Alpari already set-up new shop yesterday and is accepting deposits of any size. Sounds like a desperate move to me.
Where, what, why…huh?
Really, they already set-up new shop yesterday? I haven’t read or seen anything about it. Either way, stumbled upon an interesting article, mentioning that the SAR will assess the client money position. FCA has News for Alpari UK clients | AtoZ
What do you mean?
EItherway, the FCA has been sending out emails, requesting Alpari Uk’s traders to provide details for their claims. According to this article that I have found: Alpari UK FCA Administrator requests details for the claimsAtoZ Forex
However the process takes up to a staggering 8 weeks or more.
That is a VERY quick process of creditors getting their money back for a company who has declared bankrupcy.
8 weeks to get the money is a whole lot better then never getting anything back!
8 weeks for the receivers or whoever oversees the bankruptcy proceedings to confirm each customers real financial standing while protecting those customers from the company debt is fast!
Guys, I wanted to share with you some news in regard to the administration process. According to the article: Details on KPMG's Confidential Information Memorandum on Alpari UK | AtoZ There has been good news announced for traders to get their money back, hopefully it is a full return. However, there is also bad news for traders how had a negative balance.
Although it was reported that the administration process would take up to 8 weeks, however I can’t sit still and not neglect the news articles. Interestingly, I read a nice article on the KPMG/Alpari report and their statement upon the progress, its from Alpari/KPMG progress report | AtoZ
I think they are working on it, so let’s hope they can finally get their money back.
Well they have to, now it seems like the Alpari Group has bought the intelectual properties; Alpari RU announces exclusive deposit bonus for ex Alpari UK clients | AtoZ . What do you think of this exclusie retention discount? Quite unnecessary in my opinion.
KPMG have an update today. Claims portal will pay out in dollars probably at a rate of 1.51 to the pound.
Hey, Mr. quickbuy, thank you for notifying me the update of KPMG. I must have overlooked it.
yes they will indeed get their money back - Beau
Anyone here in the lucky first 500 to claim their money from the claim portal? KPMG are a scam, they have looked at all the paperwork for 8 weeks and yet say this “The Joint Special Administrators are not currently able to confirm whether
there will be sufficient funds in the Client Money Pool to pay out your Client Money Entitlement in
full.” They just released a 45 page document detailing every little detail except they still dont know if there is enough client funds to pay back all of us clients, what a fraud, Also why do we the clients have to pay back KPMG to pay back our money, how much are they going to charge? its a simple task it would take basic office temps two weeks to do.
Hey Thanks for the notification…NO, I haven’t got selected either for the 500 by the randam selection pool. It surely is a ridiculous update after the staggering period. According to the article KPMG launches Claims portal for Alpari UK clients | AtoZ The traders who had open positions are even in a longer cue to redemption.
Guys, are you up to date with the latest news on the administration? The FSCS is going to offer compensation aside the JSA Alpari UK clients to be compensated by UK’s compensation scheme - AtoZ ForexAtoZ Forex
I think they need to pay back their clients their money. An watching how it will all go about. Many loosed so much in the market tragedy of usd/chf and hopefully they will be at least compensated.
Did any of you get access to the claims portal that KPMG setup?
If you didn’t get invitation you are required to submit a claim.
I didnt have access, some people who didnt have open positions had access tho. The fscs will pay out and so will kpmg, fscs supposedly will be the faster payment. meeting on the 12th march.