• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Anybody using Alpari UK (Forex broker)?

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Anybody using Alpari UK (Forex broker)?

    They are not feeling well at the moment...

    #2
    Looks like they got cooked by the swiss bank move.

    Considering they did 190 billion business last month, its pretty scary how much cash they had.
    Vote Corbyn ! Save this country !

    Comment


      #3
      Originally posted by fullyautomatix View Post
      its pretty scary how much cash they had.
      Not enough...

      Comment


        #4
        Originally posted by AtW View Post
        Not enough...
        Supposedly most of their former customers owe more money than is sat in their accounts. Going bankrupt allows someone else to chase the money owed and ensures their name isn't tarnished with the task of chasing people for their loses...
        merely at clientco for the entertainment

        Comment


          #5
          Originally posted by eek View Post
          Supposedly most of their former customers owe more money than is sat in their accounts. Going bankrupt allows someone else to chase the money owed and ensures their name isn't tarnished with the task of chasing people for their loses...
          Margin Calls can be deadly...

          Marginal trade should be banned. You've heard it on here first.

          Comment


            #6
            Originally posted by AtW View Post
            Margin Calls can be deadly...

            Marginal trade should be banned. You've heard it on here first.
            Yep but I'm surprised how this effects people. Why on earth would you be betting on the CHF when its moved in lockstep with the euro for years....

            If you were going to bet on it the only approach would be to bet on the CHF against the euro....
            merely at clientco for the entertainment

            Comment


              #7
              Originally posted by eek View Post
              Yep but I'm surprised how this effects people. Why on earth would you be betting on the CHF when its moved in lockstep with the euro for years....
              Carry trade tulipe probably, fixed rate made it equivalent to trading euros but with benefits of having franks.

              I am curious to see if those who Alpari owes money would try to go after their clients, or the risk of the clients is limited to their deposits, some of them may have made lots of dosh by betting the other way and now they are probably crying with the others who lost their money

              Where is SantaClaus and other dirty Forex spekulants when you need 'em?

              Comment


                #8
                Originally posted by AtW View Post
                Where is SantaClaus and other dirty Forex spekulants when you need 'em?
                Trying to figure out where all their money went?

                Comment


                  #9
                  Interesting day in the markets on Thursday. 2500 pip drop on the EUR/CHF in seconds which is unprecedented. A lot of retail accounts got wiped. Luckily I don't trade that tulip.

                  EURCHF screenshot

                  Alpari are now insolvent.
                  FXCM lost 90% of their share value last time I looked.
                  IGIndex will be trying to recoup £30M of losses from client accounts that went negative- good luck with that!
                  I don't think the broker fallout has ended yet either.

                  For a long time, retail traders thought buying the "floor" at 1.2000 (that very long horizontal consolidation area) in EURCHF was guaranteed money as the SNB had "capped" the currency at that level...

                  That was until the SNB removed the floor

                  I don't know who was on the other side of the trade, if anyone. That massive spike down exists because there were no or very few buyers at those prices - it's like a vacuum. The algos probably closed out positions (selling) when the news was announced. I swear the market moved seconds after it came through on my squawk.
                  Last edited by SantaClaus; 17 January 2015, 00:29.
                  'Orwell's 1984 was supposed to be a warning, not an instruction manual'. -
                  Nick Pickles, director of Big Brother Watch.

                  Comment


                    #10
                    Originally posted by tomtomagain View Post
                    Trying to figure out where all their money went?
                    We can safely rule out taxes for sure...

                    Comment

                    Working...
                    X