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Alpari.co.uk Discussion

  • #2,161
  • Jan 19, 2015 1:15pm Jan 19, 2015 1:15pm
Quoting Mroue26
if its the only way to get our money back... through this > https://www.insolvency-kpmg.co.uk/ca...F119D1101.html then its gonna be a big fucking headache to get all these proofs

i believe they have to make another form catering to this type of business.... and also i have already made a withdraw request before they got their administrators in so they have my claim to process it...


although i believe sooner or later most of us will be "transfered" along with our fund to another company as we are going to be "sold"...we are an asset now...
  • #2,162
  • Jan 19, 2015 1:17pm Jan 19, 2015 1:17pm
Quoting KGP
{quote} i believe they have to make another form catering to this type of business.... and also i have already made a withdraw request before they got their administrators in so they have my claim to process it...
damn i only made a withdrawal request for 2000$ out of 13700 :/
  • #2,163
  • Jan 19, 2015 1:19pm Jan 19, 2015 1:19pm
Quoting Mroue26
{quote} damn i only made a withdrawal request for 2000$ out of 13700 :/
dont be jealous...if i am not "sold"...i will likely end the same pathway lol
  • #2,164
  • Jan 19, 2015 1:22pm Jan 19, 2015 1:22pm
Are you guys "satisfied" if they say, we just able to pay you out 50 % or less ...

If this happens, what a world ...
  • #2,165
  • Jan 19, 2015 1:23pm Jan 19, 2015 1:23pm
Quoting forexTN14
Are you guys "satisfied" if they say, we just able to pay you out 50 % ... If this happens, what a world ...
no.. as i contacted them earlier today they said dont be afraid of anything your money is safe and you will get them all
  • #2,166
  • Jan 19, 2015 1:25pm Jan 19, 2015 1:25pm
Quoting Mroue26
{quote} no.. as i contacted them earlier today they said dont be afraid of anything your money is safe and you will get them all
and you trust this robber word by word ?Maybe iam the only one but I Even think the managers of alpari cause this or want to see it collapse for any reasons.
  • #2,167
  • Edited 1:39pm Jan 19, 2015 1:28pm | Edited 1:39pm
http://www.dailymail.co.uk/sport/art...nsolvency.html

(probably best not to mention Alpari scoring an own goal with their bad risk management skills)
  • #2,168
  • Jan 19, 2015 1:33pm Jan 19, 2015 1:33pm
Quoting KGP
people segregated funds are NOT P/L accounts are bank accounts... with funds placed from each and everyone. i am not going to put it in a correct way but in a very simplified way example if i place 100eur in a segregated account this way when i invest 90eur they will "get" to the market (only those 90eur) and then when i will earn 10eur the 10eur will be added to my account + the capital so i have 110 eur in my account if someone has invested all its capital (lets say ) 100eur and loses 101eur (due to reasons like slippage) this will NOT be taken...
Read this:
ODL Securities UK
http://www.odlsecurities.com/uk/index.html


"Under mifid all regulated brokers in the uk when declaring a client in a retail status have to segregate the clients funds away form the companies own money though your funds will be in a pooled account along with all other clients , not personal

Chris laird"

Pooled fund.Now if they suffered huge losses it implies your funds have decreased by a great amount which
can only be recovered if there is a bailout or they manage to get enough funds from somewhere or else
the only way would be compensation from fscs.
  • #2,169
  • Jan 19, 2015 1:40pm Jan 19, 2015 1:40pm
Also some additional info about segregated a/c from some other member of alpari uk

In fact, there are two steps. Here is what's happening with my broker (Alpari UK):
- Segregated account of up to 5k. And no, it doesn't belong to the broker so this is money you should get back if something goes wrong.
- FSA/FSCS protection. Less talked about but make you realize why you need a FSA regulated broker. This is the kind of protection bank customers get : if the bank disappear, most of your money (unless you are super rich) will be secured.
  • #2,170
  • Jan 19, 2015 1:40pm Jan 19, 2015 1:40pm
Quoting shail31
{quote} Read this: ODL Securities UK http://www.odlsecurities.com/uk/index.html "Under mifid all regulated brokers in the uk when declaring a client in a retail status have to segregate the clients funds away form the companies own money though your funds will be in a pooled account along with all other clients , not personal Chris laird" Pooled fund.Now if they suffered huge losses it implies your funds have decreased by a great amount which can only be recovered if there is a bailout or they manage to get enough funds from somewhere...

its NOT a P/L pool...

i believe my example scenario above was/is easy to understand
  • #2,171
  • Jan 19, 2015 1:44pm Jan 19, 2015 1:44pm
Let's hope Jon Corzine isn't on the KPMG payroll; segregated accounts sound fine when everything is peachy, but when tshtf, monies tend to disappear into the aether.

Quote
The customer money did not ‘Vaporize,’ and it was not lost via a Rule 1.25 investment- it was knowingly transferred to meet margin calls at JP Morgan, and MF Global executives knowingly falsified segregation reports to provide plausible deniability for the illegal transfers, and made them against CME Group’s express instructions to the contrary. link

Quote
Over the course of that week, MF Global’s financial position deteriorated, but the firm represented to its regulators and self-regulatory organizations that its customers’ segregated funds were safe,” said the memo, written by Financial Services Committee staff and sent to lawmakers. link

It will be interesting to see how the UK handles this, the FSA was re-branded to FCA as most were probably in the pockets of the very institutions they were meant to investigate; it's a revolving door of corruption at the highest levels.
Politics is the womb in which war develops.
  • #2,172
  • Jan 19, 2015 1:47pm Jan 19, 2015 1:47pm
Quoting KGP
{quote} its NOT a P/L pool... i believe my example scenario above was/is easy to understand
You have written "so the 95mil accounts are of those in positive. which can "not be touched""

That's not true as there is a pool i.e. 1 a/c. So either the pool is intact i.e. pre Jan 15 fiasco or
the P/L has been added and the pool has greatly decreased which then decreases individual
balances too.
  • #2,173
  • Jan 19, 2015 1:48pm Jan 19, 2015 1:48pm
Quoting Mroue26
if its the only way to get our money back... through this > https://www.insolvency-kpmg.co.uk/ca...F119D1101.html then its gonna be a big fucking headache to get all these proofs
I don't live in the UK, so it will take forever for them to get my form. I filled out a withdrawal request the very first day and now what - is it invalid?

Also I don't understand how FXCM could get a 300M bailout but AlpariUK could not find buyers. If they handled it a little better then maybe they could of. In the process they have screwed all of us…we'll have to wait months before we see our money (let Excel paid out everyone within a week?)

First on Friday they claim "we have entered into insolvency" …then over the weekend they completely reverse that statement say "no we haven't entered into insolvency" now it's Monday and it's even worse for us. There is no way they're finding a buyer now, because do you really think the buyer wants to deal with angry, frustrated clients, and half of the clients would leave anyways.

This company is the worst. Please can everybody email KPMG and state how it's unfair to us how we have to wait so long. Some people have 100k + tied up in their accounts now! Not to mention we're losing trading time.
  • #2,174
  • Jan 19, 2015 1:48pm Jan 19, 2015 1:48pm
Quoting shail31
{quote} it implies your funds have decreased by a great amount which can only be recovered if there is a bailout or they manage to get enough funds from somewhere or else the only way would be compensation from fscs.
so alpari is nearly 60 million in black (if you take out all the loses nearly 45+million and out of the segregated accounts )... and thus they didnt have any problem... (thats what was going to happen in case they could do what you say)
  • #2,175
  • Jan 19, 2015 1:50pm Jan 19, 2015 1:50pm
Quoting capricorn34
{quote} I don't live in the UK, so it will take forever for them to get my form. I filled out a withdrawal request the very first day and now what - is it invalid? Also I don't understand how FXCM could get a 300M bailout but AlpariUK could not find buyers. If they handled it a little better then maybe they could of. In the process they have screwed all of us…we'll have to wait months before we see our money (let Excel paid out everyone within a week?) This company is the worst. Please can everybody email KPMG and state how it's unfair to us how...

in case its a snail mail issue ask them if you can sent them via fax all the document that you are going to post to speed the process...

although i dont believe its going to make any difference.
  • #2,176
  • Jan 19, 2015 1:55pm Jan 19, 2015 1:55pm
Quoting shail31
{quote} You have written "so the 95mil accounts are of those in positive. which can "not be touched"" That's not true as there is a pool i.e. 1 a/c. So either the pool is intact i.e. pre Jan 15 fiasco or the P/L has been added and the pool has greatly decreased which then decreases individual balances too.

what you wrote it doesnt make sense...because if at the "pool there are 95 mil left...then why go through this process ???

the loses incurred are from accounts that couldnt be covered from their respective funds and the loses were to that extend that they couldnt "cover" it even temporary or they didnt believe the accounts holder could cover them in due time (even at all) or both

you dont know if "the pool" is one account or 100 accounts or 10000 accounts the issue is that they are under a certain status the fund in it can not be used just because.... there is a process.


can you say whether you are accountwise in positive or negative? (i am in positive)
  • #2,177
  • Jan 19, 2015 2:12pm Jan 19, 2015 2:12pm
Quoting KGP
{quote} what you wrote it doesnt make sense...because if at the "pool there are 95 mil left...then why go through this process ??? the loses incurred are from accounts that couldnt be covered from their respective funds and the loses were to that extend that they couldnt "cover" it even temporary or they didnt believe the accounts holder could cover them in due time (even at all) or both you dont know if "the pool" is one account or 100 accounts or 10000 accounts the issue is that they are under a certain status the fund in it can not be used just...
Firstly ,do you have any clue how much of clients funds alpari originally had? They have 95 mil now,how much was it before 15 Jan?
That's what's important.
About pool please understand a pool means putting into one fund, look up the meaning.If you look at my previous answers
I have quoted this not out of my own imagination as I want to get the facts right.The quote was from a broker where
he said the funds are segregated but pooled together not held in individual a/c's
  • #2,178
  • Jan 19, 2015 2:18pm Jan 19, 2015 2:18pm
u guys are speculating on info which we dont know..driving yourselves mad..
what will happen will happen..try and wait for something to happen otherwise u will drive yourself nuts

even i am starting to get worried now..lol
  • #2,179
  • Jan 19, 2015 2:24pm Jan 19, 2015 2:24pm
Quoting shail31
{quote} Firstly ,do you have any clue how much of clients funds alpari originally had? They have 95 mil now,how much was it before 15 Jan? That's what's important. About pool please understand a pool means putting into one fund, look up the meaning.If you look at my previous answers I have quoted this not out of my own imagination as I want to get the facts right.The quote was from a broker where he said the funds are segregated but pooled together not held in individual a/c's
The plain truth is that they've been dipping their hands into clients funds from the onset. forget the ''segregated account'' phrase. These crooks know how to dance around those fine prints.
  • #2,180
  • Jan 19, 2015 2:27pm Jan 19, 2015 2:27pm
Quoting nAVIN2007
u guys are speculating on info which we dont know..driving yourselves mad.. what will happen will happen..try and wait for something to happen otherwise u will drive yourself nuts even i am starting to get worried now..lol
have you emailed them kpmg people? what amount will you claim? remaining amount after trades closed by alpari,, or previous balance when floating trades were there...i have written remaining balance which is left after alpari closed my floating trades.
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