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Alpari.co.uk Discussion

  • #2,321
  • Jan 20, 2015 9:24am Jan 20, 2015 9:24am
KGP I am on your side and state of mind.
In UK things are a bit different, but is so that things are done right way.
They shut everything down, make sure what is what, make decisions and then open back up, to realize decisions made.
  • #2,322
  • Jan 20, 2015 9:27am Jan 20, 2015 9:27am
Just received this

Dear Sir/Madam
Alpari (UK) Limited (in special administration) (the "Company")
Thank you for your email.
We confirm that Richard Heis, Samantha Bewick and Mark Firmin were appointed as Joint Special Administrators to the Company (the "Joint Special Administrators") on Monday, 19 January 2015.
The Joint Special Administrators are currently receiving extremely high volumes of queries from creditors and clients. The Joint Special Administrators will endeavour to answer your queries as soon as possible, however due to the volume and similarity of queries being received, this will be performed through updates on their website.
www.kpmg.com/uk/alpari
The website will continue to be updated as further information becomes available.
The Joint Special Administrators are working closely with the Company staff to confirm all client positions. The Company is unable to action requests for withdrawals at present (including requests made prior to the appointment of the Joint Special Administrators but remaining outstanding) from any client accounts, as these accounts are now subject to the special administration process.
In relation to client monies held by the Company, the Joint Special Administrators are working to reconcile holdings and accounts in order to enable client monies to be released as soon as practicable, which is one of the Joint Special Administrators' formal objectives under the Investment Bank Special Administration Regulations 2011. Clients will receive formal correspondence shortly setting out the process for making a claim in order to receive a distribution for amounts owed. As part of the process of agreeing client money entitlements we shall shortly notify a “last date for proving”, although would seek to make interim payments to holders of agreed claims before this date insofar as this is possible.
To the extent that it is not possible to reclaim money, it may be possible to make a claim under the Financial Services Compensation Scheme (‘FSCS’). FSCS is a compensation fund of last resort for customers of authorised financial services firms who become insolvent (such as the Company). For eligible investment claims where the consumer suffers a loss, FSCS can pay up to £50,000 in compensation per person, per authorised firm. If claims are paid by FSCS, it will then assume those client positions against the Company. The Joint Special Administrators are working with the FSCS to agree a process that will enable clients to establish a claim for loss. FSCS will publish an update on its website detailing the process for settling potential claims in due course.
The Joint Special Administrators' proposals, providing an update on the progress of the Special Administration and the strategy going forward, will be sent to creditors and clients of the Company within the next 8 weeks.

Please monitor the Joint Special Administrators’ website for further updates which will be provided as information becomes available.

Kind regards,

The Joint Special Administrators
For and on behalf of the Company

Mark Granville Firmin, Richard Heis and Samantha Rae Bewick were appointed as joint special administrators of Alpari (UK) Limited on 19 January 2015.

The affairs, business and property of Alpari (UK) Limited are being managed by the joint special administrators who contract as agents of Alpari (UK) Limited without personal liability.

Mark Granville Firmin, Richard Heis and Samantha Rae Bewick are authorised to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.

Alpari (UK) Limited is authorised and regulated by the Financial Conduct Authority. FCA reference number 448002. Registered in England No. 05284142. Registered Office: 5th floor, 201 Bishopsgate, London, EC2M 3AB.
  • #2,323
  • Jan 20, 2015 9:29am Jan 20, 2015 9:29am
Quoting panhwar
{quote} jusf forwardedthis email... please all traders send this email to kpmg.. and may be fca too... and devid cameron.
I send this email to C. Ronaldo
  • #2,324
  • Jan 20, 2015 9:30am Jan 20, 2015 9:30am
Quoting wantsomepips
KGP I am on your side and state of mind. In UK things are a bit different, but is so that things are done right way. They shut everything down, make sure what is what, make decisions and then open back up, to realize decisions made.

i've been to UK... i lived there (the times when my english used to be perfect...memories...)

i know everything is in place out of experience what happens in such cases although never had any experience as such in this market (which as at first had said is quite different from other markets)

so relax...and let the administrators be on the phone negotiating with CEO/"bosses" as its the case right now....
  • #2,325
  • Jan 20, 2015 9:39am Jan 20, 2015 9:39am
D) The costs and expenses of dealing with and distributing client assets (which
include client monies) are paid out of client assets. Other costs and expenses are paid
out of the firm’s assets.

LOL.
you gotta be kidding me!
  • #2,326
  • Jan 20, 2015 9:42am Jan 20, 2015 9:42am
Quoting saticdoor86
D) The costs and expenses of dealing with and distributing client assets (which include client monies) are paid out of client assets. Other costs and expenses are paid out of the firm’s assets. LOL. you gotta be kidding me!

no its standard thats why the best option is a sell right now... and we should leave the administrators alone right now to make this happen!
  • #2,327
  • Jan 20, 2015 9:55am Jan 20, 2015 9:55am
Tel +44 (0) 333 202 1397 on this telephone number KPMG is answering the phone and listening your concern.
  • #2,328
  • Jan 20, 2015 9:58am Jan 20, 2015 9:58am
Quoting KGP
{quote} no its standard thats why the best option is a sell right now... and we should leave the administrators alone right now to make this happen!
yea it is, and it sucks.

Hopefully they get a buyer or it isnt too high a fee!
  • #2,329
  • Jan 20, 2015 9:59am Jan 20, 2015 9:59am
Quoting saticdoor86
D) The costs and expenses of dealing with and distributing client assets (which include client monies) are paid out of client assets. Other costs and expenses are paid out of the firm’s assets. LOL. you gotta be kidding me!

Come on...and even if...1.00 % of the client funds would be around 950.000 Dollar....
  • #2,330
  • Jan 20, 2015 10:09am Jan 20, 2015 10:09am
  •  chisi
  • | Joined Dec 2014 | Status: Consistency leads to mastery | 53 Posts
I think this the worst week of my entire life, hope this ends soon
Experiments All Time Return: -30.4%
  • #2,331
  • Jan 20, 2015 10:12am Jan 20, 2015 10:12am
Quoting Tim_isoara
{quote} Now Switzerland is like China.
This is why you should switch to a Chinese Broker once you get your money back. Let me know how things work out for you over there
  • #2,332
  • Jan 20, 2015 10:15am Jan 20, 2015 10:15am
Attached Image
  • #2,333
  • Jan 20, 2015 10:15am Jan 20, 2015 10:15am
*An e-mail from the Administrators* explains everything.

UK-FM Alpari UK Claims
6:00 PM
https://mail.google.com/mail/u/0/images/cleardot.gif
https://mail.google.com/mail/u/0/images/cleardot.gif
https://mail.google.com/mail/u/0/images/cleardot.gif
to me
https://mail.google.com/mail/u/0/images/cleardot.gif


Dear Sir/Madam
Alpari (UK) Limited (in special administration) (the "Company")
Thank you for your email.
We confirm that Richard Heis, Samantha Bewick and Mark Firmin were appointed as Joint Special Administrators to the Company (the "Joint Special Administrators") on Monday, 19 January 2015.
The Joint Special Administrators are currently receiving extremely high volumes of queries from creditors and clients. The Joint Special Administrators will endeavour to answer your queries as soon as possible, however due to the volume and similarity of queries being received, this will be performed through updates on their website.
www.kpmg.com/uk/alpari
The website will continue to be updated as further information becomes available.
The Joint Special Administrators are working closely with the Company staff to confirm all client positions. The Company is unable to action requests for withdrawals at present (including requests made prior to the appointment of the Joint Special Administrators but remaining outstanding) from any client accounts, as these accounts are now subject to the special administration process.
In relation to client monies held by the Company, the Joint Special Administrators are working to reconcile holdings and accounts in order to enable client monies to be released as soon as practicable, which is one of the Joint Special Administrators' formal objectives under the Investment Bank Special Administration Regulations 2011. Clients will receive formal correspondence shortly setting out the process for making a claim in order to receive a distribution for amounts owed. As part of the process of agreeing client money entitlements we shall shortly notify a “last date for proving”, although would seek to make interim payments to holders of agreed claims before this date insofar as this is possible.
To the extent that it is not possible to reclaim money, it may be possible to make a claim under the Financial Services Compensation Scheme (‘FSCS’). FSCS is a compensation fund of last resort for customers of authorised financial services firms who become insolvent (such as the Company). For eligible investment claims where the consumer suffers a loss, FSCS can pay up to £50,000 in compensation per person, per authorised firm. If claims are paid by FSCS, it will then assume those client positions against the Company. The Joint Special Administrators are working with the FSCS to agree a process that will enable clients to establish a claim for loss. FSCS will publish an update on its website detailing the process for settling potential claims in due course.
The Joint Special Administrators' proposals, providing an update on the progress of the Special Administration and the strategy going forward, will be sent to creditors and clients of the Company within the next 8 weeks.

Please monitor the Joint Special Administrators’ website for further updates which will be provided as information becomes available.

Kind regards,

The Joint Special Administrators
For and on behalf of the Company
  • #2,334
  • Jan 20, 2015 10:16am Jan 20, 2015 10:16am
Quoting moneymob
{quote} Come on...and even if...1.00 % of the client funds would be around 950.000 Dollar....

i can assure you its way way more than 1% of what YOU will get...
  • #2,335
  • Jan 20, 2015 10:25am Jan 20, 2015 10:25am
Quoting moneymob
{quote} Come on...and even if...1.00 % of the client funds would be around 950.000 Dollar....
i think it might be a fixed % from each client's account.

maybe 3% or 5%.

even so, charging me to return my money.
joke.
Alpari should bear the cost.
  • #2,336
  • Jan 20, 2015 10:28am Jan 20, 2015 10:28am
guys i joined alpari on the black Thursday with a 3000 usd deposit . my first trade ever was buying eurusd 2 lots. lost over 1k in minutes what a fu*ing luck.

now i want my other 2k back. i heard it will take at least 3 months .

they also the one who closed the trade . can i claim my lost trade as they the ones who closed it without my permission ?​
  • #2,337
  • Jan 20, 2015 10:32am Jan 20, 2015 10:32am
http://www.accountancyage.com/aa/new...m-fees-for-jjb
2.4m for administrating JJB insolvency.
so yeah maybe 2-5 %...
  • #2,338
  • Jan 20, 2015 10:41am Jan 20, 2015 10:41am
Quoting SirMcPip
{quote} This is why you should switch to a Chinese Broker once you get your money back. Let me know how things work out for you over there
There is no broker allowed to provide forex trading service on leverage in China.
  • #2,339
  • Jan 20, 2015 10:44am Jan 20, 2015 10:44am
Quoting SirMcPip
{quote} This is why you should switch to a Chinese Broker once you get your money back. Let me know how things work out for you over there
In Switzerland exchange rate is kept artificially. Like in China.
I work with Brokers from USA. UK and Australia. Not Switzerland or China.
Switzerland Brokers are so good but you have account to Alpari UK
  • #2,340
  • Jan 20, 2015 10:45am Jan 20, 2015 10:45am
what!!! ..are we being charged to get our money back?? this is bloody outragous
whats happening?
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