IronFX and Pepperstone Enter Race to Take Over Alpari UK's Business
All these reports might be true but they are also a great way for international brokers to get media exposure
According to media reports by Reuters and the Financial Times, IronFX is yet another contender for the remaining business of Alpari UK. The Cyprus headquartered company has expressed its interest in a statement, revealing that it will be submitting a bid for the UK branch of Alpari in the aftermath of the Swiss franc debacle.
This happens in conjunction with other reports in recent days that Australian Pepperstone is also interested in acquiring the business of Alpari UK.
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It was also previously revealed by Forex Magnates that FXCM was looking into buying Alpari UK, or parts of it, even before the firm was placed in special administration.
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All these reports, and similar PR announcement circulating online, might be true, but they are also a great way for international brokers to get media exposure in the UK as the demise of the local Alpari branch, a sponsor of West Ham United FC, is making headlines in the press.
KPMG, now in charge of Alpari UK’s special administration, said they will make an effort to save the firm as a solid unit to protect the jobs of the British staff. Buyers, however, might want to take over just a part of the business, like its offices in Dubai, China or Japan, or even just the client book.
Pepperstone are pathological liars, they wont be taking over anything.
@Jon – Forex Magnates contacted ASIC when the summary was submitted and presented them with specific questions related to both the FX industry and Binary Options. If we will get a meaningful answer from ASIC we will update.
More and harsher fines and “a more flexible regulatory toolkit” is something that brokers should look out for.
Requiring “a comprehensive national register of advisers” can prevent the use of Copy Trading and Signal Trading if applied to FX.
@Jon – Forex Magnates contacted ASIC when the summary was submitted and presented them with specific questions related to both the FX industry and Binary Options. If we will get a meaningful answer from ASIC we will update.
More and harsher fines and “a more flexible regulatory toolkit” is something that brokers should look out for.
Requiring “a comprehensive national register of advisers” can prevent the use of Copy Trading and Signal Trading if applied to FX.
How can Pepperstone pay $45 mill for Alparis debit balance if they only have $2 mill in the bank. These Pepperstone clowns are jokers.
Pepperstone wants publicity, thats all…
PEPPERSTONE knows that such marketing tactics works with non listed company. I think they should get into marketing business instead of financial services. Bunch of jokers!
Further PEPPERSTONE is offering 1:500 leverage, when the world is reducing the leverage…use your logic… They are in trouble and need money.
@Shane…Owen and his team are MLM'ers and come from just that, a marketing background. With that said, if they can get the Japanese book at a reasonable discount, may be a nice re-approach to the JPY market 😉
@ Shane The unchanged leverage is the right way. Not the leverage is the problem it is the risk adjustment systems from the brokers. You can’t earn money as a retailer with a leverage of 50:1 because if you want earn money you have more open positions than 1 or 2 at the same time. You need the high leverage to have enough capital for the margins of other positions. 100:1 up to 200:1 would be the right way but the brokers change it to 2%. Can’t understand that.
@Jon – MB has a targeted FX offering to FX traders along with their overall product line. Not every platform is so suitable for every asset class
@Jon – MB has a targeted FX offering to FX traders along with their overall product line. Not every platform is so suitable for every asset class
There are rumors Pepperstone have engaged private equity firm KKR to bid on Alpari
@Jonas, as if KKR has ever even heard of Pepperstone. Dont pay any attention to what Publicity craving Owen puts out there, these guys are MLM small timers trying to look much bigger than they actually are (remember all that IPO nonsense a few months back?). Even some IBs have more client funds under management than Pepperstone. I could’ve also spread rumours that I was looking into buying a minority stake in Lehman….
@James – They got included under MiFid as a financial product http://ec.europa.eu/yqol/index.cfm?fuseaction=question.show&questionId=1095 . So its not a debate against CySec but against the EU’s interpretation of the product. CySec is just following the guidelines (BO happens to be a hot market for them, but that is a separate issue)
@James – They got included under MiFid as a financial product http://ec.europa.eu/yqol/index.cfm?fuseaction=question.show&questionId=1095 . So its not a debate against CySec but against the EU’s interpretation of the product. CySec is just following the guidelines (BO happens to be a hot market for them, but that is a separate issue)
Very lazy journalism here. You can get Pepperstone’s financials from ASIC(at a small cost) which showed they had a bit more than A$60m in client funds at end of June 2014. With Japanese clients gone, which they stated made up 40% of client base, brings them back to A$36m in total client funds. Yet some how they are going to inject USD$45m cash into Alpari, plus due diligence and advisor costs. Its just lazy that the wall street journal, australian news papers, leaprate and forex magnates take Own Kerr seriously. He said they were going IPO in 2013………..
@MC As I would imagine the job is evaluated on performance, than the former makes more sense than the latter. But then the question is whether EF’s business model of wide spreads fro customers, but benefits for partners, is still viable in the current market. Many firms are still doing well with such a model. But, as partners are such an important factor of survival, CMOs with strong connections are at a premium but would understandably be replaced if performance doesn’t match expectation.
@MC As I would imagine the job is evaluated on performance, than the former makes more sense than the latter. But then the question is whether EF’s business model of wide spreads fro customers, but benefits for partners, is still viable in the current market. Many firms are still doing well with such a model. But, as partners are such an important factor of survival, CMOs with strong connections are at a premium but would understandably be replaced if performance doesn’t match expectation.
@victor you guys would have seen their financials and are in the position to call BS. You are the fx industry main news site. Call apart and see if they got any serious correspondence from pepperstone then write a follow up article calling it BS
Apart=alpari
IronFX is completely full of shxt.
Why did not Forex Magnates report on the fact that IronFX has already PAUSED all Chinese clients withdrawal requests?
Does that mean squat to everybody that IronFX is already INSOLVENT?
What a joke.
Two of the world biggest lying brokers one of which has virtually collapsed the other has lost 40% of their client as they were breaking the law. How is it that people actually publish such lies.