Breaking: Alpari UK shuts down its doors atozforex.com/news/breaking-alpari-uk-shuts-doors/ #forex #breaking #news
Well…
What to say…this was a shocking way to start my day.
For now I consider all my money in my alpari accounts for lost.
On the bright side…the weekend came early this week. I cant trade with a closed down broker.
Fresh start monday morning and I will then figure out what moves to take next to stay in bussiness 
Sorry for peoples losses.
If there is any comfort…I’m at the moment broke after this event…but, there will always be another day.
Trading is high risk, and well…I guess I played by the rules and was at the wrong spot at the wrong time.
fxcm is in great trouble as well, and i can imagine quite a few others too…
Not necessarily. I have an account with FXOpen. They seemed reliable and professional, plus they always helped whenever I had any issues. After I heard about some brokers shutting down, I feared as well. But FXOpen thankfully posted a statement on their homepage, that business was going to go on as usual.
And the important thing: FXOpen has seperate money accounts - the company’s and the client’s. SO even if the company was to go bankrupt, the client’s money would stay untouched and would be transfered back to your account.
That does not account for, if you went short on the CHF. So maybe you should inquire first about how Alpari handles the money of their customers. Maybe you will be able to withdraw your funds after all.
For me, things like these are most important when choosing a broker. I’d rather miss out on a few pips or less swap, but have a stable broker who is regulated by the state.
Lucky for me I had absolutly no trades open when the event occured, so I didn’t loose anything to the market.
What I was conserned about is the ability to withdraw what was funded in my accounts.
There seems like there is a slight chance that I will get them back over time, but I do expect it to be a bumpy ride…
So…when I consider my money lost, I mean that I can not count on money that I cant withdraw right now.
Until my money is transfered back to my account if that will happen, I consider them as not existing in this matter.
And…I have learned a really great lesson from this event. I do have a few more questions for my next potential broker 
The big lesson: Be aware that stops can fail…drastically; and, therefore, don’t keep more funds in your brokerage account than you need to hold trades. Imagine if you had 50k in your account and were long 1 lot against the franc with a 50 pip stop. OK, you’re willing to lose 1% on that trade, but since your stops would have failed you would have lost a lot more. Painful.
Other thoughts: it seems like before the plunge the sentiment on the franc was short. Had it been long, perhaps Alpari would still be around. I’d like to see some MT4 screenshots from anyone who made out on this one, though. I’m sure some people were long the franc.
[B]Alpari UK[/B] may be coming back from the dead.
Apparently, they are looking for a buyer, or a “white knight” investor.
Alpari UK Reverses Formal Insolvency Process Announcement, Considering a Sale | Forex Magnates
There’s no word yet on whether they will change their name to ZombieFX.
I hope you realize that it doesn’t matter how little money you keep in your account, if your stops are gaped past and it blows your account value and then the trade is closed $4000 past your $300 account value, legally you owe the $4000 debt. It was your trade and in all brokers signup paperwork it clearly states that trading is HIGH risk and there is the potential to loss all your account or MORE then the value of your account.
This is one of those times where you could have lost more then the value of your account. The broker can’t close the trade until there is a counter-party to take the other side for you regardless of stops. Stops work when there is liquidity in the market and a counter-party who takes the other side of your stop execution. In the CHF case, those counter-parties didn’t come in until something like 2000pips later and this would have been the first time brokers could have closed your trade out for a loss. That loss is yours then. It is what we all signed up for in the T&C’s when opening the account
Or, maybe not.
From [I]Forex Magnates[/I] —
[B]Update: New Announcement on Alpari UK Website[/B]
“Upon the application of the directors of Alpari (UK) Ltd, on Monday 19 January 2015, the High Court appointed Richard Heis, Samantha Bewick and Mark Firmin of KPMG LLP as joint special administrators of Alpari (UK) Ltd, under the Special Administration Regime (SAR). Alpari (UK) Ltd is a company incorporated in the UK.
[B]Alpari (UK) Ltd applied for insolvency on Monday 19 January 2015[/B] following the decision on Thursday 15 January 2015 by the Swiss National Bank to remove the informal peg to the euro at around 1.20 Swiss francs. The announcement by the SNB prompted volatility across the foreign exchange markets which saw the company and many of its clients make large losses. After a weekend spent in urgent discussions with various parties with a view to selling the company, these efforts were ultimately unsuccessful.
We have had a number of enquiries from interested parties in relation to the company’s business. We will be speaking with these parties and others over the next few days, and hope to secure a deal to preserve the business and jobs as far as possible.
For all queries, please contact:
<[email protected]>
The administrators will endeavour to respond to your query as soon as possible.”
Article —
Alpari UK Placed in Special Administration by FCA as No Deal Has Been Reached | Forex Magnates
If you’re interested in the fate of Alpari-UK, here are two articles you should read:
FCA Sheds Light on Alpari UK Administration with Response to Key Questions | Forex Magnates
Exclusive: Alpari UK Should Have Shut down a Year Ago Says Majority Owner | Forex Magnates
The client money position is being under assessment. Read this: FCA has News for Alpari UK clients | AtoZ