Exclusive: AxiCorp in Advanced Talks to Partner With Alpari Dubai
A final agreement has yet to be reached due to pending negotiations and a regulatory approval required by the local
Multiple independent sources have confirmed to Finance Magnates’ reporters that Alpari’s Dubai unit is likely to strike a partnership deal with Australian company AxiCorp, which is the parent company of AxiTrader.
The news comes about six months after the bankruptcy of Alpari U.K, whose assets and senior management have already been absorbed by the industry. While the Middle Eastern branch is a separate legal entity with a local license and team, Alpari Dubai’s clients have been affected from a technological perspective.
Join the iFX EXPO Asia and discover your gateway to the Asian Markets
Customers of Alpari Middle East lost access to the MT5 platform of the firm in the aftermath of the Swiss National Bank event which prompted the shutdown of Alpari UK. Amongst the most valuable assets the Middle Eastern branch of Alpari possesses is the license from the Securities & Commodities Authority in the UAE.
Suggested articles
The FX Global Code – Is Self-Regulation the Future of the Industry?Go to article >>
According to information obtained by Finance Magnates, there has been no definitive agreement between the companies as yet and any deal pends the approval of the local regulator. Sources with knowledge of the local market claim that a partnership with AxiCorp would most likely encompass the client assets of Alpari Dubai and its regulatory permit.
The operations of Alpari Dubai in the region have been substantial, however different sources claim that most of the company’s staff has already been hired by other firms operating in the Middle East.
The maintenance of an office in Dubai and the expenses associated with maintaining operations would be a substantial additional cost for AxiCorp, therefore the Australian firm is unlikely to be interested in committing funds for those operations.
But the income potential of middle eastern orderflow outweigh the cost of acquisition, correct? Why consider acquisition if the benefits didn’t outweigh the cost?
But the income potential of middle eastern orderflow outweigh the cost of acquisition, correct? Why consider acquisition if the benefits didn’t outweigh the cost?
yes that is true i heared that the elites of Alpari employees have joined another broker in Dubai ..
and what do you mean by Partner !! so Alpari ME will be an IB with AXI Corp
True
yes that is true i heared that the elites of Alpari employees have joined another broker in Dubai ..
and what do you mean by Partner !! so Alpari ME will be an IB with AXI Corp
True
the cost of Dubai operation is really high, in addition to that i have been told that Alpari ME had already lost a descent number of employees to other competitors in Dubai
the cost of Dubai operation is really high, in addition to that i have been told that Alpari ME had already lost a descent number of employees to other competitors in Dubai
Ex Alpari Me office will only be an IB for AXITrader and not a rep office.
The deal was made because the DMCC gave them three months to close the office.
That is right Hamad I Agree with you
Agreed
Ex Alpari Me office will only be an IB for AXITrader and not a rep office.
The deal was made because the DMCC gave them three months to close the office.
That is right Hamad I Agree with you
Agreed
We heard that there is a kind of game going on in there, a very close source told me that they previously signed a deal with CWM, a moth later CWM offices in London got raided by London police, now the Rumors are about Axi, who is the next victim?
We heard that there is a kind of game going on in there, a very close source told me that they previously signed a deal with CWM, a moth later CWM offices in London got raided by London police, now the Rumors are about Axi, who is the next victim?
AXITrader on their website mentioning that they are licensed under FCA numer 509746
I checked FCA website the license was expired on 31/03/2013.
You can check from this website http://www.fsa.gov.uk/register/firmRefSearch.do
How come ..Weird !
AXITrader on their website mentioning that they are licensed under FCA numer 509746
I checked FCA website the license was expired on 31/03/2013.
You can check from this website http://www.fsa.gov.uk/register/firmRefSearch.do
How come ..Weird !
Bad Broker for me every day connection problems which I don’t have with my other mt4 brokers. When you want to close or open a position “can not connect to server” while price is moving so there must be a connection. When i close a long order which is going up it close immediately when price moves down it takes a long time .
I have closed my account with them.
I can tell you one thing,
run away! i had a very big issues with them they are not a good company to deal with.
Bad Broker for me every day connection problems which I don’t have with my other mt4 brokers. When you want to close or open a position “can not connect to server” while price is moving so there must be a connection. When i close a long order which is going up it close immediately when price moves down it takes a long time .
I have closed my account with them.
I can tell you one thing,
run away! i had a very big issues with them they are not a good company to deal with.
Why do you not put my comments?
Why do you not put my comments?