Alpari Group

Alpari Group
Private
Industry Financial services
Founded December 1998 (1998-Dec)
Founder Andrey Dashin (Chairman)
Vladimir Verbitskiy (CEO)[1]
Headquarters Port Louis, Mauritius
Services Financial Brokerage

Alpari Group is a binary options, foreign exchange, precious metals, and CFD broker that has a record of insolvency and regulatory difficulties. The company's UK entity entered insolvency on January 19, 2015, following heavy losses trading the Swiss franc against the euro.[2] In April 2015, the company's US NFA membership was revoked, preventing them from offering their services in the United States.[3]

The company is licensed to trade in

The company's charter is registered in Saint Vincent and the Grenadines. Alpari Research & Analysis Limited, which gives a London address, provides only research and analysis and is not licensed to trade.[8]

Andrey Valerievich Dashin claims ownership of both Alpari and another foreign exchange broker FXTM also known as ForexTime.[9]

History

The company was established in Kazan, Russia, in 1998 by Daniel Skowronski, who became the first CEO, and Andrey Vedikhin, Andrey Dashin and Gleb Petrov.

United Kingdom

Alpari (UK) was founded in 2004. It was regulated by the Financial Conduct Authority in September 2006. The company opened and closed several branches in other countries. Cyprus office opened in 2010 and the CySEC license was acquired that year and renounced in December 2012. That office closed in February 2013.[10][11] Alpari (UK) entered Indian market in 2008 and left India in March 2014.[12] For UK residents, the company also offered financial spread betting on Forex and indices.[2]

On January 16, 2015, Alpari has entered insolvency following heavy losses the previous day when the Swiss National Bank removed the franc's ceiling against the euro.[13][14] On January 19, Alpari (UK) Ltd. applied for formal insolvency and the English High Court appointed a special administrators from KPMG under Special Administration Regime.[15]

Russia

Alpari-Broker Ltd. (Russian: ООО «Альпари-Брокер») was established as legal entity in September 2008 in Kazan, Russia. It is licensed as a professional participant of the equity markets for providing brokerage, dealership and money managing services by the Central Bank of Russia[16]

Additionally, it is an associated member of NAFD (National Association of Forex Dealers), a self-regulatory organization created by Forex brokers.[17] Sergey Vyazmin, the director of international development at Alpari, is also on the board of directors of this SRO.[18] Since March 2017, Alpari is a member of AFD (Association of Forex Dealers) — the only SRO accredited by the Russian central bank.[19]

According to the Finmarket information agency, in 2014, Alpari became a top Russian Forex dealer, based on the number of clients and average monthly turnover. The company has 120,000 active clients or a 28.35% market share. The second-largest company is Forex Club, with its 7,183 clients and a 16.97% market share.[20]

United States

Alpari US LLC was established in 2006.[21] It had its NFA membership approved in November 2007 and removed in April 2015.[3]

References

  1. ↑ Kirilova, Valentina (2018-05-08). "Vladimir Verbitskiy named CEO of the Alpari brand". LeapRate. Retrieved 2018-05-08.
  2. 1 2 "News for customers of Alpari (UK) Limited". Financial Conduct Authority. January 20, 2015. Retrieved March 6, 2017.
  3. 1 2 "ALPARI US LLC". NFA. Retrieved 14 April 2015.
  4. ↑ "Information about the legal entities included in the forex companies registry as of 03.09.2017". National Bank of the Republic of Belarus. Retrieved March 9, 2017.
  5. ↑ "List F". International Financial Services Commission of Belize. Retrieved March 9, 2017.
  6. ↑ "Public Register". Financial Services Commission, Mauritius. Retrieved March 9, 2017.
  7. ↑ "О выдаче лицензии ООО "Альпари Форекс"" (PDF). ВЕСТНИК БАНКА РОССИИ. Central Bank of Russia. December 7, 2016. p. 10. Retrieved March 9, 2017.
  8. ↑ "The brand Alpari". Alpari (Belarus). Retrieved March 9, 2017.
  9. ↑ "Andry Valerievich Dashin". Andry Valerievich Dashin. Retrieved March 9, 2017.
  10. ↑ "Alpari Financial Services Success Story". Cyprus.com. Retrieved 13 April 2015.
  11. ↑ "CySEC Announcement". CySEC. 8 May 2013. Retrieved 13 April 2015.
  12. ↑ Mishra, Lalatendu (28 March 2014). "Alpari India shuts shop". TheHindu.com. Retrieved 13 April 2015.
  13. ↑ "Swiss franc shock forces West Ham shirt sponsor Alpari out of business". The Telegraph. 16 January 2015. Retrieved 13 April 2015.
  14. ↑ "Alpari UK currency broker folds over Swiss franc turmoil". BBC News. 16 January 2015. Retrieved 13 April 2015.
  15. ↑ "Notice of special administrators' appointment". 19 January 2015. Retrieved 13 April 2015.
  16. ↑ "Список организаций, имеющих лицензию профессионального участника рынка ценных бумаг на осуществление брокерской деятельности". CBR.ru (in Russian). 17 January 2014. Retrieved 13 April 2015.
  17. ↑ "Members of NAFD". NAFD.ru. Retrieved 23 March 2016.
  18. ↑ "Board of directors". NAFD.ru. Retrieved 23 March 2017.
  19. ↑ ""Alpari Forex" became a member of the Association of Forex dealers". BrokerSearch.ru. 14 March 2017. Retrieved 23 March 2017.
  20. ↑ K.S. Myrzin, T.G. Ilyina (2015). "Statistics of Private Forex Trading in Russia and the USA" (PDF). Accounting and Finance. 1 (17): 39–42. Retrieved 2016-09-25.
  21. ↑ "Company Overview of Alpari (US), LLC". Bloomberg. Retrieved 3 July 2017.
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