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  • #3,601
  • Feb 3, 2015 8:27am Feb 3, 2015 8:27am
Quoting waytogo
and guess what guys someone has called me today from other broker he had my number my emai and my address loool what is this
😝😝😝😝😝
  • #3,602
  • Feb 3, 2015 8:33am Feb 3, 2015 8:33am
Quoting WayToGo
And guess what guys Someone has called me today from other broker he had my number my emai and my address loool what is this
Me too, imperial options number 02037738610 - incase you want to block them
  • #3,603
  • Feb 3, 2015 8:35am Feb 3, 2015 8:35am
Okay. I have searched and called and yet nothing. Again. Has anyone heard anything new? Anything positive will help right now.
  • #3,604
  • Feb 3, 2015 8:36am Feb 3, 2015 8:36am
Quoting verv
{quote} Me too, imperial options number 02037738610 - incase you want to block them
But they know that you have your money in Alpari? If true, is a big problem and KPMG must be contacted.
  • #3,605
  • Feb 3, 2015 8:37am Feb 3, 2015 8:37am
Quoting Jadgeha
We didn't understand anything from ur post bro can u explain properly what happen with u the company is in default since they placed in administrators hands
I have got some idea.I had spoken to FSCS too and was told that they are not dealing with this as yet.The very fact that
this has now come on the fscs website i.e. fscs are acknowledging it means it is very likely we will have to claim
through FSCS which could take as long as 6 months.Also,since there are many regulations in the UK,I am sure the
negative clients are claiming very poor execution of their trades.Nothing seems to be clear at the moment.
Effectively it could imply KPMG will not have the money to return and it will have to go through FSCS.
  • #3,606
  • Feb 3, 2015 8:43am Feb 3, 2015 8:43am
Quoting shail31
{quote} I have got some idea.I had spoken to FSCS too and was told that they are not dealing with this as yet.The very fact that this has now come on the fscs website i.e. fscs are acknowledging it means it is very likely we will have to claim through FSCS which could take as long as 6 months.Also,since there are many regulations in the UK,I am sure the negative clients are claiming very poor execution of their trades.Nothing seems to be clear at the moment. Effectively it could imply KPMG will not have the money to return and it will have to go...
So kpmg said bullshit to us? when they said from a first check up seems than all funds are intacts? bah...this just confusing me.
myfxbook: neoxis
  • #3,607
  • Feb 3, 2015 8:46am Feb 3, 2015 8:46am
Quoting shail31
{quote} I have got some idea.I had spoken to FSCS too and was told that they are not dealing with this as yet.The very fact that this has now come on the fscs website i.e. fscs are acknowledging it means it is very likely we will have to claim through FSCS which could take as long as 6 months.Also,since there are many regulations in the UK,I am sure the negative clients are claiming very poor execution of their trades.Nothing seems to be clear at the moment. Effectively it could imply KPMG will not have the money to return and it will have to go...
Okey I got ur point thanks man
  • #3,608
  • Feb 3, 2015 8:48am Feb 3, 2015 8:48am
You guys are just speculating! Until there is something concrete from KPMG or the FCA there is nothing to be done! You are just damaging your own health with all the speculation and preoccupation.
  • #3,609
  • Feb 3, 2015 8:50am Feb 3, 2015 8:50am
Quoting WayToGo
And guess what guys Someone has called me today from other broker he had my number my emai and my address loool what is this
Could be those retards that called me from hong kong. Scammers.
Someone at Alpari must have leaked our personal info to them or something. Cause ive never given anybody else my phone number.
My signature is: "Classified".
  • #3,610
  • Feb 3, 2015 8:59am Feb 3, 2015 8:59am
Quoting neoxis
{quote} So kpmg said bullshit to us? when they said from a first check up seems than all funds are intacts? bah...this just confusing me.
No,the funds are intact.But those funds are surely before the chf peg was removed. i.e. client funds before
the 15th 8:30GMT are intact and separate as Alpari uses its own money to trade as per fca regulation.
After the chf fiasco alpari suffered massive losses ,most clients did too while some made a profit(remember it
was still alparis money) as client funds are separate.
To adjust to the right levels is very confusing as those who lost will complain about poor execution
and those who won will want their winnings.Loosers will contact fca and financial ombudsman too.
Hence there is a delay .
  • #3,611
  • Feb 3, 2015 8:59am Feb 3, 2015 8:59am
Quoting papamax
You guys are just speculating! Until there is something concrete from KPMG or the FCA there is nothing to be done! You are just damaging your own health with all the speculation and preoccupation.
Agreed.

FSCS FAQ

Q: The firm I dealt with is no longer trading, but FSCS says it cannot help me. Why not?

A: As a fund of last resort, we can only consider claims if they cannot be paid by anyone else. If the firm is no longer trading but still has assets that could meet your claim, we are unlikely to be able to help you. This means that you will need to take your case up with the firm you dealt with.

KPMG is the COURT appointed insolvency company charged with winding up Alpari's assets and business. FSCS won't get involved unless your claim with KPMG does not get resolved.
  • #3,612
  • Feb 3, 2015 9:04am Feb 3, 2015 9:04am
Quoting shail31
{quote} I have got some idea.I had spoken to FSCS too and was told that they are not dealing with this as yet.The very fact that this has now come on the fscs website i.e. fscs are acknowledging it means it is very likely we will have to claim through FSCS which could take as long as 6 months.Also,since there are many regulations in the UK,I am sure the negative clients are claiming very poor execution of their trades.Nothing seems to be clear at the moment. Effectively it could imply KPMG will not have the money to return and it will have to go...

From the "negative balance" view, would that be good or not? For positive guys obviously it is not good at all. Not from the UK, that's why am I asking....
  • #3,613
  • Feb 3, 2015 9:07am Feb 3, 2015 9:07am
Quoting shail31
{quote} No,the funds are intact.But those funds are surely before the chf peg was removed. i.e. client funds before the 15th 8:30GMT are intact and separate as Alpari uses its own money to trade as per fca regulation. After the chf fiasco alpari suffered massive losses ,most clients did too while some made a profit(remember it was still alparis money) as client funds are separate. To adjust to the right levels is very confusing as those who lost will complain about poor execution and those who won will want their winnings.Loosers will contact fca...
Ok , i've opened and closed a position on eurusd at 12:30 GMT 15th jan..i don't care if they decide to left that profit or cut off..it's ok in both ways. I hope there isn't a delay for who has opened positions in 15th jan but in others cross than CHF.
myfxbook: neoxis
  • #3,614
  • Feb 3, 2015 9:32am Feb 3, 2015 9:32am
​Guys, it is going to be long certainly not days and weeks. Months. Look at all other broker collapses on this forum in the past. There are 2 groups: 1. Brokers in regulated markets such as US and UK, it took months to finish, but the customers received all or some of their funds back. 2. Unregulated brokers, one day they trading and answering calls, the next day everything is closed, no one answers phone calls and you know that you will never see your money again (look at the trader24.com recent thread on this forum). Whatever anyone here is saying about FCA, it is still a lot better than nothing. KPMG is acting on court orders, there are strict bankruptcy rules which have to be followed. If you have a positive balance with Alpari you will get your money back very likely in full.
Wookey
  • #3,615
  • Feb 3, 2015 9:58am Feb 3, 2015 9:58am
Quoting mojo123
{quote} From the "negative balance" view, would that be good or not? For positive guys obviously it is not good at all. Not from the UK, that's why am I asking....
​Negative balances unless they are very small quite unlikely to be forgiven in this circumstances. Of course traders will complain, but I do not see any case for them here. Unlike FXCM Alpari never promised to forgive negative balances and its risk disclosure contained phrase that you could lose more than your deposit. A broker can forgive clients with negative balances if it deems the funds unrecoverable or thinking that this would be a good marketing. Dukascopy did it out for these purposes, but as I understood its loss was not too great less than $2m. The administrator does not have rights to forgive, it must do efforts to recover the debt. So unless the regulator and court decide to play the nanny state, I do see it is going away. I believe KPMG will not go any further than sending few strongly worded mails, then the debt will be sold to collectors.
Wookey
  • #3,616
  • Feb 3, 2015 10:32am Feb 3, 2015 10:32am
Quoting wookey
{quote} ​Negative balances unless they are very small quite unlikely to be forgiven in this circumstances. Of course traders will complain, but I do not see any case for them here. Unlike FXCM Alpari never promised to forgive negative balances and its risk disclosure contained phrase that you could lose more than your deposit. A broker can forgive clients with negative balances if it deems the funds unrecoverable or thinking that this would be a good marketing. Dukascopy did it out for these purposes, but as I understood its loss was not too...
I agree with you, on all but the last one. Don't they have to go to court first, before selling the debt to collectors?
I can see them coming after people from the UK, even EU, but how on earth are they going to force those guys from Lebanon, that reportedly have done the most of the debt?
  • #3,617
  • Feb 3, 2015 10:48am Feb 3, 2015 10:48am
Quoting mojo123
{quote} I agree with you, on all but the last one. Don't they have to go to court first, before selling the debt to collectors? I can see them coming after people from the UK, even EU, but how on earth are they going to force those guys from Lebanon, that reportedly have done the most of the debt?
Even from lebanon bro they can reach them
Because they can stop any broker swift code on the market in case he did t pay he's debt
All brokers are regulated by the central bank of lebanon in case of insolvency
They are oblige to fulfill any duties for the external world or they will be dismiss from there swift code by BDL
  • #3,618
  • Feb 3, 2015 11:29am Feb 3, 2015 11:29am
First of all, we do not know for sure that Lebanese clients caused that damage. The only thing we know that there were a few Lebanese professional traders with substantial accounts trading through Alpari. With 1:500 leverage you can do a lot of damage on 2000 pips gap even with few thousand account. All we know that 9 account lost about $18m. So it is average $2m per account, that give roughly 100 standard lot position. With 1:500 leverage you needed only $25k to open such position. It would be stupid to leverage like that, but I know for sure that people did it.
Wookey
  • #3,619
  • Feb 3, 2015 11:42am Feb 3, 2015 11:42am
Quoting wookey
First of all, we do not know for sure that Lebanese clients caused that damage. The only thing we know that there were a few Lebanese professional traders with substantial accounts trading through Alpari. With 1:500 leverage you can do a lot of damage on 2000 pips gap even with few thousand account. All we know that 9 account lost about $18m. So it is average $2m per account, that give roughly 100 standard lot position. With 1:500 leverage you needed only $25k to open such position. It would be stupid to leverage like that, but I know for sure that...
Wow 😨😳 I do live in Lebanon but I ave no idea that I do have suck leverage offered by some broker
  • #3,620
  • Feb 3, 2015 12:22pm Feb 3, 2015 12:22pm
Quoting wookey
First of all, we do not know for sure that Lebanese clients caused that damage. The only thing we know that there were a few Lebanese professional traders with substantial accounts trading through Alpari. With 1:500 leverage you can do a lot of damage on 2000 pips gap even with few thousand account. All we know that 9 account lost about $18m. So it is average $2m per account, that give roughly 100 standard lot position. With 1:500 leverage you needed only $25k to open such position. It would be stupid to leverage like that, but I know for sure that...
Most of use should have already understood this...
Just that we believe a reputed broker like Alpari should have enough preventive measures to avoid huge loss like this...
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