KPMG fees charged to Alpari UK administration top $15M, as $48M has been returned to clients LeapRate

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In April, Alpari brand acquires a licence from Mauritius Financial Services Commission (FSC) and launches Alpari International! As the newest member of the Alpari family, we start accepting clients by offering over 70 popular forex, CFD and metal products on the MT4 platform. Growth continues to be proved by numbers as Alpari is now the world’s third-largest Forex broker in terms of client trading volume according to Forex Magnates. The average monthly trading volume at Alpari in 2011 was more than 202 billion USD.

Choose from Alpari Mobile, our easy, yet powerful mobile app, or MetaTrader 4 or 5, the world’s most popular feature-rich platform with advanced charting and analysis. Manage your account and trades, across all instruments and assets, on your favourite platform. Alpari UK, which signed a £9m, three-year deal with West Ham in 2013, said it was insolvent on Friday after many of its clients sustained losses that exceeded their account equity, with the company then forced to foot the bill. Funds held on behalf of clients were kept in separate accounts, as required by Financial Conduct Authority rules, and KPMG said $98.5m would be returned to customers. The dedicated e-mail address and call centre for enquiries will no longer be in use from June 18, 2018. KPMG has provided contact details for the Insolvency Service regarding unclaimed dividends and for the FSCS for clients who have not as yet assigned their claim and may wish to do so.

  1. Choose from more than a dozen regional and global payment options to safely and easily deposit or withdraw your trading funds.
  2. The ‘Gold account’ is unveiled, allowing clients to trade on an account denominated in a currency tied to the price of gold.
  3. Take advantage of both rising and falling prices with Stocks CFDs from a leading global broker.
  4. KPMG has provided contact details for the Insolvency Service regarding unclaimed dividends and for the FSCS for clients who have not as yet assigned their claim and may wish to do so.
  5. Open an account and get instant access to trade ideas, analysis and personal support.

To date, 14,068 clients have agreed their claim representing 94.7% by value of clients with a claim into the client money pool. There are 156 clients who have disputed their claim with a value of $1.7 million. KPMG has paid a total of about $49.9 million from the client money pool in respect of https://xcritical.pro/ 11,209 clients, representing approximately 51% of the CMP (client money pool). But our dedication to building a product and service clients value is regularly recognised by our customers and industry peers. We focus on serving regions often overlooked or underserviced by other trading brokers.

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During a telephone discussion with Forex magnates on Friday, the regulator said that it was monitoring the situation but was not in a position to make a statement. The FCA also reiterated the measures investors should take if their funds have been affected and if the amount falls within the threshold of the Financial Services Compensation Scheme. In December, the Alpari family celebrates another ultra-successful fiscal year, recording upwards of $1.3 trillion in trading turnover throughout 2017. This marks the latest company record, a 29% improvement compared to the previous year. Alpari is voted the “Most Innovative Broker” overall and the “Most Reliable Broker” in the field of binary options at the prestigious FX Empire Awards. The brand opens offices in Mauritius, which becomes the headquarters of Alpari International.

Reasons to trade with Alpari

Before investing in foreign exchange, carefully consider your level of experience and risk appetite. CFDs are complex instruments and bring high risk of losing money because of the leverage they provide. No information or opinion contained on this site should be taken as investment advice, personal recommendation, or an offer of, or solicitation xcritical official site to buy or sell, any financial instruments. Past performance should not be considered evidence or guarantee for future performance. Alpari is one of the longest-established and most trusted global financial trading brands. Established in the early days of the internet in 1998, we were the world’s first online platform for independent traders.

OKX retires ‘Okcoin’ brand in Europe amid global transition

Building on our entrepreneurial roots 25 years ago, we now offer a comprehensive trading service that aims to provide traders of all kinds with a gateway to global opportunity. In April, the brand launches the groundbreaking ECN account – allowing retail clients to trade with the same powerful conditions as professional traders from the world’s leading banks and financial institutions. The special administration regime was introduced in the wake of the Lehman Brothers collapse to ensure the failure of an investment firm results in the minimum of disruption to financial markets.

Alpari Group

Over 1 million people have chosen to trade with Alpari over the last 25 years. Take advantage of both rising and falling prices with Stocks CFDs from a leading global broker. Trade FX with great leverage, no commission options, and spreads from zero.