Alpari Bucketshop

[Lee Shepherd]

Dont worry, not all spreadbetting company's are the same and certainly shouldn't be tarred with the same brush. I regularly win and take money from IG and can say that over the many years I've been with them (Finspreads previously) I have no problem with either.

Below is a (rare) screenshot of my platform. I have taken it live so the times will equal somewhat to the post, in other words, very difficult to photo-shop in the amount of time given without making errors.

For previous trading history you can view my trading diary that was posted in 2008 and went over 8 months, even now I have doubters to my success. Ignore these people, they tend to follow you round like the plague.

Have fun.

 

[Lee Shepherd]

For the record. I am closing out the rest of the Dow longs prior to going in to the close of this weekend. I will be looking for further positions at some point next week with a slow build depending on what prices I can get and what I believe to be a fair price for the particular instrument.

 

[forker]

There are always those that don't believe unless it knocks them in the face

 

[Lee Shepherd]

All out of dow longs (Dec) at (equivalent cash price) 13097. The summer is here and time to get your shorts on (next week at some point)

 

[Soloquan]

Dont worry, not all spreadbetting company's are the same and certainly shouldn't be tarred with the same brush. I regularly win and take money from IG and can say that over the many years I've been with them (Finspreads previously) I have no problem with either.

Below is a (rare) screenshot of my platform. I have taken it live so the times will equal somewhat to the post, in other words, very difficult to photo-shop in the amount of time given without making errors.

For previous trading history you can view my trading diary that was posted in 2008 and went over 8 months, even now I have doubters to my success. Ignore these people, they tend to follow you round like the plague.

Have fun.

You know what... think I might stick with IG for a bit longer and maybe think about DMA end of next year (if I'm still in the game ) Looks like you're swing trading so have lower stake sizes than me and this is what I concerned about... being put on dealer referal which while I could tolerate dealer referal as I'm not scalping by any means it's just a pain in the ar*e.

 

[Lee Shepherd]

You know what... think I might stick with IG for a bit longer and maybe think about DMA end of next year (if I'm still in the game ) Looks like you're swing trading so have lower stake sizes than me and this is what I concerned about... being put on dealer referal which while I could tolerate dealer referal as I'm not scalping by any means it's just a pain in the ar*e.

Hi Soloquan,

Nice to meet you old bean. There is nothing wrong with SB, dont let others tell you different as those that do will no doubt only ever have horror stories as to how they were cheated. Its not the SB that's cheated them, its the market, that's its design.

DMA is good but remember you have to pay 20 or maybe if you're lucky 40% tax on your earnings. in the U.K you pay nothing on your SB winnings as its tax class is gambling and therefore exempt. It also helps dramatically on your spreads/commission pay on higher targets. You know the saying well.....Low risk, high reward....not many live by this and sell the trade short at either 2:1 and feel great about this.

I know of some on here that go for a constant 1:1, but they fail to believe the spreads/comms make this less than 1:1 and actually stack the odds against themselves. This is not good practice and should they ever run a gambling house would swiftly find themselves out of pocket over time.

Forget everything you know....its all about the numbers

 

[Soloquan]

Hi Soloquan,

Nice to meet you old bean. There is nothing wrong with SB, dont let others tell you different as those that do will no doubt only ever have horror stories as to how they were cheated. Its not the SB that's cheated them, its the market, that's its design.

DMA is good but remember you have to pay 20 or maybe if you're lucky 40% tax on your earnings. in the U.K you pay nothing on your SB winnings as its tax class is gambling and therefore exempt. It also helps dramatically on your spreads/commission pay on higher targets. You know the saying well.....Low risk, high reward....not many live by this and sell the trade short at either 2:1 and feel great about this.

I know of some on here that go for a constant 1:1, but they fail to believe the spreads/comms make this less than 1:1 and actually stack the odds against themselves. This is not good practice and should they ever run a gambling house would swiftly find themselves out of pocket over time.

Forget everything you know....its all about the numbers

Totally forgot about CGT! Damn the government. Yep SB for a lot longer for me in that case.

If you're talking about RR ratios then it's fine. I don't use them and exit the trade based on TA and PA.

 

[Lee Shepherd]

Totally forgot about CGT! Damn the government. Yep SB for a lot longer for me in that case.

If you're talking about RR ratios then it's fine. I don't use them and exit the trade based on TA and PA.

Fair play, whatever makes you money. You will however....whether you like it or not have a risk reward and this (unfortunately) needs to remain well in your favour....just like a bookies. If not, over time you will lose money or on a singular event situation. But...I'm sure you won't and you'll do just fine, you seem like a well seasoned trader.

 

[YouAreNotFree]

lol

 

[Soloquan]

lol

Oh Em Gee

YouAreNot a 14 year old american teenage girl. Please don't talk like one

 

[Soloquan]

Fair play, whatever makes you money. You will however....whether you like it or not have a risk reward and this (unfortunately) needs to remain well in your favour....just like a bookies. If not, over time you will lose money or on a singular event situation. But...I'm sure you won't and you'll do just fine, you seem like a well seasoned trader.

Okay what if it isn't in my favour. It's about positive expectancy. Yes of course you end up having RR but I don't have a set 2:1 etc... Why limit the amount you can make?

What happens if I only win one in 6? My losses amount to 50 ticks but my one winner amounts to 100?

Why am I even discussing this?

Don't patronise me is what I'm saying.

 

[Soloquan]

Thread closed, arogant ******s

 

[alan5616]

Alpari are one of the worst people to trade with. If you were/are unfortunate enough to have an account with them, you will be subjected to all their tricks and methods of cheating clients. Sadly, I speak from personal experience.

Stay well away from these people. How I wish I was on the executive committee of the FSA because they'd be closed down on Monday morning. Apart from bad personal experience, this news item sums up the dishonesty of this outfit.

NFA issues $200,000 fine against New York forex firm Alpari US LLC

 

[ffsear]

This has nothing to do with Alpari , all fx retail brokers and all Spreadbetting companies are bookies , it is gambling not trading , if you lose they win if you win they lose ...

All trading is gambling! end of! - Hitting the sell button on an SB platform is no different from hitting it on a DMA platform. You still get a price! People lose because they don't know what they are doing!

 

[Lee Shepherd]

If someone see's trading or investing as gambling then they will, in most cases lose a lot of money the more they play.

When it comes to investing/trading, this is more akin to making financial decisions based on research (just as in any business). If one researches the odds in a casino a sane mind would not choose to invest but could still choose to play, however this is not the same for investing as the cards do not have to be stacked against you.

Anyone who is truly interested in this battle of two minds and what to say to people that class trading as gambling should read definitions in dictionaries. I've read many and to which has helped me to help others in the distinguished difference between the two. If you still cant win them over, IGNORE them, agree with them and humour them but pay them no minds.

They take a gamble when they drive to their 9-5 job and hope they don't get involved in an accident, they may argue that they have been driving for years, they know the roads and the car well and how to handle it should the car lose control on black ice or oil, they also know how to get in and out of the car (the easy bit). So, if I were to bet take a bet on whether he would make it to work safely tomorrow morning or not against a 5 year old who knows very little of the dangers of the road......where should I put my money? Who has the highest chance of making it?

Other than that, call it gambling if you like but if that's the case then everything we do in life is just one big gamble. It just boils down to who makes the most money and has the most fun. And if that fails then enjoy working your 9-5 job working pay check to pay check for corporate gain.

Lee Shepherd

 

[pboyles]

All trading is gambling! end of! - Hitting the sell button on an SB platform is no different from hitting it on a DMA platform. You still get a price! People lose because they don't know what they are doing!

People also lose money because FX companies use dishonest slippage practices to defraud them collectively of millions of dollars. That's not my opinion, that is what has been clearly stated in several NFA or CFTC cases. FXCM were ordered to pay several million dollars back to clients. There have been other cases and no doubt there will be more in the future.

 

[Alpari UK]

Thank you for your posts.

As you know, Alpari (US), LLC (“Alpari (US)”) recently entered into a USD200,000 settlement with the National Futures Association (“NFA”) and refunded losses incurred as a result of adjustments made to client accounts. We would like to take this opportunity to point out that the FXOptions platform – which was the subject of the NFA investigation – is not part of the Alpari companies’ core offering and has never been offered by Alpari (UK) Limited (“Alpari (UK)”). Alpari (US) ceased to offer the platform in January 2012.

Please note that this ruling has no impact on Alpari (UK) or its clients for three reasons:

1 Alpari (US) and Alpari (UK) are regulated by the regulatory bodies located in their respective regions. Decisions by a US regulatory body (NFA) on Alpari (US) have no bearing on Alpari (UK). Alpari (UK) is authorised and regulated by the Financial Services Authority (“FSA”) and must comply with the FSA's rules which differ from those of the NFA.

2 Alpari (US) and Alpari (UK) are both independent entities within the global association of Alpari companies. In addition to our core products and platforms, each of the businesses has its own region-specific product portfolio. FXOptions was offered by Alpari (US) only.

3 Alpari (UK) and Alpari (US) each have their own Terms of Business reflecting their region’s regulatory and legal environment. Alpari (UK)’s Terms of Business would allow us to cancel an erroneously executed order and we reserve the right to remove funds from clients’ accounts where we believe such an error has occurred. However, we will only do this as a last resort and where it is evident that our Terms of Business have been breached. Clients can be assured that everything we do is underpinned by our regulatory obligation to treat customers fairly.

A reminder of our Terms of Business

Alpari (UK)’s Terms of Business are in line with FSA requirements and are regularly reviewed to ensure continued compliance with any changes to rules and regulation. When we make changes to our Terms of Business or Client Agreement we communicate them to clients by email and by notifications made in the Company News section of our website.

To ensure that you remain familiar with our trading policies it's always a good idea to review and read the latest version of our Terms of Business, available online:
Trading Platform Legal Documents - Alpari (UK)

Should you have any questions, please email our support team at [email protected] or call +44 (0) 207 426 2900. We will be happy to help in any way we can.


Alex

________
Alexander Chadwick
Alpari (UK) Representative

 

[alan5616]

People also lose money because FX companies use dishonest slippage practices to defraud them collectively of millions of dollars. That's not my opinion, that is what has been clearly stated in several NFA or CFTC cases. FXCM were ordered to pay several million dollars back to clients. There have been other cases and no doubt there will be more in the future.

pboyles; your comments are bang on the money.

I can't believe the number of naive people who think that market makers and SB Cos just make their profit, solely, on taking a small piece of the spread.

Lo and behold, we now have Alpari (UK) distancing themselves from the US operation and trying to portray themselves as whiter than white. "We comply with FSA etc. etc." What absolute ********. They are experts at slippage, error codes, that prevent trades being closed, requotes and the whole gamut of tricks used by unscrupulous forex brokers.

If anyone here thinks that I'm slagging them off without justification, then all you have to do is to open an account and start trading with them. You will then see for yourself whether I'm a liar or not. When most of your account has been decimated they will then make a charge for returning the balance to you!!

I don't work in the financial business and no longer trade forex but, I hope that some of you believe that I'm honest and sincere in my warning.

 

[Alpari UK]

pboyles; your comments are bang on the money.

I can't believe the number of naive people who think that market makers and SB Cos just make their profit, solely, on taking a small piece of the spread.

Lo and behold, we now have Alpari (UK) distancing themselves from the US operation and trying to portray themselves as whiter than white. "We comply with FSA etc. etc." What absolute ********. They are experts at slippage, error codes, that prevent trades being closed, requotes and the whole gamut of tricks used by unscrupulous forex brokers.

If anyone here thinks that I'm slagging them off without justification, then all you have to do is to open an account and start trading with them. You will then see for yourself whether I'm a liar or not. When most of your account has been decimated they will then make a charge for returning the balance to you!!

I don't work in the financial business and no longer trade forex but, I hope that some of you believe that I'm honest and sincere in my warning.

Hi Alan,

Thanks for your post. I believe we have already addressed your concerns earlier on this forum.

It's good to see that Alpari are going to MT5. I wonder whether they are, also, going to change the way in which they treat their clients.

A friend and I opened two accounts with them. One Classic and the other Micro, with a view to opening a substantial Pro account. During the period that we had these accounts, we suffered "trade context busy" error codes, constant requotes and a 50 pip slippage on a perfect hedge trade. We closed both of these accounts within a couple of weeks, as we felt that we were being ripped off.

As a result of our experience of Alpari's business practise, the Pro account was opened elsewhere. Alpari, if you read this, do you think that conducting your business in this way, i.e trading against small sized accounts, is to your benefit in the long term? Since we closed our accounts with you, we have made trades in excess of £10 million with another broker. As the old saying goes, "penny wise - pound foolish"

Hi Alan,

Thank you for your for post.

I’ll address each point in turn.

Trade Context Busy is not a server related error. It means that only one order can be placed at a time. The message usually appears when two or more expert advisors try to trade simultaneously. Only one order maybe accepted from any one expert advisor at a time. The second expert advisor will get the "trade context is busy” message. The same holds true with manual trading. Thereby appearing when you attempt to open another position with the preceding order for opening/closing/altering the position has not been executed.

Requotes have been around ever since markets were allowed to float and are a natural consequence of that. If you are trading with the momentum of the market, and therefore by definition in the direction of least liquidity, then requotes are an inescapable fact of life that everyone has to deal with, from the busiest InterBank desks to the smallest retail trader. The only current alternatives are DMA Pro accounts in which orders are sent on a Fill or Kill basis where although you can avoid requotes, the risk is not getting a trade in (or out) at your preferred price at all.

On the subject of slippage, 50 pips slippage does seem like a lot. We’ll be more than happy to investigate this for you. However, please do note the context. Should you have an open position over the weekend, then slippage may obliviously occur. There have been number of occasions where the slippage has also been in the client’s favour. The positive slippage subsequently credited to our client's trading accounts.

I’m rather sorry to hear that you decided from move on from us. However, do feel free to try out a demo of our new MT5 account.

Alex

Again, should you or anyone else have any issues with your Alpari UK account, please email [email protected] . We’re here to help.


Alex

________
Alexander Chadwick
Alpari (UK) Representative

 

[Soloquan]

Originally Posted by Alpari UK View Post
Hi Alan,

Thank you for your for post.

I’ll address each point in turn.

Trade Context Busy is not a server related error. It means that only one order can be placed at a time. The message usually appears when two or more expert advisors try to trade simultaneously. Only one order maybe accepted from any one expert advisor at a time. The second expert advisor will get the "trade context is busy” message. The same holds true with manual trading. Thereby appearing when you attempt to open another position with the preceding order for opening/closing/altering the position has not been executed.

Requotes have been around ever since markets were allowed to float and are a natural consequence of that. If you are trading with the momentum of the market, and therefore by definition in the direction of least liquidity, then requotes are an inescapable fact of life that everyone has to deal with, from the busiest InterBank desks to the smallest retail trader. The only current alternatives are DMA Pro accounts in which orders are sent on a Fill or Kill basis where although you can avoid requotes, the risk is not getting a trade in (or out) at your preferred price at all.

On the subject of slippage, 50 pips slippage does seem like a lot. We’ll be more than happy to investigate this for you. However, please do note the context. Should you have an open position over the weekend, then slippage may obliviously occur. There have been number of occasions where the slippage has also been in the client’s favour. The positive slippage subsequently credited to our client's trading accounts.

I’m rather sorry to hear that you decided from move on from us. However, do feel free to try out a demo of our new MT5 account.

Alex[/URL]

It's stuff like this that makes me question Alpari. It's like you've told yourself so many lies over the past that you now actually believe this is the truth. Please Alex Chadovski don't think I am aiming this soley at you.

I have had an account with Alpari and with IG Index and also with a new outfit called Gekko.

Alpari requotes can be unbelievably annoying and happen most of the time, even in non volatile markets. You say this is an inescapable fact of life, well so is death, which is the way most accounts end up with Alpari. The requotes at Alpari compared to IG index is nothing alike. Since I've been there I very seldom have requotes and when I do it has been in genuinely volatile conditions. There is no need for this many requotes. You say they have been around since markets began and the only alternative is fill or kill. This is total bullsh*t and you know it. There are no need for requotes at all and it is a common tactic used by SB companies who have this policy so ingrained into their workings that they can't stop. The videos at the start of this thread, that has happened to me on occasion.

Trade context busy because of either two ea's or two orders at the same time Please, I've never had an ea and only open one position at a time. You see Trade Context Busy so often I don't know why you don't have this as your motto.

Listen it sounds as though I am bitter. I lost money with you guys but NOT because of the above, I lost because this was a few years ago and I didn't have a clue what I was doing. The requotes didn't cause me to lose, nor the trade context busy, what it did do was really fu**ing **** me off though so much so that I took my accounts elsewhere where I have had nothing even remotely similar.

This is all hear say evidence of course, I have no proof, it's just my personal experience. Would I have an account again with Alpari? Yes but only a micro account for testing out strategies etc...