I applied to become an introducing broker with Alpari and received an email stating that my application was rejected.
When I contacted them (Jennifer Granholm) inquirying why, I was told that she could not tell me why. At first I thought I heard her wrong. She however was very clear that she would not tell me why.
She then requested that I seek NFA registration, which however, is NOT REQUIRED by Alpari US to become an introducting broker. I asked again just to verify if that was mandatory for becoming a US broker - she said no.
The conversation got more disturbing as I requested a reason for my application being rejected. She kept citing ‘internal criteria’ without saying what that meant. Prior to submitting it, I asked every question in the book to Andrew Schmitt to ensure that my efforts werent wasted.
Jennifer being unable to handle my heated interrogation (I was hot!!) got her supervisor, Sabina Ahmed, who launched into the NFA spiel.
I asked her if it was required. She said no. She then went making a comment about the patriot act, bank secrecy yada. I asked if i was on a terrorist list or something. And she said no. Soooo why was i rejected again? And again ‘we cant tell you’.
I said is it because I’m a woman, race, creed - what??? She said no but again REFUSED TO PROVIDE A REASON for rejecting my application. She then said they are concerned about the types clients solicited and may get audited etc and they would prefer that the NFA absorb the liability yada.
The problem is that my application clearly states that 1) I would not be soliciting new clients since I already have a client base and 2) if Alpari was that concerned, then make NFA registration a requirement for everyone, not just an arbitrarily selected few. The reality is that all of the aforementioned ‘excuses’ were bogus fluff in regards to MY application.
This is totally unacceptable. I requested that Sabina send me an email stating that I was rejected for reasons undisclosed. I am waiting for it to arrive. I need to understand why “Bob next door’s” generic application was accepted and my generic application wasn’t. And why Bob is allowed to make commission and Im not.
If there is anyone that has applied to become an introducing broker with Alpari and was arbitrarily rejected, please contact me and also share it on this thread. Maybe Alpari can discriminate freely in other countries but such practices are totally reprehensible, here in the US.