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Alpari.co.uk Discussion

  • #1,961
  • Jan 17, 2015 12:33pm Jan 17, 2015 12:33pm
Guys I'm really worried. As because Alpari couldn't Close my open positions, neither stoploss nor margin call was executed leading to a gigantic minus on the Balance. Any clue what will happen? Will they try to get that Money from me? And do they have the right to do so?
  • #1,962
  • Jan 17, 2015 1:45pm Jan 17, 2015 1:45pm
hi ,everone surley its about time we as traders and the brokers had in place a guaranteed stop,to prevent this situation from re occurring. it serves no good purpose to allow a trader to place a trade with expectations of winning , but does not accept the the risks to their funds. although on this occasion nothing has been seen quite as explosive for a long time , in realality when you open an account with a broker the risks are made clear . the bottom line is you are exposed to a gap which you could find yourself in real hardship. for the brokers this is no good, as they may have no liquidity in their funds , so may not carry on trading because they hedge there bets , but may have problems trying to recover their loses , as well as paying out on the instant gains for traders who won their trades. in realality the snb gave no insight to their intentions ,and this could happen again, on another currency. in summery we all want to trade but we must I believe have a fixed stop , which means that's it I am out , and I know my liabilities
  • #1,963
  • Jan 17, 2015 1:53pm Jan 17, 2015 1:53pm
Quoting peacourt
hi ,everone surley its about time we as traders and the brokers had in place a guaranteed stop,to prevent this situation from re occurring. it serves no good purpose to allow a trader to place a trade with expectations of winning , but does not accept the the risks to their funds. although on this occasion nothing has been seen quite as explosive for a long time , in realality when you open an account with a broker the risks are made clear . the bottom line is you are exposed to a gap which you could find yourself in real hardship. for the brokers...
and what about those who were not in chf trades, and had their trades closed on other pairs , in loss. mistake of trader and mistake of broker are 2 different things. this time its alpari mstake, those traders who were not in chf got burnt for no reason. if alpari comes online on monday then what was point in closing clients floating trades?
  • #1,964
  • Jan 17, 2015 2:04pm Jan 17, 2015 2:04pm
Quoting panhwar
{quote} and what about those who were not in chf trades, and had their trades closed on other pairs , in loss. mistake of trader and mistake of broker are 2 different things. this time its alpari mstake, those traders who were not in chf got burnt for no reason. if alpari comes online on monday then what was point in closing clients floating trades?

Thats right. All my trades (5) was closed in minus and I checked later that day.. If they haven't close them, They would have hitted the set target (TP).
  • #1,965
  • Jan 17, 2015 2:13pm Jan 17, 2015 2:13pm
Quoting peacourt
hi ,everone surley its about time we as traders and the brokers had in place a guaranteed stop,to prevent this situation from re occurring. it serves no good purpose to allow a trader to place a trade with expectations of winning , but does not accept the the risks to their funds. although on this occasion nothing has been seen quite as explosive for a long time , in realality when you open an account with a broker the risks are made clear . the bottom line is you are exposed to a gap which you could find yourself in real hardship. for the brokers...
IG.com, you can have guaranteed stop there. At least you could while using their web platform, no idea about now.
  • #1,966
  • Edited 2:30pm Jan 17, 2015 2:18pm | Edited 2:30pm
Quoting dambuster
{quote} I 'had' a 140k account, 75k of which was in DD when Alpari closed it without warning. I am now left with a balance of 65k Scenario 1: FSCS says Alpari can't pay out on the 65k so here's compensation of 50k. I am pissed Scenario 2: I get my 65k remaining balance back as it's segregated. I lick my wounds Scenario 3: I get my 65k remaining balance back as it's segregated and claim on the FSCS for my unwarranted 'loss' of 75k and they pay out the max of 50k. I am quite happy but also under no allusion that this will actually happen...
Well the scenario if there was any justice in this world, you would get back half of what you had in drawdown. I mean there is at least a 50/50 chance, given no specific data that the trade would end up in profit, maybe even 75K of profit?
My signature is: "Classified".
  • #1,967
  • Jan 17, 2015 2:21pm Jan 17, 2015 2:21pm
Quoting Icannaesee
Just to let you know the Alpari website has changed and the following is now showing: http://www.alpari.com/company-news/p...-announcement/ {quote} {quote}
Well thats almost the first sign of life we have got out of them. So they are still alive!
My signature is: "Classified".
  • #1,968
  • Jan 17, 2015 2:22pm Jan 17, 2015 2:22pm
I really think they will get financing from someone. But if they open on Monday or later in the week, what happens to all of us who lost a lot of money due to them forcing us to close trades?

The way they handled this is a complete mess…they should have looked into all scenarios before just shutting down everything! I think there should be some accountability on their part. Because they will lose all their clients if they reopen because we have all been burned.
  • #1,969
  • Jan 17, 2015 2:23pm Jan 17, 2015 2:23pm
Quoting KGP
{quote} ...will you keep trading with/through them?
I think i will withdraw a chunk, keep trading and try to find another broker. So kind of a mix solution for me.
For that i would want to be looking at a broker hwo has been around for a long time. Preferably since the 90´s or even before.
My signature is: "Classified".
  • #1,970
  • Jan 17, 2015 2:33pm Jan 17, 2015 2:33pm
Quoting capricorn34
I really think they will get financing from someone. But if they open on Monday or later in the week, what happens to all of us who lost a lot of money due to them forcing us to close trades? The way they handled this is a complete mess…they should have looked into all scenarios before just shutting down everything! I think there should be some accountability on their part. Because they will lose all their clients if they reopen because we have all been burned.
Well depending on how they handle this will probably have some impact on how their other customers feel about continuing having them as a broker, the Russian and the Chinese and what other bits they have. At least thats what i would be thinking if i worked at Alpari.
My signature is: "Classified".
  • #1,971
  • Jan 17, 2015 3:47pm Jan 17, 2015 3:47pm
Wellll..... I wasnt expecting an update within few weeks.. That looks promising
  • #1,972
  • Jan 17, 2015 4:30pm Jan 17, 2015 4:30pm
This is a very good lesson why to avoid these 1:300, 1:500 or even 1:1000 margin brokers.
  • #1,973
  • Jan 18, 2015 12:35am Jan 18, 2015 12:35am
Alpari is a solid business and I will continue trading with them if they are rescued in any way.

They have not given anybody here reason to not trust them did they?
What happened to them also happened to FXCM isn't it?

Traders are just scared about what happened and fear that it can happen again. Alpari and other ECN brokers will NEVER let this happen agqain with them. You can count on that. They will find ways and means to limit the damage in case of such an event.
Regulation will also follow shortly to stop this from happening. You can count on that!
I think traders should think twice of withdrawing their money and run.
Rest assure that Alpari DOES not want to go under. It is a successful business and they will do anything to keep it afloat.
They have not yet abandoned ship and us clients should appreciate that.
Let's stay positive. This is not a good time to spread negativity.
Never Ever Give Up!
  • #1,974
  • Jan 18, 2015 12:46am Jan 18, 2015 12:46am
Quoting Cobra
Alpari is a solid business and I will continue trading with them if they are rescued in any way. They have not given anybody here reason to not trust them did they? What happened to them also happened to FXCM isn't it? Traders are just scared about what happened and fear that it can happen again. Alpari and other ECN brokers will NEVER let this happen agqain with them. You can count on that. They will find ways and means to limit the damage in case of such an event. Regulation will also follow shortly to stop this from happening. You can count on...
lol are you serious? they have gone into insolvency, its over.
  • #1,975
  • Jan 18, 2015 12:49am Jan 18, 2015 12:49am
Any clue about negative balance accounts? What will happen to them in the different Szenarios (insolvency, bailout,...)?
  • #1,976
  • Jan 18, 2015 12:52am Jan 18, 2015 12:52am
Quoting TerryTibbs
{quote} lol are you serious? they have gone into insolvency, its over.
When did they?

When last did you checked out their website and other articles on FF?

Did you just wake up now???

LOL
Never Ever Give Up!
  • #1,977
  • Jan 18, 2015 12:59am Jan 18, 2015 12:59am
Quoting Cobra
{quote} When did they? When last did you checked out their website and other articles on FF? Did you just wake up now??? LOL
lol well actaully yes i did just wake up! xD

and yes first time seeing the updated website but the previous message was that they have applied for insolvency. So not sure what is happening now but i wouldnt get my hopes up. Alpari looked like a big player in the broker game but seems they were really just a small fish if other brokers like FXCM can still continue business even after taking massive losses.

If my account ever does go back up, im taking my money out anyway.
  • #1,978
  • Jan 18, 2015 1:30am Jan 18, 2015 1:30am
Quoting TerryTibbs
{quote} first time seeing the updated website but the previous message was that they have applied for insolvency.
I think there is a difference between insolvency and "bankruptcy" in term of liquidation. Insolvency as such is not yet a terminal state.
Right now they are in the phase of finding a way out of insolvency. If that does not work, they will be liquidated.
  • #1,979
  • Jan 18, 2015 1:48am Jan 18, 2015 1:48am
Quoting dambuster
@ Jack.e, good point but there is also a 4th group: Those, who like me, who had non chf trades open and which ended up in a loss the moment Alpari closed them without any warning...
Alpari closed my active trades too, leaving me with a loss rather than hitting TP. Fortunately I thought I had set the TP wrong, so I opened new orders and managed to close them when they had covered the loss and then some. Took 3 attempts to close them though.

Anyway, Alpari could be in their right to do this.

Quoting clientAgreement
29 Force Majeure
(...)
29.1.2 the suspension, liquidation, or closure, excessive movement, volatility or loss of liquidity in of any relevant market or underlying Instrument, or the imposition of limits or special or unusual terms on the trading in any such market, underlying Instrument or on any such event
(...)
29.2 If the Company determines in its reasonable opinion that a Force Majeure Event has occurred or is
continuing to occur (without prejudice to any other rights under the Operative Agreements) the
Company may without prior Written Notice and at any time take any of the following steps:
29.2.1 increase margin requirements;
29.2.2 close out any or all Open Positions at such prices as the Company considers in good faith to be
appropriate
http://webcache.googleusercontent.co...=clnk&gl=no#21

This morning Alpari sendt me the VPS invoice, event though my volume this month is over 20. 1 min later a mail arrived saying they failed to draw money from my card...??
  • #1,980
  • Jan 18, 2015 1:53am Jan 18, 2015 1:53am
i expect we will receive an email from them on Monday...
lets keep high hopes.. maybe they are finding a way without asking for liquidity from anyone.. Alpari is a large group of companies.
after taking the best decision in the best trade in my entire life! just 35 SECONDS before 11:30 .. there's must be hope
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