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Alpari UK enters insolvency


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Alpari UK enters insolvency

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  #1 (permalink)
Nicosia, Cyprus
 
 
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Statement as it was posted on Alpari UK website:

Quoting 
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. This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules.

Important announcement

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  #3 (permalink)
Legendary Market Wizard
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On BBC news:

BBC News - Alpari UK currency broker folds over Swiss franc turmoil

Seems to be one of them..
2nd according to the article: Global Brokers NZ
Further victims will be seen soon.

GFIs1

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  #4 (permalink)
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we will see if the segregated account-system/structure in the FX world holds

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puma View Post
we will see if the segregated account-system/structure in the FX world holds

Yes, I have 24,000$ in an Alpari UK account myself

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fido View Post
Yes, I have 24,000$ in an Alpari UK account myself

Sorry to hear, Sir.

Try to network with other affected customers - that's what I would do.

Maybe a group is forming somewhere.

There are other boards, like futures.io (formerly BMT) more focused on FX.

good luck to you.

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fido View Post
Yes, I have 24,000$ in an Alpari UK account myself

Clients accounts are segregated, so no need to panic for now, IMVHO.

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@fido


Quoting 
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.

Important announcement

looks to me , some buyer stepped up and they stopped the insolvency process

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puma View Post
@fido



Important announcement

looks to me , some buyer stepped up and they stopped the insolvency process


Breaking: FXCM Emerges as Potential Buyer for the Business of Alpari UK | Forex Magnates

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  #10 (permalink)
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FXCM is a buyer ? lol

I call this a "reach-around"


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