West Ham sponsor Alpari in administration after rescue talks fail Investments

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Forex Magnates lists Alpari as one of the five largest Forex brokers in the world in terms of trading volume. The ‘Gold account’ is unveiled, allowing clients to trade on an account denominated in a currency tied to the price of gold. Meanwhile, the awards keep coming as Alpari UK is named “Best Execution House” in the “Foreign Exchange” category by World Finance UK. Alpari completes the transition into full online trading, moving all live trading to MetaQuotes’s MetaTrader platform.

The combined monthly trading volume of companies working under the Alpari brand reaches an all-time high of 210 billion USD. Growth is unstoppable, and as the Alpari brand reaches the 25,000 client milestone, the brand begins to expand worldwide with licenses xcritical official site issued for Alpari UK and US. Access to hundreds of instruments across the FX, Metals, Commodities, Indices, Stocks and Crypto markets. Additionally, KPMG has considered definitions of client, and what the insolvency means for clients with open positions.

The administrators have now repatriated all house balances to the special administration estate, totalling £7.8 million. In a statement, KPMG said that Alpari and many of its clients had suffered large losses in volatile foreign exchange markets. Despite a weekend of discussions with potential buyers, it had been unable to secure a deal. The brand launches its Alpari Mobile application, which conveniently enables clients to keep up with the latest news, get real-time currency quotes, and manage their finances directly from their iOS mobile devices.

The world’s fourth-largest cryptocurrency exchange by trading volume has appointed Erald Ghoos as the General Manager for Europe. KPMG has filed a copy of the progress report with the Registrar of Companies together with the requisite notice. The special administration will cease to have effect when the Registrar of Companies registers these documents. In keeping with correct practice with regard to insolvency, Alpari UK’s official administrator KPMG has issued a series of frequently asked questions relating to the special administration which applies to Alpari UK. Charles Schwab has expanded its trading services with the addition of futures and forex trading to its thinkorswim platform suite. The Joint Special Administrators of KPMG have earlier today posted their final progress report into the administration of now-defunct retail FX broker Alpari (UK).

  1. 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.
  2. Alpari decides to harness new technology and move their trading online, by joining forces with the MetaQuotes platform.
  3. Over 1 million people have chosen to trade with Alpari over the last 25 years.
  4. From 19 July 2015 to 18 January 2016, KPMG claims to have incurred time costs of £3,199,798.

In the same vein, Alpari’s management starts negotiations with the country’s leaders on how to create a financial centre in the Indian Ocean. The one millionth client registers with Alpari – a huge milestone for the brand. The forex market continues to grow, and Alpari’s Moscow office opens. At present, KPMG estimates that the overall return to clients will be in the range of 75.0 cents to 80.8 cents in the $ (USD). To date, 94,355 clients have access to the Claims Portal representing 99.8% by value of clients. Alpari Shenzen has been successfully deregistered and a sum of £3,108 remitted to Alpari UK.

Daily Updates from FinanceFeeds

The US National Futures Association (NFA) recognises Alpari (US), LLC as a Futures Commission Merchant. Alpari (US) is also licensed as a broker by the US Commodity Futures Trading https://scamforex.net/ Commission (CFTC). Alpari and the Prime-Tass Agency of Economic Information sign an agreement that will allow Alpari to offer economic data from Dow Jones Newswires to its clients.

KPMG has charged more than $10 million in fees to Alpari UK bankruptcy administration

The crypto industry, under regulatory scrutiny, seeks a tailored compliance strategy to address unique cybersecurity risks, emphasizing the need for innovative, sector-specific regulatory frameworks. The Federal Court of Australia has appointed liquidators for Prospero Markets Pty Ltd, a retail over-the-counter (OTC) derivatives issuer, as top officials face charges related to a money laundering scheme exceeding $200 million. Due to a migration of services, access to your personal client area is temporarily disabled. An alternative Alpari website offers services that are better suited to your location. Capping off the innovative streak is the introduction of binary options trading in September.

The Alpari International Story

Choose from more than a dozen regional and global payment options to safely deposit or withdraw your trading funds. With fully segregated client funds, backed by top-tier banks and award-winning service. Alpari Comoros does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.

To date FSCS have taken assignment of 9,693 client claims and have paid compensation amounting to USD 36.6 million in respect of 8,660 clients. The report concerns several important matters, including the progress on return of client funds and proceeds from selling of Alpari UK’s assets. All matters within the special administration have now been dealt with and KPMG has applied to cancel the FCA registration of Alpari (UK). In the same year, Alpari is granted licensing from the Bank of Russia, further xcriticaling the brand’s status as one of the most dependable brokers in the region. Alpari UK begins serving Japanese clients after acquiring CMS Japan KK and signs a sponsorship deal with London football club West Ham United in July. It sponsors one of the largest events in the world of forex; the London Investor Show.

At Alpari, our mission is to ensure that everyone has the freedom to succeed, especially those with limited experience or just starting out. For you, we provide a full online educational service, a customer service hotline in your local language and the confidence to start trading, knowing we have your best interests at heart. All with the confidence you’re joining a trusted global leader, with over 25 years’ experience – and more than 1 million clients worldwide. Okcoin Europe Ltd. has announced its rebranding to OKX to align the European operations with its global brand.

The new trading software is user-friendly and offers plenty of innovative features for clients. Amid widespread chaos in Russia, a small group of men are looking into starting a business in finance in one of the most economically precarious years in the country’s history. The government has defaulted on its loans, the rouble is in decline and the stock market is on the verge of total collapse.

West Ham sponsor Alpari in administration after rescue talks fail

On the 13 month anniversary of the January 15, 2015 Swiss Franc spike which started the story, KPMG has issued its Second Progress Report on its work recovering and disbursing Alpari UK monies (see link below to complete report).