Death of an FX punter

by
Paul Murphy
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terriegym:

Ive came back to my computer and Alpari have closed all my trades, loosing over $1000 off of my current balance, anyone got any idea what may have happened!!! they arent answering the phone!!

ChattiFX:

Same thing has happened to me… trying to open a trade manually it says that trading is disabled…

Duk74:

Alpari have closed my short Eur/Usd trade and are not answering the phone!!!!

terriegym:

they closed my eur/usd gbp/usd when i was in the kitchen and a few seconds later my usd/jpy disappeared in front of my eyes!!!

Lord Flasheart:

probably a computer error or worse a cyber attack. Probably too busy to answer the call. It normally works out ok. its happened to me in the past and the broker has settled in my favour.

terriegym:

I hope so, have just come back into trading after a while. done quite well in last 3 weeks. this has really upset me now!

ChattiFX:

Bigger issue is that I run an EA on a number of pairs which takes a couple of weeks to dial in and so I’ll be starting from scratch again. And might end up absorbing a few losses for a couple of weeks before seeing profit again… Which is annoying :/

Maybe something to do with yesterday’s news…?

terriegym:

i had a floating loss that i was going to work on today. and just put my morning trades on which every one have now gone in my favour, but seeing as they got shut down thats no bloody help, guess ill start again then!

Lord Flasheart:

this is getting worse by the minute

Duk74:

Alpari has entered into insolvency!!!

This is not satire. This is the real financial world.

From Alpari:

The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional volatility and extreme lack of liquidity. 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. This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rule.

About Paul Murphy

Paul Murphy is the founding editor of FT Alphaville and an associate editor of the Financial Times. He joined the FT in London in 2006 as development editor of FT.com, concentrating on the expansion of the online business. Prior to that, he served as the Guardian’s financial editor for seven years. He has also held senior positions in business journalism at the Sunday Business newspaper and the Daily Telegraph. Murphy is a graduate of the London School of Economics.

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