Forex Trading – ALPARI CLAIMS

by Michael on March 18, 2015

A few days ago I received notification that KPMG (administrators) had opened the CLAIMS PORTAL for ALPARI UK, the UK forex broker that had gone into administration a few months ago.

ALPARI was a forex broker that I used for my forex trading during over five years. I found that for online forex trading it was a great forex broker with good forex software and a user-friendly platform. I was very upset when they announced they had gone bankrupt, not least because I was concerned about the money I had in their accounts.

As I have a positive balance with them now all the trades are closed my goal is of course to get back 100% of my money. For this purpose KPMG the administrators have opened a claims portal in which clients can agree the amounts of their claims (money owed). This system is supposed to reduce correspondences & paperwork and save time and I must admit that it was very easy and quick – maybe 10 minutes it took me to go through the process.

The only decision that remained after that was to decided whether to let the adminsitrators do a pay-out based on monies left in ALPARI accounts or make the claim direct to the FCSA.  I decided upon the latter as I understand that there is more chance to get 100% of my money back this way and on KPMG website it said it would be quicker. Unfortunately I could not find any advice on that decision, so it was my call completely. I hope it was the right one. Anyway, I will let you guys know how and when this is eventually resolved.

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