Breaking: FXCM Emerges as Potential Buyer for the Business of Alpari UK
In a surprise, brazen move, FXCM - just out of its own trouble, has emerged as a potential savior for
Forex Magnates has just learned from sources close to the matter, that in a surprise, brazen move, FXCM – just out of its own trouble, has emerged as a potential savior for Alpari UK.
FXCM itself went into the red this Friday with $225 million in client losses due to CHF exposure and had to turn to an outside firm to raise funds. It now seems the American firm asked for the $300 million Leucadia National bailout so it can not only recover but also expand.
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This move can be seen as a brilliant play by Drew Niv, showing both traders and investors his firm is not only still in business but intends to use this time to aggressively expand.
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Due to the sensitive nature of such negotiations Alpari UK and FXCM have yet to confirm the report but Forex Magnates will update our readers as soon as that information is made publicly available.
Virtually all brokers have been releasing updates over the weekend about their reaction to the game-changing floor drop by the Swiss National Bank (SNB). While some faced losses, others made it clear that they are on the hunt for new business, either by targeting clients directly as a marketing strategy or by expressing interest in acquiring assets from failing market participants.
All of these rapid movements are tracked on this real time post.
Wow, if this indeed materializes, it is quite an amazing twist.
Kudos for your excellent reporting!
Bankrupt X Bankrup = Bankrupt Squared.
After Thursday’s debacle would you want you money with either company ??? Shows FXCM’s arrogance…..
@ken agree
And
Most people traded with Alpari for the sole reason of not wanting to trade with FXCM. They were another ‘big name option’.
What we will see going forward is more retail trades using more than one broker instead of going with the biggest broker ( where they thought the larger deposit was safe )
Zombi + Zombi = ???
“This move can be seen as a brilliant play by Drew Niv, showing both traders and investors his firm is not only still in business but intends to use this time to aggressively expand. ”
Maybe Forexmagnates can ask Drew Niv how did he manage to set-up such a brilliant risk management system that FXCM was practically bankrupt in less than a day?
Maybe you can also ask some >$1 million traders would they deposit money with FXCM or FXCM+Alpari?
I would still use alpari, as they had great service, and even if alpari was acquired by FXCM, it would be good news. I cant wait to hear a final announcement on this topic
I just think that this is a funny stories 225M plus 45M lose in this situation. Did you think that the customers can refund back to you? Especially the clients from China. As this risk system is your reponsibility, I dont think clients refund the money is make sense because this is obvious is your fault.
If FXCM happen once more this week. I am 100% sure FXCM is going to bankrupt. Good luck for guys for using FXCM and Alpari UK
We will certainly get more details about that soon. The positive news is that they have disposed of their losing enterprises in Australia and Gibraltar.
We will certainly get more details about that soon. The positive news is that they have disposed of their losing enterprises in Australia and Gibraltar.
I'm not trusting FXCM or AlpariUK anymore. Moving up to Dukascopy instead.
I wont trust fxcm, alpari and swiss forex broker, just cheating. I better choose darwinex. Sometimes smaller broker is still good.
Unsure how the FCA would ever allow this deal to go through?! Gain have already said they are not interested but there are a few companies who have come out to say they are looking to take advantage for acquisition purposes at this time.
Forexmagnates already quoting GKFX and Gallant could be buyers and I have also heard that Alpha Capital Markets are enquiring about acquisitions as well as sniffing around Alpari!
Do you guys honestly believe that FCA would approve a merger between two troubled and bankrupt companies? Maybe they would even approve Jon Corzine becoming new CEO of the merged company?
Honestly, I’ve never understood why would people trade at these mammoth brokers where customer service and execution quality is as low as it can possibly get.
There are so many medium-size brokers (monthly trading volume exceeding $20 yards) out there who provide on average very good service: Axi Trader, FX Open, Tickmill, IC Markets, Pepperstone, Liquid Markets, FX Primus, JFD Brokers.
Guys, FXCM already owns all of Alpari’s US accounts, its most likely that Alpari will be aquired by FXCM, as Alpari has been in a loss for the last 2 years
@ Ingmar aka Raj: get a life and pay google to promote Tickmill and not via comments..
Personal preference I suppose. Alpari gave excellent professional service to me! Very new at FX trading and found out about Alpari through football (West Ham United) sponsorship.
From South Africa and Alpari offered ZAR as base currency, anyone else offer this?
According to a source close to deliberations FXCM WAS NEVER ON THE LIST OF ALPARI buyers. According to the same source, a press release will be issued in 40 minutes (21 GMT) which will disclose by whom Alpari UK will be “taken over”.
You are correct! I had only noticed the first (Lipra) I was wondering if anyone would catch those as the names spelled backwards hint at the subject. 😉
Happy April Fool’s Day to all who celebrate ~
You are correct! I had only noticed the first (Lipra) I was wondering if anyone would catch those as the names spelled backwards hint at the subject. 😉
Happy April Fool’s Day to all who celebrate ~
My bet is IronFX.
@ raj – not impossible given that ironfx just like fxcm received a lot of bad press lately and could use such high profile deal to shift public’s focus elsewhere
lol @ Ingmar
my sources say ironfx is in discussions for acquiring XM & fxpro – both struggling to survive after being severely hit by the SNB intervention
then we render this a stunning success!
then we render this a stunning success!
Lmao, IC MARKETS IS BAD!!!! Who said they were good? They are actually ETORO ASIA PACIFIC LTD (ASK ASIC if you dont believe, and thus if u say ICM is good then u are also saying ETORO is good lol) and they counter trade ALL of you, says their PDS. If you are very profitable say at least 50% profit for the month, they will do tricks such as giving you bad lag, requotes, slippage etc in all their platforms which NOT even the best VPS can help, and complaining to them does NOT help. They lie so much, I… Read more »
It’s funny, I was thinking of trying out Alpari as I was with FXCM before all of this happened. I don’t know why the logical step is not OANDA for most traders. I can’t for the life of me understand why anyone would want two bankrupt companies.
My MT4 seems to be running smoother with OANDA, though trading has just started. Watch out for the ECB meeting this week…who else will fall?!
The comments on here show the ignorance of most retail trader. Most bitch about not wanting the dealer to take the other side of their trades but the firm’s with a principal trading model were the one that did well or had the “proper Rusk management” in place in they were just on the other side of your trades. The agency model which most say they want because there was no market to lay off into. It was a 30% move in a major currency over a matter if minutes. Even had leverage been lowered the agency brokers would be… Read more »
I do not care what they do as long as I get my money back, it shows their business model for their own protection was not robust enough
I am more than happy with the company that I deal with for fx trading cwmfx.com
Denial from FXCM….Pepperstone in the frame.
@Ken, what do you mean with “pepperstone in the frame”?
The Wall Street Journal reports that Australia’s Pepperstone is showing interest.
Yohay – pepperstone/shift forex is feeding WSJ with whatever PR stunts they can, been like that since that ‘IPO’ in 2013
woooww… top loser is FXCM
There are lots of PR stunts. I guess we’ll know the fate of Alpari UK by the end of the day.
FXCM are the worst son of a bitches and I have not used them since 2006. I do not intend on using them as they have not changed even to this day. My friends all have problems with them and I have told them to move on. They should be broker just like Alpari. These both corrupt brokers have only one goal and that is to screw the client. Hey look what happened. SWISS GOVERNMENT SCREWED YOU ALPARI AND FXCM. GO FIGURE. SCREW HEADS. Do not by into the idea that they are the biggest brokers. They are biggest brokers… Read more »
*typo
they owe him $250k.
Steven, I expect more rigor–not a mere polling. Moreover, it is symptomatic of an industry that is adept at producing noise and drivel that is marketed and spun as something meaningful and relevant. Not trying to be overly harsh…just tired of an endless stream of vacuous “research”.
Steven, I expect more rigor–not a mere polling. Moreover, it is symptomatic of an industry that is adept at producing noise and drivel that is marketed and spun as something meaningful and relevant. Not trying to be overly harsh…just tired of an endless stream of vacuous “research”.
So at the end of this day Alpari would have taken a decision?
I would love to hear that Alpari stand up again without being sold !
I will stay with them if so
I really like alpari alot has they made me understand how to trade far better than FXCM or Etoro. it would be nice to hear that they are back on line and would still have them has my broker.
Hi James, thanks for the explanation. I can relate to what you are saying as I think the challenge brokers might have is being limited to only their own client base, in terms of polling & surveys, I don’t think you are being overly harsh, and appreciate the comments. For reasons like these, in terms of limitations sometimes in reports like this, we have the Forex Magnates Quarterly Industry Report (QIR) which by the way the latest one for Q1 2014 should be out within days, and contains extensive research that is both meaningful and useful in many ways, in… Read more »
Hi James, thanks for the explanation. I can relate to what you are saying as I think the challenge brokers might have is being limited to only their own client base, in terms of polling & surveys, I don’t think you are being overly harsh, and appreciate the comments. For reasons like these, in terms of limitations sometimes in reports like this, we have the Forex Magnates Quarterly Industry Report (QIR) which by the way the latest one for Q1 2014 should be out within days, and contains extensive research that is both meaningful and useful in many ways, in… Read more »
Is there any new about Alpari UK?