Alpari.co.uk Discussion

Me too, my choice was FSCS 4 weeks ago, No email from ETX, I'm from Italy

A update has been put on KPMG website for those that havent received the client portal email yet.

Ok,so all with open trades on 15th and 16th ,there is no real update.KPMG will take
as long as they want.

Withheld accounts o The JSAs have withheld a number of accounts due to insufficiently detailed contact information being held on Company systems, uniquely to identify the claimant for the purposes of signing into the Claims Portal. o A further small population of Clients have been withheld due to other bespoke issues. o Efforts are being made to ensure that all individual Clients are contacted as soon as possible. Owing to the complexity of these issues and the number of Clients affected, this process may take a number of months. - Swiss trades o Those Clients who held an open CHF trade at some point on either 15 or 16 January 2015 (c.1,200 Clients) will be granted access to the Claims Portal as soon as the pricing of these trades is confirmed. o The JSAs continue to conduct analysis on these trades, and further updates will be provided on the JSAs website as soon as further information becomes available.

WOW since they not verify every account in the company they cannot release funds to others! ahahaha and it will require A NUMBER OF MONTHS??? lol just for let's enter every user inside the portal??? and after that let's wait other NUMBER OF MONTHS FOR ANY DISTRIBUTION??? ahahahahaah this company really make me laugh a lot.

remained just 7500 accounts with money. months for figure out them. Unbelieveble.

So who already agreed should wait so long??? thank god than in the meeting they SAID IT WILL NOT REQUIRE 1 YEAR FOR HAVE FUNDS BACK!
But at this point i think the only hope is FSCS!

What a really fuckin mess and kidding.

How can etx can give us money back soon?????? Maybe just if they transfer money from fscs i really don't think so with kpmg!

ETX will give you credit

You will trade with credit money

Well
we are in a comic show now
I can't imagine what they are saying

o Efforts are being made to ensure that all individual Clients are contacted as soon as possible. Owing to the complexity of these issues and the number of Clients affected, this process may take a number of months.

These months for clients who didn't receive access to portal, or all of us?

Alpari was regulated from FSA, and has all these issues?!?

This update is a joke, honestly! I am usually patient but come on... how long does it take to figure out balances and closing prices of 7000 people? If it is 1 single slow person working it shouldn't take more than a month! This is becoming ridiculous...

Considering the update was released yesterday April 1st I am taking this as an April Fools prank.... it is a proper joke...

KPMG accumulating fees...........

FSCS has no regulatory powers anymore and are toothless.........

ETX cannot wait to get their hands into the cash register........

Clients always on the losing side...........

That guy Heis in the meeting admitted himself that the accounting and record keeping by alpari was excellent and now with these greedy behaviours to drag the case and justify their ridiculous fees they are damaging the whole industry. I was naïve enough to deposit way more than 10 X Margin required in case I lose my bets and save time sending more money. It seems they want to pressurise people like me to go to ETX. I believe the best strategy is to find the exact Body who supervise these buggers and make a formal complaints.

anyway we will see...maybe fscs will post an update soon about payment on who has already agreed claims. Better to wait before think any insinuation.

As Cobra says, this is accumulation of fees for KPMG

I'm sure I could apply a closing price to the CHF trades and the other open trades in a matter of minutes.

But for some reason KPMG says they need months, because it is ""complicated""

As a result we all might have to wait until we get our claims back - it seems possible that the FSCS won't move unless the Alpari situation is resolved for all accoutns

It has turned into a joke

If you go with the FSCS then they have a maximum time limit of 6 months from receipt of your claim until they pay back up to 50k, irrespective of where KPMG are in their reconciliation process or whatever

Question is, has KPMG sent the claim to the FSCS or have the FSCS received it as the 6 month time limit clock only starts ticking from then

So, if FSCS receives the claim today it could take up to October before release of money. Then they may send you a cheque which could take several weeks to reach you depending on where in the world you live. Then allow up to several weeks for it to 'clear' depending on who you bank with.

Bottom line is we will 'probably' have up to 50k back just in time for Christmas and if you are owed a sum greater than 50k then its anyone's guess as to when you will get the rest of the balance

As I keep saying: FUBAR

kpmg said on the statement "this will not assign automatically claim with fscs, you will contacted by fscs for confirm your claim" So i guess 6 months start from than fscs will start procedure for contact us by email

Seems it will take so long....wtf....was looking things were coming out instead nothing like that...and even etx is just a hunter in search of prey...really disgusting this situation for us...but creditors don't say anything about these whole delay??? is in their interest too close this mess i guess.

bytheway i really don't know what to think know....if we really must wait until all accounts will be processed or agreed in the claim portal.....we can wait really longer maybe more than 1 year surely. Cause a lot of customers don't neither enter in the claim portal for the rest of their life.

. On a serious note I guess the couple of months refers to the those clients whose details are not
accurate.For those with open trades on 15th and 16th no time limit is given.

Is not fair than who already agreed claim should wait SOMEONE HOW NOT HAVE ACCURATED DETAILS IN THE COMPANY SYSTEM. I SHOULD NOT WAIT FOR OTHERS DEFICIENCIES.

I really hope fscs will keep going in their way and anticipate us money from ours claims.