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Alpari.co.uk Discussion

  • #3,501
  • Jan 31, 2015 1:13pm Jan 31, 2015 1:13pm
Quoting neoxis
{quote} Yeah you're right. Anyway as kpmg said money are still there. So we will see when they gonna pay us back and for sure i will think a lot and check everything about one broker before to deposit and no more so much money.
the sum of the deposit is ok if you have several such accounts with different brokers. but the sum should never be higher than the maximum of possible reimbursement by the supervisory authority. If you follow these two simple rules, then everything is ok, even once a broker insolvency must register. For the money you get sometime. And until then you have the other brokerages, which you can trade. Then there is no drama, just annoying. I have my capital evenly distributed in various regulated brokers. And I have distributed 10% of my capital. 90% are on normal bank accounts. Obviously, many traders overlook this important rule, a maximum of 20% to invest in risky things like trading.
  • #3,502
  • Jan 31, 2015 1:50pm Jan 31, 2015 1:50pm
Quoting Phil_GMT
{quote} This FCA FSCS will sort your first £85,000 anything over that you have lost.
Wrong. The figure is £50k. The £85k applies to bank accounts.
  • #3,503
  • Jan 31, 2015 2:15pm Jan 31, 2015 2:15pm
Quoting claudia1
{quote} Wrong. The figure is £50k. The £85k applies to bank accounts.
Sort of like in Germany. € 100,000 for customers. But there are banks that hedge substantially higher in Germany. In millions, because these banks have their own security fund. Who, for example, at a Volksbank in Germany has an account that has no upper limit for the security of the account. These special small banks are jointly liable for a bank that would bankrupt. And the Bank of Scotland branch office guarantees per customer in Germany € 250,000.
  • #3,504
  • Jan 31, 2015 2:43pm Jan 31, 2015 2:43pm
Quoting KGP
what i dont understand is something of a common sense.... the company cannot be sold as an whole... none would buy alpari as a whole... because actually what you buy is clients* + operational structure and licenses + brand ... and if you are an interesting party from within the industry you dont give a damn for a brand thats not only heavily negative but also can have royalties with it (i am almost sure the alpari brand name is not owned by them).... also the operational structure and licenses are of no concern because if you are already a broker...

there probably an issue with the alpari brand it cannot be sold because its a fanchise so it has to be broken up and this is what is taking all the time..seperating the client base and trying to get back losses b4 paying out
  • #3,505
  • Jan 31, 2015 3:54pm Jan 31, 2015 3:54pm
Quoting nAVIN2007
{quote} there probably an issue with the alpari brand it cannot be sold because its a fanchise so it has to be broken up and this is what is taking all the time..seperating the client base and trying to get back losses b4 paying out
This is normally no problem....or its an excuse from KPMG or the current owners if they cant sell the company

I have seen it more then once, even with so called brands.
The buyer would be allowed to hold the name alpari UK for a period of X days/weeks/month and than have to rename the company.
  • #3,506
  • Jan 31, 2015 9:22pm Jan 31, 2015 9:22pm
Quoting Spekulant
{quote} The buyer would be allowed to hold the name alpari UK for a period of X days/weeks/month and than have to rename the company.
1) noone (at least at this stage) wants the brand
2) even if they are "forced" to get it and do the rebranding...
a) they will have to pay royalties for a brand "not wanted" and which can be a client "put off" (not only to the current but the "future prospective" ones)
b) the rebranding costs will be enormous

anyway thats assumptions...and because from what i understand many of us have "plenty of time" lately....
  • #3,507
  • Feb 1, 2015 3:21am Feb 1, 2015 3:21am
bla bla bla
where is the money??
  • #3,508
  • Feb 1, 2015 3:59am Feb 1, 2015 3:59am
Quoting DonJoee
{quote} Btw. in case they really don't have this pre-made web software, I can suggest one, which is existing, contains all the data they need (members' details, balances etc.). This is called Alpari UK's MyAlpari members' page. They just have to re-enable it and allow everyone (who didn't trade that day or had trades unrelated to CHF) to make their claims through that one (i.e. withdrawal requests). The remainder of accounts can be handled much easier and also in shorter time because the others were already out of the picture. That's all, folx....
VERY GOOD point! KPMG surely have IT staff that could get Alpari UK's MyAlpari running in no time!!!

A fair question to be answered is why don't they just do it?

Develop a new site from scratch sounds like costly and unnecessary time consuming.
  • #3,509
  • Feb 1, 2015 4:30am Feb 1, 2015 4:30am
Quoting mazzara
{quote} VERY GOOD point! KPMG surely have IT staff that could get Alpari UK's MyAlpari running in no time!!! A fair question to be answered is why don't they just do it? Develop a new site from scratch sounds like costly and unnecessary time consuming.
In principle, can use the website of Alpari. Alternatively, a standard template for a website costs next to nothing. Then some pages must be included with explanations on the withdrawal form in the website and the payment form. For IT people it is working for a maximum of one day. The site is supposed to not win a international award but be practical.
Anyway, I would get as a layman so a site with Joomla constructed within two days. That's why I do not understand why this would take so long.
  • #3,510
  • Feb 1, 2015 4:38am Feb 1, 2015 4:38am
Quoting wookey
​Essentially what you are suggesting is a breaking up the company and selling its assets. It is a good deal for you, but not so good deal for other creditors and shareholders.

Who are the shareholders? I understand that Alpari UK is a branch of some russian investor or investors. They are still live in the market, and it's a global market as I recall. So I understand UK regulator should have power to ask them for more capital after the event, instead they just left the mess and no bothers.

Who are the shareholders any way?

About creditors, I believe most of them are big banks. Citi has like $8.8M. These banks have huge credit departments, rule and polices, I don't believe they would have opened a line of credit like that with no collateral. There are assets from Alpari for sure in some kind, maybe offshore, I don't know.

So I think breaking the company and selling the client base is a good outcome for everyone, and a fair one, given the circumstances.
  • #3,511
  • Feb 1, 2015 4:39am Feb 1, 2015 4:39am
http://forexmagnates.com/alpari-uk-c...dministrators/
  • #3,512
  • Feb 1, 2015 4:40am Feb 1, 2015 4:40am
Quoting mazzara
{quote} VERY GOOD point! KPMG surely have IT staff that could get Alpari UK's MyAlpari running in no time!!! A fair question to be answered is why don't they just do it? Develop a new site from scratch sounds like costly and unnecessary time consuming.
what is time-consuming, would not the construct of a particular website. The time-consuming would be the comparison with existing databases of Alpari. Great! Why easy when you can work complicated? When using the existing site of Alpari's claims and information of the clients can be immediately verified. how stupid the administrators are you? Logical thinking and deductive reasoning seems to be no strength of the administrators.
  • #3,513
  • Feb 1, 2015 4:51am Feb 1, 2015 4:51am
Quoting leokatz
{quote} what is time-consuming, would not the construct of a particular website. The time-consuming would be the comparison with existing databases of Alpari. Great! Why easy when you can work complicated? When using the existing site of Alpari's claims and information of the clients can be immediately verified. how stupid the administrators are you? Logical thinking and deductive reasoning seems to be no strength of the administrators.
I think it is just to have more time to try to sell Alpari, whole, or in part, because without our funds would not be worth anything, so instead, they can keep open the special administration for a long time, resulting in a gain of KPMG, and have opportunities to sell.
  • #3,514
  • Feb 1, 2015 4:54am Feb 1, 2015 4:54am
Quoting leokatz
{quote} In principle, can use the website of Alpari. Alternatively, a standard template for a website costs next to nothing. Then some pages must be included with explanations on the withdrawal form in the website and the payment form. For IT people it is working for a maximum of one day. The site is supposed to not win a international award but be practical. Anyway, I would get as a layman so a site with Joomla constructed within two days. That's why I do not understand why this would take so long.
You seems to know what you are saying, and a totally agree. It is taking to long either way, no matter from which you look at.

I understand the need to reconcile the books and get the figures right. It seems they are finishing this part.

Once they are done they have all our information. I gave Alpari all the documents they asked for to open the account, an they have my bank account also. Point is, they suppose to know me/us. All they have to do now is issue their balances back to the clientes (100,000 emails should do it) and wire the money back.
  • #3,515
  • Feb 1, 2015 6:09am Feb 1, 2015 6:09am
I get really angry and desperate about this shit!
This is getting more insane from day to day!

This is not my first insolvency proceedings!

Unbelievable how the handle us....
If I really need to pay this guys to give me MY money out of SEGREGATED ACCOUNTS Alpari was my first and last FCA regulated broker!
  • #3,516
  • Feb 1, 2015 6:32am Feb 1, 2015 6:32am
Quoting Spekulant
I get really angry and desperate about this shit! This is getting more insane from day to day! This is not my first insolvency proceedings! Unbelievable how the handle us.... If I really need to pay this guys to give me MY money out of SEGREGATED ACCOUNTS Alpari was my first and last FCA regulated broker!
absolutely. My other brokers are in Germany, Australia and New Zealand. What use an authority to operate inefficiently as in the UK? The financial center UK now takes itself a long-term damage.
  • #3,517
  • Feb 1, 2015 6:41am Feb 1, 2015 6:41am
Quote
As previously communicated, one of the Joint Special Administrators’ objectives is to ensure the return of client assets (including client money) as soon as is reasonably practicable. Before client money can be returned, the Regulations require that each client agrees their client money entitlement with the Joint Special Administrators. In order to facilitate this process, the Joint Special Administrators are developing a web portal (“the Claims Portal”) which will (i) give retail clients direct access to agree their claims; and (ii) provide information...

Quote
The Joint Special Administrators are aware that, following the validation process, there are likely to be a number of clients who will have negative balances in their Client Account, some of which may be significant, due to the volatility in the market following the SNB announcement on Thursday, 15 January 2015. Where there are negative balances, those clients will be required to make payment to the Company.

anyone can explain? clients requires to make payment to company?
  • #3,518
  • Feb 1, 2015 7:26am Feb 1, 2015 7:26am
Quoting widyantoro
{quote} {quote} anyone can explain? clients requires to make payment to company?
The guys with negative account balances have to cover this loss= pay there debt!
  • #3,519
  • Feb 1, 2015 8:53am Feb 1, 2015 8:53am
Quoting widyantoro
{quote} {quote} anyone can explain? clients requires to make payment to company?
Customers whose account was crashed have debts at Alpari. And these customers are asked to balance their accounts. Sounds funny again. I had read that some of the greatest losers clients are from Lebanon. Wahahaha, as if that would pay anything! Maybe money can be collected by British customers. European customers or clients from overseas with a negative balance will also pay nothing.
  • #3,520
  • Feb 1, 2015 9:46am Feb 1, 2015 9:46am
Hi guys!

I have read on http://forexmagnates.com/alpari-uk-c...mation-claims/, that clients received am email? have you got it? i am also a client but didnt get nothing. i am only following https://www.insolvency-kpmg.co.uk/ca...F119D1101.html, for info which says in the last "update on process to submit a claim" that "At this stage, there is no requirement for people who believe they have a client money entitlement to submit a claim to the Joint Special Administrators for the purposes of receiving a distribution."

regards
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