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  • #5,441
  • Mar 26, 2015 9:27am Mar 26, 2015 9:27am
Well, it is nice to finally see some progress but the etxcapital spreads are way too high for me .. I'm looking to open an account with Lmax instead.
  • #5,442
  • Mar 26, 2015 9:40am Mar 26, 2015 9:40am
Administrators KPMG have now struck a deal with ETX over Alpari UK’s 160,000 clients, accounting for $100 million (£66.7 million) in funds.
ETX is expected to pay at least $3 million although if it claims a high number of Alpari’s former clients it could end up paying more than $10 million.
myfxbook: neoxis
  • #5,443
  • Mar 26, 2015 9:52am Mar 26, 2015 9:52am
Quoting fido
Well, it is nice to finally see some progress but the etxcapital spreads are way too high for me .. I'm looking to open an account with Lmax instead.
Looking at the indicative spreads they have on their site it seems to be smaller than the spreads alpari used to provide.
  • #5,444
  • Mar 26, 2015 9:55am Mar 26, 2015 9:55am
Quoting neoxis
Administrators KPMG have now struck a deal with ETX over Alpari UKs 160,000 clients, accounting for $100 million (66.7 million) in funds. ETX is expected to pay at least $3 million although if it claims a high number of Alparis former clients it could end up paying more than $10 million.
I didn't quite understand if we have to wait for an email approval from ETX Capital,
or I can register a new account ETX Capital
  • #5,445
  • Mar 26, 2015 9:58am Mar 26, 2015 9:58am
And go
http://cdn.monecor.com/ETX-F5/pdf/we...urceVersion=52
  • #5,446
  • Mar 26, 2015 9:59am Mar 26, 2015 9:59am
I'm not really impressed .. unless there is no commission of course

"Tight Spreads
If you’re looking for low spreads – some of the most competitively low spreads in the industry, in fact – then look no further than ETX TraderPro; for example, the platform’s variable spreads for Forex start from as low as 0.7 pips for EuroDollar and 0.9 pips for GBP/USD."
  • #5,447
  • Edited 10:31am Mar 26, 2015 10:15am | Edited 10:31am
I just phoned ETX Capital to get some info.
I was told I would get an email by monday from ETX with regard to transferring over to them if I choose to do so.
I was also given the following link containing F.A.Q's.

http://www.etxcapital.co.uk/landing/welcome-alpari-clients/faq/

It seems as though they will set you up an account then its your choice whether to use it or not.
Personally they were one of the brokers I would of chose anyway so its good news for me.
  • #5,448
  • Mar 26, 2015 10:22am Mar 26, 2015 10:22am
but they do not have MT5
Per aspera ad astra
  • #5,449
  • Mar 26, 2015 10:27am Mar 26, 2015 10:27am
Quoting fido
I'm not really impressed .. unless there is no commission of course "Tight Spreads If youre looking for low spreads some of the most competitively low spreads in the industry, in fact then look no further than ETX TraderPro; for example, the platforms variable spreads for Forex start from as low as 0.7 pips for EuroDollar and 0.9 pips for GBP/USD."

Yes, I assume they don't have commission as I couldn't find anything about it on the site... If commission is involved then the spreads are not great, i agree!
  • #5,450
  • Mar 26, 2015 10:29am Mar 26, 2015 10:29am
Quoting jizzyjay
I just phoned ETX Capital to get some info. I was told I would get an email by monday from ETX with regard to transferring over to them if I choose to do so. I was also given the following link containing F.A.Q's. http://www.uat.etxcapital.co.uk/land...i-clients/faq/ It seems as though they will set you up an account then its your choice whether to use it or not. Personally they were one of the brokers I would of chose anyway so its good news for me.
THat link doesn't work for me... tried in different browsers! Could you post the FAQs here, please?

THanks
  • #5,451
  • Mar 26, 2015 10:33am Mar 26, 2015 10:33am
Quoting papamax
{quote} THat link doesn't work for me... tried in different browsers! Could you post the FAQs here, please? THanks
Sorry made an error.

http://www.etxcapital.co.uk/landing/...i-clients/faq/

That should work now.
  • #5,452
  • Edited 11:43am Mar 26, 2015 10:43am | Edited 11:43am
I traded with ETXCAPITAL for 2 years, I left them not because of anything they were doing wrong, but that I wanted a change.

They are a very good broker and importantly honest, I know many of you would be happy with them.

Still not sure if I will make the switch though, since I have opened up accounts elsewhere.

Edit - I had a chf trade open, offer might not apply to me
  • #5,453
  • Mar 26, 2015 10:43am Mar 26, 2015 10:43am
Thanks...

I wonder what is going to happen with Alpari clients that had CHF positions open... I hope they stand by the closing prices regardless if that meant loss for some and profit for others... If they start adjusting these closing prices they can open a HUGE pandora box.

Another possible theory is that they were using the CHF trades as an excuse to hold back the whole payout process for all clients so they could close this SALE.
  • #5,454
  • Mar 26, 2015 10:44am Mar 26, 2015 10:44am
Quoting jizzyjay
{quote} Sorry made an error. http://www.etxcapital.co.uk/landing/...i-clients/faq/ That should work now.
Do you have any special offers fo Alpari Clients?


"We do have promotions available for new clients, for further information on this please contact one of our dedicated client Support team by phone 0800 138 4582, by email [email protected] or on twitter @ETXCustomerCare"

Be interesting to know what the special offer is is.
  • #5,455
  • Mar 26, 2015 10:44am Mar 26, 2015 10:44am
Quoting pauljred
{quote} Do you have any special offers fo Alpari Clients? "We do have promotions available for new clients, for further information on this please contact one of our dedicated client Support team by phone 0800 138 4582, by email [email protected] ("[email protected]") or on twitter @ETXCustomerCare" Be interesting to know what the special offer is is.
Call them and ask then.. they will be happy to help
  • #5,456
  • Mar 26, 2015 11:07am Mar 26, 2015 11:07am
just woke up and as usual came here to check if there is anything new...

i am glad that my information were correct (that a deal for the client list was undergoing with other brokers).


now from what i understand KPMG is acting just like an IB so the more clients move to ETX with certain criteria the better for the company KPMG has under administration.

my personal belief is that we are not going to be restricted as to when and how many of our funds are going to "remove" from ETX but its going to be a problem for KPMG/Alpari as they are going to miss commissions from clients "referred" not having met those conditions.

anyway who cares?

the issue is lets have the process going on pretty quick in order to get things rolling!
  • #5,457
  • Mar 26, 2015 11:36am Mar 26, 2015 11:36am
for all questions: http://www.uat.etxcapital.co.uk/land...i-clients/faq/
myfxbook: neoxis
  • #5,458
  • Mar 26, 2015 11:42am Mar 26, 2015 11:42am
Someone of you received the email from etx capital? thanks if yes post in here.
myfxbook: neoxis
  • #5,459
  • Mar 26, 2015 11:51am Mar 26, 2015 11:51am
Sorry people, but to me it does not look like this deal would make us get to your funds faster.
In best case they will give you a "credit" for the amount that is equivalent to your claim and you will be able to trade it only. Money will be available for withdraws when you would have it from KPMG or FSCS anyway.


I guess I was wrong, on CNBC there is EXT rep in studio and he is saying that they will help customers to get their money faster and they will let clients withdraw their money if they want.
  • #5,460
  • Mar 26, 2015 11:54am Mar 26, 2015 11:54am
I'm not sure that this development makes much practical difference to most of us.

It looks like we'll be given the option of transferring into ETX any funds we'd have been due from KPMG or the FSCS. There's nothing to suggest that ETX's involvement will make any difference to the amount that will be paid out to individual clients, or the speed with which those payments will be made. If you owe money to Alpari, you'll still owe them. If you had funds over £50k with Alpari, don't expect them to magically re-appear with ETX.

As I read it, this development basically just gives you the option to have whatever refund you're owed paid directly into a new ETX account. The sole advantage will be that you won't have to go through the usual account setting-up process. The FSCS and KPMG processes will continue at the same rate and payout in the same way and at the same time as they were always going to.

At least, that's how I read it. I'll be interested to see whether there's more to it than that.

op
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