de | cn | ru

Brokers News

Alpari Bails Out of New Zealand, Moves Clients to Caribbean-based Alpari Limited

May 15 2013
By
So, we've been talking about Alpari a lot lately, or hadn't you noticed? Honestly, those guys have really been on a roll lately. It has been a regular freakshow of new currency pairs, account types, trading platform tweaks, improved trading conditions, not to mention the company's outstanding trading volumes. Unfortunately, with great success comes great responsibility. In Alpari's case, this means a duty to keep its clients happy.
 
To that end, the broker has announced that all clients registered with Alpari NZ Limited will be transferred to a brand new company, Alpari Limited as of June 3, 2013. The reasons for this move are related to certain planned changes in New Zealand legislature, which will force local brokers to enforce more restrictive trading terms. Though we are not yet aware of the specifics to the upcoming legislation, we can make an educated guess that they will have to do with some talks that went back and forth in the New Zealand government for a while when the Cyprus crisis hit. The idea was for a depositor haircut to be implemented in case of any future bank failures. There would be no limit to the haircuts, just a provision in the law that would allow banks to back up their failures with money held as deposits. Also, the New Zealand financial regulator, FPS, recently implemented a rule forcing all FPS-registered brokers to have a physical office in the country, which made as many as 250 companies exit the New Zealand scene.
 
To be honest, considering these facts, I can't say I'm surprised Alpari has decided to bail as well. The new company, Alpari Limited, is based on the Caribbean island of St. Vincent – where the Pirates of the Caribbean movie was filmed several years ago (wonder if Alpari's accepting job applications?). I'm guessing the company management has just had enough stress and is ready to lie around on the beach drinking cocktails for a while. Though they can't bring us along, they are promising their clients will not feel any pain over the transfer, and there will be no worsening of trading conditions. In fact, the company is promising to make “significant improvements in the margin requirements on different account types” (as stated in the official Alpari press release). Of course, anyone sentimental enough to want to stick with the old Alpari NZ and its new, less favorable trading conditions, can do so as is their will, but they will be required to open a new account.  
 
Interestingly enough, this is not Alpari's first run-in with Forex regulation. A few days ago, the broker abandoned its native Financial Regulation Agency (FRA, or KROUFR), due to disagreements with self-regulated organization (SRO). Earlier this month, we also saw an announcement posted on the website of Cyprus regulator CySEC, stating that the company Alpari Financial Services Ltd, which is also part of the Alpari group of comapnies, had “renounced its authorization”. So maybe this is more than just a strong desire to drink rum and lie under a palm tree – maybe Alpari is just really, really unhappy with Forex regulation as a whole. 
 
 

About Alpari

 
Founded in 1998, the international Alpari brand is one of the leading names in online Forex trading and was recently listed as the world's third largest broker in a 2012 report from online financial portal Forex Magnates, with an average monthly trading volume of more than $200 billion.
 
Alpari has earned the trust of hundreds of thousands of clients in more than 150 countries across the world, thanks in large part to its reputation for delivering high-quality products and top-notch customer support. The Alpari brand is represented in many of the world's leading centers of commerce, with offices in New York, London, Tokyo, Dubai, Frankfurt and Moscow.
 
TAGS: alpari  alpari nz  alpari limited  client transfer  transfer 

More news about Alpari

Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

More Forex Brokers News

Trip For Pip: FBS To Launch A Quest Game For A Trip To London, Tokyo, Or Dubai

Oct 29 2019 14:09:54

FBS broker starts its new marketing campaign, and it has already attracted many eyeballs on social media. The promotion is called “Trip for Pip,” and it is very engaging for several reasons:    a) it’s playable;  b) it features a dream trip for two as the main prize. Read more

HYCM tops the list of brokers with highest percentage of winning clients

Oct 23 2019 12:12:59

The importance of choosing a reliable broker is paramount to trading. Most traders have given a serious thought to the security of their investments and these concerns are increasingly common in this highly competitive market. Read more

FXCM expands its crypto offering with CryptoMajor baskets

Oct 14 2019 14:49:01

  Major forex broker FXCM Group enhances its CFD offering with the launch of CryptoMajor- cryptocurrency baskets, which will allow its clients to trade in to multiple digital assets in one go. Read more

FXTM Launches 30% Welcome Bonus

Aug 06 2019 13:38:53

  As part of FXTM’s mission to provide clients with an exceptional trading experience, the international broker has launched its latest offering – the 30% Welcome Bonus!   This promotion, available under Exinity Limited, boosts your account by an extra 30% when you deposit $100... Read more

XM parent actively prepares for the launch of its US brand Trading.com

Jul 03 2019 14:19:28

  Trading Point Group, the owner and operator of the XM brand, actively prepares for the future launch of its US brand Trading.com. Read more

FBS Invites 20 Best Partners To a VIP Party

Jul 02 2019 15:04:24

Partner parties is a great way to get to know company’s local promoters and celebrate loyalty, motivation, and cooperation. In 2019, FBS broker launches the FBS Stars contest with a round trip flight to Russia’s second largest city and a VIP party invitation as a prize. Read more

Vantage Prime will no longer service non-Australian clients

May 20 2019 13:36:39

  Vantage Prime, which is a part of the Vantage FX group, announced it will no longer service non-Australian clients, online media Finance Magnates reported today. The broker’s decision is taken due to regulatory concerns. Read more

Dukascopy warns it has no cooperation with shady broker GCG Asia

May 16 2019 13:29:47

  Swiss forex brokerage and bank Dukascopy has repeatedly warned investors that it is has no cooperation Guardian Capital Asia (GCG Asia) and that the latter is likely involved in a fraudulent scheme. Read more

$75 mln forex Ponzi scam revealed in the US

May 03 2019 16:46:08

The Commodity Futures Trading Commission (CFTC) in the US has filed charges against Florida based Oasis International Group, Oasis Management and Satellite Holdings along with their owners for running a 75 million USD Ponzi scheme, concealed as forex investment program. Read more

Australians lost $86 mln to investment scams in 2018

May 02 2019 17:04:18

Australians lost over 86 million USD to investment scams in 2018 alone – the biggest portion of the almost 490 million USD  in losses from over 378 000 scam reports, the latest report of the Australian Competition and Consumer Commission’s (ACCC) reveals. Read more

de | cn | ru