Alpari violations and fines! horror.. Alpari

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Company Review Alpari

25 November 2017 at 12:56

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Alpari violations and fines! horror from different...

Alpari violations and fines!

horror from different continents with different jurisdictions:

Operating a broker in England by the FSA regulator Alpari was fined www.fsa.gov.uk/pubs/final/alpari.pdf 140k pounds for money laundering . The broker Alpari (UK) pleaded guilty and did not obstruct the investigation;

After this turn of events, the European regulator CySEC takes away www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=cb17ffcf-09da-44ba-8419-14e436c7be0f license from Alpari.

In the U.S., the company’s representative office distinguished itself as much as twice and subsequently received fines from the NFA in the amount of 200 thousand dollars for canceling profitable trades http://www.nfa.futures.org/NFA-regulation/regulationNewsRel.asp?ArticleID=4087 , and 50 thousand dollars for distorting the reporting of trading operations. The link to the NFA website is
www.nfa.futures.org/basicnet/Case.aspx?entityid=0379678&case=13BCC00013&contrib=NFA

The strengthening of the franc in January 2015 led to the bankruptcy of a broker in England www.bbc.com/news/business-30846543 due to the failure to withdraw money to the real market . At the moment the broker closed its operations in England, and 225 million dollars of debt none of the clients have not received. At the link www.insolvency-kpmg.co.uk/case+KPMG+AF119D1101.html you can read the documents of the commission when the temporary administration was introduced at the broker;

The forex regulator in Russia, the Russian Central Bank, refused to issue a license to Alpari lenta.ru/news/2016/06/02/noforexclub/ as a result, the broker is operating illegally there.

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- Alpari ivan 1 December 2017 at 13:46
  
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  Hello, Ivan!
  
  Someone has provided you with unreliable facts. Please be more critical of the information on the Internet.
  
  First, about the absence of a license from the Central Bank of the Russian Federation. On the website of the Central Bank you can find confirmation that there is a license: http://www.cbr.ru/Content/FileDocument/File/14180/list_forex_dealers.xls.
  
  Secondly, there was no fine for money laundering. The British regulator’s claim against Alpari UK was limited to deficiencies in the money laundering control system. After the regulator’s inspection, no actual violations were found.
  
  Thirdly, Cysec revoked the license due to violations – a brazen lie. The management decided that Alpari Financial Services Ltd. would cease operating in this country. Thus, the revocation of Alpari Financial Services’ license in Cyprus 2012 is solely related to the closure of this legal entity.
  
  Fourth, we were not penalized for canceling profitable trades. After the NFA inspection, the claims against Alpari US, including clients’ claims for payment of allegedly earned profits, were dropped. Nevertheless, the regulator fined the company $200,000 for violations in the technological control procedure when launching a new trading system.
  
  Fifth, do not believe those who say that Alpai UK clients do not receive funds. In full compliance with the law, Alpari UK was placed under external management, and after some time, in strict compliance with the established procedures, the money from the accounts was returned to retail clients, which once again confirmed Alpari’s reputation as a company that firmly fulfills its obligations. You can contact the management company KPMG who will confirm that Alpari UK clients are receiving their funds in accordance with the procedures established by the regulator and UK law.
  
  Answer

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