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Alpari.co.uk Discussion

  • #6,381
  • Apr 30, 2015 1:13pm Apr 30, 2015 1:13pm
Quoting Jpwhy
{quote} FSCS wire my USD to my bank account in EUR. then I wire transfer the EUR to my broker then transfer internally to USD account We can't transfer directly to a broker, it has to be a bank account. If I can do that quickly, eurusd rate won't matter much. You can also HEDGE your position by buying eurusd (with another broker). if eurusd goes up... u don't care..
If your bank account is in EUR, I don't get it why you would ask to open an account in a broker in USD... you like to pay conversion rates and being exposed to an extra risk (the exchange rate fluctuation between the deposit and withdrawal time)?
All brokers these days have accounts in several different base coin... I deal with EUR in my day to day life, so I open that account in EUR, too - no internal conversion rates at the broker.
  • #6,382
  • Apr 30, 2015 1:19pm Apr 30, 2015 1:19pm
So for what i understood KPMG gonna pay us (FSCS) within 2 months starting by 1 june so till the end of july.

I said they will pay FSCS not us...cause basically no one chosen to go with KPMG. So simply KPMG will pass money to FSCS and FSCS will compensate us starting from middle May right?

Cause i read FSCS was in discussion with kpmg for try to amortize the process of compensation among to clients and to recovery money from KPMG to FSCS bank.


So i guess may be works like that FSCS start compensation process in may and FSCS will take a recovery by KPMG starting in june.
myfxbook: neoxis
  • #6,383
  • Apr 30, 2015 1:27pm Apr 30, 2015 1:27pm
wow, KPMG is nimble! So there are at KPMG until the end of July money? Oh, I forgot that KPMG will be paid by the hour. Good thing FSCS sends money in May.
  • #6,384
  • Apr 30, 2015 1:35pm Apr 30, 2015 1:35pm
Quoting muckele1
wow, KPMG is nimble! So there are at KPMG until the end of July money? Oh, I forgot that KPMG will be paid by the hour. Good thing FSCS sends money in May.
yeah but in anyway...they gonna pay FSCS not us...Cause no one choosed kpmg. I'm just sorry for those persons who will lose more money (in KPMG fee/drama) for who has more of 75k USD.
myfxbook: neoxis
  • #6,385
  • Apr 30, 2015 1:55pm Apr 30, 2015 1:55pm
Dear people of Forex Factory!

I am a complete noob in the Forex world but I got quite lucky on the Swiss.
Now that I have access to the claims portal, could you please tell me if I should go with FCSC or not?
I have read the thread but I don't understand your awesome terminology :/

Any help would be appreciated!

Thanks : )
  • #6,386
  • Apr 30, 2015 2:01pm Apr 30, 2015 2:01pm
FSCS expects to start sending application forms to clients who have agreed their account balance on the Alpari claims portal from May 2015.
We expect to start sending application forms from May 2015 onwards. Once returned, FSCS will aim to issue a decision in respect of an individual’s claim within three months of receiving a completed FSCS application form.

damm... I'll be lucky to get my money by xmas...
  • #6,387
  • Apr 30, 2015 2:34pm Apr 30, 2015 2:34pm
Quoting Jpwhy
FSCS expects to start sending application forms to clients who have agreed their account balance on the Alpari claims portal from May 2015. We expect to start sending application forms from May 2015 onwards. Once returned, FSCS will aim to issue a decision in respect of an individuals claim within three months of receiving a completed FSCS application form. damm... I'll be lucky to get my money by xmas...
Don't know where you got that info from but on the FSCS website it clearly states "FSCS expects to start paying claims in May 2015."

See here: http://www.fscs.org.uk/news/2015/apr...-compensation/

Oh, and according to neoxis and his special sources this will be between 18th and 20th May to be precise...
  • #6,388
  • Apr 30, 2015 2:41pm Apr 30, 2015 2:41pm
Quoting sswisser
Dear people of Forex Factory! I am a complete noob in the Forex world but I got quite lucky on the Swiss. Now that I have access to the claims portal, could you please tell me if I should go with FCSC or not? I have read the thread but I don't understand your awesome terminology :/ Any help would be appreciated! Thanks : )
FSCS paid in May and FSCS pays 100% if there are maximum 50000GBP. KPMG does not pay 100%, but about robbing the money of the customers. KPMG pays only expected in July. Then FSCS must again pay for the difference. So it's easier to get the money directly from FSCS.
  • #6,389
  • Apr 30, 2015 2:50pm Apr 30, 2015 2:50pm
Quoting Jpwhy
FSCS expects to start sending application forms to clients who have agreed their account balance on the Alpari claims portal from May 2015. We expect to start sending application forms from May 2015 onwards. Once returned, FSCS will aim to issue a decision in respect of an individuals claim within three months of receiving a completed FSCS application form. damm... I'll be lucky to get my money by xmas...
This may be possible only for Joint/business accounts they need to fill a FSCS form so is likely it will take more time.


Private investors they will receive payment starting in middle may.
myfxbook: neoxis
  • #6,390
  • Apr 30, 2015 2:51pm Apr 30, 2015 2:51pm
Quoting dambuster
{quote} Don't know where you got that info from but on the FSCS website it clearly states "FSCS expects to start paying claims in May 2015." See here: http://www.fscs.org.uk/news/2015/apr...-compensation/ Oh, and according to neoxis and his special sources this will be between 18th and 20th May to be precise...
http://www.fscs.org.uk/what-we-cover...ted/#question7

When will I receive compensation from FSCS?
If your claim is eligible for compensation, FSCS will be able to pay compensation once you have agreed your claim with the joint special administrators and confirmed you want to make a claim to FSCS on the claims portal. We currently expect the payments process to commence during May 2015.
Where the client is required to complete an FSCS application form, FSCS will send the FSCS application form once the client has agreed the claim with the joint special administrators and confirmed they want to make a claim to FSCS on the claims portal. We expect to start sending application forms from May 2015 onwards. Once returned, FSCS will aim to issue a decision in respect of an individual’s claim within three months of receiving a completed FSCS application form
  • #6,391
  • Apr 30, 2015 2:53pm Apr 30, 2015 2:53pm
Quoting neoxis
{quote} This may be possible only for Joint/business accounts they need to fill a FSCS form so is likely it will take more time. Private investors they will receive payment starting in middle may.
I hope you're right..
  • #6,392
  • Apr 30, 2015 2:55pm Apr 30, 2015 2:55pm
Quoting Jpwhy
{quote} http://www.fscs.org.uk/what-we-cover...ted/#question7 When will I receive compensation from FSCS? If your claim is eligible for compensation, FSCS will be able to pay compensation once you have agreed your claim with the joint special administrators and confirmed you want to make a claim to FSCS on the claims portal. We currently expect the payments process to commence during May 2015....

If your claim is eligible for compensation, FSCS will be able to pay compensation once you have agreed your claim with the joint special administrators and confirmed you want to make a claim to FSCS on the claims portal. We currently expect the payments process to commence during May 2015.
Where the client is required to complete an FSCS application form, FSCS will send the FSCS application form once the client has agreed the claim with the joint special administrators and confirmed they want to make a claim to FSCS on the claims portal. We expect to start sending application forms from May 2015 onwards. Once returned, FSCS will aim to issue a decision in respect of an individuals claim within three months of receiving a completed FSCS application form.


This is ONLY for joint/business/special account.
myfxbook: neoxis
  • #6,393
  • Apr 30, 2015 2:57pm Apr 30, 2015 2:57pm
There are new updates in KPMG website guys
  • #6,394
  • Apr 30, 2015 2:58pm Apr 30, 2015 2:58pm
Read this Jpwhy:

Where the client is a single private investor, the client will be able to agree to FSCSs payment and assignment terms alongside the process of agreeing their claim with the joint special administrators. Once confirmed, and once the joint special administrators have agreed the amount due to the client, the FSCS will make a compensation payment direct to the clients nominated bank account or directly to their ETX Capital account if the client so chooses. In these cases, the client will not be required to complete any further FSCS paperwork.
If the client is an entity such as a company or trust, or is a joint investor, and the claim is agreed by the joint special administrator the client will be asked to complete an FSCS application form. The account holder(s) should then sign the completed form and return it along with any documentation that is relevant to the claim.

And form will be issued in may....my friend is waiting the form cause he has a company acc.
myfxbook: neoxis
  • #6,395
  • Apr 30, 2015 2:58pm Apr 30, 2015 2:58pm
Quoting WayToGo
There are new updates in KPMG website guys
Yep already talked about that. Read above thx.
myfxbook: neoxis
  • #6,396
  • Apr 30, 2015 2:59pm Apr 30, 2015 2:59pm
Quoting neoxis
{quote} Yep already talked about that. Read above thx.
ok
  • #6,397
  • Apr 30, 2015 3:06pm Apr 30, 2015 3:06pm
Quoting neoxis
Read this Jpwhy: Where the client is a single private investor, the client will be able to agree to FSCSs payment and assignment terms alongside the process of agreeing their claim with the joint special administrators. Once confirmed, and once the joint special administrators have agreed the amount due to the client, the FSCS will make a compensation payment direct to the clients nominated bank account or directly to their ETX Capital account if the client so chooses. In these cases, the client will not be required to complete any further FSCS...
Thanks neoxis, you're the smart one..
  • #6,398
  • Apr 30, 2015 3:10pm Apr 30, 2015 3:10pm
Quoting Jpwhy
{quote} Thanks neoxis, you're the smart one..
Welcome, for any query don't hesitate to ask in here. We will help us each other to understand any issue until this mess will end.
myfxbook: neoxis
  • #6,399
  • Apr 30, 2015 3:30pm Apr 30, 2015 3:30pm
Has anyone disputed the amount displayed in the claims portal?
  • #6,400
  • Apr 30, 2015 3:44pm Apr 30, 2015 3:44pm
Quoting neoxis
{quote} Welcome, for any query don't hesitate to ask in here. We will help us each other to understand any issue until this mess will end.
Hi Mate,
I have a birthday on 20th of May, do you think I will get some extra money from FSCS as a birthday gift?
That would be really nice!
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