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  • #5,261
  • Mar 17, 2015 9:36am Mar 17, 2015 9:36am
Hey guys, I am really glad we are all going to get our money back. It took a while, but who cares.... I got access to the claims portal last night. I am not calling victory yet, however it seems like the system is not going to fail us. Please do keep in mind a couple of things

1. If you decide to continue in the forex market make sure the amount of money you use to fund your account is the minimun you need for your strategy.
2. Do not forget what happen with the snb announcement. It is possible to lose all your money and even owe money to your broker. (Not because of your lack of trading skills, but because of pure luck.... like people in chf trades that day)
3. Forex is about probabilities and putting the odds on your favour, not really a casino. If you cannot control yourself, stay away from forex... find another way to invest your hard earn money.
4. Once you get your money back dont go back to trading, trying to make all the money you could have made in the last couple of weeks, that is revenge trading, be careful, the market will take your money.
5. As soon as you get your money back, give yourself some time to think about this forex endeavour of yours, is it really what you want to do, can you take the heat...

I am just a retial trader like the rest of you, and i love trading, but is hard, what we have gone through is a great experiences take advantage of it..
Take care,
  • #5,262
  • Mar 17, 2015 9:47am Mar 17, 2015 9:47am
Quoting default
Hey guys, I am really glad we are all going to get our money back. It took a while, but who cares.... I got access to the claims portal last night. I am not calling victory yet, however it seems like the system is not going to fail us. Please do keep in mind a couple of things 1. If you decide to continue in the forex market make .......
1. I agree with U
2. I agree with U
3. I agree with U
4. If you trade all the time, than I disagree with waiting...but I do agree with "revenge trading", because it is driven by emotions which is bad 4 fx
5. I disagree. This is something that you should really know by now!!!
Per aspera ad astra
  • #5,263
  • Mar 17, 2015 9:48am Mar 17, 2015 9:48am
Quoting default
Hey guys, I am really glad we are all going to get our money back. It took a while, but who cares.... I got access to the claims portal last night. I am not calling victory yet, however it seems like the system is not going to fail us. Please do keep in mind a couple of things 1. If you decide to continue in the forex market make sure the amount of money you use to fund your account is the minimun you need for your strategy. 2. Do not forget what happen with the snb announcement. It is possible to lose all your money and even owe money to your broker....
I'm all with you and for sure no one more put all their earnings inside. But was not our fault. So if we not lost money in trading we should continue just with few can we lose it.
myfxbook: neoxis
  • #5,264
  • Mar 17, 2015 10:07am Mar 17, 2015 10:07am
Quoting magicpips
hi It's been a while so very quick update, just talked with FSCS , apparently the payments for the clients will be started within couple of weeks ,they said wont take months.
FANTASTIC !!
Never Ever Give Up!
  • #5,265
  • Mar 17, 2015 10:18am Mar 17, 2015 10:18am
Quoting magicpips
hi It's been a while so very quick update, just talked with FSCS , apparently the payments for the clients will be started within couple of weeks ,they said wont take months.
strange, i called them 2hours ago aswell and they said weeks is unlikely, the women said rather 3-6months....also they are not sure yet which currency they will pay out to.
  • #5,266
  • Mar 17, 2015 10:43am Mar 17, 2015 10:43am
Quoting missluna1982
{quote} strange, i called them 2hours ago aswell and they said weeks is unlikely, the women said rather 3-6months....also they are not sure yet which currency they will pay out to.
Leaprate said two weeks too..so i don't know who believe.
myfxbook: neoxis
  • #5,267
  • Mar 17, 2015 11:20am Mar 17, 2015 11:20am
update for who has negative balances, KPMG will start to collect money from them.
myfxbook: neoxis
  • #5,268
  • Mar 17, 2015 11:57am Mar 17, 2015 11:57am
OKay, so choosing FSCS was right.
  • #5,269
  • Mar 17, 2015 12:26pm Mar 17, 2015 12:26pm
Quoting ppc123
OKay, so choosing FSCS was right.
I'm talking about negative with less than 0 money in balance so they have a debt with alpari uk
myfxbook: neoxis
  • #5,270
  • Mar 17, 2015 12:35pm Mar 17, 2015 12:35pm
Quoting neoxis
update for who has negative balances, KPMG will start to collect money from them.
It is funny, they said they will start contact people with negative balance but that excludes anyone that had CHF positions open... That means, they had clients with negative balances prior to the crash I suppose.. Because anyone that turned negative after the crash surely had CHF positions.
  • #5,271
  • Mar 17, 2015 12:38pm Mar 17, 2015 12:38pm
yeah it sound like kidding us lol
myfxbook: neoxis
  • #5,272
  • Mar 17, 2015 1:45pm Mar 17, 2015 1:45pm
Hey guys, could anyone help me out in this regard. In the first week of jan, I had deposited $100k with Alpari. As on 16th jan, my account equity is approx $110k. Now which route do I take to get my full money back? I know that FSCS doesn't pay back more than £50k which is approximately $74k. Also if I take the KPMG route, the Alpari helpline says, that they are not yet sure of I'll get my full money back. They are asking me to take advise from independent professionals. Basically the helpline doesn't help. Could anyone help me out with this?
  • #5,273
  • Mar 17, 2015 1:59pm Mar 17, 2015 1:59pm
Quoting Voipey
Hey guys, could anyone help me out in this regard. In the first week of jan, I had deposited $100k with Alpari. As on 16th jan, my account equity is approx $110k. Now which route do I take to get my full money back? I know that FSCS doesn't pay back more than 50k which is approximately $74k. Also if I take the KPMG route, the Alpari helpline says, that they are not yet sure of I'll get my full money back. They are asking me to take advise from independent professionals. Basically the helpline doesn't help. Could anyone help me out with this?
Don't worry go with FSCS you will take 50k gbp first and up any further dividends from your total claim. So 1 you will take 50k. 2 later when kpmg end the investigation and any verify will pass any dividends to FSCS about your case and FSCS will pay you back. And yes it's likely you will lose something cause there are some fee about this mess to pay to kpmg. But i think you will likely take over 90% of your deposit with fscs.
myfxbook: neoxis
  • #5,274
  • Mar 17, 2015 2:02pm Mar 17, 2015 2:02pm
Quote
Just another update from me. My balance was ok 92K Euro, still haven't claimed my wife's account which is sub 50K. I have also decided to claim via the FSCS.

Finally, I have spoken to the FSCS and they told me that they have not yet decided in what currency they would be paying the funds. I am a bit puzzled about this, since really I would not want to receive Euros, but rather take the 107 USD they were offering. Does anyone know what happens if they decide to pay in Euros? Would this mean that they pay based on today's dollars or simply take my...

Madsuh, why did you go with FSCS with so much euros? What was your logic? What information did you get from KPMG and FSCS to make you go this route?
  • #5,275
  • Mar 17, 2015 2:04pm Mar 17, 2015 2:04pm
Quoting m1nich
{quote} Madsuh, why did you go with FSCS with so much euros? What was your logic? What information did you get from KPMG and FSCS to make you go this route?
read above my reply.
myfxbook: neoxis
  • #5,276
  • Mar 17, 2015 2:39pm Mar 17, 2015 2:39pm
  •  chisi
  • | Joined Dec 2014 | Status: Consistency leads to mastery | 53 Posts
Quoting default
Hey guys, I am really glad we are all going to get our money back. It took a while, but who cares.... I got access to the claims portal last night. I am not calling victory yet, however it seems like the system is not going to fail us. Please do keep in mind a couple of things 1. If you decide to continue in the forex market make sure the amount of money you use to fund your account is the minimun you need for your strategy. 2. Do not forget what happen with the snb announcement. It is possible to lose all your money and even owe money to your broker....
Kind of discouraging and fear filled statement..
Experiments All Time Return: -29.8%
  • #5,277
  • Mar 17, 2015 3:52pm Mar 17, 2015 3:52pm
KPMG Opts for GBP Uniformity
Contrary to an earlier report by KPMG whereby Joint Special Administrators stipulated a requirement to hold the pool in a single currency, given the uniformity of the USD across Alpari UK’s client funds and claims, the latest update will see all account balances converted to GBP at the official exchange rate.
- See more at: http://forexmagnates.com/kpmg-disbur....9TzJiNJn.dpuf

they are fuckin idiots??? they change idea everytime??? really not professional.
myfxbook: neoxis
  • #5,278
  • Mar 17, 2015 4:05pm Mar 17, 2015 4:05pm
Quote
Madsuh: Just another update from me. My balance was ok 92K Euro, still haven't claimed my wife's account which is sub 50K. I have also decided to claim via the FSCS.
Finally, I have spoken to the FSCS and they told me that they have not yet decided in what currency they would be paying the funds. I am a bit puzzled about this, since really I would not want to receive Euros, but rather take the 107 USD they were offering. Does anyone know what happens if they decide to pay in Euros? Would this mean that they pay based on today's dollars or simply...
Quote
m1nich:Madsuh, why did you go with FSCS with so much euros? What was your logic? What information did you get from KPMG and FSCS to make you go this route?
Quote
neoxison't worry go with FSCS you will take 50k gbp first and up any further dividends from your total claim. So 1 you will take 50k. 2 later when kpmg end the investigation and any verify will pass any dividends to FSCS about your case and FSCS will pay you back. And yes it's likely you will lose something cause there are some fee about this mess to pay to kpmg. But i think you will likely take over 90% of your deposit with fscs..

yes 1) is clear - 50,000 GBP from FSCS. And 2) seems clear. BGut what is the logic for
Quote
But i think you will likely take over 90% of your deposit with fscs.
? Will FSCS have same, greater or even less sway than KPMG on dividend calculation? Will it be identical? Will KPMG pay out later? Is there any advantage for anyone to choose KPMG? If not, then why is KPMG route even suggested?
  • #5,279
  • Mar 17, 2015 4:07pm Mar 17, 2015 4:07pm
Quoting neoxis
KPMG Opts for GBP Uniformity Contrary to an earlier report by KPMG whereby Joint Special Administrators stipulated a requirement to hold the pool in a single currency, given the uniformity of the USD across Alpari UKs client funds and claims, the latest update will see all account balances converted to GBP at the official exchange rate. - See more at: http://forexmagnates.com/kpmg-disbur....9TzJiNJn.dpuf...

they dont change... you should read the conflict i had with Tim_isoara regarding this issue because initially i was certain (later was puzzled) that this is probably going to take place.

who was correct or not is not the point now (i was... lol) but the issue is that no matter how the conversion takes place we (the clients) end up, based on the current prices earning a little bit more.

we would be better of course if we had the final payment made in USD... but at least we get our funds back as a whole and even a little bit more... and thats what is "wanted".

now i just hope the final payment is made in order to have a "closure"
  • #5,280
  • Mar 17, 2015 4:10pm Mar 17, 2015 4:10pm
Quoting KGP
{quote} they dont change... you should read the conflict i had with Tim_isoara regarding this issue because initially i was certain (later was puzzled) that this is probably going to take place. who was correct or not is not the point now (i was... lol) but the issue is that no matter how the conversion takes place we (the clients) end up, based on the current prices earning a little bit more. we would be better of course if we had the final payment made in USD... but at least we get our funds...
I earn even if made via GBP. So i'm good for now.
myfxbook: neoxis
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