DislikedIt was as much as LP's fault as a broker and traders fault. Everyone played a role in this disaster. Biggest culprit if anyone it is SNB.Ignored
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DislikedIt was as much as LP's fault as a broker and traders fault. Everyone played a role in this disaster. Biggest culprit if anyone it is SNB.Ignored
Disliked{quote} No. At some point the SNB would give up the support of the franc. No one aware of a time. And therefore only stupid people have traded against the Swiss franc. And who has not mastered the basics of trading and received too much risk with too large trades, learn the hard must be paid.Ignored
DislikedNot the leverage was. It was stupidity of people who can not weigh the risks and benefits. What profits would have been possible in CHF? 50 pips? When? and what risk? Incalculable. Opportunity and risk out of proportion. It was ignorance and stupidity. Ignorance of the basics of trading. Stupidity to open large positions. Who more than 1% of its capital used for trading, has 4,000 pips air without crashes the account. And that opens appropriate positions is within the knowledge about trading. Ignorance and greed were. Not the high leverage. And...Ignored
Disliked{quote} No. At some point the SNB would give up the support of the franc. No one aware of a time. And therefore only stupid people have traded against the Swiss franc. And who has not mastered the basics of trading and received too much risk with too large trades, learn the hard must be paid.Ignored
Disliked{quote} {quote}As you've rightly said, there was very little upside & downside was huge so going long on EURCHF was a terrible trading decision at the time. But of course, that was a pegged currency & it was inevitable but tomorrow, we could be in a trade & Euro crashes massively because one of the bigger Eurozone countries decides to leave Euro, such an event isn't unlikely at all, it could easily occur in the near future but at the end of the day, we, as traders, have to be aware of these possibilities & be willing to take responsibility...
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Disliked{quote} Nobody knew that was going to happen. Up until the last minute the talk was they were going to defend the peg and then did the opposite. Why do you think everyone got screwed, it is because no one was prepared that SNB would mislead. You cannot go around blaming new traders. It could have happened when you were new at trading. This is not something that happens every other day.Ignored
Disliked{quote} You're absolutely right in that it wasn't something that happens every day but these things DO HAPPEN every now & then, & most informed traders know that central banks do pull this sh!t every once in a while & therefore, if we are trading the markets then we should be prepared & take responsibility for our trades rather than blaming others; if one doesn't know that these things do happen occasionally & can't take responsibility for one's losses then perhaps, one should reconsider whether they should be trading at all. As I've said, the best...Ignored
Disliked{quote} you have my respect for your commentsand i learned to have different accounts when i have my money back
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Disliked{quote} {quote}As you've rightly said, there was very little upside & downside was huge so going long on EURCHF was a terrible trading decision at the time. But of course, that was a pegged currency & it was inevitable but tomorrow, we could be in a trade & Euro crashes massively because one of the bigger Eurozone countries decides to leave Euro, such an event isn't unlikely at all, it could easily occur in the near future but at the end of the day, we, as traders, have to be aware of these possibilities & be willing to take responsibility...
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Disliked{quote} I agree with the part about taking responsibility. As a third party observer with no trades in chf, I do not agree with the part about blaming new traders for what SNB caused by misleading. Ofcourse everyone who made a loss will be responsible and accountable. You cannot blame new traders, there were plenty of experienced traders who were not repared either. My money is stuck just like others but it is not because of new traders, and I am responsible for putting all the money in one account. Lesson learned the hard way.Ignored
Disliked{quote} It could be that experienced traders realize that the losses they made on that trade were theirs & know that they can't blame others for it while a lot of new traders who were caught off-guard are going around blaming others, including brokers, banks, LPs, central banks & whoever they can think of, & that's why some of the experienced traders (who perhaps weren't on the trade) are perhaps being a litte harsh on the new traders..........may be both sides need to have a closer look at themselves, so experienced traders could cut newbies some...Ignored
Disliked{quote} It could be that experienced traders realize that the losses they made on that trade were theirs & know that they can't blame others for it while a lot of new traders who were caught off-guard are going around blaming others, including brokers, banks, LPs, central banks & whoever they can think of, & that's why some of the experienced traders (who perhaps weren't on the trade) are perhaps being a litte harsh on the new traders..........may be both sides need to have a closer look at themselves, so experienced traders could cut newbies some...Ignored
Disliked{quote} Meanwhile, many brokers reduce the leverage to make important decisions by the central banks. This is good, I think. In all brokers is to read that the losses from trading may crash the account. Who trades reckless, who must bear the consequences when something like this happens. First you have to acquire the necessary knowledge. Perhaps trading with a demo account and try out how something works. I think many traders have far too little money. Altogether too little money. If I use to trade 10% of my money. I suspect that many traders use...Ignored
Dislikedby Tim Wallace 27 January 2015 1:23am CUSTOMERS of forex and spreadbetting site Alpari UK could have to wait four to six weeks before they can re-access their funds, one of the bidders to buy parts of the collapsed firms warned yesterday. Administrators from KPMG are pooling client funds, and will pay clients the money from their accounts when it is certain the numbers are robust. But the process is being slowed down by uncertainty over how to calculate the sums owed to those who had trades...Ignored
Disliked{quote} Not looking good... These guys charge £400 per hour, it's not a surprise they want to delay the whole process. And their wages will probably come from our accounts... We're in a wrong biz!Ignored
Disliked{quote} Not looking good... These guys charge £400 per hour, it's not a surprise they want to delay the whole process. And their wages will probably come from our accounts... We're in a wrong biz!Ignored
Disliked{quote} delay is different. How much time would you need to correct the prices of trades to check? and how much time you need to 100,000 accounts check? A week? Dreams continue. And what sum does it cost? I suspect a maximum of 3%. Were you a greater loss pleasant because the types sloppy work?Ignored
Disliked{quote} delay is different. How much time would you need to correct the prices of trades to check? and how much time you need to 100,000 accounts check? A week? Dreams continue. And what sum does it cost? I suspect a maximum of 3%. Were you a greater loss pleasant because the types sloppy work?Ignored
Disliked{quote} The question is: why do they want to check all the accounts and "correct" prices, is it because they want: extra work for them (most probably IMO), or extra money for us customers?Ignored
Disliked{quote} one should understand how the market works and learn first. Then you can trade. Not vice versa. I practiced two years before I started trading. At first, I still had crashed two times my trading account. But small sums. Nevertheless, it was learn the hard. Since then I know that I may trade only a small percentage of the money. A maximum of 2% of the trading account. Better than 1%. Certainly, I have a short term less profits. But I have greater long-term profits than the trader who wants to quickly realize large profits. For these traders...Ignored