Alpari.co.uk Discussion

hi all,

I'm confused about he whole process I eceieved couple of emails the last one was the below? does this mean my money wll be transferred to te new broker

Alpari (UK) Limited (in special administration) completes sale of client data to ETX Capital
Richard Heis, Samantha Bewick and Mark Firmin, Joint Special Administrators of Alpari (UK) Limited (in special administration) (the "Company"), are pleased to confirm that an agreement has been reached for the sale of the available client data of the Company to ETX Capital (ETX). An initial consideration has been received for such client data and an additional amount may be received for each client of the Company who chooses to deposit funds with ETX.
ETX will shortly be contacting clients of the Company offering them the opportunity to open an account. In due course, ETX will also be in contact with those clients with a claim in the special administration in order to provide details of a mechanism to direct their funds into their newly opened ETX account, should they wish to do so.
Please note that timing and quantum of client money distributions in the special administration will not be affected by whether clients choose to make deposits into their newly opened ETX account.
Following substantial initial interest in the Company's client list, we are pleased to have now concluded a sale, as we continue to work to seek ways to maximise the level and speed of return to clients and creditors in accordance with our statutory duties.
For a full copy of the press release, please visit the Joint Special Administrators website https://www.kpmg.com/uk/alpari
Please note that the Joint Special Administrators, acting as the agent of the Company, may process the personal information the Company holds for the purposes of the special administration and complying with their obligations under applicable laws and regulations, as well as any other purposes for which clients have provided personal information to the Company. These purposes may include those set out in the client agreement with the Company and its privacy policies made known to clients. This may include the transfer of personal information to another company including ETX as part of the Joint Special Administrators' efforts to maximise realisations for clients and creditors. The Joint Special Administrators have taken and will continue to take measures to safeguard client information, including by requiring any company to whom they may transfer or have transferred personal information, including ETX, to have in place adequate security measures to prevent its unauthorised or unlawful use, and to otherwise comply with applicable data protection laws, including the Data Protection Act 1998. Any such company including ETX will also be required to inform clients of the purposes for which it will use their personal information.
If you have any queries, please contact [email protected]
Kind regards
For Alpari (UK) Limited (in special administration)
Samantha Bewick
Joint Special Administrator

Clearly they sent different e-mails, with or without the added point of crediting in advance the agreed funds... this must depend on laws of where we are based, on having agreed to assign to FSCS, on size of balance, or on all of these...

I for instance, am based in Portugal, was contacted in English, have agreed balance and assign to FSCS, and am claiming around 5K€ - I didn't receive that added point in the letter.

I got a mail from ETX asking me to claim my money back, but I didn't get any mail yet from the special administration of Alpari for the claim portal. Hilarious.

i know, don't get me wrong, that's why i've assigned my claim to the FSCS, i know ill get my money in the end, another 3 months at least i would say.

Just had a very unpleasant conversation with a ETX rep from London. His number +442073921568

He phoned about a demo i registered at ETX.

He told me that I registered for a live acc which I DID NOT.

I decided to confront him with the fact that they just made two different offerings to Alpari's former clients.

He

 

1. Refused to believe me and basically told me that it is not true even after I challenged him to visit this forum and verify my claims
2. He could not speak English properly which is of a great concern to me. If he phones prospective clients from the UK I expect him to be fluent in English. He wasn't.

He went further to say that the detail of their offer was still not decided by them and that I should not take notice of any "other" sources besides their own emails to me. He asked me twice what my Alpari balance was and I told him it is not his business. He was notably more interested in how much I will transfer to ETX which clearly shows that ETX is way more interested in making money than helping us.

He told me that ETX will inform me what will happen as if I have already agreed to place my acc with them.

The tone of his voice and the fact that he spoke as if ETX is already in charge of my money pissed me off completely.

I urge everyone here to investigate them properly before you place your hard earned money with them. This rep is not competent enough in my books to had this conversation with me. He was one track minded and basically made me feel as if they are already in charge of my funds.

G

PS: I also do not remember when KMPG approached me for permission to sell my personal information to a third party ( ETX)??????

I think we should all stay away from ETX and pursue our claims through the FSCS, they are being very unprofessional in their approach to all this...

in general are ETX good as brokers?

Facts.

1- We are on the 3rd month and didn't get back our money.
2- The 1st thing they informed us, that our money is in segregated accounts, and we will get it in full.
3- They told us they can sell the company as a whole unit.
4- They announced us that Andrey Dashin has bought the trade mark and the domain name, but he will not use the domain name only if they finished the process, but after 2 days alpari.com redirected us to alpari Russia.
5- They announced, all of us will get our money in the late of march, we are now on the 1st of April and non of us got a penny.
6- They sold the clients' list and at the same time they confirmed this will not make the process any quickly.
7- Clients from other countries, get back their money in 2 weeks "Alpari Japan", from the real segregated account.
.......
I can count to 20.
Enough is enough

exactly!!..they really think we are as dumb as they come

Segregated in the UK means that your funds are segregated from you as the client for as long as they ( KPMG/FSCS) decide so.....

Regulated in the UK means that once an administrator is appointed by the court the administrator will regulate your money the way they see fit....

ETX in the UK means Eager To X-Ray your money and make it our own!

G

very good lol

u are right

Just got this reply from them when I enquired about the "credit line offer"

Note the " Blue Tiger - Enquiries below with which they started their email to me !!!!!!! What the F_ _ _ is Blue Tiger Enquiries???????????



________________________

Blue Tiger - Enquiries

19:44 (49 minutes ago)
https://mail.google.com/mail/u/0/images/cleardot.gif
https://mail.google.com/mail/u/0/images/cleardot.gif
https://mail.google.com/mail/u/0/images/cleardot.gif
to me
https://mail.google.com/mail/u/0/images/cleardot.gif
Dear Mr B..........

Thank you for your interest in ETX Capital. We are currently offering the same facility to all EX AlpariUK clients should there be any official offer of a credit line at any stage client's will be informed accordingly.

We have a dedicated team dealing with EX-Alpari clients who will be contacting you in the coming days with further information.

Should you have any questions in the meantime please do visit our FAQ's page at http://www.etxcapital.co.uk/welcome-alpari-clients/faq/

Kind Regards


Client Support

next ETX Capital will be charging a commission if the money ever gets released

I had access to claim portal 3 weeks ago and going with FSCS.. I have received no email from ETX. I 'm based in China... interesting..

Etxcapital are a good broker, but this is taking the piss a bit, I'm sure their involvement is holding up kpmg now who are already much slower than they need to be.

When I get the chance I'm claiming from fscs and only fscs.

Still don't have access to the portal.

I am from Canada and got this email about ETX too, first from their CEO and then from customer service. I lost only a little bit with Alpari so I am looking at it as a price for a ticket to be a part of the process so it is a good experience for me, an adventure rather than a pain.

It happen so that I am looking right now for a second broker to trade as I have one that I like but looking for one more just in case to spread the risk, so I will give ETX a try, why not? I have very specific requirements for my trading so not sure they will fit what I want but the point I wanted to make is that there is no ideal broker. UK or Swiss brokers are among the few still providing any tangible protection for us so they are better than the rest after all.

I am sure that everyone will eventually get their money back, at least if it was under 50,000 pounds so it is not all that bad, relax. As someone said above open your account with a broker from Malta, Panama or Russia and see how much money you will get back when your broker goes down. Then you will know what the real pain is.

If you still want to trade, which you probably do, where would you go? There are hundreds of FX brokers seemingly available all over the world but once you dig deeper to see who they are the choice is really very limited. I think that is why ETX bought the Alpari client list as eventually, after the dust settles, they are not the worst, I believe far from it. It might not fit your or my trading for a technical reasons but not because of the protection problems which should be our concern number one after Alpari.

Life is good. It is all part of a trading experience, enjoy it... It will make you a better trader if you stay in the game.

You are correct. The sale to ETX was holding up the process and will continue to hold it up as ETX would have their own conditions for buying the client list. KPMG will be forced now to work with ETX so that those conditions are met and so that ETX will get value for their investment.

The email from ETX says it all. They will HELP us in getting the money. Since when does KPMG/FSCS need help? This email clearly shows ETX's involvement and that will certainly slow down the process. ETX now have the right to be involved because they bought the client list. They will steer the process into the direction they want it to go. Why? Because they paid to be part of the process.

I have no interest in moving to ETX and will be waiting until FSCS pay me.

There are better options like Oanda and Fxcm. Both did not have to buy client lists to build their businesses. They became big because of sound business principles. They also handled the chf tragedy with dignity.


G

Hi all guys, if you are a client of Alpari, you should join us to clamp down on the Joint Special Administrators and ETX together. We have waited more than two month. We can’t just wait. And we still don’t know the details of how and when we can get our money back. We hope you can transmit this article to increase the number of clients join us. We hope we can catch some media’s attention for get our money back as soon as possible.

The Funds Returning Process Announcement of Alpari(UK)Ltd.’s Clients

It has been more than two month since 15/01/2015 the Alpari(UK)Ltd has collapsed and the Joint Special Administrators are managing all affairs of Alpari and make a announcement to say they will return the Client’s funds as soon as possible. Until now, the Joint Special Administrators still can’t return the client’s funds including these clients who didn’t trading CHF and had confirmed their balance on Claims Portal. Recently, the Joint Special Administrators sold the clients data to ETX Capital(The “ETX”), we realized it makes the process of the funds returned more complex. According to this, the clients of Alpari joint signature and release the announcement to ask the Joint Special Administrators and ETX to respond public!

Our Requirement:
1. The step and period details about dealing client funds by the Joint Special Administrators or ETX .For example, when the Joint Special Administrators can return the funds to the client or transfer to ETX if the client agree, including those client who have confirmed their account balance on the Claims Portal.
2. If the clients chose still assign their claim to FSCS or the Joint Special Administrators, please announce the period and the fee of client must pay to the Joint Special Administrators . And please make payments in period.
3. If the clients chose transfer their funds to ETX, according to the action of buying Alpari’s clients is on their voluntary basis. We need ETX respond in public, the ETXmust be promise us that the clients who chose transfer funds to their can withdraw funds without any other conditions and delay time.

Restate: We required the Joint Special Administrators and ETX respond in public

This announcement has agreed and supported by 1021 clients. We will continue to advertise this announcement on every forex bbs, website and media.

Best Regards,
All clients of Alpari(UK) Ltd.

I also got a call from them.
I did visit their website and opened what I thought was a demo account to check out their spreads, but your right, they opened me a live account.
Spreads are way to high when comparing them to my new broker IC Markets.

I'm just waiting for my money from FSCS, at some point it will arrive, could have been worse, we could have been with one of these brokers whe were not protected.

Asw