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!
- #2,341
- Jan 20, 2015 8:45am Jan 20, 2015 8:45am
- #2,345
- Jan 20, 2015 8:56am Jan 20, 2015 8:56am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
i dont understand this pooling thing
seems to me the aminstrators are looking to get paid out of our funds..more crooks
seems to me the aminstrators are looking to get paid out of our funds..more crooks
- #2,347
- Jan 20, 2015 9:03am Jan 20, 2015 9:03am
- Joined Jul 2010 | Status: Determined | 5,346 Posts
My signature is: "Classified".
- #2,348
- Jan 20, 2015 9:10am Jan 20, 2015 9:10am
- Joined Apr 2009 | Status: Trader | 1,522 Posts
{quote} 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
- #2,350
- Jan 20, 2015 9:17am Jan 20, 2015 9:17am
- Joined May 2009 | Status: trader | 2,034 Posts
{quote} Would you please quote me where i said i had an account with Alpari?
http://www.forexfactory.com/showthre...71#post7884771
I am a spy.
- #2,351
- Jan 20, 2015 9:25am Jan 20, 2015 9:25am
- Joined Apr 2009 | Status: Trader | 1,522 Posts
{quote} You forgotten that you have account with Alpari.
. And you are definitely not a spy, you are just the usual idiot who probably is afraid that he lost his meager savings with his Alpari account.
- #2,354
- Jan 20, 2015 9:36am Jan 20, 2015 9:36am
- Joined Jun 2013 | Status: Poor Man | 1,085 Posts
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 ?
Could u please let me know?
The good thing with the future is that it is progressively approaching...
- #2,355
- Jan 20, 2015 9:39am Jan 20, 2015 9:39am
- Joined May 2009 | Status: trader | 2,034 Posts
{quote} That is unfortunately(for your purposes) a demo account which i use for charting since Dukascopy dont offer that
The Chinese are more civilized
I am a client to Alpari UK from 2010. When I win a contest.
In this period I withdrew money I dont deposit. So...
- #2,358
- Jan 20, 2015 9:47am Jan 20, 2015 9:47am
Here's a version with a few typo's cleaned up...
i never doubted if we'l get the money back. what concerns me is for how long it will drag us down there and how much it will set you back, that's wot i get after reading the claim faq uploaded by kpmg. the logic behind admin cost for distributing client money to be buried in client's money pool may seem reasonable but it doesnt stand given the fact that clients are not creditors, and trust me there are blurry lines out there especially when it comes to financial practice and laws. UK supreme court's ruling on Lehman may have been history but it should give you a taste of how messy it can get when everyone is fighting for the same cake inside the ring, clients or creditors. FCA may have rules on this game but u don't see brokers going down every day and definitely not like this, this is the kind of incident that rules r born out from. u'd prefer a clean cut from the mess and not dragged into the creditor and client committee thing cos that's where the LONG waiting really begins. u'l be lucky to get back majority of your money in moths if not yrs.
and dont you think insolvency administrators is on your side, you are NOT creditors and they represent the best interests of CREDITORS and most of all,their own cut in the cake.
one good thing about the segregated client account is that it is not directly exposed to market risks, ie alpari will have a front agent account with its liquidity provider, and money is regularly settled between segregated account pool and the broker's account to reflect the actual status i.e. clients' winnings or losses, and by saying "reguarly" i doubt it would be real time in and out of those segregated accounts to reflect each and every transaction but in sum regualy, otherwise..just imagine how many trades are initiated per minute... that's also probably one of the reasons why FCA has a requirement on the broker's mininum level of capital in the first place. so when the distaster hit the market, alpari took the losses but it can only get compensated up to the balance available on those traders' accounts and i'm sure as hell they did take those money out , but it happen so quick that, it would have to do that afterwards,and i'd assume it's against rules to move more than that limit amount of money out from the client money pool, hence there will be no such thing as collateral damage to other clients with positive accounts. only question is if alpari put money back into the account for those who won. if they didn't do so then there's not gonna be enough money in the pool for everybody to get the money back in full. interestingly enough thou both alpari and kpmg stated in their announcement that most clients r losing, so i'd assume the above mentioned impact is minimum therefore no substantial reason to keep us waiting too long except for other hidden agendas, and i dont like being used as a negotiation chip as much as i like to see a buy out from the administrator.
and bear in mind that insolvency administrators represents the interests of creditors and the company, i.e. they represent alpari, NOT CLIENTS, it's not goverment staff and it's not for PUBLIC INTERESTS, feel free to make your personal judgement from here.
- #2,359
- Edited 10:05am Jan 20, 2015 9:52am | Edited 10:05am
- Joined May 2009 | Status: trader | 2,034 Posts
{quote} That is unfortunately(for your purposes) a demo account which i use for charting since Dukascopy dont offer that
- #2,360
- Jan 20, 2015 9:54am Jan 20, 2015 9:54am
First of all Switzerland is not a financial place, but Zürich. I like Switzerland a lot, but you cant compare Zürich with London. Dukascopy is very good broker (bank),but they also have their tricks
Very interesting situation. London can now show us if it is either a real quality financial place like Switzerland or just another place that spends its money on flashy, expensive ads and financial TV shows, although i think it will be the former. So all should be going well without any problems and all funds will likely be returned. But they might need a few days which gives clients time to focus on more important things than trading :-).