Alpari UK SCAM ?

Dron

Recruit
Messages
7
I would like to rise several issues against Alpari UK.

I installed EA system for the Alpari Demo MT4 platform. I just copy and pasted this EA in to new installed Demo metatrader folder. I launched this demo platform to check how EA works and was satisfied. Then I open my Life Alpari platform which I haven’t been used for a last month and all of my Experts Advisors were switched off during this time. The button “Experts Advisors” also has been switched off for all this time. So, after I opened my Life account I realized that order was already open by the EA which I just installed to another folder for demo account. How this could happened if I never had been used this EA for my life account.

Basically what happened:
1. Order was open by EA while the life platform was closed and "Expert Advisors" button was off.
2. This EA have not been used for my life platform never before but this EA still open order for this life platform.

I had long conversation via email with Alpari UK complaint service. Generally they said:

“Dear Sir

Thank you for your email.

You installed the EA on MetaTrader.
Whether you use that installation to login to 1 account or 100 accounts is irrelevant.
It doesn’t change the fact that you installed it on the machine.

P*** C****
Team Leader, Client Services”

Review Moderation Team Note: Dron emailed us and asked us to remove the name of the person who sent him the above email. Alpari UK's representative didn't ask him to edit it. Instead Dron tells us that this person SUSPENDED Dron's account and told him that it would not be re-enabled until the name was edited out of this review.

The FPA considers this to be a very poor example of how such an issue should be handled.



Please tell me how copy/pasted EA to folder C:\Program Files\DemoPlatform could open order in another life platform C:\Program Files\LifeAccount. I was lucky this order was open by 0.01 lot. But next time order could be open by 1 lot and I will lose my deposit.

From my point of view they did not ignore the fact that all EA`s systems from alpari demo MT4 can influence on life Alpari MT4. So, their life MT4 is not secure from outside influence and orders can open at any time even you life platform is closed and "Expert Advisor" button is off.

They ignored to compensate my losses and point me to contact EA vendor to resolve this problem. I strongly believe this the fault of dealer Alpari UK.


Second issue I would like to rise is about Alpari UK quotes.

The pair is - USD/CHF. Date - 20.09.2011. Time - 23.00 GMT +2.

There is a huge spike down on 80 pips just in 1 minute. Next day I tried to find out the reason of this huge spike. I went back to this chart and was shocked to see that spike was disappeared on my eyes. The spike was left of no more that 30 pips. Alpari Uk just cleared off other 50 pips. This is pure manipulation by Alpari UK of their quotes after quotes have been done on chart. I attached pictures from my real platform to prove that.

Should I go to complaint to FSA and Financial Ombudsman Services? What do you think about it?
 

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aicohn

Corporal
Messages
107
complaint to fsa?

The first complaint is going nowhere IMHO. The second one MIGHT if you suffered a loss as a result.

I deal with an unregulated broker in Finland & they made me whole after a spike in their platform made my ea trigger a bunch of trades. What I did in that case was send them a print of their spike, and a print of my hotforex platform which did not show the spike.

If you did have a loss as a result of the spike, that's the way I'd proceed with the broker first & then with FSA. If even an unregulated broker with a bit of honesty would fix a problem like that, I suspect Alpari would. And if they won't, with a case like that, the FSA may well help you, though it may be more trouble than it's worth going through them unless the amounts of money lost were huge. First step is to get your ducks in a row & prove your point.

That's my 2 cents worth & good luck.
 

athenafx

AthenaFx Representative
Messages
172
You cannot use the word scam for any purpose like many others do and did.

Why ? because "scam" means nothing as far as it is used for any purpose.

Look at the image below. Of course your EA will run automatically on any account if you did not check "disable experts" when the account has been changed

Furthermore 23h00 is very often the rollover time, so a huge spread spike is always possible during a few minutes..

You should not complain to anyone, you should educate yourself.
 

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Dron

Recruit
Messages
7
The first complaint is going nowhere IMHO. The second one MIGHT if you suffered a loss as a result.

I deal with an unregulated broker in Finland & they made me whole after a spike in their platform made my ea trigger a bunch of trades. What I did in that case was send them a print of their spike, and a print of my hotforex platform which did not show the spike.

If you did have a loss as a result of the spike, that's the way I'd proceed with the broker first & then with FSA. If even an unregulated broker with a bit of honesty would fix a problem like that, I suspect Alpari would. And if they won't, with a case like that, the FSA may well help you, though it may be more trouble than it's worth going through them unless the amounts of money lost were huge. First step is to get your ducks in a row & prove your point.

That's my 2 cents worth & good luck.

Thanks Aicohn for your answer.

I have not lost money on this spike. However I am looking to recognize Alpari UK as a scam on this matter.
 
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Dron

Recruit
Messages
7
You cannot use the word scam for any purpose like many others do and did.

Why ? because "scam" means nothing as far as it is used for any purpose.

Look at the image below. Of course your EA will run automatically on any account if you did not check "disable experts" when the account has been changed

Furthermore 23h00 is very often the rollover time, so a huge spread spike is always possible during a few minutes..

You should not complain to anyone, you should educate yourself.

You have completely wrong understanding of what I am saying.

First of all I said that my "Expert Advisors" button was off (it was disabled).

Secondly I understand such a huge spike in 1 minute (it was not a problem) BUT WHY ALPARI UK CLEARED OFF THIS SPIKE AFTER.

Please check the pictures I provided before make conclusions.

I use "SCAM ?" for Alpari and do not establish that. I just asked "ALPARI SCAM ?"
 

athenafx

AthenaFx Representative
Messages
172
I don't imagine Alpari attempting to scam you for a 0.01 order.

As I said, you should check your MT parameters including installation.

Concerning spikes, did you know that some banks/brokers disable trading for a few minutes at rollover time because they proceed to the clearing of their daily operations with the liquidity providers and as a result the spread is widening.

I don't know Alapari but you may ask them the question about the way they handle the daily clearing at rollover time.

I also think that very popular words on google are "scam" and "free". Those words are so much used that they potentially have lost their meaning.
 

Dron

Recruit
Messages
7
I don't imagine Alpari attempting to scam you for a 0.01 order.

As I said, you should check your MT parameters including installation.

Concerning spikes, did you know that some banks/brokers disable trading for a few minutes at rollover time because they proceed to the clearing of their daily operations with the liquidity providers and as a result the spread is widening.

I don't know Alapari but you may ask them the question about the way they handle the daily clearing at rollover time.

I also think that very popular words on google are "scam" and "free". Those words are so much used that they potentially have lost their meaning.

I used hundreds of EA systems before and I know how to use them. Please SEE my MT4 parameters on picture provided


Now about the spikes.

I understand what you trying to say about " banks/brokers disable trading for a few minutes". But HOW Alpari UK can cleared off the quotes that has been already made on the chart?

I just delivered the facts and people must decide Alpari UK SCAM or NOT.
 

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Dron

Recruit
Messages
7
On my email about the spike they said:

Dear Sir

Thank you for your email.

There was a chronic and temporary failure from a major InterBank trading system, which was well-documented.
(Fat Finger The Culprit For USD/CHF Gap | ForexLive )
This incident was most regrettable but it can happen.

This led to the market appearing to trade at a level that wasn’t really achievable.

We took the decision that all trades executed outside the range supported by genuine price data should be deleted,
and was inclusive of both profitable and unprofitable trades.

This is not a decision that we take lightly, and indeed our sole concern was to do the right thing in terms of reflecting correct market movement.

I hope this clarifies our position.


Kind regards

Team Leader, Client Services

They always ready to send you advertising about their "useful" offers but they never ready to send you and email to say "sorry, yesterday we got system failure and we would like to refund if you lost or we are very appreciated our customer and if you have any problems concerning this issue do not hesitate to contact with our customer support". IMHO
 
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warrie

Recruit
Messages
3
On my email about the spike they said:

They always ready to send you advertising about their "useful" offers but they never ready to send you and email to say "sorry, yesterday we got system failure and we would like to refund if you lost or we are very appreciated our customer and if you have any problems concerning this issue do not hesitate to contact with our customer support". IMHO


300% with you on this one, their communication is very poor in general. I've traded over 4000 lots with them over the past year (for other clients as well).

I remember that particular spike. I was watching eurchf at that time which had that same spike (-50 pips). I was able to take a long on the spike down and "made" an easy 500 euro in 47 secs.
The next day they deleted the trade. Really poor communication to just delete a trade and shed 500 euro from the balance without informing the trader OF ANY KIND.

I quote from my communication:

Me:
I know forex sometimes feels like the wild west but;
Is it common practise to delete trades without informing the trader?

Alpari:
It is common practice to delete trades that were opened on erroneous prices, yes.

All the people with losses as a result of those trades do not appear to be unhappy with the arrangement.


Bottomline; 1 they avoid the question asked 2 why would i care about other people's happiness with the arrangement.
Anyway there was an invalid price, trades had to be deleted, fine but dont let the trader in the dark on the why. especially a marketmaker should know better and give their best transparancy.


Ps i dont think they are scam. Although i hate the amount of requotes. During the day(not talking about newsevents) its sometimes impossible to get into a trade without a requote (more then 1 pip deviation)
 
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