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Alpari.co.uk Discussion

  • #1,701
  • Jan 16, 2015 4:57am Jan 16, 2015 4:57am
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.
An important asset that can and will be sold are debts that are owed to Alpari - if you are looking at a negative balance then that includes you. Recievers are particuarly adept at recovering these types of liabilities...

not ideal...
  • #1,702
  • Jan 16, 2015 4:59am Jan 16, 2015 4:59am
Quoting BBCMicro
{quote} An important asset that can and will be sold are debts that are owed to Alpari - if you are looking at a negative balance then that includes you. Recievers are particuarly adept at recovering these types of liabilities... not ideal...
What do you mean by " negative balance then that includes you." , I had about £2000 so does it mean I will get all my money ?
  • #1,703
  • Jan 16, 2015 5:01am Jan 16, 2015 5:01am
Quoting tafadzwa02
{quote} What do you mean by " negative balance then that includes you." , I had about £2000 so does it mean I will get all my money ?
who knows, worst case u get nothing ..
  • #1,704
  • Jan 16, 2015 5:03am Jan 16, 2015 5:03am
I've just sent a withdrawal which will probably take ages but hey ho!

Just wondering, how many of you guys/girls are in negative?

Lak
  • #1,705
  • Jan 16, 2015 5:06am Jan 16, 2015 5:06am
Quoting pinktrade
At this moment I wonder what was the amount Alpari lost that forced them into insolvency.
reported to be near 35-40 Million Pounds
  • #1,706
  • Jan 16, 2015 5:07am Jan 16, 2015 5:07am
Quoting tafadzwa02
{quote} What do you mean by " negative balance then that includes you." , I had about £2000 so does it mean I will get all my money ?
If you have +£2000 in your acct you *should* get all your money back although the timeframes are likely to be long :-(

my point was that if you were long X/CHF yesterday your balance is likely to be negative and therefore you are an asset that can be sold to a debt recovery organisation by the reciever.

BBCMicro
  • #1,707
  • Jan 16, 2015 5:10am Jan 16, 2015 5:10am
I went long into Gold and had a really nice position, now my funds which I have withdrawn are in the hands of the gods. I can't trade any more until my funds are honoured, what a messed up 2 days in the forex markets.

Still, I will walk away, practice my trading knowing I did everything right yesterday and came out on top despite the majority and wait to see which brokers start to fall over. At least this exercise has shown which Broker stands strong with a good risk management built into the operational running.
  • #1,708
  • Jan 16, 2015 5:14am Jan 16, 2015 5:14am
I have used Alpari, and they are very good. Customer service is excellent and the withdrawal process is not long at all, it just depends on the time you request to withdraw your money.
0% FEAR 100% GREED
  • #1,709
  • Jan 16, 2015 5:17am Jan 16, 2015 5:17am
Quoting AlwaysWinnin
I have used Alpari, and they are very good. Customer service is excellent and the withdrawal process is not long at all, it just depends on the time you request to withdraw your money.

Different scenario now, it will be in the hands of the administrator unless they can find the money to keep trading.
A contrarian; I always disagree.
  • #1,710
  • Jan 16, 2015 5:18am Jan 16, 2015 5:18am
Quoting AlwaysWinnin
I have used Alpari, and they are very good. Customer service is excellent and the withdrawal process is not long at all, it just depends on the time you request to withdraw your money.
Wake up

They are not answering the phone
  • #1,711
  • Jan 16, 2015 5:18am Jan 16, 2015 5:18am
Quoting AlwaysWinnin
I have used Alpari, and they are very good. Customer service is excellent and the withdrawal process is not long at all, it just depends on the time you request to withdraw your money.
Christ dude, they've gone bust!!!
How long did it take for people to get their money back when Worldspreads went under?
used to be undecided but nowadays can't make my mind up
  • #1,712
  • Jan 16, 2015 5:19am Jan 16, 2015 5:19am
I think it will be difficult for people that where positive from this move to be able to get really the gains.

Here you can see that its the broker that takes the risk and not the client.
The leverage offered in retail forex is crazy.
In case of black swan you see that its the broker that plunge and not you

For people that where negative, you should be thankfull not to own the margin call because I can guarantee you that for hedge funds that lost it all they are still bound to pay.

I think the account will be insurance protected up to this but not including this event so no gains for the lucky and zero account for the others
  • #1,713
  • Jan 16, 2015 5:23am Jan 16, 2015 5:23am
So where do us X-Alpari clients go to Trade now?
  • #1,714
  • Jan 16, 2015 5:25am Jan 16, 2015 5:25am
I feel for you guys with Alpari accounts, best of luck with everything
Moral of the story, never trust a 'financial expert', especially a Central Banker one.....
used to be undecided but nowadays can't make my mind up
  • #1,715
  • Jan 16, 2015 5:28am Jan 16, 2015 5:28am
http://www.alpari.co.uk/client-updat...t-announcement
If you believe in yourself anything is possible !!
  • #1,716
  • Jan 16, 2015 5:29am Jan 16, 2015 5:29am
Quoting Lover Man
{quote} Wake up They are not answering the phone
Wow! I am aware of what has happened, but luckily for me I took a break from trading back in October and withdrew all my money. This is very sad!
0% FEAR 100% GREED
  • #1,717
  • Jan 16, 2015 5:31am Jan 16, 2015 5:31am
Quoting mrcreosote
I feel for you guys with Alpari accounts, best of luck with everything Moral of the story, never trust a 'financial expert', especially a Central Banker one.....
Its a sad day, but luckily for me, I withdrew all my funds from Alpari just before Christmas.
0% FEAR 100% GREED
  • #1,718
  • Jan 16, 2015 5:35am Jan 16, 2015 5:35am
Quoting AlwaysWinnin
{quote} Its a sad day, but luckily for me, I withdrew all my funds from Alpari just before Christmas.

i have money with them can someplease tell me what happens in these situations..i have over 16k with them..can i claim it back

plz someone outline what i need to do at this stage..
  • #1,719
  • Jan 16, 2015 5:38am Jan 16, 2015 5:38am
Quoting lakhan
I've just sent a withdrawal which will probably take ages but hey ho! Just wondering, how many of you guys/girls are in negative? Lak

how do u do this?
  • #1,720
  • Jan 16, 2015 5:38am Jan 16, 2015 5:38am
Quoting nAVIN2007
{quote} i have money with them can someplease tell me what happens in these situations..i have over 16k with them..can i claim it back plz someone outline what i need to do at this stage..
Yes you can claim it back, as they are FCA regulated up to 50k is protected by them. Once they go though this process, they are only insolvent, they will either resume operating, if they can find the money, or the most likely scenario they will be wound up. At that stage an administrator will be appointed, who will be in charge of the assets and liabilites. Once that administrator is in place he will also manage all the refunds if there is enough cash left. If he determines the assets do not cover the liabilities, he will notify the FCA, who will then administer the refund process.

Your money is safe, it is just not clear what process you have to go through to get it back from them. Hang tight, they will have to give out press releases covering just that, the FCA will stay on top of them.
A contrarian; I always disagree.
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