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  • #6,001
  • Apr 16, 2015 3:43am Apr 16, 2015 3:43am
Can a mother tounge english speaker explains what this means with the new informations, regarding "illustrative financial outcome for Clients"

As far as I understand: going with KPMG might cost till 25 % of the CMP ?

Pls need help to understand correctly.
  • #6,002
  • Apr 16, 2015 4:15am Apr 16, 2015 4:15am
Quoting muckele1
I see it like this: KPMG eats the money of trader. The cost of KPMG hold still rather limited. The additional costs are enormous. The longer the whole process takes, the greater the additional costs. For example, costs for the infrastructure. Who had KPMG chosen as method of payment, which must in the end take FSCS to complete. I assume that FSCS pays the money of the customers. For me FSCS is important. I hope that a binding statement of FSCS comes before month end, when we get our money.
IN FULL FROM fSCS!
myfxbook: neoxis
  • #6,003
  • Apr 16, 2015 4:17am Apr 16, 2015 4:17am
Dear Alpari UK clients,

https://ci5.googleusercontent.com/pr...4b9443030f.pngThe good news, of course, is that the Alpari UK bankruptcy saga appears to be nearing its conclusion, and former clients of Alpari UK should be soon getting (most of) their money back.

However looking at the recent filings made by special administrator KPMG, some troubling facts became apparent.

First, it has taken KPMG nearly three months to (finally) come up with a mechanism to value Swiss Franc (CHF) pair positions, for those clients which had open trades involving the Franc.

Why has it taken so long?

Well, KPMG gets paid by the hour. The more time spent, the more fees they earn, to the tune of about £500 per hour.

In total, KPMG reported that it has charged more than $6 million in fees to the Alpari UK file, expecting its total take to be in the $7-8 million range by the time all is said and done. Not bad work if you can get it.
myfxbook: neoxis
  • #6,004
  • Apr 16, 2015 6:54am Apr 16, 2015 6:54am
Quoting forexTN14
Can a mother tounge english speaker explains what this means with the new informations, regarding "illustrative financial outcome for Clients" As far as I understand: going with KPMG might cost till 25 % of the CMP ? Pls need help to understand correctly.
Dude what are you confused about?Don't complicate things so much.Unless you had more than £50K ,you don't need
to worry,once you get access to the claims portal just agree to your claim if you are ok with it.Your full
balance is covered by the fscs.So any shortfall of your funds held with alpari is covered by fscs.
  • #6,005
  • Apr 16, 2015 7:07am Apr 16, 2015 7:07am
Quoting shail31
{quote} Dude what are you confused about?Don't complicate things so much.Unless you had more than 50K ,you don't need to worry,once you get access to the claims portal just agree to your claim if you are ok with it.Your full balance is covered by the fscs.So any shortfall of your funds held with alpari is covered by fscs.
he is not confused, but his knowledge of the English language are inadequate. I want to see you if you should suddenly communicate in German or French.
  • #6,006
  • Apr 16, 2015 9:32am Apr 16, 2015 9:32am
Quoting muckele1
{quote} he is not confused, but his knowledge of the English language are inadequate. I want to see you if you should suddenly communicate in German or French.
Please read what I wrote.What I meant was don't go into complexities as it is simple that fscs covers everyone
who is owed less than 50K.This has got nothing to do with his knowledge of english.I know you need your
money but plz don't vent your frustration on me.
  • #6,007
  • Apr 16, 2015 10:37am Apr 16, 2015 10:37am
Quoting yaed
{quote} Well this thread has added on some 100 pages or so since the Alpari went belly up. So far, pretty much nothing said in it has made much difference. Maybe some people have blown of some steam, but i was never one of those who used a thread on the internet for that kind of thing. Kind of makes me think about how people consider information. ANY information is not good information in itself. So there is little point in debating rumors and a lot of things that dont make an actual difference to know or not know in reality.

Fair point.

Forum discussions are not necessarily making any difference in solving the matter but rather offer some consolation that your feelings and frustrations are shared by someone else. And it would be helpful for non English speakers too who can pose questions here as way too may legal process and jargon are involved.
  • #6,008
  • Apr 16, 2015 11:00am Apr 16, 2015 11:00am
Hello my name is Bruno and my first language is spanish and im from Peru.

I already chose fscs at the portal, so is there any news about it?, or i should keep waiting?, because the last thing i knew is that fscs will contact you.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #6,009
  • Apr 16, 2015 1:16pm Apr 16, 2015 1:16pm
Quoting Brucasella1
Hello my name is Bruno and my first language is spanish and im from Peru. I already chose fscs at the portal, so is there any news about it?, or i should keep waiting?, because the last thing i knew is that fscs will contact you.
yes dude you have to wait as first all the chf trade validations have to be completed which will mostly be done by 30th.
I am of the opinion only then will the payment processes begin.In short you have to wait for a few more weeks.
  • #6,010
  • Apr 16, 2015 2:21pm Apr 16, 2015 2:21pm
I have been working on my thesis for the last weeks and couldn't follow up reading this thread.

The last thing I heard was that ETX bought the client list and you can descide to go with them. I also got some E-Mails from them, but didn't react.

Could someone be so nice to give me a short update what the forums opinion is? Should I go with ETX or just not do anything and wait for the FSCS email?

Will the FSCS contact me and give me back my money if I don't do anything now?

I don't want to continue trading.

Thanks a lot for your knowledge.

Cheers
  • #6,011
  • Apr 16, 2015 4:22pm Apr 16, 2015 4:22pm
Quoting haemse
I have been working on my thesis for the last weeks and couldn't follow up reading this thread. The last thing I heard was that ETX bought the client list and you can descide to go with them. I also got some E-Mails from them, but didn't react. Could someone be so nice to give me a short update what the forums opinion is? Should I go with ETX or just not do anything and wait for the FSCS email? Will the FSCS contact me and give me back my money if I don't do anything now? I don't want to continue trading. Thanks a lot for your knowledge. Cheers
As far as I can tell going with ETX just means when the money is available it will be thrown straight into one of their accounts so you can trade with them. I don't think money for them comes any faster.
  • #6,012
  • Apr 16, 2015 5:51pm Apr 16, 2015 5:51pm
Quoting xMeruem
{quote} As far as I can tell going with ETX just means when the money is available it will be thrown straight into one of their accounts so you can trade with them. I don't think money for them comes any faster.
I also think about ETX the money is not available faster. But eventually admits ETX a credit in anticipation of the money. This is based on calculus. My broker, it would not. ETX is a market maker. You are trading with a market maker, you do not have market prices and the broker is a counter-positions. Furthermore closes ETX on Friday before the market closes.
  • #6,013
  • Apr 16, 2015 11:22pm Apr 16, 2015 11:22pm
hello everyone

i choose the claim to CMP, can i change my claim to FSCS now ??
  • #6,014
  • Apr 17, 2015 12:54am Apr 17, 2015 12:54am
Quoting methenine
hello everyone i choose the claim to CMP, can i change my claim to FSCS now ??
answered the question yourself when you are logged in you on the portal at Alpari.
  • #6,015
  • Apr 17, 2015 3:49am Apr 17, 2015 3:49am
Quoting methenine
hello everyone i choose the claim to CMP, can i change my claim to FSCS now ??
YES YOU CAN...
  • #6,016
  • Apr 17, 2015 6:56am Apr 17, 2015 6:56am
Quoting panhwar
{quote} YES YOU CAN...
There is no such option in the portal to change the claim after you have selected to one or the other option.
I have sent KPMG a letter if I can make a change but so far no answer to that question

Regards

Kristjan
  • #6,017
  • Apr 17, 2015 7:33am Apr 17, 2015 7:33am
Quoting kristjantelve
{quote} There is no such option in the portal to change the claim after you have selected to one or the other option. I have sent KPMG a letter if I can make a change but so far no answer to that question Regards Kristjan
tha'ts what i meant. the question answered itself when you re-logging into the portal of Alpari.
  • #6,018
  • Apr 17, 2015 7:38am Apr 17, 2015 7:38am
There will be possible to change it later in the next stage
You will now will take distribution from kpmg. if you will have any loss you can make a claim later to fscs about the difference.
myfxbook: neoxis
  • #6,019
  • Apr 17, 2015 8:04am Apr 17, 2015 8:04am
So. I know where the hole in the funds of Alpari UK is from: http://www.dashin.ru/en/my-interests/lifestyle

Mr. Dashin is having a lavish lifestyle, KPMG is billing tons of pounds to cover their fees, Dashin, the "business magnate" is creating and then will bankrupt yet another broker, FXTM, and all of that at the costs of his traders! Who, by the way, are stranded for what, 3 (!) months already, and risking to loose their money!

Such an entrepreneurial talent. Much business foresight. Very wow.

http://oi58.tinypic.com/2udug3k.jpg
Attached Image
  • #6,020
  • Apr 17, 2015 8:36am Apr 17, 2015 8:36am
Dear fellow traders,

has any of you decided to take ETX up on their Welcome Bonus?

I emailed ETX a couple of questions regarding their welcome bonus 4 days ago, but haven't received a reply yet.

Perhaps anyone of you has clarity about the exact bonus terms and could answer the following questions:

1. Is the welcome bonus only eligible for new deposits, or would it also be claimable for money transferred from Alpari UK accounts, if trader decides to transfer to ETX?
2. How does the bonus redemption work exactly?
a) How exactly would i trade 300% of the bonus in 90 days?
For example, if i deposit 10000+ USD i'd qualify for a 6000 USD Bonus. How many Forex-Mini-, Micro- oder Standardlots would i need to trade in 90 days, to get
credited the bonus in full?
b) What kind of trades qualify? Opened trades in the 90 day time span, or trades that were opened AND closed during the 90 days?
b) From what day / point in time are the 90 days counted down (example for timespan)? Are this calendar days or trading days?

Please be so mindful and only reply if you have got according info from ETX. There's way too much spec and guess in this thread already ...

Tia

M.
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