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  • #1,741
  • Jan 16, 2015 6:18am Jan 16, 2015 6:18am
Hilarious, I never thought this would be happening to me. I´m not even with them for a month yet. Sort of unreal at the moment. I liked them everything went smooth.

Question about this statement "This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us".

That means people get their money back because they might not have been protected? So I can claim money that I can not cover back from them?
  • #1,742
  • Jan 16, 2015 6:20am Jan 16, 2015 6:20am
Quoting goldfinch
{quote} You are very welcome, the last thing you need is worry about your money. It may take a bit of time but you will get it back.
great thank u ..im down slightly 700 pounds but majority i will get back back (education fees)..its crazy how so much can change from one day to the next
alpari must have been hedging against the swissy going below parity

hopefully we get it back b4 april
  • #1,743
  • Jan 16, 2015 6:22am Jan 16, 2015 6:22am
Quoting whtangpi
{quote} how about clients not located in uk. are they also protected by FCA.can they also get back their money ? Thanks.

EU nationals are as if they were located in UK. The same i believe (without being 100% sure) applies to EU's"alien residents" (who are not located in UK or are EU citizens)

its all a matter of process and patience .....great patience
  • #1,744
  • Jan 16, 2015 6:26am Jan 16, 2015 6:26am
For all those with deposits at Alpari (UK), read this:

http://www.fscs.org.uk/


This will answer all your questions if it ever gets this far and you need to use the FSCS to claim back your deposits.
A contrarian; I always disagree.
  • #1,745
  • Jan 16, 2015 6:27am Jan 16, 2015 6:27am
Quoting whtangpi
{quote} how about clients not located in uk. are they also protected by FCA.can they also get back their money ? Thanks.

phone the numbers

Quoting Berserker
I've just spoken to the FCA ( Financial Conduct Authority ). They were very helpful and have told me there is to be a press release on their site in the next couple of days - although hopefully today - regarding this matter. This is the place to watch - http://www.fca.org.uk/news You can contact the FCA using the following numbers: UK: 0300 500 0597 From abroad: +44 20 7066 1000 They told me they have been receiving a lot of calls about this today - as expected. Good luck everyone!
  • #1,746
  • Jan 16, 2015 6:27am Jan 16, 2015 6:27am
guys, please keep everyone informed here, by any chance you get your money back with withdrawal requests etc
  • #1,747
  • Jan 16, 2015 6:31am Jan 16, 2015 6:31am
Anyone,

Would stoploss have prevented huge loss for those that were in trades that involved CHF?

And how about those on the right side of it; would they be able to claim profit?

Thanks.
  • #1,748
  • Jan 16, 2015 6:35am Jan 16, 2015 6:35am
the alpari press release stated clients had sustained losses exceeding account equity i am right that this only covers people with open trades otherwise an account remains as is and is protected by FCA regulation thanks its prob been answered elsewhere cheers.
  • #1,749
  • Jan 16, 2015 6:35am Jan 16, 2015 6:35am
Quoting watchout4me
Anyone, Would stoploss have prevented huge loss for those that were in trades that involved CHF? And how about those on the right side of it; would they be able to claim profit? Thanks.
No, not with an ECN, there were just no prices available to fill your stops all the way down to 0.74, that's why they are getting hit now, the MM's were fine, they make their own prices whenever and wherever they feel like.
A contrarian; I always disagree.
  • #1,750
  • Jan 16, 2015 6:37am Jan 16, 2015 6:37am
Oh no!

so stoploss won't stop you on the day of doom???

Scary if it's true.
  • #1,751
  • Jan 16, 2015 6:39am Jan 16, 2015 6:39am
Quoting watchout4me
Oh no! so stoploss won't stop you on the day of doom???
Not when nobody is willing to take the other side of it. You need 2 parties to have a trade, if there is nobody interested in the price you are offering, your stop, then you will have no trade.
A contrarian; I always disagree.
  • #1,752
  • Jan 16, 2015 6:43am Jan 16, 2015 6:43am
Apart from ECN brokers, are there other brokers that can guarantee that your stoploss is valid in such event?
  • #1,753
  • Jan 16, 2015 6:45am Jan 16, 2015 6:45am
Quoting watchout4me
Anyone, Would stoploss have prevented huge loss for those that were in trades that involved CHF? And how about those on the right side of it; would they be able to claim profit? Thanks.
I am on right side of it, still blasted. They increased the spread and auto squared off due to lack of funds. I am on fixed spread, when I contacted broker, he flipped and says, I am on variable. When I asked him when you converted from fixed to variable, he stopped replying to my mails.

Sell order eurchf at 1.20079
This order is auto squared off at 09:32:46 at a price 1.16117.
The recorded price on the chart at 9:32:
high 1.15200
low 0.90951

Sell order gbpchf at 1.53534
This order is auto squared off at 09:32:45 at a price 1.53620.
The recorded price on the chart at 9:32
high 1.46439
low 1.41355
  • #1,754
  • Jan 16, 2015 6:48am Jan 16, 2015 6:48am
Guys,

I am sorry to hear that Alpari is in insolvency.

It was the first FCA broker to go down with the Swiss Franc. See the link below..
http://www.atozforex.com/news/breaki...uk-shuts-down/
  • #1,755
  • Jan 16, 2015 6:49am Jan 16, 2015 6:49am
So after all the bad mouthing of some, they were a real ECN after all. Nevetheless, this is the first time I´m personally involved with something like this so I´m interested. I mean it´s not their fault is it? But still they take the hit. So people were careless just like in 2008? Is it always like that?

If I closed my trade 2 min before the announcment and lost it´s my thing. Two minutes later I can claim back?

What does that mean legally? What about those "Forex involves substantial risks" warnings, apparantely not really as long as you can say there was no trade available to trigger my stop loss I can claim money back?
  • #1,756
  • Jan 16, 2015 6:50am Jan 16, 2015 6:50am
Quoting Christianfx
So after all the bad mouthing of some, they were a real ECN after all. Nevetheless, this is the first time I´m personally involved with something like this so I´m interested. I mean it´s not their fault is it? But still they take the hit. So people were careless just like in 2008? Is it always like that? If I closed my trade 2 min before the announcment and lost it´s my thing. Two minutes later I can claim back? What does that mean legally? What about those "Forex involves substantial risks" warnings, apparantely not really as long as you can say...

No, you can't claim any money back from your trading, it gets filled where it gets filled. You can only claim back what you have left in your account.
A contrarian; I always disagree.
  • #1,757
  • Jan 16, 2015 6:53am Jan 16, 2015 6:53am
Hey!

What should i do now, just wait? or...?
I dont have to much money in but, would be great if i get back.
  • #1,758
  • Jan 16, 2015 6:53am Jan 16, 2015 6:53am
my friend who is account manager working for Alpari UK told me they just went crashed and bankruptcy. Now he starting looking for another job.
  • #1,759
  • Jan 16, 2015 6:55am Jan 16, 2015 6:55am
Quoting watchout4me
Apart from ECN brokers, are there other brokers that can guarantee that your stoploss is valid in such event?
Try FxPro - based in London.

I emailed them last night, re. this SNB hoodoo. They confirmed that they operate a guaranteed zero balance policy - ie, you will never end up owing them money. If your account get's screwed for a negative amount, they will cover it.

Have a look at this - this confirms what they have said:

http://www.fxpro.co.uk/group/media/n...g-chf-movement

Once I get my funds back up, I will be looking closely at FxPro as a new broker.
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #1,760
  • Jan 16, 2015 6:56am Jan 16, 2015 6:56am
Luckily I deposited the amount with a credit card/skrill...so in the worst case, I get a chargeback, even if that meant I lose my skrill account...I won't let them get away with it. Who accepts new clients and let them deposit 12 hours before he goes under...wtf.
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