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Alpari.co.uk Discussion

  • #2,921
  • Jan 24, 2015 7:06am Jan 24, 2015 7:06am
Hi guys, i'm new here.

a few days ago i filed a "proof of debt". was it for clients or creditors?.. i'm a client. i hope i didn't do anything stupid.

I have a positive balance in my pro-direct account and wasn't involved in any CHF trades.. i hope i get my money soon... i kinda need it
  • #2,922
  • Jan 24, 2015 8:27am Jan 24, 2015 8:27am
Quoting Mroue26
{quote} Yea VERV we played it smart and we got extra lucky.. And they are saying that we wont be able to claim our CHF profits .. How about that if it became true,?? :/
We can either apply though the FSCS for compensation or just suck it up.

I will be very angry if I lose my profits, it wasn't a mistake or misquote that a held my short for 28 days.


Quoting madsuh
{quote} If if nothing else, be reminded that you'll have bragging rights and my respect if our paths ever cross. BTW I also have some bragging rights I have been investing in an arbitrage all year. Never thought I would find one, but I did. Unfortunately all my profits 100k+ are tied up in this bankruptcy anyhow, the arbitrage still works, so I will make it back eventually, just need more funds and more time.
Really? Nice, keep that to yourself though lol.

Surprised you can find arb opportunities in the forex market. Note if you are arb'ing between broker they won't give you the profit.
  • #2,923
  • Jan 24, 2015 9:21am Jan 24, 2015 9:21am
Quoting Jack.e
if alpari played by the book and didn't touch it then you should be able to get your money back very soon, those winnings in the chf trade may take much longer to get back as a debt. Just my own opinion.
What happens if they did not play by the book?
  • #2,924
  • Jan 24, 2015 10:52am Jan 24, 2015 10:52am
Hi Guys,
Do you know if people with negative balance receive the email from alpari? The one where they asking if you want to be remove from the clients database? Or is it just people with positive balance?
  • #2,925
  • Jan 24, 2015 10:56am Jan 24, 2015 10:56am
Quoting ziggy25
{quote} What happens if they did not play by the book?
FSCS will taking action,
http://www.fscs.org.uk/news/2015/jan...ri-uk-limited/
I see it all in between ...
  • #2,926
  • Jan 24, 2015 11:01am Jan 24, 2015 11:01am
Quoting Thx
{quote} FSCS will take an action, http://www.fscs.org.uk/news/2015/jan...ri-uk-limited/
The FSCS covers UK residents only...
  • #2,927
  • Jan 24, 2015 11:02am Jan 24, 2015 11:02am
Quoting Jpwhy
Hi guys, i'm new here. a few days ago i filed a "proof of debt". was it for clients or creditors?.. i'm a client. i hope i didn't do anything stupid. I have a positive balance in my pro-direct account and wasn't involved in any CHF trades.. i hope i get my money soon... i kinda need it
That form was for creditors i believe, but it shouldn't matter. KPMG say will be contacting clients soon i hope!

Keep an eye on this website here https://www.insolvency-kpmg.co.uk/ca...F119D1101.html
  • #2,928
  • Jan 24, 2015 11:38am Jan 24, 2015 11:38am
Japanese regulator confirms Alpari Japan enters administration

http://leaprate.com/2015/01/japanese...dministration/
  • #2,929
  • Jan 24, 2015 11:41am Jan 24, 2015 11:41am
Quoting neoxis
Personally i have about 40k on alpari and i trade without leverage so just 1:1...leverage is very dangerous and with a good balance you just don't need to use it. Maybe i can arrive just 1:2 for how i work...but not more. And if we have this issue is just for a bad use of leverage.
  • #2,930
  • Jan 24, 2015 11:48am Jan 24, 2015 11:48am
Dear all,

I was trying to catch up with the issue but I am a bit lost.

I have an account with Alpari UK with about $5,000. I traded during SNB volatility the EUR/GBP pair. I gained some pips from that. I didn't do any action yet to claim my money. What do I have to do in order to claim my money as soon as possible?

Please help me as I am completely frustrated.

Kind Regards,
Nikolas
  • #2,931
  • Jan 24, 2015 11:51am Jan 24, 2015 11:51am
Quoting Aimee1984
Hi all, I'm a journalist with a national newspaper and am looking to chat to people who know what happened with Alpari. Would anyone like to talk about their experience?
No need to talk to anyone special bro, you can just read the conversation and you will find that the situation suck, our positions where closed ( and wasn t related to this cheap currency CHF).
Our money is stuck in Alpari, we can t trade and we make a leaving of it, one week has passed and still we didn't hear anything from the regulation or kPMG or even the company when it announce insolvency
Good luck in analyzing that bro
  • #2,932
  • Jan 24, 2015 11:59am Jan 24, 2015 11:59am
Quoting PoundTrader
Japanese regulator confirms Alpari Japan enters administration http://leaprate.com/2015/01/japanese...dministration/
this is not new. Read the date. Wednesday. Today is Saturday.
  • #2,933
  • Jan 24, 2015 12:01pm Jan 24, 2015 12:01pm
Quoting Jadgeha
{quote} No need to talk to anyone special bro, you can just read the conversation and you will find that the situation suck, our positions where closed ( and wasn t related to this cheap currency CHF). Our money is stuck in Alpari, we can t trade and we make a leaving of it, one week has passed and still we didn't hear anything from the regulation or kPMG or even the company when it announce insolvency Good luck in analyzing that bro
And guess what, owners of Alpari UK are enjoying their business in normal conditions with their other companies, yes, only clients with the segregated accounts who are losing now..

I remember I read that they will see buyers' offers on the weekend, but they didn't say which weekend
lool
  • #2,934
  • Jan 24, 2015 12:05pm Jan 24, 2015 12:05pm
Quoting Aimee1984
Hi all, I'm a journalist with a national newspaper and am looking to chat to people who know what happened with Alpari. Would anyone like to talk about their experience?
I am willing to talk. what you want to know?
  • #2,935
  • Jan 24, 2015 12:08pm Jan 24, 2015 12:08pm
Our money in segregated account
What a joke
loool
  • #2,936
  • Jan 24, 2015 12:35pm Jan 24, 2015 12:35pm
Quoting WayToGo
{quote} And guess what, owners of Alpari UK are enjoying their business in normal conditions with their other companies, yes, only clients with the segregated accounts who are losing now.. I remember I read that they will see buyers' offers on the weekend, but they didn't say which weekend lool

actually weekends are the best time to do such kind of business negotiations and agreements...

my sources say that all the parties (i know of and so i make the assumption that with the rest are the same) have issues regarding the litigation going on to the company and which in effects makes administrators positions rather difficult.

administrators would love to end with a sale + the sales of the remaining assets...for them its an "easy and faster win win"...

many companies wanting the assets of alpari (the good assets) are not know as they chose not to make any "PR" announcements... although many of them are in the run just to get "inside info" of what the company carry and thus what their competitor will get and how we get it to their advantage (targeted promotions etc)

the issue for me and ALL the positive ones i guess is to finish and finish quick...i hate to repeat it... but having capital that we cannot "invest" and by time going by... we lose opportunities
  • #2,937
  • Jan 24, 2015 12:55pm Jan 24, 2015 12:55pm
The segregated account issue is becoming a joke in my opinion.

Traders chose to trade where strict regulations are maintained like in the UK with the FCA. I am one of those who based my decision to trade with Alpari on that.

Segregate in my books mean that NOT EVEN an administrator can lay his hands on the money. The regulator should be in charge of the money AT ALL TIMES because they are the regulator isn't it?

The UK law has now put the administrator in charge of regulated money. There is now effectively two bodies overlooking the procedures with the regulator seemingly 2nd in charge of the money. The regulator and its authority have been downgraded by an administration order by UK law. It sounds like double standards to me and also very confusing.

In my books should the money which are in segregated accounts and governed by UK law under the watchful eye of the FCA been handed over to the FCA for administration. That is why they are called the regulator and their duty is to police those who are governed by the law when dealing with clients funds.

My money , being regulated, therefore have nothing to do with the insolvent estate of Alpari. The Regulator should simply take the funds and start paying it back in accordance with client balances. Negative balances is negative and should be handled by the administrator.
So the current situation looks and smells like double standards on behalf of the UK lawmakers. Why is it that the regulator must stand back and watch how clients who has money and who's funds have been segregated suffer more by this process?

We have already been informed on several occasions that the money ( app 100 million US) is available in an Alpari bank account in the UK. Let those then who have positive balances be paid out immediately and leave the rest of the more complicated details to the administrators to sort out!

Let the regulator regulates the money which are available and let the administrator do his job to manage the creditors , negative balance accounts and Alpari's insolvent estate.

The problem is busy escalating with KPMG being in charge with "regulated money" ! Money which has nothing to do with the insolvent estate and money which cannot be used to pay creditors as per the UK law!

If the FCA or KPMG is reading this please note that you are neglecting your duties by NOT informing the clients of ALPARI about your dealings with so called buyers. The least you can do is to say something to that effect because we are tired of getting updates from other websites regarding the selling process .
Never Ever Give Up!
  • #2,938
  • Jan 24, 2015 1:15pm Jan 24, 2015 1:15pm
Quoting KGP
{quote} actually weekends are the best time to do such kind of business negotiations and agreements... my sources say that all the parties (i know of and so i make the assumption that with the rest are the same) have issues regarding the litigation going on to the company and which in effects makes administrators positions rather difficult. administrators would love to end with a sale + the sales of the remaining assets...for them its an "easy and faster win win"... many companies wanting the assets of alpari (the good assets) are not...
I agree with you dear, I am just making of our situationI can't imagine we got the percentage 1 of milion to win this situation
  • #2,939
  • Jan 24, 2015 1:19pm Jan 24, 2015 1:19pm
Quoting Cobra
The segregated account issue is becoming a joke in my opinion. Traders chose to trade where strict regulations are maintained like in the UK with the FCA. I am one of those who based my decision to trade with Alpari on that. Segregate in my books mean that NOT EVEN an administrator can lay his hands on the money. The regulator should be in charge of the money AT ALL TIMES because they are the regulator isn't it? The UK law has now put the administrator in charge of regulated money. There is now effectively two bodies overlooking the procedures with...

100% agreed.
  • #2,940
  • Jan 24, 2015 1:25pm Jan 24, 2015 1:25pm
Quoting Cobra
The segregated account issue is becoming a joke in my opinion. Traders chose to trade where strict regulations are maintained like in the UK with the FCA. I am one of those who based my decision to trade with Alpari on that. Segregate in my books mean that NOT EVEN an administrator can lay his hands on the money. The regulator should be in charge of the money AT ALL TIMES because they are the regulator isn't it? The UK law has now put the administrator in charge of regulated money. There is now effectively two bodies overlooking the procedures with...
can you email exactly this to FCA with the administrators in CC? it would be interesting to read their reply...

also i would add why pay any fees to the administrator especially when the company (even in administration) is still "alive" (but only for the administration process) and thus we could theoretically send the request to get paid and we get paid through the already in place appropriate process...

but i guess this would hammer the sale talks...so i kind of understand it.


nevertheless i sense you might be right... as i have already said its a very difficult process because its not a typical insolvency ... imagine that event he administrators gave us the "creditors form" and now we are still awaiting for the correct form....
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