Will alpari UK clients get their money back?

Will alpari UK clients get their money back?

It depends where it is domiciled:

Investor compensation schemes – are you covered? | Monevator

If in the UK, then you should be able to apply for up to £50,000 of compensation, depending on

individual funds lost and circumstances.

Were you a ‘Swiss-gate’ victim?

Hopefully, client funds are segregated, i cant look up my contract because their website is down and i dont have a copy of it, anyone have a contract they can look at? because someone on forex factory was talking about clause 6.4 where if you didnt write to tell alpari that you didnt want them to move your funds to a subsidiary or third party or offshore then they had the right to. anyone got a contract they can check this?

Does anyone know if opening 4 accounts with £50,000 each on the same broker would give me more protection? is it £50,000 per person or account which is protected?

Read the linked article, it is explained in there with a diagram as well as text.

:slight_smile:

Thank you! I just saw its per person so on that topic. What is the best way to ensure maximum protection? Open with multiple brokers? or get other members of family to open a broker account so its a different name?

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