Alpari UK Announces Insolvency

doublechin · Jan 16, 2015

http://www.telegraph.co.uk/finance/...Ham-shirt-sponsor-Alpari-out-of-business.html

Another one bites the dust

doublechin · Jan 16, 2015

http://www.alpari.co.uk/client-updates/notifications/posts/2015/january/important-announcement

ronblack · Jan 16, 2015

"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."

When you offer 100:1 leverage you should expect this to happen to you one day. The cause could be anything.

southall · Jan 16, 2015

ronblack said:
When you offer 100:1 leverage you should expect this to happen to you one day. The cause could be anything.

Alpari website says they were offering 500:1 leverage on forex.

Rough Trade · Jan 16, 2015

game over !.. wow.. i have an account with them..

Rough Trade · Jan 16, 2015

...yeah right...

smallStops · Jan 16, 2015

The leverage was not the problem. I guess they had most of the traders on the wrong side,
some with no stop losses.

ExperiencedJoe · Jan 16, 2015

smallStops said:
some with no stop losses.

You just don't get it. The illiquidity makes all stops useless. No bank wanted to fill the stop orders, get it ?

It's funny that so many people don't understand there is the other side to the bet. When the other side doesn't want to play ball, you are f***ed.

smallStops · Jan 16, 2015

ExperiencedJoe said:
You just don't get it. The illiquidity makes all stops useless. No bank wanted to fill the stop orders, get it ?

It's funny that so many people don't understand there is the other side to the bet. When the other side doesn't want to play ball, you are f***ed.

Oh!!! Thus I missed a great learning opportunity where all the limit orders disappeared.
May I ask : did you experience this event negatively ( aka losses)?

I am sure those on the right side managed to get out.

ExperiencedJoe · Jan 16, 2015

smallStops said:
Oh!!! Thus I missed a great learning opportunity where all the limit orders disappeared.
May I ask : did you experience this event negatively ( aka losses)?

No, I was a winner on short cad/chf. Had to wait a few hours before I could close out my profit. For a moment, I thought my bucketshop had gone belly up.