Alpari - Looking to open a live account

Hey All

Could some people give there thoughts on this broker pls

I was going through the legal documents and in the final section and read this

Insolvency

2.13. The Company’s insolvency or default, may lead to positions being liquidated or closed out without your consent.


In certain circumstances, you may not get back the actual assets which you lodged as collateral and you may have to

accept any available payments in cash.

2.14. The Company will hold your money as trustee in its bank accounts and your money will not be subject to the

protections conferred by the FSA's Client Money Rules. The Customer’s money will not be segregated from your

money and will be used in the course of the Company’s business, and in the event of the Company’s insolvency you

will rank as a general creditor.

Could anyone tell me if this is normal when signing up to any broker. I thought your depost funds would be protected in some way.

Thanks
Darren

Have you tried a demo account with them yet? I am looking for an MT4 broker as well and it seems like you can easily find discouraging and negative feedback about all of them but I have not found too much negative feedback on Alpari yet. Just curious if you had tried a demo with Alpari and if so what was you experience?

Hi derabuf

Yes i have been using there demo for around 3 months the main reason i started a demo account was because it doesn't expire after 30 days.

I've tried a few mt4 demo accounts and they are all pretty much the same (funny that). I like alpari because it runs on a time of gmt+1 which means i can have a look at the daily charts at 11pm and still get a good nights sleep .

I have also been looking at ibfx but you seem to get funny bars on a sunday night which you should ingnore these bars are not displayed on alpari. this i think is due to the gmt+1.

You can also trade oil, gold and s&p which could be useful.

Like you say i'm finding it hard to find any comments good or bad about the broker.

Regards
Darren

Now that's scary!!! Be carefull with this

Greeetings,

I think all the brokerages have a similar disclaimer - really your funds are never insured. I have freinds who are still trying to get thier money out of Refco. The best advice is to make sure they are members of the usual organizations, how long they've been around, capitalization and so on. A good example might be like this: http://www.rcgfxtrader.com/aboutRCG4.asp .Although I am not really reccommending them, just an example.

The field is becoming increasingly competitive, ei lower spreads, more features and so on. A couple of things you may consider for a newer trader are hedging capability and adjustable margins, these are really important - if you don't know why stop what you're doing and find out why.

Unless your able to step up to a direct execution system, you'll be using a broker, and probably with a 'mini' account, right? Well guess what your broker is the counter-party to your trade. Really the interbank market doesn't do 'mini' lots so your broker holds the paper for that trade. If fact they will add up all the buy positions and add up all the sell positions for a given currency and then go to the interbank market and aquire only what they need to cover the difference. They know that 90% of the paper they are holding will either be stopped out or are just the wrong direction for the market - long and the short of it (pun intended!) they end up with your money! And the lesson is, at last, that the broker does not need to be highly capitalized to open thier doors for business.

That being said, if you start winning the game, don't ever leave any more than you need to do business in your account. It's the only real insurance you will ever get.

I hope you don't get the feeling that I have been soured on fx, quite the contrary, I just think its important to know your broker has a vested interest in your failure no matter which one you choose.