ALPARI is gone - forever...

https://www.fca.org.uk/consumers/complaints-and-compensation/how-to-claim-compensation

1. I have 2 account on Alpari UK server Market-MENA ; 1st account = 52,122 US$ & 2nd account 30,840 US$, after this SNB case and Alpari saying they are having insolvency, could all of my money from my 1st account and 2nd account be withdraw?

2. How to withdraw my fund? since their website (especially MyAlpari login which is for withdrawing) couldnt be accessed>?

I'm really sad hearing alpari uk having insolvency :(

This is what you (and I) have to do , if you have fund in Alpari.

https://www.fca.org.uk/consumers/complaints-and-compensation/how-to-claim-compensation

https://www.fscs.org.uk/news/2015/january/information-regarding-alpari-uk-limited/

I filed a same day withdrawal with Alpari Friday morning before the announcement. It didn't get actioned even though I got the email saying it had. I guess it's down to the long, laborious compensation system. Be warned these things can take months and sometimes years.

Don't count on having it any time soon. I was once taken out of the game for 18 months waiting for compensation.

For anyone that isn't broker diversified I guess this is a good lesson for you. I use 10 brokers at a time, which is a total pain but Thursday's events show why such an approach is prudent.
Best regards Steve

so when a broker says that your money is into a segregated acc is it true or not ?

rob559 posted:
so when a broker says that your money is into a segregated acc is it true or not ?

It is is very true . But it does not mean your account is safe ,it is not because your broker tries to steal your funds , when an unexpected event occurred like Swiss franc losses few days ago , most of the accounts of traders went negative , a whole segregated account would have been wiped out . Your account would be affected , even you made a lot of profits .

stevetrade posted:
For anyone that isn't broker diversified I guess this is a good lesson for you. I use 10 brokers at a time, which is a total pain but Thursday's events show why such an approach is prudent.
Best regards Steve

Of course diversification is an excellent strategy - if you have the funds! I never have enough funds to diversify beyond one broker though...

You must be loaded! 😲 😎

Wats alpari? Is that a broker?

'The board of directors are urgently considering all options including a sale' as said in the latest announcement.
Maybe it could be a light in the dark night ! :)

This is the latest announcement on Alpari UK site

'
Important announcement

The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional volatility and extreme lack of liquidity. Retail client funds continue to be segregated in accordance with FCA rules. For the avoidance of any doubt and notwithstanding previous announcements by the company, Alpari (UK) Limited has not entered a formal insolvency process. The board of directors are urgently considering all options including a sale and are liaising closely with the FCA. We hope to make a further announcement shortly.'

tchutchuco posted:
This is the latest announcement on Alpari UK site

'
Important announcement

The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional volatility and extreme lack of liquidity. Retail client funds continue to be segregated in accordance with FCA rules. For the avoidance of any doubt and notwithstanding previous announcements by the company, Alpari (UK) Limited has not entered a formal insolvency process. The board of directors are urgently considering all options including a sale and are liaising closely with the FCA. We hope to make a further announcement shortly.'

Yea..I think they will bust but just delaying.

I think they've read the news about FXCM and about brokers such as Gain Capital looking to sweep up the losers and decided to try and salvage something. Poor PR job by them.
Best regards Steve

BluePanther posted:

stevetrade posted:
For anyone that isn't broker diversified I guess this is a good lesson for you. I use 10 brokers at a time, which is a total pain but Thursday's events show why such an approach is prudent.
Best regards Steve

Of course diversification is an excellent strategy - if you have the funds! I never have enough funds to diversify beyond one broker though...

You must be loaded! 😲 😎

I wish, I have enough to find 10 brokers though. Doesn't take that much.
Best regards Steve

They won't be the last ones.....

A pity about Alpari, they were very decent service providers. I understand FXCM is also off balance.

Robo forex is still alive...
But in fact, how can we choose another good broker for continue trading from now??!!

https://www.roboforex.com/about/news/comment-chf-situation-01-2015/422/

Alpari UK is in hectic acquisition negotiations with a number of potential buyers and the sale of the broker will be announced in the next few days.

It has also been revealed to us that the amount of negative client balances Alpari UK is on the hook for is about $45 million, while the firm’s client equity is estimated to be around $100 million. The breakdown of the negative exposure is $20-$25 million in liabilities and about $15-$25 million in regulatory capital shortfall.

The identity of the potential buyers has not been revealed yet but there are a number of brokers who announced they are using this opportunity to take over fallen competitors.

The news of the imminent sale comes after the UK branch of this large Russian broker reversed its insolvency process announcement in a surprise move last night.

Virtually all brokers have been releasing updates over the weekend about their reaction to the game-changing floor drop by the Swiss National Bank (SNB). While some faced losses, others made it clear that they are on the hunt for new business, either by targeting clients directly as a marketing strategy or by expressing interest in acquiring assets from failing market participants.

The most recent news is that FXCM (NYSE: FXCM) is now using its $300 million from Leucadia National to not only cover losses but to expand by taking over the business of Alpari UK. - See more at: https://forexmagnates.com/forex-industry-battles-eurchf-meltdown-real-time-updates/#sthash.xuw4PdbN.dpuf

stevetrade posted:

BluePanther posted:

stevetrade posted:
For anyone that isn't broker diversified I guess this is a good lesson for you. I use 10 brokers at a time, which is a total pain but Thursday's events show why such an approach is prudent.
Best regards Steve

Of course diversification is an excellent strategy - if you have the funds! I never have enough funds to diversify beyond one broker though...

You must be loaded! 😲 😎

I wish, I have enough to find 10 brokers though. Doesn't take that much.
Best regards Steve

At this stage will be helpfull to know some of your broker to take a look if you don't mind, I think a part the fact that we have to recover our money we also need to think which broker next.... thanks