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Alpari.co.uk Discussion

  • #2,861
  • Jan 23, 2015 10:30am Jan 23, 2015 10:30am
http://leaprate.com/2015/01/etx-puts...ate-exclusive/

ETX Capital?
They seem to want to get a deal done A.S.A.P.
And have recent experience of acquiring other companies so know exactly what is involved.
  • #2,862
  • Jan 23, 2015 10:32am Jan 23, 2015 10:32am
Quoting ibuk
I had CHF trades in profit during the spike that closed out in the region of it's trading right now. I don't see how they can justify voiding these valid trades as there was a legitimate party to each side. I think there could be a lot of legal proceedings/claims against them if they tried to void these trades when other companies honoured them.

As far as I understand there will no one to have legal proceedings/claims against.
  • #2,863
  • Jan 23, 2015 10:37am Jan 23, 2015 10:37am
Quoting jizzyjay
http://leaprate.com/2015/01/etx-puts...ate-exclusive/ ETX Capital? They seem to want to get a deal done A.S.A.P. And have recent experience of acquiring other companies so know exactly what is involved.
I have traded with etxcapital before, very good broker, left because overnight rates slightly to high for my tastes

A market maker but never cheated me
  • #2,864
  • Jan 23, 2015 10:54am Jan 23, 2015 10:54am
Quoting wantsomepips
I would not be surprised if all money made in CHF trades will be the one that will pay for KPMG services. As that would be the closest way for a condition where everyone coms out a winner here. The ones who did not trade CHF get their balance in full. the ones who traded CHF get their balance without any money made on CHF KPMG get paid from clients CHF winnings Alpari gets some sale money (maybe)
Absolutely wrong. You have no idea what you're talking.
I hope you don't trade.
  • #2,865
  • Jan 23, 2015 11:00am Jan 23, 2015 11:00am
Quoting Tim_isoara
{quote} Absolutely wrong. You have no idea what you're talking. I hope you don't trade.
Who are you tell, that is not going to happen? Like you know more.

It is my speculation of one possible scenarios.

It has nothing to do with trading by the way
  • #2,866
  • Jan 23, 2015 11:03am Jan 23, 2015 11:03am
Quoting wantsomepips
{quote} Who are you tell, that is not going to happen? Like you know more. It is my speculation of one possible scenarios. It has nothing to do with trading by the way
Read law and rules
  • #2,867
  • Jan 23, 2015 11:09am Jan 23, 2015 11:09am
looks like balances are going to surprise a lot of people. Some positives might become negative, some negatives maybe less negative or even more negative. What a terrible situation for all of us...
  • #2,868
  • Jan 23, 2015 11:10am Jan 23, 2015 11:10am
The way I read the last statement, in my own case, is as follows (and may help those in a similar situation)

140k account
-75k loss when all open trades got closed by Alpari (NB: non were CHF)
65k balance left

So, 75k just gone, poof, thank you very much Alpari
65k balance left will now get 'pooled' and paid out on a 'pro-rata' basis

Nest stage: wait to be informed of the 'pro-rata' basis. What will it be? 100% of balance? 80%, less...?

As traders we already have the odds stacked against us but this is just absurd

Totally FUBAR
  • #2,869
  • Jan 23, 2015 11:17am Jan 23, 2015 11:17am
Quoting dambuster
The way I read the last statement, in my own case, is as follows (and may help those in a similar situation) 140k account -75k loss when all open trades got closed by Alpari (NB: non were CHF) 65k balance left So, 75k just gone, poof, thank you very much Alpari 65k balance left will now get 'pooled' and paid out on a 'pro-rata' basis Nest stage: wait to be informed of the 'pro-rata' basis. What will it be? 100% of balance? 80%, less...? As traders we already have the odds stacked against us but this is just absurd Totally FUBAR
Mate, you should never have a DD like that.
The way you trade is up to you.
But general idea is that you do not risk more than about 1-3% from account like yours on any given trade.
Unless you had 20-30 or more open trades.
Sorry to say, but it is more like your own fault than Alpari's.
  • #2,870
  • Jan 23, 2015 11:19am Jan 23, 2015 11:19am
If ETX buys then they have already said they will cover any losses.
That means customer statements on 16th january will be honoured as they will pick up the bill.
A quick sale is possible as things like that are what makes this a drawn out affair.
KPMG should vet ETX, take their money then we can move on from this.
And give us a nice little bonus on the way through
  • #2,871
  • Jan 23, 2015 11:22am Jan 23, 2015 11:22am
I mean guys!!! That move wasnt a spike down and back to previous price, its not trading news volatility.. The market made that spike down to 0.8400 and stayed there.... They said negative balances will be asked to payy then... Normally positive trades must be paid... What about trades after the SNB
  • #2,872
  • Jan 23, 2015 11:22am Jan 23, 2015 11:22am
Quoting wantsomepips
{quote} Mate, you should never have a DD like that. The way you trade is up to you. But general idea is that you do not risk more than about 1-3% from account like yours on any given trade. Unless you had 20-30 or more open trades. Sorry to say, but it is more like your own fault than Alpari's.
I appreciate your input but it was simply a case in point and not an analysis of individual trading style
  • #2,873
  • Jan 23, 2015 11:22am Jan 23, 2015 11:22am
Quoting dambuster
The way I read the last statement, in my own case, is as follows (and may help those in a similar situation) 140k account -75k loss when all open trades got closed by Alpari (NB: non were CHF) 65k balance left So, 75k just gone, poof, thank you very much Alpari 65k balance left will now get 'pooled' and paid out on a 'pro-rata' basis Nest stage: wait to be informed of the 'pro-rata' basis. What will it be? 100% of balance? 80%, less...? As traders we already have the odds stacked against us but this is just absurd Totally FUBAR
Before and after Alpari closed positions ,you have the same equity 65K.
Result from your trading is- 75K loss.
  • #2,874
  • Jan 23, 2015 11:23am Jan 23, 2015 11:23am
Quoting Tim_isoara
{quote} Read law and rules
The last notice gave hints that everything what happened (trading results) on 15th after whatever o'clock, will be sort of an interpretation and negotiation of KPMG (mostly) and customers.
  • #2,875
  • Jan 23, 2015 11:25am Jan 23, 2015 11:25am
I hope some company is able to get the acquisition. I don't like the last statement by KPMG at all!

I had EUR/CHF trades open in 2 accounts and both had SLs, one of the SL's was slipped by 40pips and the other one seem to have carried on through the gap and was closed later with 700 points slippage.

Just hope they stand by the prices we were stopped at.
  • #2,876
  • Jan 23, 2015 11:27am Jan 23, 2015 11:27am
Quoting wantsomepips
{quote} The last notice gave hints that everything what happened (trading results) on 15th after whatever o'clock, will be sort of an interpretation and negotiation of KPMG (mostly) and customers.
  • #2,877
  • Jan 23, 2015 11:39am Jan 23, 2015 11:39am
"Creditors wishing to claim any form of security should immediately notify the Administrators in writing and provide appropriate supporting security documentation."

Hi

Can't open any of files downloaded.
Can someone send a proof of debf form. Even I was not affected by CHF, since I've not any position at the time, I've to fill the form anyway, yes?
Regards to all
  • #2,878
  • Jan 23, 2015 11:42am Jan 23, 2015 11:42am
Quoting tugabulls
"Creditors wishing to claim any form of security should immediately notify the Administrators in writing and provide appropriate supporting security documentation." Hi Can't open any of files downloaded. Can someone send a proof of debf form. Even I was not affected by CHF, since I've not any position at the time, I've to fill the form anyway, yes? Regards to all
No, for now, you don't have to do anything.
You are not a creditor, you are a client.
Retail clients are one thing... Professional clients and creditors are another (these ones are those who have to fill a claim).
  • #2,879
  • Jan 23, 2015 11:46am Jan 23, 2015 11:46am
Quoting tonirai
{quote} No, for now, you don't have to do anything. You are not a creditor, you are a client. Retail clients are one thing... Professional clients and creditors are another (these ones are those who have to fill a claim).
  • #2,880
  • Jan 23, 2015 11:46am Jan 23, 2015 11:46am
Quoting tonirai
{quote} No, for now, you don't have to do anything. You are not a creditor, you are a client. Retail clients are one thing... Professional clients and creditors are another (these ones are those who have to fill a claim).
and what if you had a Pro account? Are you a client or a creditor?
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