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  • #1,321
  • Jan 30, 2014 11:12am Jan 30, 2014 11:12am
Quoting HarriFF
{quote} lol...yeah, tell me about it! Couldnt realistically expect price to reach there, since I only opened order today. But it does raise a couple of issues. I think one trader complained that his account was wiped out (spiking past whatever SL he set): 1. Would Alpari rectify any losses/account wipeouts in cases like this? How difficult do Alpari make it? On the other side, if I had taken advantage and taken profit 2. Would Alpari reclaim any profits I would have made?
Yes, Alpari will revoke any trades caught up in spikes but only within a 24hr window.

I doubt you could have hit any TP within that huge spike as the spread would have been just as large.
Politics is the womb in which war develops.
  • #1,322
  • Jan 30, 2014 11:22am Jan 30, 2014 11:22am
i think we all have or can make our own judgements to why these spikes appear with Alpari and don't seem to be on other platforms

unfortunately other brokers have different tactics to foul there traders
if 70% loose anyway of their own accord and 70% is generous as supposedly its 95%
then either way brokers should n't really need to try trip up their opponent when nr the scoring box

Good brokers are supposed to hedge there winning traders and let the others trip themselves up
  • #1,323
  • Jan 30, 2014 12:28pm Jan 30, 2014 12:28pm
Top marks to Alpari UK.

I got stopped out of a GBPJPY long one second before the FOMC, when it spiked down and gapped 400 pips. Earlier today I would have got stopped out anyway at -60 pips, and I told them that I was happy to accept that loss. They have now re-instated the trade which is now in profit! I've put a stop at BE.

I hasten to add that this is an absolute tiddler, so it was probably a low priority matter compared with other peoples issues. Nevertheless, credit to them for sorting this.
  • #1,324
  • Jan 30, 2014 1:27pm Jan 30, 2014 1:27pm
Sledgehammer, well i am also very happy and i am proud of Alpari Uk, i have been using them since 2008 and when the spike , wiped out my account yesterday, it rose alot of doubt in my mind towards alpari, but seeing it sorted out today reminds me of the Alpari i believe in. they have been around for a while and they sure are a good broker.
  • #1,325
  • Jan 30, 2014 1:41pm Jan 30, 2014 1:41pm
They've only sorted it because its been highlighted on a public forum
and even if they did ask for some pages to be deleted Google would already have the cached version, so will be in public view for quite along time

how many have n't had their trades reinstated or reimbursed
  • #1,326
  • Jan 30, 2014 3:25pm Jan 30, 2014 3:25pm
Hi
I saw the pound spike too.It was pretty scary, glad that there was no active trade.
For such broker activity, i hope someone could write an indicator allowing a snap taken when a spike 50 plus pips longs happens in a second or so.
  • #1,327
  • Jan 30, 2014 3:46pm Jan 30, 2014 3:46pm
Well, I had an active GU short trade with a nice t/p @1.55, closed in profit, interestingly with no slippage at all. I'm in a way sorry they corrected that one as well... but on the other hand that's only fair. I would have phoned them right away, would it have been the other way around...

Scary, that these things happen lately. I use them for 3 years now, first major issue. Makes you think if one should use s/l at all...
Fail better.
  • #1,328
  • Jan 30, 2014 5:18pm Jan 30, 2014 5:18pm
Quoting Alpari UK
{quote} {quote} {quote} {quote} {quote} Hi everyone, As you have already mentioned, we have encountered issues with prices from our liquidity provides. These are currently being investigated but the charts have now been corrected. Should you still see any incorrect candles, please refresh your chart. I do apologise for any inconvenience caused. We are here to help, so if any of your live trades were affected, please contact our Client Services team at [email protected] with details of such trades for...
As you know my posts i was always with Alpari and i like the company but reading always the same about
and i read that to often..

"we have encountered issues with prices from our liquidity providers"

its like reading a insider joke. What kind of liquidity providers are that. Do they throw chicken bones at news sometimes ??

"We are here to help, so if any of your live trades were affected, please contact our Client Services team with details of such trades for review."


Nope.


Lets imagine,

being, into a trade with SL 300 Pips (for collateral) and 2 or 4 Lots when a 800 pips Tsunami hits you,
you are DONE for this day. Even if i get my money back 1:1, who will pay my Brain stress or my
potential gain that i missed because i quited trading for this day (after News) because of this alien movement aso.

I think this will not end today but no answer is better that this one. We are not in the Kindergarten,
even if some Users behave so. Me not.

To make it clear, your Problem with the liquidity providers is NOT mine.

We play with money to make money, so i expect 110% accurate money worth
and not a phantasy value that i can correct later. Its about time and money waste.

I dont expect a reply to that but have it in mind as a reputable Trading company
'sponsoring West Ham United' or doing other things.

How to opt out annoying user signatures ??
  • #1,329
  • Edited 10:39am Jan 31, 2014 5:18am | Edited 10:39am
Yesterday I had an issue with my live account. I had to complain to the Customer Service but I also wrote a message to Alex Chadwick (the Alpari UK representative in this thread) seeking help.

It all ended well for me and I am pretty sure that Alex' intervention was crucial to the resolution. He asked me to share my experience in this thread, so I will do it.

I think it may be interesting for everybody since I had to provide proof that I was right and they were wrong. So perhaps you may want to read it.

1.- At 9:21am there is a pricing issue. My MT4 charts are ok but the terminal is nonsense. My setup is in the GBPUSD. I have several buying and selling orders, so that winners accumulate and losers get closed soon. So my system consists in letting winners run and cut the losers very soon. My actual setup was running from January 23 (GBPUSD going down since then), so I had several selling orders running and winning and just one buying order that was soon to be closed for good. At 9:21am, my terminal says we've reached 1.59200 (my TP for the selling orders) and my equity has increased A LOT, which is absolutely impossible. Then, a lot of orders are closed and everything is wrong.

2.- I write an email to the Customer Services describing the problem in my poor English. They send me an automatic response saying "your email has been received and will be replied soon". A little bit later, my equity changes but it is not right again. It is not as high as it was but it is a little bit higher than it should be. You may think I have no reason to complain, but at that moment I'm thinking I want my setup back again to where it was. So I write a second email asking them if it is possible to restore the orders closed or it is technically impossible. Again, there comes the automatic response.

3.- Later in the afternoon, my equity changes again. This time it is clearly below from where it should be. Now I am annoyed. I write a third email complaining. Again, an automatic response.

4.- Minutes later, I get another email which I'll quote: "The orders in question have been restored to their state prior to these pricing issues, as required by the FCA, who require us to restore the accounts as if the event had never ocurred." Clearly, this is untrue. No order has been restored and my equity has been wrongly reduced.

5.- I write another email telling them they have not restored anything and their calculations are clearly wrong. I also look for this thread in Forex Factory and write a message to Alex asking him for help, as I think I am kicking a silent wall. He quickly answers me and says they will investigate the issues. Curiously, his answer is more informative and kind than the one from the Customer Service.

6.- At midnight I receive the Daily Statement email which Alpari clients receive every day. To my surprise, the numbers in the Statement are exact and correct as if anything had happened. So I have proof that their solution with my account and my equity was clearly wrong. I even figure out that they have mixed my equity with my balance. I immediately send them back a copy of the Statement and another copy for Alex. Again, the automatic response from the team.

7.- This morning Alex sends me an email saying they told him I sent them the Statement, so I know he's looking after my problem. Later, my account gets back to where it was. My equity is correct and my orders are in place again as if anything had happened. Problem solved.

I would like to thank Alex for his intervention and for his answers. I am pretty sure that he helped with this. But I also want to say that I am still waiting for any kind of real information from the Customer Team or even some real feedback. At the end of the day, they didn't do their job correctly until I sent them proof that I was right and they were wrong. They sent me an email saying they had restored everything and this was not true and they did something completely different. It might have been better for them to just say "Look, we are investigating and maybe it will take some time", or simply do what they say they did. There is something in the whole process that reflects a lack of seriousness in something that affects people's money.

But again, it has ended well. The bottom line is: it is possible to get back to the exact situation before the problem happened, and the Statement can be very helpful to solve the problem. And Alex is here to help. I will stay with Alpari UK.

Thanks Alex,
Carles
Visit my Drumming & Percussion Blog - DrumsCult com
  • #1,330
  • Jan 31, 2014 5:56am Jan 31, 2014 5:56am
It's good to know that the issues are resolved. This is of course something you'd expect a decent broker to do, but nevertheless. There is enough proof out there that a lot of bad brokers and outright thieves exist, but Alpari is clearly one of the better brokers. Thank you.

What irritates me, is these spikes happening at all. We can be happy they had this magnitude, all the other minor spikes are not detected and not talked about so much.

The other thing: no slippage in my closed short. In other cases of high volatility, slippage is almost standard. So: if the system works this way in a time of high stress (I can only imagine the number of stop-losses having been executed), why not during other times?
Fail better.
  • #1,331
  • Jan 31, 2014 5:59am Jan 31, 2014 5:59am
That should be the test of a good broker: how responsive & honest their customer services are, and how quick they are to rectify a situation. It seems although things got sorted out eventually, CS wasnt the best, but perhaps under the circumstances their customer services were under alot of pressure?

Just makes me wonder who the liquidity provider is tho, why cant Alpari protect themselves (and their customers) from this kind of thing, and whether they will continue to use the provider going forward?
  • #1,332
  • Feb 3, 2014 1:13pm Feb 3, 2014 1:13pm
@ Mr. Alpari

PLEASE DO NOT CLEAN UP THIS POST!!!!!!!

This guy lost his account on Alpari with spikes

http://www.forexfactory.com/attachme...1&d=1391032491

What is your answer???
  • #1,333
  • Feb 3, 2014 1:34pm Feb 3, 2014 1:34pm
Quoting Schickeria
@ Mr. Alpari PLEASE DO NOT CLEAN UP THIS POST!!!!!!! This guy lost his account on Alpari with spikes http://www.forexfactory.com/attachme...1&d=1391032491 What is your answer???
They where on wrong side
I want scalp that spike
Once scalper always scalper
  • #1,334
  • Feb 3, 2014 7:19pm Feb 3, 2014 7:19pm
Alpari - T&C's change(s)

Got an email saying Alpari has changed their customer agreement, namely:

Quote
There has also been one addition to our new Client Agreement, as follows: Obligations are clarified in Clause 6


From clause 6, there's this section (bold is mine):

Quote
Sec 6.4
Unless the Customer has notified the Company in writing to the contrary, the Company may hold Segregated Funds on the Customer’s behalf in a Segregated Account located outside the United Kingdom or pass money held on the Customer’s behalf to an intermediate broker, settlement agent or OTC counterparty located outside the United Kingdom. The legal and regulatory regime applying to any such person will be different from that of the United Kingdom and in the event of the insolvency or any other equivalent failure...


This sounds suspiciously like PFG and/or MF Global.

  1. Accounting irregularities investigated regarding company accounts
  2. No customers were able to trade except to liquidate positions
  3. PFGBest had $400MM in customer segregated funds
  4. PFGBEST was not authorized to release any funds
  5. MF Global...the 'honourable' Jon Corzine

It sounds very suspicious to take clients money offshore into 3rd party accounts and in the event of liquidation you can claim impunity under non-jurisdictional law of the 'ghost' account territory. Are these accounts to be held in the Cayman Islands? This smells fishy, like the calm before the storm and you're creating the necessary legalese to cover yourselves...or am i being too cynical? Do you envisage a market equivalent bank run as the SP500 starts painting big red candles?

Politics is the womb in which war develops.
  • #1,335
  • Feb 4, 2014 12:50am Feb 4, 2014 12:50am
Quoting FiatFap
Alpari - T&C's change(s) Got an email saying Alpari has changed their customer agreement, namely: {quote} From clause 6, there's this section (bold is mine): {quote} This sounds suspiciously like PFG and/or MF Global. Accounting irregularities investigated regarding company accounts No customers were able to trade except to liquidate positions PFGBest had $400MM in customer segregated funds PFGBEST was not authorized to release any funds MF Global...the 'honourable' Jon Corzine It sounds very suspicious to take clients money offshore into...
The shit is about to hit the fan and I bet they are now moving all your hard earned money to private funds in places like Belize where courts have no reach. Run, now that you have legs
  • #1,336
  • Feb 4, 2014 2:00am Feb 4, 2014 2:00am
Quoting Schickeria
@ Mr. Alpari PLEASE DO NOT CLEAN UP THIS POST!!!!!!! This guy lost his account on Alpari with spikes http://www.forexfactory.com/attachme...1&d=1391032491 What is your answer???
From your previous cleaned up posts, it's clearly evident you have grudge, love a little drama and want to stir up controversy. Move along mate. Have a few steins on me - go on! I'll even throw-in a frankfurter and a strudel


Quoting Goodvalley
Yesterday I had an issue with my live account. I had to complain to the Customer Service but I also wrote a message to Alex Chadwick (the Alpari UK representative in this thread) seeking help. It all ended well for me and I am pretty sure that Alex' intervention was crucial to the resolution. He asked me to share my experience in this thread, so I will do it. I think it may be interesting for everybody since I had to provide proof that I was right and they were wrong. So perhaps you may want to read it. 1.- At 9:21am there is a pricing issue. My...

Quoting LarryDarrell
It's good to know that the issues are resolved. This is of course something you'd expect a decent broker to do, but nevertheless. There is enough proof out there that a lot of bad brokers and outright thieves exist, but Alpari is clearly one of the better brokers. Thank you. What irritates me, is these spikes happening at all. We can be happy they had this magnitude, all the other minor spikes are not detected and not talked about so much. The other thing: no slippage in my closed short. In other cases of high volatility, slippage is almost standard....

Quoting HarriFF
That should be the test of a good broker: how responsive & honest their customer services are, and how quick they are to rectify a situation. It seems although things got sorted out eventually, CS wasnt the best, but perhaps under the circumstances their customer services were under alot of pressure? Just makes me wonder who the liquidity provider is tho, why cant Alpari protect themselves (and their customers) from this kind of thing, and whether they will continue to use the provider going forward?
+1
  • #1,337
  • Feb 4, 2014 2:09am Feb 4, 2014 2:09am
Quoting High.Five
{quote} From your previous cleaned up posts, it's clearly evident you have grudge, love a little drama and want to stir up controversy. Move along mate. Have a few steins on me - go on! I'll even throw-in a frankfurter and a strudel {quote} {quote} {quote} +1

  • #1,338
  • Feb 4, 2014 4:24am Feb 4, 2014 4:24am
Quoting FiatFap
Alpari - T&C's change(s) Got an email saying Alpari has changed their customer agreement, namely: {quote} From clause 6, there's this section (bold is mine): {quote} This sounds suspiciously like PFG and/or MF Global. Accounting irregularities investigated regarding company accounts No customers were able to trade except to liquidate positions PFGBest had $400MM in customer segregated funds PFGBEST was not authorized to release any funds MF Global...the 'honourable' Jon Corzine It sounds very suspicious to take clients money offshore into...
Quoting Makavell
{quote} The shit is about to hit the fan and I bet they are now moving all your hard earned money to private funds in places like Belize where courts have no reach. Run, now that you have legs
Hi,

The clause referred to above is clause 6.4 from the old Customer Agreement. The new Client Agreement replaces the Customer Agreement and Terms of Business on 3 February 2014 for new clients, and on 10 February 2014 for existing customers. All of these documents can currently be found on the website. The new Client Agreement contains wording that is better for our clients and there is no mention of funds being kept outside the UK.

The email that was sent to existing clients yesterday from Alpari (UK) Limited mentioned the addition of the wording in clause 6 of the new Client Agreement.
Clause 6 of the new Client Agreement is about Alpari (UK)’s reporting obligations under the European Market Infrastructure Regulation (EMIR).


Alex

________
Alexander Chadwick
Alpari (UK) Representative
  • #1,339
  • Feb 5, 2014 3:35am Feb 5, 2014 3:35am
Quoting High.Five
{quote} From your previous cleaned up posts, it's clearly evident you have grudge, love a little drama and want to stir up controversy. Move along mate. Have a few steins on me - go on! I'll even throw-in a frankfurter and a strudel {quote} {quote} {quote} +1
Can we have a bit more clearity about the subject mentioned above.I feel quite uncomfortable what is quoted on your new customer agreement.
Thanks
  • #1,340
  • Feb 5, 2014 5:28am Feb 5, 2014 5:28am
Quoting magicpips
{quote} Can we have a bit more clearity about the subject mentioned above.I feel quite uncomfortable what is quoted on your new customer agreement. Thanks
Hi magicpips,

I'm happy to help. Can you be a little more specific as to which part of the Client Agreement you'd like clarity on?


Alex

________
Alexander Chadwick
Alpari (UK) Representative
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