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  • #1,681
  • Jan 16, 2015 4:21am Jan 16, 2015 4:21am
they have closed two trades in loss...

Apart from my deposit money can i do smthng about the money i lost from these trades?
The good thing with the future is that it is progressively approaching...
  • #1,682
  • Jan 16, 2015 4:21am Jan 16, 2015 4:21am
Big picture
I dont know what else is going to happen within the next few days. Maybe there will be some more consequences through domino effect thats even going to affect people on the street? Maybe a lot more brokers will go bust, maybe not. Maybe a lot of banks will go bust, maybe not. At least i am of the well researched opinion the current financial institutions is existing on a highly precarious, highly leveraged basis. Society as a whole is so complex these days that nobody really knows all of how it works and is interconnected. Some people know more then others, but most people have little grasp of how it fits together. I know a bank dude or two and i will contact them and see if they have any grip on the situation.
My signature is: "Classified".
  • #1,683
  • Jan 16, 2015 4:23am Jan 16, 2015 4:23am
Guys, just relax and calm down because as trader121 said before, your funds are segregated and safe.

The best way is to contact an Alpari representative and have a discussion about how to withdraw your funds. Alpari announced: "This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules. "

This means that at the moment they are insolvent, not bankrupt. There is a high probability for them to be able to cover the debt they have and things to get back in line.

Most important is :
1. Accounts are segregated as per FCA rules.
2. They are not yet bankrupt.

As soon as you have some sort of news about the funds withdrawal, you could post it here for others to know.
  • #1,684
  • Jan 16, 2015 4:27am Jan 16, 2015 4:27am
I just tried to call Alpari and they have a message playing which says due to recent event Alpari are not accepting any calls.

That's not good.
  • #1,685
  • Jan 16, 2015 4:28am Jan 16, 2015 4:28am
Quoting pinktrade
Guys, just relax and calm down because as trader121 said before, your funds are segregated and safe. The best way is to contact an Alpari representative and have a discussion about how to withdraw your funds. Alpari announced: "This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules. " This means that at the moment they are insolvent, not bankrupt. There is a high probability for them to be able to cover the debt they have and...
In general i agree and have the same sentiment, at least until proven otherwise.
But i mean if i had two 5.0 positions open and they closed at loss, i might have a bit of an angry face right now.
My signature is: "Classified".
  • #1,686
  • Jan 16, 2015 4:29am Jan 16, 2015 4:29am
Quoting Lover Man
I just tried to call Alpari and they have a message playing which says due to recent event Alpari are not accepting any calls. That's not good.
Imagine that every client they have is trying to call them, no matter if the client lost anything or not during yesterday's move. Everyone is worried about the funds in their account.
  • #1,687
  • Jan 16, 2015 4:30am Jan 16, 2015 4:30am
Can someone tell me what will happened with our trades that they closed?

I know right now there is a lot of panic and very little facts but maybe someone that works in the financial industry could help?

Again, I apologize for the panic- I just never thought in a million years this would happen. And I'm sure there are people in worse situations than me, luckily I only had a small account. But if I had over 100k in my account I would be sick to my stomach right now.

I'm so upset because I was finally showing steady profit and now this happens….that's karma for you.
  • #1,688
  • Jan 16, 2015 4:31am Jan 16, 2015 4:31am
Word of advice for the ones with Alpari accounts. Try to make an withdrawal (any way you can) and be among the first to do that. The funds will probably be returned to the clients per rule "First come, first served". This is usually what happens in this cases.
  • #1,689
  • Jan 16, 2015 4:33am Jan 16, 2015 4:33am
Quoting capricorn34
Can someone tell me what will happened with our trades that they closed? I know right now there is a lot of panic and very little facts but maybe someone that works in the financial industry could help? Again, I apologize for the panic- I just never thought in a million years this would happen. And I'm sure there are people in worse situations than me, luckily I only had a small account. But if I had over 100k in my account I would be sick to my stomach right now.
there i dont have 100k but 10k and already sick of it.

they are regulated, Bafin & FCA. Fuck them if I lost 10 % or more, I will stop trading ! If u cant "trust" such a broker whoelse you can "trust" ...
  • #1,690
  • Jan 16, 2015 4:34am Jan 16, 2015 4:34am
Quoting pinktrade
Word of advice for the ones with Alpari accounts. Try to make an withdrawal (any way you can) and be among the first to do that. The funds will probably be returned to the clients per rule "First come, first served". This is usually what happens in this cases.
Erh, well, they are currently insolvent, not bankrupt right? So maybe in two days they got some more funds and all will be well? Probably not but its a possibility. Maybe i should change my broker anyway, but i havent found one that seems better.

Im a friggin technical analyst, not a broker/bank person. I look at the numbers and do the voodoo.
My signature is: "Classified".
  • #1,691
  • Jan 16, 2015 4:37am Jan 16, 2015 4:37am
Everyone, just talked with fca and they said they dont know anything about the current situation of alpari uk, but sadly they said you need to talk to hmrc phone number 0300 200 3300, or financial service companies 0800 678 1100
  • #1,692
  • Jan 16, 2015 4:37am Jan 16, 2015 4:37am
Attached Image (click to enlarge)
Click to Enlarge Name: uhm.jpg Size: 151 KB

That kind of tells me maybe its just not Alpari being insolvent...
My signature is: "Classified".
  • #1,693
  • Jan 16, 2015 4:39am Jan 16, 2015 4:39am
Quoting capricorn34
Can someone tell me what will happened with our trades that they closed? I know right now there is a lot of panic and very little facts but maybe someone that works in the financial industry could help? Again, I apologize for the panic- I just never thought in a million years this would happen. And I'm sure there are people in worse situations than me, luckily I only had a small account. But if I had over 100k in my account I would be sick to my stomach right now. I'm so upset because I was finally showing steady profit and now this happens….that's...
First of all you should talk to your broker. If I would be to assume, I would say that all losses experienced on your account will be validated - you are stuck with those losses.
  • #1,694
  • Jan 16, 2015 4:39am Jan 16, 2015 4:39am
Alpari UK operates a strict Safety of Client Funds policy. All client funds are fully segregated into a special client account and kept separate from Alpari UK company funds. Segregation ensures that client funds will not be used to pay back creditors in the unlikely event of Alpari UK’s default or insolvency.
  • #1,695
  • Jan 16, 2015 4:39am Jan 16, 2015 4:39am
If you're with Alpari UK you lot should be fine - FSA protect all accounts to £80k ish from memory. So even if they didn't segregate their accounts when they should of, FSA should cover it.
  • #1,696
  • Jan 16, 2015 4:40am Jan 16, 2015 4:40am
Also there is this:
http://www.marketwatch.com/story/swi...ncy-2015-01-16

LONDON (MarketWatch) -- Moves on the Swiss franc have forced online currency trader Alpari (UK) into insolvency, the London-based broker said Friday. Thursday's decision by the Swiss National Bank to remove its euro/franc exchange-rate floor led to "exceptional" volatility and lack of liquidity, Alpari said in a statement. "This has resulted in the majority of clients sustaining losses which has exceeded their account equity," it noted. These losses were then passed onto the trading house, leading it into insolvency. Another London online broker, IG Group, said Thursday it will take a potential hit of £30 million ($45 million) due to the Swiss currency move.

Not much new there though, but it was written many hours ago.
My signature is: "Classified".
  • #1,697
  • Jan 16, 2015 4:41am Jan 16, 2015 4:41am
Quoting yaed
{quote} Erh, well, they are currently insolvent, not bankrupt right? So maybe in two days they got some more funds and all will be well? Probably not but its a possibility. Maybe i should change my broker anyway, but i havent found one that seems better. Im a friggin technical analyst, not a broker/bank person. I look at the numbers and do the voodoo.
Yaed, an insolvent company still have assets (of all kind) which are to be sold and cover those losses. I am not a lawyer but still have life experience but I cannot talk for anyone here, just trying to help. Maybe their assets will cover the losses, maybe not.
The most important thing at this moment is that your funds should be safe in a segregated account.
  • #1,698
  • Jan 16, 2015 4:45am Jan 16, 2015 4:45am
At this moment I wonder what was the amount Alpari lost that forced them into insolvency.
  • #1,699
  • Jan 16, 2015 4:46am Jan 16, 2015 4:46am
Quoting pinktrade
{quote} Yaed, an insolvent company still have assets (of all kind) which are to be sold and cover those losses. I am not a lawyer but still have life experience but I cannot talk for anyone here, just trying to help. Maybe their assets will cover the losses, maybe not. The most important thing at this moment is that your funds should be safe in a segregated account.
Yah i hear you. I think so too.
My signature is: "Classified".
  • #1,700
  • Jan 16, 2015 4:57am Jan 16, 2015 4:57am
Quoting triphop
If you're with Alpari UK you lot should be fine - FSA protect all accounts to £80k ish from memory. So even if they didn't segregate their accounts when they should of, FSA should cover it.
It's £50k for trading accounts, £85k for bank accounts.
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