Alpari.co.uk Discussion

Anyone? Didnt want to lose so much time in phone hell back and fourth finding this out so I just convince myself this is found money so who cares.

Money's back. Thank you KPMG and Fscs for an orderly, if somewhat lengthy process.
Back in business....

Can't check my bank account, will check later.Anyone else get money?

Not bad! Should be even harder than trading to get money from Alpari

New update guys
but they said nothing about the next tranche.

Alpari (UK) Limited (in special administration) (“the Company”) NOTICE TO CLIENTS - COMPENSATION PAYMENTS MADE BY FSCS This information is in addition to previous information. In light of the recent payments made by FSCS to those clients who had assigned their claims to FSCS, we have received numerous communications from clients who are asking why the amount received into their nominated bank account is different to what they had agreed on the Claims Portal with the Joint Special Administrators. In response to these queries we would like to highlight the following to the clients who have chosen to assign their claims to FSCS. In the Claims Portal, clients agree the balance of their individual account(s), their client money entitlement and their contractual claim amount. As noted in the Claims Portal, the denomination of the Client Money Pool (“CMP”) is USD, therefore all clients’ account balances which were not held in USD are required to be converted to USD. This is, by law, at the spot rate prevailing at the time of the appointment of the Joint Special Administrators, which is 2.45 pm GMT, on 19 January 2015. This amount is the client money entitlement and payment in respect of this claim would be paid in USD, as that is the denomination of the CMP. The contractual claim amount relates to any unsecured contractual claim the clients may have against the Company arising out of the Client Agreement. The designation of the general estate is GBP, therefore all claims in the general estate of the Company are required to be converted to GBP. This is, by law, at the official exchange rate, which is the mean of the buying and selling spot rates prevailing in the London market as published at the close of business on 19 January 2015. Please note, that any amount recovered from the CMP under your client money entitlement would reduce the value of your contractual claim by an equivalent amount. As a result you cannot recover both the full amount of your client money entitlement and the full amount of your contractual claim. When a client agrees their client money entitlement and contractual claim amount in the Claims Portal and elects to assign their claim to FSCS, the Joint Special Administrators provide FSCS with both claim amounts. FSCS decided to pay all compensation payments in USD to align with the denomination of the CMP. As such, FSCS would have made a compensation payment to clients in USD. FSCS will pay out on the higher of a clients’ client money entitlement or contractual claim, however payment will always be made in USD. The reason why a client may receive a different amount to that in the Claims Portal is due to a clients’ bank converting the USD payment into the denomination of the nominated bank account and further a clients’ bank may deduct fees. If clients are concerned about the amount received, we suggest that those clients should contact their bank and confirm with them the amount in USD that was received. This amount will agree to the values that were agreed in the Claims Portal, as long as a clients’ claim is less than £50,000. Clients who have any further queries in respect of the compensation payment received from FSCS should contact them directly (http://www.fscs.org.uk/contact-us/).

still nothingg......

I would contact ETX and ask them to intervene..its not to late so long as the transfer has not taken place however the rate of gbp right now is a lot lower now, u could end up with more. It all depends on when the transfer happens

So the lower GBPUSD goes the more I'd receive? I know I should know this being a trader as well but I'm having a pretty clumsy day so far lol

Case gone cold.......

Why is there no article or news in media about FSCS not paying for client deposits even after so many months? They are supposed to pay within 7 calendar days. Financial regulators in other countries paid out within 2-3 days. Maybe Govt will shut down whichever newpaper publishes!

It is likely that FCA audits do not really check if brokers maintain client money in segregated way. If they did, it would only take a day to find out which client owns what amount. All the KPMG client portal thing is probably to charge a lot in administration fees. In all these, only people who are making profits is KPMG. It is another way to make money from trading without actually trading!!

Got my refund from ETX = loss + gain not earned.

vmrdc, lucky you picked ETX. Most of us are still waiting for our money.

Did KPMG have conflict of interest? Why pay money to ETX before all other options? What if ETX has same fate as Alpari?

im not so happy i choose ETX and no money yet! no news .. nothing
i called them on may 16, they said at the first on June. here we are,, still waiting....

Is it Mr Cameron not allowing FSCS to print money to hand out to unfortunate traders?

I got my funds a while ago.Into my ETX account.

Just spoke to FSCS.

They confirmed that my name is on the list for the next payment.

I was told that the second tranche will happen this month and that we will be informed via email as well as an update on the website before payment is made.

The waiting is almost over ........ lets hope for good news in the next week or so.

G

Thanks Cobra.

How long does a phone call last, I might ring to see if I am also on the list.

They pick up rather quick.
Wasn't on the phone longer than 4 minutes.

G

Just spoke with them. They are going for second tranche end June.

I wished they acted more professionally by publishing the real progress in the claims portal so we know on when and how we will be paid back.