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Alpari.co.uk Discussion

  • #1,021
  • May 24, 2013 5:09am May 24, 2013 5:09am
I've only tried their MT5 via demo - it seems fast, but you say its full of problems?
  • #1,022
  • May 24, 2013 5:27am May 24, 2013 5:27am
Quoting ukmanthailan
It's just happened again for 2 1/2 minutes and then for 9 minutes immediately afterwards. I do of course call your client services team when it happens and they just tell me it is a technical problem they are aware of and they are trying to solve it. Not good enough in my opinion - A technical problem that occurred on Tuesday has not been solved by Friday? I have had a small account with Alpari for several years and just opened a larger one (funds-wise) using the MT5 platform. However, I can't trade with a broker that cannot provide a stable price...
Quoting ukmanthailan
"Affected a small number of accounts". That's exactly the same phrase they always use in the standard emails I get from client services. Is it corporate policy to only ever concede that a problem affects a small number of clients? And is it somehow meant to make me feel better? Don't treat your clients with such contempt; some of us don't like it.
Quoting ukmanthailan
Just happened again for a minute.
Hi ukmanthailan,

I appreciate your frustration at the tech issues you've experienced. If I had problems connecting on my platform, I would be upset as well.

As the MetaTrader5 issue has reoccurred, I have been informed that our technical team are in touch with MetaQuotes to determine the possible cause and implement a solution.

If you do face any issues with your MT5 platform and need to open or close a trade on your live account, please contact our dealing desk at +44 (0) 207 426 2950 (24 hours, from Sunday 22:00 to Friday 22:00 UK time). They can place / close a trade on your behalf.

If you have any other concerns that you would like us to address, please feel free to contact our Client Services team by phone +44 20 7426 2900 (07:00-22:00 UK time, Monday-Friday) or email [email protected]. We’re here to help.

Alex

________
Alexander Chadwick
Alpari (UK) Representative
  • #1,023
  • May 24, 2013 9:14am May 24, 2013 9:14am
I really have no previous experience with this broker, but for the reason that they are the market makers am staying away from it. But if their withdrawals are fast enough i would really consider this broker for investing money.
  • #1,024
  • May 24, 2013 11:45am May 24, 2013 11:45am
Goldenmember and Greeneyez - I always believe in being fair and I am certainly not out to blacken Alpari's name so I will tell you that I never had these problems on their MT4 platform with a micro account.

Also, depositing money and withdrawing it is usually a painless exercise and when the MT5 platform is working, my orders always seem to be filled instantly. On MT4 I got a fair amount of requotes, but I did have the pip variation set at 0.

The MT5 spreads are good, sometimes as low as 0.6 on cable, and most of the time it has worked well. However, as I mentioned above, it went off for 20 minutes on Tuesday and again today. I know that I can phone up and place trades but that's not going to work when I want to make a trade in a hurry. What really annoys me is the "only affected a small number of accounts" party line that they seem to adopt. I have no way of knowing whether it is true and frankly it is irrelevant to me whether it's one account or one million account that are affected, when I am sitting here unable to make a trade.

It's as if they are saying, our platform is fine and the majority of people don't experience the problems you have had, so it's no big deal. I'd rather know some details about the technical issues being experienced so that I can judge for myself whether it's a platform that I want to continue using or not. At the moment, I don't understand how some accounts can be affected and not others...surely if a server is working, it's working? After using it for 6 days, I find it unacceptable that this has happened on two of those days but it might be too early to make a proper judegment. I don't think it's anything sinister as it hasn't happened at particularly bad times of the day but as I said, I would like more information as to what the problem is, not platitudes, when I call client services.
  • #1,025
  • May 25, 2013 7:49pm May 25, 2013 7:49pm
Hi all, am new here so I will try to be brief.

Am I right in thinking Alpari UK is a market maker and as such can do what it wants, sorta 'owns' the market we deal in?

Or do they just hedge cheaper than they pip?
And how can a mt5 true ecn have fixed spreads?

And a Q direct to Alpari.. Why do you advertise 1:50 leverage on precious metals for mt5, and 1:200 on mt4 Classic on the account features page?

I ask because someone has made a mistake I think.

If you click on product list and compare classic MT4 to the MT5 'ecn' (get to the 'ecn' later),under these categories that state 200 and 50, you actually get to a page that gives them both the same leverage on precious metals at 50:1 ?

Anyhow that's me done for the moment but I do have a lot more questions and observations.
Good trade winds be with you all.
Introductions over I guess
  • #1,026
  • Edited 4:23am May 27, 2013 4:03am | Edited 4:23am
Quoting Brokerest
Hi all, am new here so I will try to be brief. Am I right in thinking Alpari UK is a market maker and as such can do what it wants, sorta 'owns' the market we deal in? Or do they just hedge cheaper than they pip?And how can a mt5 true ecn have fixed spreads? And a Q direct to Alpari.. Why do you advertise 1:50 leverage on precious metals for mt5, and 1:200 on mt4 Classic on the account features page? I ask because someone has made a mistake I think. If you click on product list and compare classic MT4 to the MT5 'ecn' (get to the 'ecn' later),under...
Alpari's MT5 ECN platform doesn't have fixed spreads, not sure why you think it does.

However, what I would like to know is if any of the bids and offers being displayed on the MT5 platform originate from Alpari themselves. This should be a fairly simple question to answer unless they have signed a non-disclosure agreement with themselves?

Sorry to go back to my question about liquidity providers but...

I was pointed in the direction of Pepperstone by another FF poster recently and I noticed that they are yet another broker who appear to have no problem whatsoever naming their liquidity providers. Now I understand from a third party that the justification Alex was agreeing with when I asked this question a few days ago had something to do with the competitive nature of the business blah blah blah, but I'm afraid that just won't fly.

If you are talking about the competition between retail brokers for our business, the more high quality liquidity providers you can name the better. I would much rather know that it was a dealer at Deutsche Bank who stiffed me with bad prices than some "market maker-cum-retail bucket shop". On the other hand, if the competition that was being referred to is that between the tier 1 banks that make up the interbank market itself, there is still no need to hide names. We all know who the big players are, it's no secret. When I worked in the front office for a stockbrokers in the city, we could see exactly who was making the prices in various stocks - there's no need for secrecy between those who are actually making the market. We're not talking about asking for the names of corporate clients placing big orders....so I am still at a loss as to why Alpari cannot join other brokers and name them. At this point in time, I can only conclude that none of their liquidity providers are reputable enough to be named.

Another question I would like Alpari to answer is whether the virtual dealer plugin is available on MT5 and if so, do they use it? (or any other server side software that is designed to intercept orders from clients)

EDIT: http://www.bevhillscap.com/forex-broker-services.php Here's another one for the collection. I presume the reason they have corporate logos for Barclays Capital, Credit Suisse, Bank of America et al flashing up next to the words direct liquidity is self evident...no non-disclosure agreements for them either it would seem.

EDIT2: Before somebody points out that there are big differences between a regulated exchange such as the LSE and an OTC market like FX, I do understand this. As members of the London Stock Exchange, we were not allowed to front-run our clients' orders and we didn't trade against them. We were, as the name suggests, brokers. However, the nature of buiyng and selling is the same no matter what commodity you are trading. When you make a market, like the guy selling oranges in your local town centre, you don't hide behind the nearest shrubbery in your attempt to attract customers.
  • #1,027
  • May 27, 2013 7:08am May 27, 2013 7:08am
Add FxPro to the list:
http://www.fxpro.co.uk/trading/platforms/ecn
  • #1,028
  • May 27, 2013 7:21am May 27, 2013 7:21am
Quoting ukmanthailan
{quote}Alpari's MT5 ECN platform doesn't have fixed spreads, not sure why you think it does. However, what I would like to know is if any of the bids and offers being displayed on the MT5 platform originate from Alpari themselves. This should be a fairly simple question to answer unless they have signed a non-disclosure agreement with themselves? Sorry to go back to my question about liquidity providers but... I was pointed in the direction of Pepperstone by another FF poster recently and I noticed that they are yet another broker who appear to...
I was told they were fixed spreads by them is why, that's all.

So
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  • #1,029
  • Edited 2:10pm May 27, 2013 10:16am | Edited 2:10pm
Well I found this and FSA stuff http://en.wikipedia.org/wiki/Alpari_(UK)_Limited

Seems to me that they have only been fined for not carrying out money laundering checks.


You can google any company and attach the word scam to it, I know I would be much more motivated to post about how bad a company was, had I suffered a loss.

Whereas if I made money, where would be my motivation to post.
In my case the motivation is research as I am thinking of buying in.

So that makes three kinds of posters here and anywhere else really, but weighting must be added to the fact the majority of posts will be complaints.
I have not read enough on Alpari uk to warrant their dismissal as yet, not even on forexpeacearmy.

So guide me on this one please?
Thx.

Ed/
Yeah I got the 'fixed spread' wrong, (or rather, I got the wrong end of the stick on the phone) http://www.alpari.co.uk/products/pro...mparison-table

There is still the leverage listing wrong on these accounts though if you follow through from that page, unless they have fixed it yet heh!

I must say the PR is pretty useless @ Alpari (no Offence erm.. Alex is it?), not to even try and slip a Wikipedia link in, still looking and still wouldn't mind some pointers to the smoking guns folks.
I have the ECN and the Classic account btw, not shipped any money over as yet.
  • #1,030
  • May 28, 2013 2:30am May 28, 2013 2:30am
Quoting Brokerest
Well I found this and FSA stuff http://en.wikipedia.org/wiki/Alpari_(UK)_Limited Seems to me that they have only been fined for not carrying out money laundering checks. You can google any company and attach the word scam to it, I know I would be much more motivated to post about how bad a company was, had I suffered a loss. Whereas if I made money, where would be my motivation to post.In my case the motivation is research as I am thinking of buying in. So that makes three kinds of posters here and anywhere else really, but weighting...
I really can't make a recommendation one way or the other. I certainly agree with you that people are more likely to post negative opinions if they have lost money. I think I already outlined the positives from my point of view re. Alpari. As for the negatives...well, I mentioned the price feed issues I was having. They haven't happened today yet.

I haven't noticed any blatant price spikes. I don't use stops or limit orders so I can't comment on those. Their reticence to name liquidity provides is very odd I think but their prices appear to be the same as every other broker's charts I've watched so unless they are all conspiring to rig the prices I wouldn't say that their actual prices are odd either. I'm afraid I can't be much help really.

I agree that the money laundering thing is a red herring really. I'm sure I posted about it before. I find the procedure of opening an account difficult enough with some brokers as it is.
  • #1,031
  • May 28, 2013 4:37am May 28, 2013 4:37am
Hi Brokerest,

Welcome to the forum

Quoting Brokerest
a Q direct to Alpari.. Why do you advertise 1:50 leverage on precious metals for mt5, and 1:200 on mt4 Classic on the account features page? I ask because someone has made a mistake I think. If you click on product list and compare classic MT4 to the MT5 'ecn' (get to the 'ecn' later),under these categories that state 200 and 50, you actually get to a page that gives them both the same leverage on precious metals at 50:1 ?
The leverage on precious metals on MT5 is 1:50 as the account structure is different.


Quoting Brokerest
Well I found this and FSA stuff http://en.wikipedia.org/wiki/Alpari_(UK)_Limited Seems to me that they have only been fined for not carrying out money laundering checks.
We were fined because our anti money laundering checks were in place, however they were not robust enough.

Quoting Brokerest
You can google any company and attach the word scam to it, I know I would be much more motivated to post about how bad a company was, had I suffered a loss. Whereas if I made money, where would be my motivation to post.In my case the motivation is research as I am thinking of buying in. So that makes three kinds of posters here and anywhere else really, but weighting must be added to the fact the majority of posts will be complaints.I have not read enough on Alpari uk to warrant their dismissal as yet, not even on forexpeacearmy. So guide me on...
I concur – the larger majority of posts are made when trades go south. This is something of a common thread with all budding traders. If they have a good day, well it just underscored what a genius they were– when they have a bad day (and there may be plenty), then usually it's because of something/someone/everyone else. However, I can assure you that what a lot of traders describe as less than customer friendly acts on their posts, are nothing more sinister than the physical enactment of the Laws of Supply and Demand.

However, that's what forums are for. FX traders swap "war stories" and its therapeutic value shouldn't be underestimated.

I hope that this goes some way to helping.


Alex

________
Alexander Chadwick
Alpari (UK) Representative
  • #1,032
  • May 28, 2013 5:12am May 28, 2013 5:12am
Hi ukmanthailan,

Quoting ukmanthailan
what I would like to know is if any of the bids and offers being displayed on the MT5 platform originate from Alpari themselves.
ECN accounts rely on the participation of interested parties to place their Bids/Offers in the market. On our No Dealing Desk forex execution, we simply pass on the best prices we receive from our liquidity providers. That means when our liquidity providers tighten their spreads, you will see our spreads tighten likewise and vice versa.


Quoting ukmanthailan
Another question I would like Alpari to answer is whether the virtual dealer plugin is available on MT5 and if so, do they use it?
Alpari UK does not use virtual dealer, we have NDD. All brokers, without exception, manage risk with software. At Alpari we use a proprietary tailored solution to the problem of risk-management and simultaneous multi-currency execution for matching trades.


Alex

________
Alexander Chadwick
Alpari (UK) Representative
  • #1,033
  • May 28, 2013 5:23am May 28, 2013 5:23am
I DO NOT TRUST THIS BROKER.
http://www.nfa.futures.org/basicnet/...px?seqnum=3359
  • #1,034
  • May 28, 2013 5:27am May 28, 2013 5:27am
Quoting Alpari UK
Hi ukmanthailan, {quote}ECN accounts rely on the participation of interested parties to place their Bids/Offers in the market. On our No Dealing Desk forex execution, we simply pass on the best prices we receive from our liquidity providers. That means when our liquidity providers tighten their spreads, you will see our spreads tighten likewise and vice versa. {quote}Alpari UK does not use virtual dealer, we have NDD. All brokers, without exception, manage risk with software. At Alpari we use a proprietary tailored solution to the problem of risk-management...
Thank you for taking the time to answer my question. However, I'm still not completely clear on the ECN bids and offers. When I look at the market depth on MT5, are all those quotes from 3rd parties, i.e. none of them are from Alpari?

EDIT: entheos -that filing relates to Alpari US.
  • #1,035
  • May 28, 2013 5:33am May 28, 2013 5:33am
Quoting entheos
I DO NOT TRUST THIS BROKER.http://www.nfa.futures.org/basicnet/...px?seqnum=3359
Hi entheos,

I'm sorry you feel this way. However, I am not here to discuss Alpari (US). I'm happy to help with any queries you may have with regards to Alpari (UK).

Alex

________
Alexander Chadwick
Alpari (UK) Representative
  • #1,036
  • May 28, 2013 5:39am May 28, 2013 5:39am
Quoting ukmanthailan
{quote}Thank you for taking the time to answer my question. However, I'm still not completely clear on the ECN bids and offers. When I look at the market depth on MT5, are all those quotes from 3rd parties, i.e. none of them are from Alpari?
Hi ukmanthailan,

Happy to help

That is correct – all the quotes are from our liquidity providers.


Alex

________
Alexander Chadwick
Alpari (UK) Representative
  • #1,037
  • May 28, 2013 5:41am May 28, 2013 5:41am
Thanks Alex.

Have a good day
  • #1,038
  • May 28, 2013 5:53am May 28, 2013 5:53am
Quoting ukmanthailan
Thanks Alex. Have a good day
My pleasure - have a good trading day ahead ukmanthailan

Alex

________
Alexander Chadwick
Alpari (UK) Representative
  • #1,039
  • May 29, 2013 5:06am May 29, 2013 5:06am
Whats about these massive connections problems with MT4
being reported all over internet..

It seems Alpari isnt affected. Till now..

What did you done or better say what did you not done
How to opt out annoying user signatures ??
  • #1,040
  • May 29, 2013 6:54am May 29, 2013 6:54am
Quoting Toranaga
Whats about these massive connections problems with MT4being reported all over internet.. It seems Alpari isnt affected. Till now.. What did you done or better say what did you not done
Good to hear

________
Alexander Chadwick
Alpari (UK) Representative
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