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Attachments: Trades cancelled with broker
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Trades cancelled with broker

here are a couple of screenshots in the meantime I figure out a way to verify my account on one of the stat-websites...

I hope this will make sure it's not stories that I am inventing...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: shot1.png Size: 79 KB
Click to Enlarge Name: shot2.png Size: 68 KB
Lorenzo
Quoting tar
yeah exactly ?!! u want your broker to refund you if your stop was taken by an error price and you will cry on forums and FPA website but if u made some profits from error prices you dont want to give the money back ! what a jerk i think u r a complete a***h*** , thats a strong proof that the vouchers system doesnt mean anything , u have what 7 vouchers and u dont know what an error price is ?!! its ok to take advantage of error prices and to withdraw your profits but if you got caught dont come here crying , do you think i am born yesterday he...
spot on.
Quoting Steph
spot on.
OFF TOPIC

I don't want anyone to refund me because my stops were hit or something like that, I just want Alpari to give back the profits I honestly and fairly made on their prices.

We are three traders, we made a total number of 980 trades, 96% of them in total are considered to be canceled by Alpari.

Is that even statistically possible that 940 trades out of 980 are all "incorrect" ??? come on !!!

Wake up people, this behavior is clearly done because they lose money out of our profits, it's a clear and huge conflict of interest, which is not allowed by the FSA and the Contract Law in the UK.

These are the six reasons why I think they are guilty:

1) The impossibility to exactly define a “manifest error” in terms of quantitative difference from the provided prices to the quotes from Bloomberg history (how many points away they have to be considered “manifest errors” ? )
2) Acting in conflicts of interest, and breaching the FSA rule SYSC 10.4 , as it’s absolutely obvious that the company has an interest on the outcome of this dispute and, generally on the outcome of every single trade
3) Acting in “bad faith” as they initiated this investigation on my trading activity only after realising that I made more consistent profits, and afterwards they want deleted the trades made with prices they simply judge incorrect. I am sure that if they were losing trades they would never opened this investigation, and this is motivated by the fact that they are not going to cancel 14 of my trades, all negative.
4) Breaching MIFID (which they subscribed) Article 21 about “Best Execution” also recalled by FSA COBS 11.2, according to which, the firm “A firm must take all reasonable steps to obtain, when executing orders, the best possible result for its clients taking into account the execution factors.”
5) Breaching MIFID Article 27 about “Obligation for investment firms to make public firm quotes” according to which, the firm has the obligation to keep the quoted prices up-to-date with the market, and providing real-time correct prices.
Hence, if they admit they had a “bug” in their quotes, they clearly breached these two rules.
6) Breaching their “Terms of Business” at point 9.1, which states the following: “Both the Company and the Customer have the right to initiate the process of Dispute resolution. In a case where the Company initiates it, the decision must be made and all the necessary actions must be taken within one Business Day of the Dispute arising. “


Clear enough now ?
Lorenzo
Alpari UK has recently uncovered an intermittent pricing error in the DE30 instrument, manifested over a short period of time.
We have subsequently discovered that 3 individuals, seemingly acting in concert, and one acting alone, have been actively targeting this error.
It is those individuals, and those alone, from whom we intend to recover their illegitimate profits.

Of all Alpari UK’s many thousands of active client accounts, only 4 clients were subject to an investigation.
All of these accounts showed trades were placed at a demonstrably favourable advantage to actual market prices in over 95% of cases, and no account investigated placed trades that did not enjoy this advantage in less than 80% of trades placed in this instrument during this period.

We do not believe that these statistics support behavior which was either a coincidence, or that this advantage was unknown to the participants.
The DE30 is based around an exchange-traded product whose prices through the trading period are a matter of Public Record, and thus our position can easily be verified against the information published by the Complainant.
The mean value in pips for these averaged between +4.04- +4.9 pips per account, over all trades with difference per individual trade of up to 65pips over the market price existing at that time.

We have honoured the trades of all other participants in this market in the belief that the trades were placed honestly and within the spirit of the Customer Agreement and Terms of Business of Alpari UK.

Alpari UK has many thousands of customers, and we pride ourselves on the excellent service given by our Back Office Team in processing payment requests, over 99% of which are remitted within one working day of receipt. Any suggestion to the contrary is completely without foundation.

Alpari UK would like to stress that we have a very large client base and cases such as this are extremely rare.

This matter has now been referred to the Financial Ombudsman Service (FOS) within the UK with whom we are closely working on this issue for a fair and binding solution.
Once their decision has been reached Alpari UK will be happy to adhere to their final resolution to this issue.

Alpari UK will not be commenting further until the FOS have ruled on this matter.

Alpari (UK) Ltd.
Thus exactly what I stated before the individual or individuals do not have a valid case imo...you can not expect a broker to honor trades made with erroneous data. It doesn't work both ways. I think the response by Alpari UK compliance is more or less in line with any other broker for that matter. This individual is drawing straws looking for a hand out using a scalping strategy in size on inaccurate feed.
Indeed, this looks very suspicious. As far as I understood the official statement from Alpari UK - a regulated broker won't make a false one publicly - the GER30 was the only tradeable asset with a pricing error, during the period in which you are accused to have traded consciously with pricing errors. You and your two colleagues were heavily trading this asset in a short time of period and according to the official statement, you were the only ones which seem to have taken advantage of the pricing error. This leads to a conclusion that you indeed knew about the pricing error and took advantage of it by opening a load of GER30 trades.
Hilarious. A couple of guys try to rip of a broker, calling each other when they find an error to exploit and they got caught with their pants down....

The sad part is that they started this thread trying to get away with their crime and Alpari did not fold, well done Alpari.

This is like robbing a bank and b!tching about getting caught on facebook, yeah we are really going to side with you, NOT.


Brilliant.
  • Post #128
  • Quote
  • Edited Jul 7, 2011 3:33am Jul 6, 2011 3:57pm | Edited Jul 7, 2011 3:33am
Quoting Alpari UK
Alpari UK has recently uncovered an intermittent pricing error in the DE30 instrument, manifested over a short period of time.
We have subsequently discovered that 3 individuals, seemingly acting in concert, and one acting alone, have been actively targeting this error.
It is those individuals, and those alone, from whom we intend to recover their illegitimate profits.

Of all Alpari UK’s many thousands of active client accounts, only 4 clients were subject to an investigation.
All of these accounts showed trades were placed at...
This is a good evidence of how shallow, wrong and incorrect your reasoning and your thesis are.

With a bunch of well typed words you're trying to hide yourself behind a finger: saying that Alpari has thousands of customers (irrilevant), stating that we 3 traders acted in concert (irrelevant and not big discover since I said that from the beginning, never heard about trading rooms ?)

But, honestly, the most ridiculous statement is this one:
"We have subsequently discovered that 3 individuals, seemingly acting in concert, and one acting alone, have been actively targeting this error.
It is those individuals, and those alone, from whom we intend to recover their illegitimate profits.

Of all Alpari UK’s many thousands of active client accounts, only 4 clients were subject to an investigation."

This is the concrete and honest admission that ALPARI DOES have an interest on the outcome of the trades and of the investigations. We were just so (un)lucky to be affected by the bug, and all three of us made incorrect profits, out of the thousands and thousands of clients, it happened only to us three friends plus this unknown other client.

So, every other client connected to the same servers we were is not affected by the bug, or, more realistically: since they didn't make much profits or they likely lost, Alpari doesn't investigate on them. And, in the unlucky case they would complain about "incorrect prices" they wouldn't be allowed to because your terms of business say complains of this kind aren't accepted.

INCORRECT PRICE: you discover a client's profit,you delete it
SAME INCORRECT PRICE: you discover a client's loss, you keep it.
SAME INCORRECT PRICE: clients discover it, you keep it.

If you admit you had a bug on the quotations of an instrument, ok, it can happen, you DELETE ALL THE TRADES on ALL CLIENTS' ACCOUNTS, because if the transactions have to be deleted, you should have deleted both of the parts transactions. Are you trying to admit you do not cover your trades onto the real market and you provide "bucket shopping" ?

Otherwise, it's quite discussable that you only want to delete profitable trades (or profitable clients) and keep the loosing trades, don't you think so ?

Last thing, instead of reading your beatiful essay about "How Good, Fair and Beautiful Alpari is" , I would have preferred, that you answered my questions instead. All in all, we all know that Alpari is the best and cleanest broker on the market, and the customer protection inside of your Contract confirms it.

Regards
Lorenzo
Quoting cloggie
Hilarious. A couple of guys try to rip of a broker, calling each other when they find an error to exploit and they got caught with their pants down....

The sad part is that they started this thread trying to get away with their crime and Alpari did not fold, well done Alpari.

This is like robbing a bank and b!tching about getting caught on facebook, yeah we are really going to side with you, NOT.


Brilliant.
I wonder why you have a "ignore list" invite under your message that says: "Add Cloggie to your ignore list"


Lorenzo
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting lorbax
This is a good evidence of how shallow, wrong and incorrect your reasoning and your thesis is.

With a bunch of well typed words you're trying to hide yourself behind a finger: saying that Alpari has thousands of customers (irrilevant), stating that we 3 traders acted in concert (irrelevant and not big discover since I said that from the beginning, never heard about trading rooms ?)

But, honestly, the most ridiculous statement is this one:
[color=blue]"We have subsequently discovered that 3 individuals, seemingly acting...

You are absolutely right, keep going!
Quoting lorbax
OFF TOPIC

I don't want anyone to refund me because my stops were hit or something like that, I just want Alpari to give back the profits I honestly and fairly made on their prices.

We are three traders, we made a total number of 980 trades, 96% of them in total are considered to be canceled by Alpari.

Is that even statistically possible that 940 trades out of 980 are all "incorrect" ??? come on !!!

Wake up people, this behavior is clearly done because they lose money out of our profits, it's a clear and huge conflict of interest,...
Intersting & did you filled an FSA complain? Don't expect they will give you back anythink FIRST sue with FSA that's it & it's worth it.

13
Brokers are angels
I think that is bad. could you tesy any broker aside alpari
There has been 3 titles to this thread already. Error in the feed probably
so if i place an investment long on silver for example at $36 and close it in 20years when it reaches the moon. are you saying I might be denied my money by my broker?
Quoting zonrokoy
There has been 3 titles to this thread already. Error in the feed probably

When impartiality gets lost somewhere :

http://i56.tinypic.com/ao9xzb.jpg



clap clap Forexfactory !
Quoting duxis
When impartiality gets lost somewhere :

http://i56.tinypic.com/ao9xzb.jpg



clap clap Forexfactory !
Quoting zonrokoy
There has been 3 titles to this thread already. Error in the feed probably
FF admins changed the titles, I didn't .
Lorenzo
Quoting Drewfired
Thus exactly what I stated before the individual or individuals do not have a valid case imo...you can not expect a broker to honor trades made with erroneous data. It doesn't work both ways. I think the response by Alpari UK compliance is more or less in line with any other broker for that matter. This individual is drawing straws looking for a hand out using a scalping strategy in size on inaccurate feed.
how is he supposed to know the feed is inaccurate..i mean common man!..how many of us even think about this thought..

u trade what u see and execute (u certainly dont think is the feed correct..lol)..im troubled as to how the feed is inaccurate and surely its alpari who is responcible as they provide the client act on resource provided by the broker..

if anything id expect a compenstation..time and effort spent and stress..trading is stressfull people

any1 wanna shed some light on this?
Quoting tar
yeah , regardless of lorbax case i am talking in general , but if you made money from errornous prices then it is not your money it is theirs .
Erroneous prices?

Who is supplying those prices?

If Alpari's prices were "erroneous" then who's fault is that? Sounds like the fault is on their end and they should do the right thing and honor the trades.

Plus, I have never heard of any of these scoundrels refunding money to an account on a losing trade. I think that pretty much said it all.
Quoting Astroman
Erroneous prices?

Who is supplying those prices?

If Alpari's prices were "erroneous" then who's fault is that? Sounds like the fault is on their end and they should do the right thing and honor the trades.

Plus, I have never heard of any of these scoundrels refunding money to an account on a losing trade. I think that pretty much said it all.

i agree..it just seems wrong
trading is one of those things..u act on what u see, execution needs to be quick..if u start worry are yur prices correct..how the hell u going to make money..alpari are at fault regardless

unless someone can actually show how u get a erroneous prices?
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