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  • #5,521
  • Mar 28, 2015 7:57am Mar 28, 2015 7:57am
Quoting Pupsik
Is it better to claim from FSCS or from Alpari or wait for ETX? And how can I know if I want to trade with ETX if they don't have a normal demo account?
go to etx, here is the link. You can even read, I think.
http://www.etxcapital.co.uk/
  • #5,522
  • Mar 28, 2015 8:20am Mar 28, 2015 8:20am
Quoting Spekulant
{quote} Could you may be a bit more detailed? What are your informations? ETX Capital - part of - Monecor Ltd. - owned by - JRJ Group and BXR Group? Rich Russian Guy vs private equity companies with big portfolio? I am not sure whether they are willing to keep a rotten investment.
Monecor Ltd is owned by Kytos Ltd an offshore company (sound familiar ?)
  • #5,523
  • Mar 28, 2015 8:33am Mar 28, 2015 8:33am
ETX Capital is excited to welcome former clients of Alpari (UK). We look forward to working with both you and the joint special administrators in the weeks ahead to transfer your funds to your control.

I don't think etx capital will wait so much...cause they has spent money guys for have this list...so kpmg cannot take a lot of time for sure for make this transfer.

Only my question now is to know i will receive 100% if i go with etx??? or should wait dividends from kpmg and than transfered to etx? if is like the second i will stay with fscs.
myfxbook: neoxis
  • #5,524
  • Mar 28, 2015 8:46am Mar 28, 2015 8:46am
Quoting neoxis
ETX Capital is excited to welcome former clients of Alpari (UK). We look forward to working with both you and the joint special administrators in the weeks ahead to transfer your funds to your control. I don't think etx capital will wait so much...cause they has spent money guys for have this list...so kpmg cannot take a lot of time for sure for make this transfer. Only my question now is to know i will receive 100% if i go with etx??? or should wait dividends from kpmg and than transfered to etx? if is like the second i will stay with fscs.
I think ETX can also speed up nothing. The money must be given free of insolvency. But interesting to read that ETX has the server programmed to act the former clients of Alpari same conditions with the MT4 as with Alpari. At least it is written on the website of ETX. Otherwise, it does not matter who pays the money or transferred. time is hardly a difference between FSCS, KPMG and ETX exist. For me, it's worth a try to test ETX, even if it is a market maker. I'll see.
  • #5,525
  • Mar 28, 2015 8:47am Mar 28, 2015 8:47am
Quoting neoxis
ETX Capital is excited to welcome former clients of Alpari (UK). We look forward to working with both you and the joint special administrators in the weeks ahead to transfer your funds to your control. I don't think etx capital will wait so much...cause they has spent money guys for have this list...so kpmg cannot take a lot of time for sure for make this transfer. Only my question now is to know i will receive 100% if i go with etx??? or should wait dividends from kpmg and than transfered to etx? if is like the second i will stay with fscs....
They haven't spent a penny until they know how many go across to them. All they have agreed is KPMG can deduct % of what is transferred. Do you really think they would spend millions of pounds when they don't know what they getting ??? What if eveyone says no.
  • #5,526
  • Mar 28, 2015 8:54am Mar 28, 2015 8:54am
Quoting claudia1
{quote}They haven't spent a penny until they know how many go across to them. All they have agreed is KPMG can deduct % of what is transferred. Do you really think they would spend millions of pounds when they don't know what they getting ??? What if eveyone says no.

claudia is right the agreement is provisional based on certain parameters happening.

i dont expect ETX to credit us the money that is probably going to take from FSCS/KPMG as this is going to create other issues within their balances (is anything goes wrong)

and EVEN if they do that...its unlikely that we are going to be able to withdraw them until "confirmed"

so even if you take your money through ETX and you take them to another broker they have a certain "offset" for this as well

as i mentioned on my previous msg its just another option that we have right now... in reality nothing changes apart from the issue that KPMG might be forced a little bit more now to have the administration issue closed (for creditors ) and speed things up
  • #5,527
  • Edited 9:10am Mar 28, 2015 8:58am | Edited 9:10am
Quoting claudia1
{quote}They haven't spent a penny until they know how many go across to them. All they have agreed is KPMG can deduct % of what is transferred. Do you really think they would spend millions of pounds when they don't know what they getting ??? What if eveyone says no.

They already spent a initial money for be entitled to have the client list. Why you don't inform yourself?? are you talking with the most informed user in here. So don't say to me what i already know i know everything. i was the first one posted here the database documents of alpari presentation company document and i read all 100 pages about the proposals pack pdf.

So please don't say what is obvious. I said they had spent a certain amount for client list and an additional % for every account will be transfered to them.

I'm more informated than you.

and etx never will make a deal if kpmg will not say to them a potential date when distribution will be processed out. Come on guys you really think ETX spent 1 month of discussion for nothing???? THEY GONNA PAY MONEY SO THEY ASKED FOR SURE THE TIMELINE ABOUT DISTRIBUTION. i REALLY DON'T KNOW HOW YOU MAKE A DEAL?
YOU REALLY THINK THEY JUST ACCEPTED LIKE A CLOSED BOX? COME ON! STOP TO SAY STUPID THINGS. THEY ALREADY KNOW AN ESTIMATED DATE OR NEVER WILL MAKE THIS DEAL. they know every details about clients or they never propose nothing if they found an agreement! wake up! etx if has made this step , they know already we can have ours money soon for sure with FSCS.

YOU SHOULD UNDERSTAND THIS OUTSIDE THE LINES! AND NOT JUST READ LIKE A FUSSY.

ETX DON'T MOVE THEIR ASS IF KPMG WILL NOT SAY TO THEM THE TIMELINE OR IF KPMG SAID OVER 1 YEAR OR UNCERTAIN PROCESS DETAILS.

THINK PEOPLE THINK.

AND LIKE KPG SAID THIS IS AN OPPORTUNITY FOR CREDITORS TO TAKE MONEY BACK. SO FOR SURE KPMG WILL SPEED UP THE PROCESS. i REALLY DON'T KNOW HOW YOU THINK IN YOUR MIND...CREDITORS WANT MONEY LIKE US AND UNTIL OURS FUND WILL NOT TRANSFERED CREDITORS WILL NOT TAKE ANYTHING.

SO EVERYONE WANT'S THIS DEAL WILL BECOME TRUE SOON. CREDITORS AND CLIENTS AND KPMG TOO.

BEFORE TO PUT SHIT AGAIN ON EVERYTHING STOP TO THINK AND THAN TALK.

I'M REALLY TIRED YOU ARE NOT CONTENT ABOUT NOTHING ON THIS DEAL. YOU CAN JUST COMPLAIN YOURSELF FOR EVERYTHING. WHAT YOU WANT A MAGIC HAT WHERE YOU CAN FIND YOUR MONEY??? PESSIMISTS EVERYWHERE. I NOT ANSWER ANYMORE TO ANY POST THAN MAKES USELESS WORRIES TO OTHERS.
myfxbook: neoxis
  • #5,528
  • Mar 28, 2015 9:16am Mar 28, 2015 9:16am
Quoting neoxis
{quote} They already spent a initial money for be entitled to have the client list. Why you don't inform yourself?? are you talking with the most informed user in here. So don't say to me what i already know i know everything. i was the first one posted here the database documents of alpari presentation company document and i read all 100 pages about the proposals pack pdf. So please don't say what is obvious. I said they had spent a certain amount for client list and an additional % for every account will be transfered to them. I'm more informated...
Not a pessimist a realist.
  • #5,529
  • Mar 28, 2015 9:18am Mar 28, 2015 9:18am
Quoting claudia1
{quote} Not a pessimist a realist.
No uninformed pessimist just that. ETX will never make this deal if we gonna have problem with distrubutions. They already know the timeline.
myfxbook: neoxis
  • #5,530
  • Mar 28, 2015 11:28am Mar 28, 2015 11:28am
Quoting claudia1
{quote} Monecor Ltd is owned by Kytos Ltd an offshore company (sound familiar ?)
id imagine that is for tax purposes. I wouldn't read anything bad into that.
  • #5,531
  • Mar 28, 2015 2:32pm Mar 28, 2015 2:32pm
Here is what I think what will happen:

 

  1. ETX will offer us an opening balance with them equal to what we have agreed on the KPMG/ALPARI portal
  2. If you agree to move over to ETX you will be able to trade immediately but will only be able to withdraw profits made by you
  3. You will only be able to withdraw your original capital from ETX once FSCS make the final payment which will be a date in the nearby future.

My reasons for the above as follows:

ETX would have negotiated such a deal in order to:

 

  1. Give traders the opportunity to trade immediately on agreement to move over to ETX in stead of having to wait for a further indefinite period of time before the traders will get their money from the administrator/FSCS.
  2. To give them (ETX) value for their investment in the sense that the majority of traders who agrees to move over to them might just stay with them as they ( ETX) would try to prove that they are a perfect alternative to Alpari. If the majority of clients do stay with ETX the broker will reach break even on their investment not far from the date of the deal and thereafter profits for the broker will start rolling in. This is a well worked out deal and KPMG/FSCS will certainly let ETX benefit on the deal by delaying the payout of client monies just long enough so that the majority of moved over clients to ETX will not be able to withdraw all their funds quickly and thereby giving ETX the advantage they negotiated for.....
  3. To let the administrators make their fair fees/profit on the ETX/Administrator deal.


ETX's negotiations and subsequent new investment will have conditions of their own hence my explanation above. They are just like the administrators in it for the money.

Just my two cents...

G

Never Ever Give Up!
  • #5,532
  • Mar 28, 2015 2:44pm Mar 28, 2015 2:44pm
Lets have at least 1 joke on this thread at KPGM's expense

so im watching F1 Quali on bbc and i could not help but notice our dear slackers KPMG (takes so long to get anything done) are proud sponsors...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 885 KB


Explains why Mclaren Honda were 4 sec a lap slower last race and Alonso CBA to even race

jj
  • #5,533
  • Mar 28, 2015 4:15pm Mar 28, 2015 4:15pm
Quoting Cobra
Here is what I think what will happen: ETX will offer us an opening balance with them equal to what we have agreed on the KPMG/ALPARI portal If you agree to move over to ETX you will be able to trade immediately but will only be able to withdraw profits made by you You will only be able to withdraw your original capital from ETX once FSCS make the final payment which will be a date in the nearby future. My reasons for the above as follows: ETX would have negotiated such a deal in order to: Give traders the opportunity to trade immediately on agreement...
if is like this you will go with etx?
myfxbook: neoxis
  • #5,534
  • Mar 28, 2015 5:25pm Mar 28, 2015 5:25pm
I will trade with them as a thank you for a month and after will go to fxpro
  • #5,535
  • Mar 28, 2015 5:35pm Mar 28, 2015 5:35pm
Quoting Cobra
Here is what I think what will happen: ETX will offer us an opening balance with them equal to what we have agreed on the KPMG/ALPARI portal If you agree to move over to ETX you will be able to trade immediately but will only be able to withdraw profits made by you You will only be able to withdraw your original capital from ETX once FSCS make the final payment which will be a date in the nearby future. My reasons for the above as follows: ETX would have negotiated such a deal in order to: Give traders the opportunity to trade immediately on agreement...
Maybe
  • #5,536
  • Mar 28, 2015 6:05pm Mar 28, 2015 6:05pm
Quoting Cobra
Here is what I think what will happen: ETX will offer us an opening balance with them equal to what we have agreed on the KPMG/ALPARI portal If you agree to move over to ETX you will be able to trade immediately but will only be able to withdraw profits made by you You will only be able to withdraw your original capital from ETX once FSCS make the final payment which will be a date in the nearby future. My reasons for the above as follows: ETX would have negotiated such a deal in order to: Give traders the opportunity to trade immediately on agreement...

thats an option i mentioned as well but the issue is whether this is viable. dont forget that the funds available for trading need to much certain financial regulation "algorithms" so they should have an explicit "OK" from the authorities to move on with such a scenario.

of course this is going to provide us (the clients) with the flexibility of not standing here on this thread 24/7 moaning that we can not "work" on our capital.

btw regarding customer acquisition... its very hard in this industry to acquire an active customer and it costs a lot... these kind of circumstances are great opportunities for FX brokers as they can get "easily" and at very competitive costs active traders. moreover alpari was an opportunity that many didnt want to miss because of too many clients available, with great demographics and of course great volumes.

ETX as it seems now had the experience from previous similar cases and thus a "competitive advantage" in that process as to make very good calculations ( cost/retention/volumes etc) so i believe it was easy for them to outsmart its other competitors (the one who didnt got into the game because of the PRs)

i therefore believe the process will be a smooth one the time is of what concerns me (and has concerned me right from the start)

said that a probably stupid question...

what are their average spreads on the mt4 platform? does anyone have experience? (i am on talking about the advertised ones... ;-) )
  • #5,537
  • Mar 29, 2015 2:57am Mar 29, 2015 2:57am
Quoting neoxis
{quote} if is like this you will go with etx?
Yes I would because

 

  1. ETX is UK regulated ( My funds will be safe)
  2. I also would have access to my profits , depending on the conditions of the deal.
  3. Market Makers are not that bad after all ( As we all have seen by now) Alpari = ECN and went bankrupt. Most bucket shops especially the better ones ( Oanda, FxPro, FXCM) have survived the Chf incident.
  4. It would give me the opportunity to start trading and building my acc immediately without having to have my capital stuck somewhere where it cannot work for me.


G

Never Ever Give Up!
  • #5,538
  • Edited 3:44am Mar 29, 2015 3:28am | Edited 3:44am
Quoting verv
{quote} an option fo what? All clients still have the option of withdrawing from fscs, nobody is being forced to etx against their will, and etx has said people can withdraw their money whenever they choose.just read what was said, and watch the CNBC interviewYou are making yourself and others worry for no reason
it is quite obvious the whole process to give us back our money is delayed to simply keep us on the order books so we can be made money from..if a big institutional authority just as a court cannot give us back our money quick..how the hell do u expect a small firm in comparison to do it quick?

I am not trying to worry any1 because i know we will see our money..but this process stinks..many people have large sums of money and depend on the money to make a living and at the moment it is simply out of reach..I see nowhere in this where we have been given any sense of priority. If u live in the UK? I am sure u must have heard a advert on radio saying if a bank went down so long as it was below 75-85k in most case u would have yur money back usually within a week because of fscs (or whatever) protection..which is bullshit isnt it!!
  • #5,539
  • Mar 29, 2015 3:36am Mar 29, 2015 3:36am
Quoting Cobra
Here is what I think what will happen: ETX will offer us an opening balance with them equal to what we have agreed on the KPMG/ALPARI portal If you agree to move over to ETX you will be able to trade immediately but will only be able to withdraw profits made by you You will only be able to withdraw your original capital from ETX once FSCS make the final payment which will be a date in the nearby future. My reasons for the above as follows: ETX would have negotiated such a deal in order to: Give traders the opportunity to trade immediately on agreement...
yur post covers my concern and i believe also will be the case..the money will be locked for a period of time..people have to be smart which is not seen to much in here..for a company to buy our account details knowing theres a good chance we going to withdraw..there need to be something to tie us in longer term..they will make the assumption more people lose there capital than actually make a return..

The point of this thread is to discuss our options..so we collectivly can be smarter in making the right decisions for ourselves..I have no doubt we going to see our money but it will be a while, me thinks..be positive about this at least
  • #5,540
  • Mar 29, 2015 3:45am Mar 29, 2015 3:45am
Quoting claudia1
{quote} Not a pessimist a realist.
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