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Alpari India

Discussion in 'Scam Alerts' started by Dexter Figg, Aug 2, 2011.

  1. Dexter Figg

    Dexter Figg Recruit

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    This is about the Alpari UK office in India. Does anyone have anything to share about this company? I have been trying to open an account with them since June 24th. Alpari UK just sems to keep passing the buck to the India office that passes it back to the UK office.

    I have proven that I make profitable trades (40% per month) with low leverage. Do any of you think they don't want traders who win like 13 to 20 trades in a row and no more than 2 consecutive losing trades in between?

    This means, with a strict trading strategy and trading just one lot (for instance) if I make 10 wining trades and then 2 losing trades my total profit will be 9 profitable trades (keeping the lot and PIPs earned constant for all orders).

    I recently applied for a live account that could be used to offer money management services. I can earn a minimum of 5 percent per week for any account I manage. But there is a limit to how many lots I can trade. So the number of managed accounts for me is limited too.

    I have done this month after month on demo platforms. Could this be a deterent for any broker to open an account for me? I did speak to a representative in India yesterday and he agreed that they hedge my trades and if I make a loss they profit and vice versa. Please answer honestly.

    Soething about their traders contest. How transparent do you think it is. I mean, I saw people making as much as 4300% profit! but these people just won the 200 USD prize.

    They calculate drawdown, profit factor, etc things that are not available to the general public. THey use these parameters to allot points that is tabulated in descending order.

    I made a profit of just 52.215 % with 7 days of trading and my results showed 0 profit factor (actually it was 3.32), 0 maxial drawdown (8.95%), my results showed 0,0,0 for all the categories.

    Since the person who made 4300% profit came 10th is it not better for Alpari to publish the results as it appears in the statement so we can judge for ourselves? by withholding this data they are at liberty to pick and choose who whty want to give the prize away to, if they are real people at all.

    Im just being skeptical I know, but in such a case where transparency is lacking, one can only doubt that there was a prize given away at all!

    Please comment.
     
    #1 Dexter Figg, Aug 2, 2011
    Last edited: Aug 2, 2011
  2. Alpari

    Alpari Alpari Representative

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    At Alpari UK Client Services, we answer 100% of calls that we receive during our business hours (07:00 – 22:00 UK time).
    If you experience difficulties contacting one of our Indian offices, please forward your query to Alpari UK Client Services where we have a dedicated team for clients from India.

    We welcome clients of all backgrounds provided they send us the required documentation as deemed necessary by the FSA.
    There is absolutely no link between the operation of your demo account and the success of your application for a live account.
    We do not monitor demo accounts for profitability, nor do we discriminate against any demo account holders with particular trading styles and strategies.

    As for the Traders’ Contest, participants are genuine, as are the prizes on offer.
    The winners are obligated to participate in the PR events organised by Alpari UK in relation to the Contest.
    Some participants did indeed perform very well.
    It is true that the profit factor is not the only consideration in our calculation. We have devised a formula which incorporates various factors that we consider to be vital for responsible trading. The formula is disclosed in the Terms and Conditions of the contest.

    If you have specific queries regarding our services, please contact our Client Services team (Contact Us - Alpari (UK)) who will be happy to assist you.

    Alpari UK
     
  3. despe906

    despe906 Recruit

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    beware

    @Dexter Figg

    Please search this Scam Alerts Folder for Alpari topics and chose another broker if you only can. Alpari may cancel your trades if they don't like your profits. Good luck and happy trading.

    d.
     

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