AtoZForex.com Lagos – The Alpari UK drama is finally coming to a conclusion. The FSCS announced it will commence payment to all eligible clients of the company who have met the criteria of: agreeing their claims in the Claims Portal and chosen to assign to FSCS. The function of assigning claims to the FSCS was included on the claims portal after extensive discussions between the JSAs and FSCS to simplify the process for claims and being paid. Hence, clients were able to chose to be compensated either by the JSAs or by the FSCS. Now, the compensation will be paid directly after their bank account details have been provided. All compensation payments will be paid in US Dollars.
ETX Capital which acquired about 160,000 client data for an undisclosed amount to from Alpari UK has announced that the first Financial Services Compensation Scheme payments have been received successfully. The transfer was made last month, with all of the relevant clients able to access their funds instantly.
Andrew Edwards, CEO of ETX Capital said: “We are delighted that we have been able to help the first tranche of traders successfully access their funds”. “Although we have offered to provide client access to their $ payment in any currency at competitive rates we have seen very few withdrawals, with many clients happily trading on our platforms.”
“ETX Capital has been one of the payment options on the joint special administrators portal pages and we have been inundated with traders looking to take us up on our offer to convert funds cheaply as well as significant spread rebates on their first months’ trading,” said Edwards. “We feel that we have a lot to offer ex-Alpari clients, and the enthusiastic response that we’ve received suggests that many former Alpari clients feel the same way.”
Before FSCS Payment for ex-Alpari Customers was received, ETX put up an attractive offer to customers of Alpari, giving them an option to receive about 30% of their expected balance as an advance until their funds arrive, if they opt to redirect their compensation funds to ETX.
After the first tranche of FSCS payment, many customers are still yet to receive their funds as they didn’t make the first list. No course for alarm though as the next set of payments should be made in a few weeks time.