Alpari Sale Talks Seems to Have Collapsed, Final FCA Meeting Imminent

Alpari UK has looked for a buyer to take over its business as soon as possible to prevent the company from declaring insolvency. Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates has just learned that a shareholder deadlock of the broker might lead to a delay in sales talks.

Andrey Dashin, the majority owner of Alpari UK, in a conversation with Forex Magnates said that he "was not aware of and was not invited to take part in any negotiations to sell Alpari UK to FXCM or anyone else."

Forex Magnates has also learned that the broker must report to the FCA within the next hour if any deal has materialized to prevent the insolvency declaration, and according to Forex Magnates sources no deal has been reached.

At 10:30 am UK time, all Alpari employees have a major meeting in the offices where the firm going insolvent is expected to be announced. As far as Forex Magnates knows, client funds have not been compromised as they are segregated based on FCA rules.