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Alpari.co.uk Discussion

  • #4,061
  • Edited 2:13am Feb 11, 2015 12:25am | Edited 2:13am
Wookey,

tnx a lot for your detailed explanation. You just proved that forum can be useful for everybody to have a constructive conversation and not only a place where people argue over things.
I can understand where you coming from, but still it doesn't make sense that the clients should take all the responsibility. They had a full picture on what was going on and decided not to anything to minimize the damage.
I am not from Zimbabwe, I've lived everywhere in the past 10 years. Opened my account in the Middle East, living in another country now, originally from EU so I am not worried that KMPG can do a lot with that.
My intention is not to run away, but to see what can be done. I would like to settle this so everybody is happy. Obviously if I ignore their emails, they can sell my debt and I don't want that.
As per the UK laws, what is the best thing to do? To send an email that I don't agree with them?
  • #4,062
  • Feb 11, 2015 2:23am Feb 11, 2015 2:23am
Quoting KGP
Alpari UK insolvency update – LeapRate Exclusive conversation with KPMG By LeapRate Staff on Tuesday, 02.10.15 Alpari UK Special Administrator Samantha Bewick of KPMG speaks exclusively with LeapRate as to what work is being done behind the scenes. {image} LeapRate Exclusive… In response to the many comments on LeapRate article, as well as emails and calls we’ve received from (former) clients of Alpari UK, LeapRate has put together a formal petition...
I don't get it WHY can't they return the money first and THEN work on the sale of the assets unless they are thinking of including the client funds as sellable assets? It's not like people will be more willing to buy the company if the client funds is still there or maybe this is what they are aiming for? To lock the client funds there to lure the buyer? Could this be true?

http://forexmagnates.com/ironfx-pepp...-uks-business/
Make your losses in demo. Earn your profits live.
  • #4,063
  • Feb 11, 2015 3:42am Feb 11, 2015 3:42am
Quoting Forexia
{quote} I don't get it WHY can't they return the money first and THEN work on the sale of the assets unless they are thinking of including the client funds as sellable assets? It's not like people will be more willing to buy the company if the client funds is still there or maybe this is what they are aiming for? To lock the client funds there to lure the buyer? Could this be true? http://forexmagnates.com/ironfx-pepp...-uks-business/
well everything is a lies so far and rumors are everywhere
so we still don t know anything, even all the news on leaprate or forexmagnates
  • #4,064
  • Feb 11, 2015 3:46am Feb 11, 2015 3:46am
Quoting Forexia
{quote} I don't get it WHY can't they return the money first and THEN work on the sale of the assets unless they are thinking of including the client funds as sellable assets? It's not like people will be more willing to buy the company if the client funds is still there or maybe this is what they are aiming for? To lock the client funds there to lure the buyer? Could this be true? http://forexmagnates.com/ironfx-pepp...-uks-business/

Client funds are on sale. Administrators are trying to sell us now..before was not possible cause they tried to sell the whole company. Now they already said will try to sell everything including client funds.
So at the end of this journey i think we will have three possibilities.

Go with a new broker - take back money from kpmg - take back from FCA

the first one is not sure if there is no one buyer.

The second depends who has not problem with problematic loss/profit should to have the same statement than had before 15th jan so everyone of positive passive statement will take money from kpmg.

Third thing just for who lost something like profit o losses in balance or deposit with wrong trades or cancelled by alpari some of them can make a claim to FSCS.

I guess it will go like above.
myfxbook: neoxis
  • #4,065
  • Feb 11, 2015 5:14am Feb 11, 2015 5:14am
Quoting nAVIN2007
{quote} u are confusing me!! can someone plz set me straight..my account balance was 20k lets keep it simple i had floating position in the market which i held for around 2 months which -3.6k..alpari termineted the positions and my account took a beating for 3.6k will i get 20k or 16,400k? someone please clear this up..
16,400.
Was your equity. And Now 16.400$ is your balance to day.
  • #4,066
  • Edited 10:15am Feb 11, 2015 5:37am | Edited 10:15am
Quoting nAVIN2007
{quote} I do not think u are a very good trader u simply cannot understand that the reason we are here is because of alpari fullstop. Instead u are bringing in a lot of variables..in trading there are a million reasons why prices move..if u focus on them all u will never place a trade the variable apply to other brokers as well..alpari sunk!!..this mean they were not able to do something that other brokers could..they are at fault fullstop, u cannot deny this..yet u are trying..just keep it simple also alpari UK is looking for a buyer..yet the alpari...
All clients, of all brokers, who was long on eur/chf usd/chf..... have negative balance, if had more than 1:4 leverage. You understand that?
Who are guilty, traders,brokers or liqudity providers?
  • #4,067
  • Feb 11, 2015 5:47am Feb 11, 2015 5:47am
Quoting Forexia
{quote} I don't get it WHY can't they return the money first and THEN work on the sale of the assets unless they are thinking of including the client funds as sellable assets? It's not like people will be more willing to buy the company if the client funds is still there or maybe this is what they are aiming for? To lock the client funds there to lure the buyer? Could this be true? http://forexmagnates.com/ironfx-pepp...-uks-business/
Troll. If you don't understand anything , is your mistake.
  • #4,068
  • Feb 11, 2015 8:39am Feb 11, 2015 8:39am
Quoting Tim_isoara
{quote} 16,400. Was your equity. And Now 16.400$ is your balance to day.

So Tim i wanna ask you about my statement, i opened and closed a trade on eur/usd 15th jen 3 hours later of snb movement (so was already ended) and made 25€.

This is my last op. My balance and my equity is equal. i have 35057,28€ in balance and the same in my equity.

So what that mean? what statement i will have after 16th jan by kpmg? thanks for your help.
myfxbook: neoxis
  • #4,069
  • Feb 11, 2015 10:11am Feb 11, 2015 10:11am
@Neoxis
35057,28 Euro
  • #4,070
  • Feb 11, 2015 10:41am Feb 11, 2015 10:41am
Quoting Tim_isoara
@Neoxis 35057,28 Euro
I hope. The question is..they have money for pay profits? or just deposits? I think they can give us actually just deposits back.
myfxbook: neoxis
  • #4,071
  • Feb 11, 2015 11:10am Feb 11, 2015 11:10am
I really don't mind them discarding the positive numbers in the opening positions.
Just hope that the new broker taking over the accounts can let us trade and withdraw as usual ASAP.
  • #4,072
  • Feb 11, 2015 11:14am Feb 11, 2015 11:14am
Quoting neoxis
{quote} I hope. The question is..they have money for pay profits? or just deposits? I think they can give us actually just deposits back.
You mean initial deposits? No, I think what they meant is paying the balances at the time of downtime, discarding all winnings in the opening positions.
  • #4,073
  • Feb 11, 2015 11:37am Feb 11, 2015 11:37am
Quoting neoxis
{quote} I hope. The question is..they have money for pay profits? or just deposits? I think they can give us actually just deposits back.
You think wrong, about deposit.
No problem with money.Money is in accounts. You have 35057,28 euro
  • #4,074
  • Feb 11, 2015 12:02pm Feb 11, 2015 12:02pm
how should i sign the petition on leaprate?
anyone with the link?
thnx.
  • #4,075
  • Feb 11, 2015 12:18pm Feb 11, 2015 12:18pm
Quoting Jadgeha
{quote} well everything is a lies so far and rumors are everywhere so we still don t know anything, even all the news on leaprate or forexmagnates
leaprate and forexmagnet were playing with us a dirty game, just because they know we are interested
  • #4,076
  • Edited 1:48pm Feb 11, 2015 1:07pm | Edited 1:48pm
Quoting neoxis
{quote} Client funds are on sale. Administrators are trying to sell us now..before was not possible cause they tried to sell the whole company. Now they already said will try to sell everything including client funds.
BUT they CAN'T. Client funds is NOT part of recoverable assets for sale!! It's spelled out specifically in the client funds guidelines by the FCA. No I don't think they can sell it per se but they are just locking it so no one can get any money out. Right now this is the biggest and probably the only asset left of Alpari. The founder of Alpari has already bought the intellectual property and the brand and he's already launched a new brand called Forex Time with it in Cyprus.

http://forexmagnates.com/founder-of-...and-forextime/

A forex brokerage business is made up of three things: the idea which is the intellectual property, the name which is the brand and the money which is comprised of the assets aka client funds and the capital, what the owner has put in. Everything else is just debt and payables. The founder of Alpari has already bought out the idea and the name, the capital is already lost in this SNB debacle so the only thing left there is the client funds which they are locking it so it won't be lost.

But fret not, KPMG's received interest from *multiple* suitors to buy up the company. They are all just bidding their time and negotiating just like in the dating game. They all want the bitch; she's still got some assets, you know the client funds is still there (whether they will remain there once they take over is another question) just like the bitch's got some looks and skills now (whether they will remain there once you marry her is another question) but at the same time, she's got baggage aka the creditors, you know her mood swings, her troubled relationship with her father and etc. So they need to figure out whether she's worth it and for how much, basically to shoulder as little as of the baggage, the debt as possible for ALL the asset they can get their hands on, the client funds.

BUT they can't wait for too long IF they want to buy it. After all, it IS a great opportunity to expand to a lucrative market. BUT once KPMG has had it and starts to unlock the client funds then all the assets will be gone and all that's left will be just the debt just like if you wait for too long, the bitch is gonna get old and all her looks and skills, all her assets will be gone and all you have left is an old hag that is now bitter AND with still all the baggage. LOL

So for the traders, the money is NOT going anywhere. It's just a matter of time.
Make your losses in demo. Earn your profits live.
  • #4,077
  • Feb 11, 2015 1:18pm Feb 11, 2015 1:18pm
Quoting claudia1
{quote} Alpari is essentially Russian and they have announced global expansion plans and have started buying back bits of Alpari UK. Not doing that for fun.
Claudia
I have a different opinion
1. Clients with negative balance. Loss from this situation.
2.. Clients with positive balance. Actually, they can't trade. Is a loss.
3. Alpari uk have 3 shareholders( 1 Russian). All 3 loss from this situation.( about 20M)
4. The russian shareholder from Alpari UK is shareholder on Alpari group.
He bought the name and domain of Alpari UK. That is an expense.
But now Alpari has a bad reputation. He now must invest a lot of money in promotion, marketing to clean the Alpari name.
Thats a loss for all Alpari Group.

Claudia where is your thread?
  • #4,078
  • Feb 11, 2015 1:22pm Feb 11, 2015 1:22pm
Quoting Forexia
{quote} BUT they CAN'T. Client funds is NOT part of recoverable assets for sale!! It's spelled out specifically in the client funds guidelines by the FCA. No I don't think they can sell it per se but they are just locking it so no one can get any money out.
Yes they can.
Ive already pointed out that the FCA guidelines are riddled with conflicts.
The part you have highlighted does indeed exist. But there are many others you have failed to mention that when understood show why the funds cant be released until a sale has at least tried to be realized.
As I said before, the FCA has got this sewn up tighter than a ducks ass.
We are led to believe that certain things cant happen but the truth is the guidelines are so full of conflicting regulation that the guideline you posted means absolutely nothing.
  • #4,079
  • Feb 11, 2015 1:29pm Feb 11, 2015 1:29pm
Quoting mojo123
Wookey, tnx a lot for your detailed explanation. You just proved that forum can be useful for everybody to have a constructive conversation and not only a place where people argue over things. I can understand where you coming from, but still it doesn't make sense that the clients should take all the responsibility. They had a full picture on what was going on and decided not to anything to minimize the damage. I am not from Zimbabwe, I've lived everywhere in the past 10 years. Opened my account in the Middle East, living in another country now,...
Wait for the official balance confirmation from KPMG and then contact them. Saxo bank offers 20% haircut for those who pays early. I am not sure KPMG will offer such a deal, they will likely demand to pay the full amount at first. You can tell them that you do not have the money, do not have any assets in the EU and are not going to travel to the EU anytime soon ask them to offer you a better deal. You can contact your local collectors and ask them how much they would pay for your debt and that will be your floor. Offer KPMG somewhat above it and I am sure they will seriously think about it.
Wookey
  • #4,080
  • Feb 11, 2015 1:42pm Feb 11, 2015 1:42pm
Quoting jizzyjay
{quote} Yes they can. Ive already pointed out that the FCA guidelines are riddled with conflicts. The part you have highlighted does indeed exist. But there are many others you have failed to mention that when understood show why the funds cant be released until a sale has at least tried to be realized. As I said before, the FCA has got this sewn up tighter than a ducks ass. We are led to believe that certain things cant happen but the truth is the guidelines are so full of conflicting regulation that the guideline you posted means absolutely nothing....
​Actually they cannot, unless it is a sale of the whole company. They have already told that if there is a buyer for clients accounts the clients will be given a choice to accept the move or decline and receive the money directly from the liquidator. Usually the buyer offers better deal for clients, anyway. It is not FCA regulation it is a standard bankruptcy procedure.
Wookey
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