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Alpari.co.uk Discussion

  • #4,101
  • Feb 12, 2015 2:53am Feb 12, 2015 2:53am
Is there any AlpariDirect, AlpariDirect Pro, or MT4/MT5 Pro user? I am still confused by the question that are we "retail client" or "professional client".
I read the FAQs and User Agreements and still have not a clear answer.
  • #4,102
  • Feb 12, 2015 3:17am Feb 12, 2015 3:17am
Quoting mmx007
Is there any AlpariDirect, AlpariDirect Pro, or MT4/MT5 Pro user? I am still confused by the question that are we "retail client" or "professional client". I read the FAQs and User Agreements and still have not a clear answer.
Because you ask. You are a retail trader.
You are regulated?
  • #4,103
  • Feb 12, 2015 3:18am Feb 12, 2015 3:18am
Check out page 15 of this pdf KPMG "Joint Administrators’ charging and disbursements policy" hour rates for "AAA Linen Services Limited".

From 01 Oct 2014 £/hr.
Partner - 595
Director - 535
Senior Manager - 485
Manager - 405
Senior Administrator - 280
Administrator - 205
Support - 125

https://www.insolvency-kpmg.co.uk/Vi...0-690924250ffd
  • #4,104
  • Feb 12, 2015 3:30am Feb 12, 2015 3:30am
Quoting Tim_isoara
{quote} Because you ask. You are a retail trader. You are regulated?
I am sorry, but what does "You are regulated" mean? My English is not very well.

I am not regulated by anybody. I am just a single individual trader.
  • #4,105
  • Feb 12, 2015 3:36am Feb 12, 2015 3:36am
Quoting mmx007
{quote} I am sorry, but what does "You are regulated" mean? My English is not very well. I am not regulated by anybody. I am just a single individual trader.
A professional trader is regulated.
You are retail trader.
  • #4,106
  • Feb 12, 2015 3:45am Feb 12, 2015 3:45am
Thank you very much. I love this answer. But KPMG seems not give a clear classification between Retail clients and Professional clients. They just said "depend on the account documentation established between the Company and client. " I checked my document submitted, the Nature of account is "Personal", and the account type is "Pro", (I register Pro only because I want to use AlpariDirect), and the user agreement seems does not say anything if I am a retail or professional. This is a potential question in my opinion.
  • #4,107
  • Feb 12, 2015 3:53am Feb 12, 2015 3:53am
More in the user agreement.

6.1 Where the Customer is a Retail Client....
...
6.8 Where the Customer is a Professional Client...

So the question is, what does "Professional Client" in User Agreement mean? The account type of "Pro"? If so, it looks much like a trap because the "Pro" account have many advantages and the minimum deposit is only 10,000 USD.
  • #4,108
  • Feb 12, 2015 3:54am Feb 12, 2015 3:54am
Quoting mmx007
Thank you very much. I love this answer. But KPMG seems not give a clear classification between Retail clients and Professional clients. They just said "depend on the account documentation established between the Company and client. " I checked my document submitted, the Nature of account is "Personal", and the account type is "Pro", (I register Pro only because I want to use AlpariDirect), and the user agreement seems does not say anything if I am a retail or professional. This is a potential question in my opinion.
A professional trader can open an personal account( retail trader).
A retail trader cant open an professional account, additional acts are required.
  • #4,109
  • Feb 12, 2015 4:00am Feb 12, 2015 4:00am
Now in the FAQs from KPMG:

Retail clients are primarily private individuals holding trading accounts with the Company... Yes.

Professional clients are individuals or entities that are considered to possess the experience, knowledge and expertise to make their own investment decisions and assess the risks inherent in those decisions... seems to be "Yes" too

So confused!
  • #4,110
  • Feb 12, 2015 4:09am Feb 12, 2015 4:09am
Quoting Tim_isoara
{quote} A professional trader can open an personal account( retail trader). A retail trader cant open an professional account, additional acts are required.
I don't know this. I know I can open MT4 sub account, but in my own name. There must be many people opened "Pro" account. But people seem to ignore this.
  • #4,111
  • Feb 12, 2015 4:16am Feb 12, 2015 4:16am
I have the response from KPMG, I am very glad of the quick response. Thanks to KPMG, I believe them!

Dear Sir/Madam
Alpari (UK) Limited (in special administration) (the "Company")
I can confirm that you classified as a retail client of the Company, for further information on classification please read the document “Frequently Asked Questions (updated 9 February)” on the our website, www.kpmg.com/uk/alpari.
Please note that the Updates to Clients and Creditors on the website has also recently been updated.
As previously advised, all updates will be provided via the Joint Special Administrators’ website; please therefore continue to monitor this website regularly.
Kind regards,
for Alpari (UK) Limited

Hirra Naeem
For the Joint Special Administrators
  • #4,112
  • Feb 12, 2015 6:27am Feb 12, 2015 6:27am
Quoting mmx007
I have the response from KPMG, I am very glad of the quick response. Thanks to KPMG, I believe them! Dear Sir/Madam Alpari (UK) Limited (in special administration) (the "Company") I can confirm that you classified as a retail client of the Company, for further information on classification please read the document Frequently Asked Questions (updated 9 February) on the our website, www.kpmg.com/uk/alpari. Please note that the Updates to Clients and Creditors on the website has also recently been updated....
Wow they answered you? you are lucky man.
myfxbook: neoxis
  • #4,113
  • Feb 12, 2015 6:32am Feb 12, 2015 6:32am
Quoting Tim_isoara
{quote} A professional trader is regulated. You are retail trader.
No a professional trader is not regulated ffs.... there are 3 requirements in order for one to be qualified as a professional trader under the MiFID.
  • #4,114
  • Feb 12, 2015 6:45am Feb 12, 2015 6:45am
Quoting plotinus82
{quote} No a professional trader is not regulated ffs.... there are 3 requirements in order for one to be qualified as a professional trader under the MiFID.
Can a trader manage money if is not regulated? under MIFID
  • #4,115
  • Feb 12, 2015 6:46am Feb 12, 2015 6:46am
Quoting mmx007
I have the response from KPMG, I am very glad of the quick response. Thanks to KPMG, I believe them!
Sorry to bother you.
  • #4,116
  • Feb 12, 2015 6:50am Feb 12, 2015 6:50am
Quoting Tim_isoara
{quote} Can a trader manage money if is not regulated? under MIFID
if through a managed account then you dont have to be regulated, in a fund structure, yes.
  • #4,117
  • Feb 12, 2015 7:18am Feb 12, 2015 7:18am
Quoting plotinus82
{quote} if through a managed account then you dont have to be regulated, in a fund structure, yes.
You asked then you deleted. I manage, a MAM account.
  • #4,118
  • Feb 12, 2015 9:44am Feb 12, 2015 9:44am
Uhmm... Just realised there's a new Alpari website running like nothing happened here?

https://alpari-forex.com/


Can anyone say something about this? I still have my money hidden somewhere in their offices :S
  • #4,119
  • Feb 12, 2015 10:42am Feb 12, 2015 10:42am
Quoting Tim_isoara
{quote} 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...
Hi Tim got your pm. Respect your opinion and not going to argue hope you all come out ok.

My thread? Lol just had enough think it had gone far enough. Billy has started a thread up if you haven't already seen it. Good luck.
  • #4,120
  • Feb 12, 2015 11:00am Feb 12, 2015 11:00am
Quoting Tim_isoara
{quote} You asked then you deleted. I manage, a MAM account.
MAN acc no, you can run money through a MAN acc without issue
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