Alpari UK Placed in Special Administration by FCA as No Deal Has Been Reached
Article updated with official announcement. KPMG will try to find a buyer for the broker themselves in a last effort

Alpari UK has just been placed in special administration. The broker’s board of directors has looked for a buyer to take over its business to prevent the company from reaching this situation, but as Forex Magnates previously reported, they failed.
According to sources, KPMG is already in the broker’s office as the accounting firm was appointed by the FCA as Alpari UK’s special administrator. This means that KPMG will try to find a buyer for the broker themselves in a last effort to save the business or will have to oversee the distribution of the company’s cash and funds back to clients.
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Richard Heis, pictured, partner at KPMG and joint special administrator commented about the appointment, in a statement he said: “Following the announcement by the SNB last week, Alpari (UK) Ltd sustained substantial losses as a result of negative client balances, and was faced with no other choice but to enter into special administration. We have had a number of enquiries from interested parties in relation to the company’s business. We will be speaking with these parties and others over the next few days, and hope to secure a deal to preserve the business and jobs as far as possible.”
He continued: “The company holds some $98.5 million of retail client money which has been segregated and we shall be returning this to clients or making other suitable arrangements in accordance with statute and the regulatory framework at the earliest opportunity.”

As far as Forex Magnates knows, client funds have not been compromised as they are segregated based on FCA rules.
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Update: New Announcement on Alpari UK Website
“Upon the application of the directors of Alpari (UK) Ltd, on Monday 19 January 2015, the High Court appointed Richard Heis, Samantha Bewick and Mark Firmin of KPMG LLP as joint special administrators of Alpari (UK) Ltd, under the Special Administration Regime (SAR). Alpari (UK) Ltd is a company incorporated in the UK.
Alpari (UK) Ltd applied for insolvency on Monday 19 January 2015 following the decision on Thursday 15 January 2015 by the Swiss National Bank to remove the informal peg to the euro at around 1.20 Swiss francs. The announcement by the SNB prompted volatility across the foreign exchange markets which saw the company and many of its clients make large losses. After a weekend spent in urgent discussions with various parties with a view to selling the company, these efforts were ultimately unsuccessful.
We have had a number of enquiries from interested parties in relation to the company’s business. We will be speaking with these parties and others over the next few days, and hope to secure a deal to preserve the business and jobs as far as possible.
For all queries, please contact:
alpariukclaims@kpmg.co.uk
The administrators will endeavour to respond to your query as soon as possible.”
‘Previously reported’ ???? You had them sold to FXCM yesterday !!
they probably refer to earlier article today where it was stated that shareholders blocked any potential sale, probably including fxcm one and maybe even that pepperstone one, doubt if we’ll ever know but no doubt alpari uk is a very hot asset that many wanted
Pepperstone doesn’t even have an FCA license , for the FCA to authorise the sale they would need a license first. Can’t believe people believe the horseshit those guys release in the press.
what happens if you sustain a loss on position when alpari shut down at 10 am last friday?
Who’s sending transfer instructions to alpariukclaims@kpmg.co.uk ? Is it the proper route ?
Can FM verify that the 98 million in segregated funds are indeed there? I don’t see why withdrawals were not processed.
I also fail to understand why other Alpari sister companies were not used to help bail out the UK branch? If the UK branch cannot be saved, what does that say about the rest of the company?
if you sustain a loss due to alpari shutting down all trades what happens? anybody knows?
I think fca is doing well and we will receive our funds shortly .I hope someone will buy alpari because I don’t know the fund returning processing time of this cases,if anyone know about this please tell me.
the key is how much balance in the bank account.
its funny and ridiculous that who will buy it as alpari group dont want to buy this dead fish
Hi James,
Thank you for sharing your opinion on their report. May I ask, what were you expecting from the report? In my opinion,I think it all depends, for Monex the findings were probably more valuable, since its their clients. Whereas, the benefits of someone reading it from the outside merely gives a sample of sentiment from the group polled. That is, all it’s really meant to be, again in my opinion, is a brief polling of sentiment from a sample of their customer base, and not some magic discovery. Cheers~
Hi James,
Thank you for sharing your opinion on their report. May I ask, what were you expecting from the report? In my opinion,I think it all depends, for Monex the findings were probably more valuable, since its their clients. Whereas, the benefits of someone reading it from the outside merely gives a sample of sentiment from the group polled. That is, all it’s really meant to be, again in my opinion, is a brief polling of sentiment from a sample of their customer base, and not some magic discovery. Cheers~
Anyone can buy a company with an FCA licence, I did a few years back, FCA simply do due diligence…..fit and proper etc. It’s fairly simple and a lot cheaper than going through the regulation process.
@John, you don't need to be FCA regulated to buy an FCA regulated brokerage. A well known Australian broker bought a company to get an FCA licence. That's the point of doing so. The due diligence is quite lengthy however.
ADS Securities UK bought their license too..
For a blow by blow account of my own attempts to get my money back from Alpari (UK) see:
http://trading-gurus.com/swiss-national-banks-unexpected-policy-bankrupts-alpari-uk/
In the short term I suggest reading KPMG’s FAQ, available from:
http://www.kpmg.com/uk/alpari
then waiting for the claim form to return.
How can we get our money fro LQDmarkets, now their site is down, what we should do to get our money back, please help ??????thank you