We have just received an official letter from Alpari Uk that the company has shut down its doors.
The following is the official text that Alpari UK shuts down due to insolvency:
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 rules.
Alpari UK – does not allow client withdraws. from their client portal when the WD is initiated they direct the clients to the following link.
Alpari UK, has withdrawn its insolvency announcement as the board of directors decided to chose the route to sell the company. Meanwhile Alpari Japan is requesting its customers to withdraw their funds as the mother company is insolvent.
Alpari UK’s majority shareholder Andrey Dashin says ““was not aware of and was not invited to take part in any negotiations to sell Alpari UK to FXCM or anyone else.”
The company is expected to have an emergency major meeting with all its employees at 10:30 am GMT to announce its insolvency.