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  • #1,821
  • Jan 16, 2015 8:07am Jan 16, 2015 8:07am
Quoting Michael O.
{quote} Hi, I use ICMarkets. Seems all right. But now when Alpari go bust and yhey just shut it down, I am not sure of anything. Regards Mike
I have an account with IC markets but was trading with alpari, however IC markets confirmed that it was safe to deposit funds and that busniess was as usual
  • #1,822
  • Jan 16, 2015 8:18am Jan 16, 2015 8:18am
Quoting goldfinch
{quote} No because your bid wouldn't get filled.
Ah yes, of course, you are right. Well since everybody knew this.
Attached Image (click to enlarge)
Click to Enlarge Name: thinking about the ec.jpg Size: 116 KB


Also:
Attached Image (click to enlarge)
Click to Enlarge Name: big drop.jpg Size: 148 KB
My signature is: "Classified".
  • #1,823
  • Jan 16, 2015 8:22am Jan 16, 2015 8:22am
Quoting yaed
{quote} Ah yes, of course, you are right. Well since everybody knew this. {image} Also: {image}

A candle doesn't mean there is a price quoted, the CME halted 20 times yesterday and had gaps hundreds of pips big.
A contrarian; I always disagree.
  • #1,824
  • Jan 16, 2015 8:24am Jan 16, 2015 8:24am
Quoting goldfinch
{quote} A candle doesn't mean there is a price quoted, the CME halted 20 times yesterday and had gaps hundreds of pips big.
Alrightie then.
My signature is: "Classified".
  • #1,825
  • Jan 16, 2015 8:31am Jan 16, 2015 8:31am
I've thought about something interesting. Shouldn't market makers be the ones laughing their way to the bank instead of going bust at this time? Because market makers, well...make their own backyard market. So if their customers get margin called, shouldn't the other end of the market (the market maker) profit instead? So how is it that fxcm, alpari, and etc are facing deep trouble now? I'm assuming they're market makers unless I'm wrong.
Detach yourself from the value of money - Mr. Pip
  • #1,826
  • Jan 16, 2015 8:34am Jan 16, 2015 8:34am
Quoting Supreme1394
I've thought about something interesting. Shouldn't market makers be the ones laughing their way to the bank instead of going bust at this time? Because market makers, well...make their own backyard market. So if their customers get margin called, shouldn't the other end of the market (the market maker) profit instead? So how is it that fxcm, alpari, and etc are facing deep trouble now? I'm assuming they're market makers unless I'm wrong.
FXCM/Alpari obviously WERE hedging client orders - oanda etc not so much I expect. I posted my thoughts on this topic over here...

http://www.forexfactory.com/showthread.php?t=521989

BBCMicro
  • #1,827
  • Jan 16, 2015 8:36am Jan 16, 2015 8:36am
Quoting Supreme1394
I've thought about something interesting. Shouldn't market makers be the ones laughing their way to the bank instead of going bust at this time? Because market makers, well...make their own backyard market. So if their customers get margin called, shouldn't the other end of the market (the market maker) profit instead? So how is it that fxcm, alpari, and etc are facing deep trouble now? I'm assuming they're market makers unless I'm wrong.
Atleast my account was an alpari PRo account and thats not an market maker account
  • #1,828
  • Jan 16, 2015 8:40am Jan 16, 2015 8:40am
Quoting NWGstudent
{quote} Atleast my account was an alpari PRo account and thats not an market maker account

You want a market maker account when this happens, those are the ones that are safe, it is the ECN accounts that are killed.
A contrarian; I always disagree.
  • #1,829
  • Jan 16, 2015 8:42am Jan 16, 2015 8:42am
Quoting BBCMicro
{quote} FXCM/Alpari obviously WERE hedging client orders - oanda etc not so much I expect. I posted my thoughts on this topic over here... http://www.forexfactory.com/showthread.php?t=521989 BBCMicro
So Alpari was a real ECN and not a market maker? Or was it that their "Pro" accounts (the true ECN ones) got too much losses so that any winnings from their market making (the normal accounts) got overwhelmed, ending them with a huge net loss?
Detach yourself from the value of money - Mr. Pip
  • #1,830
  • Jan 16, 2015 8:45am Jan 16, 2015 8:45am
From my knowledge, alpari is a ECN STP broker. Market makers would have survived this shit without any issues coz they would have made tons with taking the opposite direction of the clients orders.

I regretted funding my alpari account. Now i know a market maker broker is actually more robust than a ECN STP broker.

What the HACK! sigh!!!!
  • #1,831
  • Jan 16, 2015 8:46am Jan 16, 2015 8:46am
Quoting goldfinch
{quote} Correct, however that is where the FCA steps in upto 50k
given the lack of funds - does it appear that the FCA is our only way fwd ?

or is there a chance the Insolvency Practitioner's recovery process could yield sufficient funds to cover Client recompense (for positive accounts) - which I imagine is the more preferable way forward for all?
  • #1,832
  • Jan 16, 2015 8:48am Jan 16, 2015 8:48am
Quoting goldfinch
{quote} You want a market maker account when this happens, those are the ones that are safe, it is the ECN accounts that are killed.
Well ask yourself if you made a market, would you make it to your or your client advantage? ofcourse market makers are taking advantage of it, as they make money when you loose, and they loose money when you win.

our account fund are protected i hope.
  • #1,833
  • Jan 16, 2015 8:53am Jan 16, 2015 8:53am
Quoting goldfinch
{quote} No because your bid wouldn't get filled.
Sure you could have bought EurChf in front of the floor, and did thousands of funds worldwide. But it didn't hold, did it? And your stop/loss would have zero'd your account because that it all any electronic FX broker can book -- ALL your equity. You aren't a client who can in practice go debit. The broker either books your entire loss, or in the aggregate took a much deeper loss - depending on how closely they follow the rules.

Alpari immediately declared themselves insolvent, and everyone should expect pennies on the dollar after the lawyers are done.
You see, Theories are like a-holes, everybody has one and they are all mostly full of cr*p.
  • #1,834
  • Jan 16, 2015 8:56am Jan 16, 2015 8:56am
I have funded my account with mastercard via my bank and if im getting no response from emails and calls, i will provide all details to my bank to initiate a chargeback. As for those who did a deposit via telegraphic transfer, waiting is the only option to pray the money will be returned to you.
  • #1,835
  • Jan 16, 2015 8:56am Jan 16, 2015 8:56am
Quoting TheMaxx
{quote} This just means that client funds are segregated from Alpari funds. As all client funds are in one pool, if there are client accounts with huge losses they will be shared among all other clients. Ie - you're fukced.
Alpari is just another small player in terms of interbank market, big guys providing liquidity to alpari do not treat orders passed on from alpari as a combination of individual retail traders orders they treat them just as orders from alpari and alpari ALONE(pro traders and institute traders proxy throu alpari is another story but it's not wot concerns us anyway) ie they deal with alpari not alpari's retail traders they hold alpari responsible for losses, the contract is between alpari and big guys not big guys proxy through alpari with retail traders, that being said the contracts between alpari and its each individual retail traders r totally irrelevant to big guys, they can go after alpari for losses but have absolutely no right to go anywhere near retail traders or lay a finger on their funds, and each contractual relationship between alpari and its retail traders is unique individual and separated. alpari has to absorb losses from individual retail traders whose accounts went busted n leave massive amount of red figures i.e. alpari has to pay for these red figures to the big guys with its own capital coz those retail traders who unfortunately engaged trading on the wrong side of the move paid their share i.e. Lost all equity in their account . thats why alpari went under, like just said they can't use other clients capital to cover this mess coz the contracts between the broker and each every of its retail clients r NOT related, they r separated, otherwise alpari would have survived, so whether the deposits r in a same bank account or not, they r not allowed to use other traders' money. it's not like pools
connected with pipes one goes down another follows, retail traders risk equity in their accounts to trade and the maxi loss is the equity available in their accounts doesnt matter loss exceeds equity by 1 dollar or a million, anything beyond the amount of equity balance is the broker's problem and brokers don't get to pass it on to some other traders just becoz their deposits r in the same pool
  • #1,836
  • Jan 16, 2015 8:59am Jan 16, 2015 8:59am
They closed my AUDUSD trade without even informing me that they are closing trades. WHAT THE HACK!!! what has the f*** AUDUSD has to do with CHF? I'm in the middle of the swing trade and they do this s***.
  • #1,837
  • Jan 16, 2015 9:04am Jan 16, 2015 9:04am
Quoting NWGstudent
{quote} Well ask yourself if you made a market, would you make it to your or your client advantage? ofcourse market makers are taking advantage of it, as they make money when you loose, and they loose money when you win. our account fund are protected i hope.
According to the FCA's regulations regarding segregated accounts it should be protected.
Also on Alpari's website they make reference to that by saying that retail clients funds continue to be in segregated accounts.

I chose to belief that no one can use money in segregated accounts other than for those clients who have lost money. Alpari can therefore only withdraw money from segregated accounts in case such clients owe them money. The money cannot be pooled so that positive accounts share losses. The FCA will not allow that. What would the benefit of segregated accounts be if clients share in losses? It is not structured like that.

Only my opinion.
I trust that the FCA knows their way around these things and will act accordingly.
Alpari have build their business around the segregated accounts and regulation by the FCA.
Those of us who have positive balances should be ok. By this I mean positive balances acquired by trading other currencies but the CHF. I think that even those who have made money on the chf pairs during these spikes will not be paid their profits.
Again just my opinion.
Never Ever Give Up!
  • #1,838
  • Jan 16, 2015 9:24am Jan 16, 2015 9:24am
FROM ALPARI'S WEBSITE


Important announcement
Submitted on Fri, 16/01/2015 - 12:00;
The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional volatility and extreme lack of liquidity. 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. 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.


The last sentence says it all..........
Never Ever Give Up!
  • #1,839
  • Jan 16, 2015 9:34am Jan 16, 2015 9:34am
no new massage? waiting
  • #1,840
  • Jan 16, 2015 9:54am Jan 16, 2015 9:54am
i hope we get good news.. please always update
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