Alpari(UK) - withdrawals denied!
- Thread starter LorenzoB
- Start date
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- Tags
- alpari.co.uk
Pay For Your Mistakes
I have been with Alpari for many years and always thought they were on the up and up; but now I have serious reservations: At one point, an internet disruption caused the Alpari Multi-Terminal platform to close all of my open positions to a loss of more than 6k. Because I could not prove this on my end, I took the loss and did not complain further to Alpari because it was my word against theirs. In this case, they (Alpari) admit to a bug in their system and they should take the loss and be done with it, instead of hiding behind legalese which is written by the most disgusting human beings with a license to steal= LAWYERS!
I have been with Alpari for many years and always thought they were on the up and up; but now I have serious reservations: At one point, an internet disruption caused the Alpari Multi-Terminal platform to close all of my open positions to a loss of more than 6k. Because I could not prove this on my end, I took the loss and did not complain further to Alpari because it was my word against theirs. In this case, they (Alpari) admit to a bug in their system and they should take the loss and be done with it, instead of hiding behind legalese which is written by the most disgusting human beings with a license to steal= LAWYERS!
Scott Shuttleworth
Recruit
- Messages
- 16
Question:
How is one to know whether a price is based on a bad tick or not?
I mean I suppose you could compare each price to other brokers but who does that for every tick they get?
When I trade I just trade via the tick given.
I don't get this whole bad tick thing, when you're trading in a bank and another bank gives you a price you know is wrong, its your opportunity. The other bank can't say later, "oh I made a mistake, can you give me that back"?
How is one to know whether a price is based on a bad tick or not?
I mean I suppose you could compare each price to other brokers but who does that for every tick they get?
When I trade I just trade via the tick given.
I don't get this whole bad tick thing, when you're trading in a bank and another bank gives you a price you know is wrong, its your opportunity. The other bank can't say later, "oh I made a mistake, can you give me that back"?
Pharaoh
Brigadier General
- Messages
- 20,308
That's why the NFA but very strict limits on how long US brokers have to cancel/correct forex trades due to bad prices.
As much as I despise some of the rules from the NFA and CFTC, that's one good rule that's not matched by any other regulator that I'm aware of.
As much as I despise some of the rules from the NFA and CFTC, that's one good rule that's not matched by any other regulator that I'm aware of.
Is there any VERIFIED recorded instance of ANY FOREX BROKER IN THE WORLD, canceling a client's LOSING TRADE and replacing their losses?
To date I have only ever seen a CLIENT'S WINNING TRADE receive this action!
Perhaps it is time for the regulatory bodies to have a good look at this contentious issue.
To date I have only ever seen a CLIENT'S WINNING TRADE receive this action!
Perhaps it is time for the regulatory bodies to have a good look at this contentious issue.
Last edited:
Alpari
Alpari Representative
- Messages
- 122
After careful, impartial and fully independent review, the Financial Ombudsman Service has completed its investigation of this case, and rejected the complaints of the individuals concerned.
Alpari (UK) now consider the case to be closed, and will not be making any further comment.
Alpari (UK) Ltd.
Alpari (UK) now consider the case to be closed, and will not be making any further comment.
Alpari (UK) Ltd.
Tijl Uilen
Recruit
- Messages
- 6
Dear Sir/Madam, could you please be more specific? At least give some reference to this case. It would be very interesting to know why the complaints were rejected?
Were they false? Were they qualified as lawful and allowed acts performed according to your Contract?
Thanks in advance.
