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  • #2,101
  • Jan 19, 2015 8:57am Jan 19, 2015 8:57am
they said the meeting is still up to the minute and we might here a new good announcement .. and that i shouldnt be worry my money is safe and i will get them within 1 week in the worst conditions .. whew i can sleep with a clear mind
  • #2,102
  • Jan 19, 2015 9:08am Jan 19, 2015 9:08am
Quoting Mroue26
they said the meeting is still up to the minute and we might here a new good announcement .. and that i shouldnt be worry my money is safe and i will get them within 1 week in the worst conditions .. whew i can sleep with a clear mind
MIGHT? means still no deal.. its taking too long. fxcm was quick.
  • #2,103
  • Jan 19, 2015 9:10am Jan 19, 2015 9:10am
Quoting Mroue26
they said the meeting is still up to the minute and we might here a new good announcement .. and that i shouldnt be worry my money is safe and i will get them within 1 week in the worst conditions .. whew i can sleep with a clear mind
anyway at least you have access to alpari members, you are lucky. most of us are unable to get in touch with alpari people and we have to relay on rumors.
  • #2,104
  • Jan 19, 2015 9:12am Jan 19, 2015 9:12am
i called twice actually.. and i did not hear the same words from the 2 of them.. here is the number.. call them
+97144579862
call and please share your info..
thank you all
  • #2,105
  • Jan 19, 2015 9:18am Jan 19, 2015 9:18am
Quoting Mroue26
i called twice actually.. and i did not hear the same words from the 2 of them.. here is the number.. call them +97144579862 call and please share your info.. thank you all
What answer you are expecting from the Alpari Dubai backoffice people? You think they are in contact with the board of Directors of Alpari UK in London?!? And by the way Alpari Dubai is a different division. How they should know detailed about what is going on in London? Then you could also call Alpari Russia for an answer...same effect.
  • #2,106
  • Jan 19, 2015 9:32am Jan 19, 2015 9:32am
Here is the personal website of the majority owner of Alpari UK Andrey Dashin http://www.dashin.ru/en/
  • #2,107
  • Jan 19, 2015 9:43am Jan 19, 2015 9:43am
Quoting moneymob
Here is the personal website of the majority owner of Alpari UK Andrey Dashin http://www.dashin.ru/en/
Nice find, he is also the owner of forextime.com ??? maybe we can found some answers there....
  • #2,108
  • Jan 19, 2015 9:58am Jan 19, 2015 9:58am
Quoting Jack.e
{quote} I don't know much about standard procedure, but being standard does not necessarily means the better,I would understand if its a standalone company, but despite different legal entity status of other alpari companies accross the world,they r still under the name of Alpari,the remedy would at least paint less on the brand and now should alpari uk rise again the stain stays on forever. A bit off the topic but don't get me wrong I liked alpari before this, now I'mdefinitely not gonna use it even if it survives this and it's not becoz of the...
you should reconsider if they pull thru...
You lost a few days trading, but if they pull thru, you will have your money safe and sound.
instead of being locked in a creditors battle for years.
as for the closed trades... most brokers stopped and closed trades at some point during the two days of trading after the swiss franc cap removal.

pick your next broker carefully, not many compare to what Alpari has and offers
  • #2,109
  • Jan 19, 2015 10:00am Jan 19, 2015 10:00am
Mon, Jan 19 2015, 15:51 GMT | FXStreet
Alpari appoints administrators
FXStreet (London) - Richard Heis, Samantha Bewick and Mark Firmin of KPMG LLP were today appointed special administrators to Alpari (UK) Ltd.
Alpari (UK) Ltd applied for insolvency on today following the decision on Thursday by the Swiss National Bank cease to defend the CHF1.200 level against the euro. In a statement issued on Friday, Alpari said that the move “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.”
After a weekend spent in urgent discussions with various parties with a view to selling the company, these efforts were ultimately unsuccessful.
Commenting on the appointment, Richard Heis, partner at KPMG and joint special administrator, said: "Following the announcement by the SNB last week, Alpari (UK) Ltd sustained substantial losses as a result of negative client balances, and was faced with no other choice but to enter into special administration. We have had a number of enquiries from interested parties in relation to the company's business. We will be speaking with these parties and others over the next few days, and hope to secure a deal to preserve the business and jobs as far as possible."
He continued: "The company holds some USD98.5 million of retail client money which has been segregated and we shall be returning this to clients or making other suitable arrangements in accordance with statute and the regulatory framework at the earliest opportunity."
http://www.fxstreet.com/news/forex-n...c-ae3f34981bbb
  • #2,110
  • Jan 19, 2015 10:01am Jan 19, 2015 10:01am
look at this chat from forextime.com support:

Live Support: Thank you for contacting our live support. One of our support team representatives will be with you shortly
Stephan: Hello, how may I assist you?
Me: I am an ex alpari client, looking for a new broker
Me: And I have been told that the owner of alpari its the same as the owner of forextime
Me: is this true?
Stephan: We have the same Shareholder , however the companies are two different entities .
Me: so, the same shareholder will let Alpari on insolvency but not forextime?
Stephan: As I informed you the companies are two different entities .
Stephan: Forextime is not affected as a solid risk management policy has always been in place to safeguard the Company and its clients against situations like this.
Me: but you have the same owner as Alpari, and Alpari is insolvent
.....no answer.....
  • #2,111
  • Jan 19, 2015 10:02am Jan 19, 2015 10:02am
Quoting oneg
look at this chat from forextime.com support: Live Support: Thank you for contacting our live support. One of our support team representatives will be with you shortly Stephan: Hello, how may I assist you? Me: I am an ex alpari client, looking for a new broker Me: And I have been told that the owner of alpari its the same as the owner of forextime Me: is this true? Stephan: We have the same Shareholder , however the companies are two different entities . Me: so, the same shareholder will let Alpari on insolvency but not forextime? Stephan: As I...

Irrelevant, in the eyes of the law they are seperate entities, all Alpari (insert Caribean island of choice) are still up and running.
A contrarian; I always disagree.
  • #2,112
  • Jan 19, 2015 10:07am Jan 19, 2015 10:07am
fuck!! and thats because now we have to wait....

why had to be one of the four...like KPMG?
  • #2,113
  • Jan 19, 2015 10:15am Jan 19, 2015 10:15am
Quoting moneymob
Here is the personal website of the majority owner of Alpari UK Andrey Dashin http://www.dashin.ru/en/
Wow nice missus!

I'm sitting here with £25k in my Alpari account and have been monitoring the forum as not posted in a long while. I personally was on the right side of the CHF move and pocketed £1300 from it. Hopefully they will be honoring that trade and my open traders were only about £60 in the hole when they closed them so one of the lucky ones by the sounds of it on here.

I've just setup an account with FXCM as looking to move when this is all over. Loved Alpari for the last 5 years and never had a bad word but the way they have treated us with total silence has really got my goat. Just cutting off all communication with your customers and then not updating them for days is just not good business.
FXCM handled this whole situation professionally and swiftly and I'll be taking my money to them.
Study enough and it all starts looking like the Matrix...
  • #2,114
  • Jan 19, 2015 10:16am Jan 19, 2015 10:16am
some one please explain current development.. what will happen now? will we get our money? how long will take? will it be smooth process ?
  • #2,115
  • Jan 19, 2015 10:19am Jan 19, 2015 10:19am
Quoting panhwar
some one please explain current development.. what will happen now? will we get our money? how long will take? will it be smooth process ?
we are likely going to be contacted by the administrators sooner or later...all of us which will explain in detail all the steps...either you are in positive or negative....


although their first job is to "retry" to sell their business "as a whole" before doing anything else...if they see interest that might take a few days, if not we are going to be contacted right away as "our case" is clear for them and by finishing it they can start selling the company piece by piece
  • #2,116
  • Jan 19, 2015 10:40am Jan 19, 2015 10:40am
I have just phoned the administrators and told them of my situation ie. I have funds tied up in Alpari UK. I was put through to someone who could help but got voicemail so left a message asking for a telephone call explaining the exact procedure that will now commence.
If I get no response I will keep calling until I do.
Alpari UK is now in the hands of the administrators so forget contacting Alpari UK, its the administrators who now run the company.
On a slightly brighter note Alpari UK going into administration will make it a cheaper sale for any potential buyer so a deal may yet be struck.
However I think its good to let the administrators know that those of us with positive equity want our funds a.s.a.p if they are indeed available.
  • #2,117
  • Jan 19, 2015 10:44am Jan 19, 2015 10:44am
The big question now is : How long will the FCA/KPMG allow for potential buyers to make their offers.

There should be a cut off time because:

 

  1. The longer they take , the more existing clients will withdraw their funds after someone has bought it. ( Lack of interest to continue trading with the company)
  2. The longer they take selling it the less valuable it becomes due to point number 1.

Never Ever Give Up!
  • #2,118
  • Jan 19, 2015 10:47am Jan 19, 2015 10:47am
Quoting grin
{quote} That might have been the reason for no sale. It is likely they run the whole group of the same infrastructure which would not be likely for sale just because one member of the group failed. The infrastructure service might be just one of the members. What would be for sale then? Customer list and possibly some debt to their liquidity providers? At the same time, this is roughly the same what FXCM has been buying during the last couple years from those exiting the US market.

as have mentioned in the past the process in brief...in such a case the clientèle is what can be sold and has a high worth, they might sell trademarks etc


i didnt mention the debts back then in order not to cause inconvenience to members reading us but thats an issue right now. the administrators are "faceless" they dont care about the brand but how much more they are going to earn for alpari as they are going to charge alpari in turn for their services (thats why i moaned above why it had to be one of those "big 4" )

so debts to the company is the first thing which is going take attention afterwards.... people in negative balances might have issues.

i dont know if the management of the company made special arrangements for those clients.

i just hope the company is sold of as "one whole piece" as quick as possible and thus be better quicker.... i am still hopping because its not unlikely companies to have run to check the books of the company see that everything is ok...wait to go to administration and get for a fraction of what they were going to pay beforehand
  • #2,119
  • Jan 19, 2015 10:49am Jan 19, 2015 10:49am
Quoting jizzyjay
I have just phoned the administrators and told them of my situation ie. I have funds tied up in Alpari UK. I was put through to someone who could help but got voicemail so left a message asking for a telephone call explaining the exact procedure that will now commence. If I get no response I will keep calling until I do. Alpari UK is now in the hands of the administrators so forget contacting Alpari UK, its the administrators who now run the company. On a slightly brighter note Alpari UK going into administration will make it a cheaper sale for...
Great, let us know when they get back to you.

Who are the administrators? Sorry, Got it - @Richard Heis, Samantha Bewick and Mark Firmin of KPMG LLP were today appointed special administrators to Alpari (UK) Ltd.@
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #2,120
  • Jan 19, 2015 10:51am Jan 19, 2015 10:51am
Quoting Cobra
The big question now is : How long will the FCA/KPMG allow for potential buyers to make their offers. There should be a cut off time because: The longer they take , the more existing clients will withdraw their funds after someone has bought it. ( Lack of interest to continue trading with the company) The longer they take selling it the less valuable it becomes due to point number 1.
in theory it can go for centuries as the company has closed and has no activities ....so i doubt the administrators are going to work while keeping the company open (too much risk for them) ...so probably they are just going to keep the people from the staff just needed for the final operations and move on...

i suspect FCA will not intervene to this point until a deal is made or just before a deal is made....but i am sure KPMG will keep them "close" for advice whenever needed...
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