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Alpari.co.uk Discussion

  • #3,641
  • Feb 4, 2015 6:23am Feb 4, 2015 6:23am
Quoting Perverius
{quote} Actually I'm, cause I did open account with them and didn't make deposit yet.
becareful bro, stay out for the next month cause it seems to much broker will collapse


Quoting ewinner
{quote} I do believe still the positive accounts will be sold to another broker... that would certainly be the best outcome for us, otherwise it could drag on weeks/months
i want this today before tomorrow
  • #3,642
  • Feb 4, 2015 6:31am Feb 4, 2015 6:31am
i would like to ask something...In case than kpmg say to us we can withdrawal just in base of a pro-rata only 60-70% of ours funds..we have rights for take back the last 30% from FSCS?.
And you think the losses of those 9 customers are inside this kind of PRO-RATA? if will be like this 100 mln - 36 mln we will take back about 64% of our deposits i just wanna be sure than we can take back the difference from fscs compensation.
myfxbook: neoxis
  • #3,643
  • Feb 4, 2015 6:46am Feb 4, 2015 6:46am
http://www.fscs.org.uk/news/2015/jan...j16/index.html

news updated guys, does not sound good in my opinion as alpari decalered default on FSCS website
thanks
  • #3,644
  • Feb 4, 2015 6:50am Feb 4, 2015 6:50am
Quoting neoxis
i would like to ask something...In case than kpmg say to us we can withdrawal just in base of a pro-rata only 60-70% of ours funds..we have rights for take back the last 30% from FSCS?. And you think the losses of those 9 customers are inside this kind of PRO-RATA? if will be like this 100 mln - 36 mln we will take back about 64% of our deposits i just wanna be sure than we can take back the difference from fscs compensation.
​It is purely theoretical as I do not think it will happen in this case, but yes. If there is no buyer for the positive clients then you get your money on pro-rata basis from the segregated account, then if there is not enough you join with all other creditors to divide the rest of Alpari assets again on pro-rata basis but now with everyone else including $8.8 million for Citi. If there is still not enough after everything is finished with Alpari you can as a retail client top up to £50k from FSCS.
Wookey
  • #3,645
  • Feb 4, 2015 6:50am Feb 4, 2015 6:50am
Quoting magicpips
http://www.fscs.org.uk/news/2015/jan...j16/index.html news updated guys, does not sound good in my opinion as alpari decalered default on FSCS website thanks
I don't understand, if is segregate, how can they touch our accounts...
  • #3,646
  • Feb 4, 2015 6:58am Feb 4, 2015 6:58am
Quoting magicpips
http://www.fscs.org.uk/news/2015/jan...j16/index.html news updated guys, does not sound good in my opinion as alpari decalered default on FSCS website thanks
It's old.
myfxbook: neoxis
  • #3,647
  • Feb 4, 2015 7:05am Feb 4, 2015 7:05am
Quoting magicpips
http://www.fscs.org.uk/news/2015/jan...j16/index.html news updated guys, does not sound good in my opinion as alpari decalered default on FSCS website thanks
once they declared insolvant and they place the company in KPMG to sell it ( in other term to liquidate it )
it s all ready in default
  • #3,648
  • Feb 4, 2015 7:07am Feb 4, 2015 7:07am
Quoting neoxis
{quote} It's old.
Not old.It has been uipdated today with a few more lines making it even more likely fscs might get involved and that might
cause a further delay.
  • #3,649
  • Feb 4, 2015 7:20am Feb 4, 2015 7:20am
Quoting shail31
{quote} Not old.It has been uipdated today with a few more lines making it even more likely fscs might get involved and that might cause a further delay.
I check the website everyday and this is new information.
Last week when u did a company search whether it is in default or not Alpari UK was not coming up but this week they put the company search section Alpari UK as in default.
  • #3,650
  • Feb 4, 2015 7:20am Feb 4, 2015 7:20am
Quoting shail31
{quote} Not old.It has been uipdated today with a few more lines making it even more likely fscs might get involved and that might cause a further delay.
it's old i saw that message 20 jan. Nothing special. They just declared they are looking and waiting for a response from kpmg for further updates.
myfxbook: neoxis
  • #3,651
  • Feb 4, 2015 7:21am Feb 4, 2015 7:21am
Quoting magicpips
{quote} I check the website everyday and this is new information. Last week when u did a company search whether it is in default or not Alpari UK was not coming up but this week they put the company search section Alpari UK as in default.
yeah that's right about searching the company me too i didn't saw alpari in the company list so that's true. But the news is old. So basically nothing new.
myfxbook: neoxis
  • #3,652
  • Feb 4, 2015 7:24am Feb 4, 2015 7:24am
Quoting wookey
{quote} ​Alpari management and risk managemement is undoubtely failed big time. ....
And that's exactly why they shouldn't get away with claiming "Force Majeure" as excuse or reason why they had to shut down (as i pointed out earlier here).

Because if they would, it would simply mean it wasn't their fault and they are not liable for losses we have inccured because they have closed our open trades etc.

I still beleive all former Alpari UK retail clients should unite to be able to speak up with one voice against the Special Administrators, FCA, FCS etc.

Because i'm afraid that if we let them single us out from the herd, we (and our funds) might end like sheeps to wolves (or hammel to the slaughter ...lol)

Perhaps Forex Factory can help setting up some special protected area or non-public sub-forum for us to get together and discuss our options more seriously (instead of just complaining).

Or if someone is amongst us who is able and willing to host a blog, we could build our own "portal" and draw some public attention towards our case via publishing, social media etc?

Makes sense?
  • #3,653
  • Feb 4, 2015 7:43am Feb 4, 2015 7:43am
Quoting Mystique
{quote} Or if someone is amongst us who is able and willing to host a blog, we could build our own "portal" and draw some public attention towards our case via publishing, social media etc? Makes sense?
I could help with that.. ill PM you later, got to go out right now
  • #3,654
  • Feb 4, 2015 7:54am Feb 4, 2015 7:54am
Quoting ewinner
{quote} I could help with that.. ill PM you later, got to go out right now
i agree
  • #3,655
  • Feb 4, 2015 8:22am Feb 4, 2015 8:22am
@Mystique.

i was suggesting that too. we should get a lawyer and get expert advise on how to put pressure on them. I'm London based. lets organize. I cant afford to wait months or years to get my money back.
  • #3,656
  • Feb 4, 2015 8:41am Feb 4, 2015 8:41am
Ok.here is some official kpmg position at the moment,

The following information may assist you to understand the context in which your trades were closed.

· In relation to your stop loss orders, at certain stages during Thursday 15 and Friday 16 January, there was little or no liquidity in the market for certain products. As a result, it was not possible for all trades to be closed immediately once a stop loss order was triggered. In those cases, clients' trades were therefore closed out at the next possible opportunity. This is commonly referred to as 'negative slippage'. The fact that negative slippage may occur in relation to stop loss orders is expressly recognised in clause 8 of the Client Agreement.

· In relation to your trade that was closed out on Friday 16 January, on that day, all open positions were closed out as Alpari considered that, due to the unprecedented Swiss Central Bank announcement, and its impact on the market and Alpari's position, there was a Force Majeure Event pursuant to clause 29 of the Client Agreement.

So all trades closed on 16th is being considered as Force Majeure.

  • #3,657
  • Feb 4, 2015 8:51am Feb 4, 2015 8:51am
Quoting missluna1982
@Mystique. i was suggesting that too. we should get a lawyer and get expert advise on how to put pressure on them. I'm London based. lets organize. I cant afford to wait months or years to get my money back.
If we need to put some money all together for take a lawyer i will join surely.
myfxbook: neoxis
  • #3,658
  • Feb 4, 2015 9:42am Feb 4, 2015 9:42am
Quoting shail31
Ok.here is some official kpmg position at the moment, The following information may assist you to understand the context in which your trades were closed. · In relation to your stop loss orders, at certain stages during Thursday 15 and Friday 16 January, there was little or no liquidity in the market for certain products. As a result, it was not possible for all trades to be closed immediately once a stop loss order was triggered. In those cases, clients' trades were therefore closed out at the next possible opportunity. This is commonly referred...
Where did you get that position from KPMG?
  • #3,659
  • Feb 4, 2015 9:48am Feb 4, 2015 9:48am
Quoting papamax
{quote} Where did you get that position from KPMG?
email.
  • #3,660
  • Feb 4, 2015 9:56am Feb 4, 2015 9:56am
Quoting buddy1
Pepperstone has $14 million missing from its client trust accounts, im sure they will be next to collapse. See below Taking Pepperstone with a grain of salt THE AUSTRALIAN JANUARY 31, 2015 12:00AM Foreign exchange trading has always had the thrill factor. Source: AFP FOREIGN exchange trading has always had the thrill factor. Large amounts of money are won and lost in the blink of an eye, as the Swiss currency debacle graphically illustrated earlier this month. Yet despite the risks, foreign exchange...
They are done for.
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