Alpari.co.uk Discussion

Sorry for the delayed responds Peter. Yes, live feed. Its strange, this have never been an issue before. And here we go again..another freeze. This can't be legal !

Hi Everyone,

I need to ask a question and I hope someone can help. I was going to use Alpari because I found that they are a little different from most brokers. On metatrader on the right hand side where you can see the price of a currency i.e. 0.91108 you can trade on every single pip but on other brokers like interbank you only make money per pip i.e. 0.9105. As you can see from the 2 different brokers Alpari has 6 digits and interbank has 5.

I tried to deposit with Alpari and it went really wrong there customer services lied to me and I really do not want to use them but they are the only broker I have found which lets me trade on 6 digits. Does anyone know of any other brokers which allow this or any spread betting companies.


Any help would be much appreciated

Some brokers have elected to add the extra decimal place 1/10th pip. I am wondering why you would find that useful? Most traders work to the whole pip.

I would also wonder what they said to you which was a lie. I am with Alpari and have had no problems.

I am guessing you have been live a long time, PeterFM. Before I went live some 3 years ago I opened demo accounts with 3 different brokers and had no end of problems. Not exactly a good sales presentation. I went live with Alpari and have since had no problems.
Occasionally I still open demo accounts (with other brokers) for research reasons and the old problems crop up. Of course, when you question these people they feign surprise and assure you their live accounts don't suffer such problems. So far I have found this to be true.
When I thought it through it made sense. If I were a broker I would allocate my best engineers and equipment to live accounts and demo servers would have a lower priority.

Thanks for the reply smikester, The reason why I like it is because any movement is money and I find it easier to trade that way.

Its a long story but they had problems finding my money which is not their fault that was mine because I didn’t put my id number on the transaction, I emailed them straight away to make them aware and they said that there would be no problem. So I contacted them on Thursday to see if they had got the money which they did and they asked me for a transaction number so I sent them that. I then had an email asking for a copy of my statement which I didn’t have so I rung them up and asked would they accept a screen shot of my online statement which they said yes no problem and my money would be credited right away. 2 hours later and 4 emails sent I had no reply so I rung them up and was told no we can't accept a screen shot and because there was no ID number they couldn’t credit my account so my only options was for them to send me the funds back which will now take 5 - 10 days. If they told me from the start I could have told my bank to cancel the transaction and the fact the guy on the phone said yes a screen shot would be fine.

So from the start i have had problems and it worries me also on this tread so many people have started to have problems.

what horseshit, my buy was triggered.. and it was 8 pips off... didn't even reach it at all, no wick, nothing!

Sorry, not a rare thing now a days... thats a new kinda shit.....
aka "AlpariShit"

"AlpariShit" People call it Better services
Run guys...
Sorry run faster!

I Traded some big size... looted them by making some profits... and withdrawn all money ! Cheers Searching for a better bucketshop till i move to an Commision based ECN.

well i m wif alpari for the past 3 months.. probably im still new but alpari work fine to me...for now.. =)

but there r indeed 2 things that i dislike about it..

1. YES.. Re-quotes.. it drives me crazy sometime..

2. Their customer service sometimes seem to be very confused. My story- I deposit roughly around usd550 and they sent me a mail stating a lesser amount it already been deposit into my account. But when i check my account on my statement it was really usd550 deposited.. LOL

other than that everything seems fine atm..

Guys,

i would like to open a live account with them (5.000 USD) and i have a question for you.

Right now i'm on demo and i wanna set some buy/sell imit orders. The problem is that the open price i set must be at least at 100 pps from the market price.

Do i get this also in live accts?

This is a big issue for me

I have no such problems on live account. These sort of queries are common on all demo account brokers and you will find the live account is fine. Brokers are brokers, though. Don't expect to get an instant fill if the price is moving fast. Don't have tight stop losses around news releases, unless you want out. Expect slippage if the price spikes past your stop loss... and so on.

10x smikester,

i'm trading on daily charts, i don't trade the news, i place my orders only after NY closing so i guess it won't be a problem with filling the orders

Later edit: just to make sure i'm clear, do i receive the message in the attachement in the real acct?

it means 10 pips, cause quotes are 5-digits.

hi if anyone is interested in beeing introduced at alpari .ru hit me up

you have same conditions like everybody + get a reward from me +
+
so thats real V.I.P.

Hello

I have been with FxPro for a year and no problems. However, they are letting go of their US resident clients (i don t get why) so anyway I am looking into new brokers preferably based in Europe since I don't think much of the new US no hedging law. My borker has 0 "zero" margin minimum to hedge, low spreads, trailing stops blah all the works. Does Alpari UK provide the same features?

Thanks in advance.

@ahlamo

Fill in this number: 1017

at dukascopy signup and you get 25 % of the 50 % rev they pay me .

and this is automatically everyday ! europe based and good reviews about the broker

Sorry for taking so long to answer. No you don't. Currently it sits at 3 pips. It states 30 but as you know, we are using 1/10ths of a pip now.

http://www.fsa.gov.uk/pages/Library/...2010/077.shtml


5 May 2010 The Financial Services Authority (FSA) has imposed a financial penalty of £140,000 on Alpari (UK) Ltd (Alpari), an online provider of foreign exchange services for speculative trading, for failing to have in place adequate anti-money laundering systems and controls. Its former money laundering reporting officer (MLRO), Sudipto Chattopadhyay, has also received a financial penalty of £14,000.
FSA regulated firms should carry out risk assessments of the money laundering and financial crime risks that they are exposed to. However, between September 2006 and November 2008, Alpari failed to carry out thorough assessments and, as a result, put the firm at risk of being used to further financial crime.
Alpari failed to carry out satisfactory customer due diligence procedures at the account opening stage and failed to monitor accounts adequately. These failings were particularly serious as Alpari’s customer base included those from higher risk jurisdictions, such as Nigeria, and its customer relationships did not operate on a face to face basis.
Alpari also failed to have in place adequate systems for screening customers against UK and global sanctions lists and for determining whether customers were politically exposed persons (PEPs).
Despite increasing its customer base from 400 to 11,500 live accounts between mid 2007 and mid 2008, Alpari did not expand its compliance and anti-money laundering function in line with the rest of the business and placed too much responsibility on Chattopadhyay.
As its MLRO during this period, with responsibility for compliance oversight and money laundering reporting, Chattopadhyay was accountable for these breaches and therefore also received a financial penalty for the failings. Chattopadhyay has also given an undertaking that he will not make an application to the FSA to be approved for a compliance oversight or MLRO role for three years.
Margaret Cole, director of enforcement at the FSA, said:
“The FSA expects firms to assess the financial crime risks to which they are exposed properly. The FSA also expects expanding businesses to commit sufficient resource to their compliance and anti-money laundering functions. Alpari failed to operate and maintain adequate money laundering systems and controls, leaving it open to the risk of financial crime.
“These penalties serve as a reminder of the importance of maintaining effective anti-money laundering controls – something we have repeatedly stressed. All firms should ensure that they minimise the risk of exposure to financial crime and we will continue to be extremely vigilant in this area.”

http://cdn.forexfactory.com/images/buttons/quote.gif

Please find below the official statement from Alpari UK (Ltd) relating to the recent announcement from the FSA:

Alpari (UK) has reached a settlement with the FSA relating to a fine received for inadequate procedures for anti-money laundering and financial crime, specifically relating to the period, September 2006 - November 2008.

Alpari (UK) wishes to stress that no clients were impacted financially by this matter and there is no evidence that any financial crime took place.

We have been fully co-operative with the FSA throughout their investigation and implemented all recommendations that have been subsequently presented by external advisors as well as recruiting experienced staff into the affected areas.

As a result, the external advisors have noted that there has been a significant improvement in Alpari (UK)'s procedures since November 2008 and we are satisfied that the necessary actions have been made to ensure we are fully compliant in the future.

If you have any further queries on this matter then please contact the Alpari UK Client Services team directly on [email protected]

lol... ALPARI UK is back here to save its customers ..after a long time!!

Don't know when FSA will fine these "conflict of interest", "MONEY LAUNDERING" brokers themselves...

Why would they need to "save" their customers? Inadequate screening of new accounts to estalish where the money was coming from is hardly going to affect other traders. I believe firms such as FXCM have been pulled up by the authorities for far more dubious pratices than this.