by this in bold we shall be returning this to clients or making other suitable arrangements in accordance with statute and the regulatory framework at the earliest opportunity." what will be other arrangements? they should simply return as normal withdrawal happens why other measures?

it means every1 will only get money if everything is done properly by alpari in accordance with the regulators regulations
  • #2,132
  • Jan 19, 2015 11:37am Jan 19, 2015 11:37am
Quoting yaed
{quote} Well in that case Alpari at Dubai is full of shit i guess: http://www.forexfactory.com/showthre...20#post8006020 I wonder what is what.
yes, my guess is..he is full of shit
alpari have been in court..and already have adminstrators in place..not that they are trying to prevent insolvency, like there website is indicating..even at this stage alpari is not honest..not good
  • #2,133
  • Jan 19, 2015 11:41am Jan 19, 2015 11:41am
Quoting nAVIN2007
{quote} it means every1 will only get money if everything is done properly by alpari in accordance with the regulators regulations

if the money are as supposed to be and i dont believe they are not we are fine...

from the start i said .... time is the valuable thing we lose right now...valuable time and opportunity cost is in play....

i dont know exactly the process ON THIS type of business... i know what "generally" takes place in this cases, this is one of a special sector.


i believe we are going to be dealt quickly for reasons i had mentioned right from the start, its in the administrators best interest
  • #2,134
  • Jan 19, 2015 11:46am Jan 19, 2015 11:46am
Quoting nAVIN2007
{quote} yes, my guess is..he is full of shit alpari have been in court..and already have adminstrators in place..not that they are trying to prevent insolvency, like there website is indicating..even at this stage alpari is not honest..not good
The thing that i sort of dont get is the -40 million $. I dont know if that is very much compared to the bad will that will be created FOR THE REST of Alparis branches if this is not handled in a OK manner. I mean lets say i had 5 million USD at Alpari in Dubai. All of a sudden Alpari UK goes belly up and wont give back the money to their clients. I would be getting kind of anxious about having my 5 mill in the Dubai branch if the UK thing is handled badly and all the client funds gets locked up for 6 months. See what i mean?

But its a bad sign that we havent heard as much as a "beep" from the horses mouth. I mean how much would it take to just drop us a message of i dunno 10 sentences right here?
My signature is: "Classified".
  • #2,135
  • Jan 19, 2015 11:47am Jan 19, 2015 11:47am
Please understand that now there is an orderly process in place, and Alpari cannot influence it much anymore. The main thing is: the money is in segregated accounts. It may take time to get it, but now an administrator is in place, he will check everything and start to work. They are under severe legal obligations and I'm pretty sure they know their business.
They will check all the figures, then see if they can sell the business or somehow re-finance it, and if not they will unwind it.
As far as I understand the money in segregated accounts legally belongs to the customer, so they will probably at some time pay out. I wouldn't be too optimistic about this taking place within weeks. They will make sure that they cannot use the money to balance out the debts the company has, that should take some time. Patience is in order.
Fail better.
  • #2,136
  • Jan 19, 2015 11:49am Jan 19, 2015 11:49am
Quoting LarryDarrell
Please understand that now there is an orderly process in place, and Alpari cannot influence it much anymore. The main thing is: the money is in segregated accounts. It may take time to get it, but now an administrator is in place, he will check everything and start to work. They are under severe legal obligations and I'm pretty sure they know their business. They will check all the figures, then see if they can sell the business or somehow re-finance it, and if not they will unwind it. As far as I understand the money in segregated accounts legally...
I guess you are correct. Good thinking.
My signature is: "Classified".
  • #2,137
  • Jan 19, 2015 11:50am Jan 19, 2015 11:50am
Quoting KGP
{quote} if the money are as supposed to be and i dont believe they are not we are fine... from the start i said .... time is the valuable thing we lose right now...valuable time and opportunity cost is in play.... i dont know exactly the process ON THIS type of business... i know what "generally" takes place in this cases, this is one of a special sector. i believe we are going to be dealt quickly for reasons i had mentioned right from the start, its in the administrators best interest

I agree..the adminstrator are appointed and they want to get paid quickly..so will act quicker...unfortunately i trust nobody and alpari..has let us down ..I totally never saw this coming..I really should have, swing trading like no care in the world whilst this shit hole (alpari) sank
  • #2,138
  • Jan 19, 2015 11:56am Jan 19, 2015 11:56am
Quoting yaed
{quote} The thing that i sort of dont get is the -40 million $. I dont know if that is very much compared to the bad will that will be created FOR THE REST of Alparis branches if this is not handled in a OK manner. I mean lets say i had 5 million USD at Alpari in Dubai. All of a sudden Alpari UK goes belly up and wont give back the money to their clients. I would be getting kind of anxious about having my 5 mill in the Dubai branch if the UK thing is handled badly and all the client funds gets locked up for 6 months. See what i mean? But its a bad...
The people at Alpari UK are out, the employees work for the administrator now and their only interest is do do things by the book. They at the moment don't care about public relations, because they don't look for new customers.

Regarding the other 'branches': they will be seperate legal entities, so they shouldn't be any legal repercussions. Another thing is, though, that they probably have the same risk management processes in place, etc.
My guess is: they will be re-named soon, maybe sold. And I for my part won't put money in an Alpari account again. Once burnt, twice shy.
Fail better.
  • #2,139
  • Jan 19, 2015 12:00pm Jan 19, 2015 12:00pm
Quoting yaed
{quote} The thing that i sort of dont get is the -40 million $. I dont know if that is very much compared to the bad will that will be created FOR THE REST of Alparis branches if this is not handled in a OK manner. I mean lets say i had 5 million USD at Alpari in Dubai. All of a sudden Alpari UK goes belly up and wont give back the money to their clients. I would be getting kind of anxious about having my 5 mill in the Dubai branch if the UK thing is handled badly and all the client funds gets locked up for 6 months. See what i mean? But its a bad...
bro.. DUBAI is just an office not a branch... i told them i was introduced to the company by you guys in dubai, why my accounts are in alpari uk.?
she said all our accounts are in Alpari UK.. they are not two different or independent from eachother... both are getting the same faith i think.
  • #2,140
  • Jan 19, 2015 12:02pm Jan 19, 2015 12:02pm
It's a matter about how the owner do business. Alpari main shareholder is the same owner as forextime.com
http://www.dashin.ru/en/business
So, he is making good money on his other Forex company that was not affected. But he regret to use this money to save Alpari from insolvency. That's why we are all here trying to get our money back, while he is laughing on his private yacht....
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