11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
I never had a problem with this broker. IB Broker opened in my country, Indonesia, so I can do local transfers and local WD. Alpari IB Customer Service in Indonesia are very friendly and tried hard to help me to solve my problems, I can make local calls and they are also quickly reply to my emails. Live chat often have to wait a long time to get a response. There's only annoying problem is an internal transfer. Internal transfers can not be done automatically so often wait a long time for execution.
NFA issues $200,000 fine against New York forex firm Alpari US LLC. July 26, 2012
'The Decision, issued by NFA's Business Conduct Committee, found Alpari violated several NFA requirements, including improperly cancelling forex trades and removing profits from customer accounts, failing to timely report trade data and other required information to NFA, failing to observe high standards of commercial honor, failing to comply with NFA's Enhanced Supervisory Requirements and failing to keep accurate records.'
NFA issues $200,000 fine against New York forex firm Alpari US LLC
July 26, Chicago - National Futures Association (NFA) has ordered Alpari US LLC, a futures commission merchant and forex dealer Member located in New York City, to pay a $200,000 fine as a result of an NFA Complaint filed in June 2012 and a settlement offer submitted by Alpari and two of the firm's principals, Jermaine C. Harmon and Richard A. Lani.
The Decision, issued by NFA's Business Conduct Committee, found Alpari violated several NFA requirements, including improperly cancelling forex trades and removing profits from customer accounts, failing to timely report trade data and other required information to NFA, failing to observe high standards of commercial honor, failing to comply with NFA's Enhanced Supervisory Requirements and failing to keep accurate records. The Decision also found that Alpari - together with Harmon and Lani - failed to supervise.
In addition to the $200,000 fine, Alpari is required to refund within 30 days to customers losses they incurred as a result of the price adjustments that Alpari made to their accounts in connection with an October 2011 'market event.' Alpari must also provide verification to NFA that these refunds were paid to and received by customers.
Alpari must also submit a written report to NFA within 180 days of the effective date of the Decision which documents the results of an independent review of Alpari's electronic trading platforms conducted by a qualified outside party and the steps Alpari has implemented to remedy deficiencies with the firm's internal controls.
Alpari, Harmon and Lani neither admitted nor denied the charges. The complete text of the Complaint and Decision are available on NFA's website.
Looking to close out my accounts with them. I suspected them to be playing funny games with stops (way too many funny dips/ spikes). So today i placed a small (0.25 lot) EU short (start of the Asian session), saw it go into a 11p plus and then slapped a SL on, within 10/20sec the price started to move higher AND the spread expanding. Then i placed another sell and guess what?? Indeed, re-quote! Removed the SL and the price went lower again. Before stating that a broker does not do this because they would rather have a happy client, i would like to submit that a couple of K here and there adds up. Esp. if your balance total comes to to approx. 5M (another reason for the search for new brokers).
The worst part of this all? I see this stuff on the Pro account as well (got 2 of those) and that is where the bigger $ come from.
So, hide your SLs and limit orders and be warned .. ;-) I suppose they are ok for normal retail use but keep in mind they do like your account and when asked outright to confirm they DID NOT use the Virtual Dealer plugin i never received an answer, although another question in that same mail was answered .. ;)
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