I love very much that some people took action forming this new thread in addition to a petiton site.
Albeit this activity appears to have happened very spontaneously.
Imho it might have been advisable to first discuss what exactly we wish to achieve and what options we realistically need to arrive.
My difficulty with the 4fx. Club request is that there's not any content saying exactly what the request is all about, or what for / how it is going to be utilized.
A request include more than only a listing of titles.
The way Leaprate have set up it makes a little more sense, since they state that the request is likely ... to be formally presented to Particular Adminior KPMG, asking that customer monies be returned directly to those customers whenever possible.
A statement much like that is entirely missing at 4fx. club/petition.
I state this not to belittle it or to discourage anybody to sign it.
It's only that taking action without a transparent goal and considering how to accomplish that, is a bit like shooting an arrow in the air, hoping it will somehow land in the perfect spot. It may well do. However, while you plan the arrow at a specific goal, chances are greater it will hit it, and possibly with more power ....
For the two petitions, we are expected to trust the originators with our information. Which maybe not everbody might love to.
Therefore my guess is that the number of signatories may not mirror the number of affected traders.
Anyway, it is a beginning.
Apart from that I still have questions regarding the legality of Alapri UKs justifiion for closing down, and how KPMG is handling the Special Adminiion.
My major issues right now are:Force Majeure. If Alpari can claim this as reason they closed our (non-swissy) trades and their operation, it simply means they aren't responsible for any losses that we traders incurred since Alpari did exactly what it did. My take is : they are accountable because what happened wasn't an unforseeable Black Swan event or such. They just were not prepared because of their dismal (risk) mangement practise. So imho Alapri UK is responsible for any losses incurred. And I will claim back my losses too, not just my equilibrium. Is it really legal in the UK the costs and expenses of dealing with and distributing customer assets (including client monies) are paid out of customer assets? And what does this mean? Do the so called client monies include the segregated funds of retail customers? If this could be true, basically we, the retail customers would need to pay the Special Adminiors for return what is left of our money pro rata after KPMG has deducted their fees. This could be a clear conflict of interests. And if this is what is likely to happen to us, then that's nothing but institutionalized atomic! Theft by Regulation? Please somebody tell me, that's not what is likely to happen ... Ok, the Particular Adminion has strict rules, which will require a while to process. However, what if the Special Adminiors become creative and find ways to spend more time on it for example by creating a type of portal, rather than using the Alpari UK account bills, brochures etc.. Might be lawful, but imho not legitimate. Read stage 2 again. Are traders which are not any UK residents covered at all by FCA / FCS? I'm not a attorney and do not reside in the united kingdom.
Maybe a few of you residing in the united kingdom will help connect the above dots?
Can someone dig up a listing with UK attorneys that specialize in Insolvency Finance Industry?
Maybe someone can even get a complimentary consultation on the above questions?
We will need to completely grasp what is just going on, as well as our rights and our legal options to deal with it.