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. [11] [12] On January 19, Alpari (UK) Ltd. applied for formal insolvency and the English High Court appointed a special administrator from KPMG under the Special Administration Regime. [13]
Alpari-Broker Ltd. (Russian:ООО «Альпари-Брокер») was established as legal entity in September 2008 in Kazan, Russia. It was licensed as a professional participant of the equity markets for providing brokerage, dealership and money managing services by the Central Bank of Russia. [14]
Additionally, it was an associated member of NAFD (National Association of Forex Dealers), a self-regulatory organization created by Forex brokers. [15] Since March 2017, Alpari is a member of AFD (Association of Forex Dealers) — the only SRO accredited by the Russian central bank. [16]
On December 27, 2017, the Central Bank of Russia revoked Alpari's license (along with the license of four other FX brokers), effectively ordering it to stop its Russian operation by January 27, 2018. [17]
Alpari US LLC was established in 2006. [18] It had its NFA membership approved in November 2007 and removed in April 2015. [19] In April 2015, the company's US NFA membership was revoked, preventing them from offering their services in the United States. [19]
In September 2022, the Reserve Bank of India (RBI), India's central bank, released a list of 34 forex trading online platforms, in which Alpari was also listed as illegal in India. [20]
The Alpari brand is present in 165 countries. Alpari specialises in online trading and investment services.
Alpari has a long history in Forex trading - with a peak trading volume of USD 2.5 trillion in a single year. [21]
Alpari currently has a user base of 2 million, making it one of the largest Forex brokers in the world.
Alpari is incorporated under registered number 20389 IBC 2012 by the Registrar of International Business Companies, registered by the Financial Services Authority of Saint Vincent and the Grenadines, and is a member of The Financial Commission - an international organization engaged in the resolution of disputes within the financial services industry in the Forex market.
The company was established by Andrey Dashin, Chairman of the Board of Directors. Andrey Valerievich Dashin owns both Alpari and another foreign exchange broker, FXTM, also known as ForexTime. [22]
The Alpari Charitable Fund was founded in 2005 by Andrey Dashin with the goal of helping children from the Republic of Tatarstan to reach their full potential, regardless of their socio-economic background or mental and physical disabilities. [23]
In 2018, the Alpari Charitable Fund provided a total of 29.4 million rubles in of support to residents of Tatarstan. [24] In the first half of 2019, a total of 24.9 million rubles was provided in support to beneficiaries in Tatarstan. [25]
The Swiss franc, or simply the franc, is the currency and legal tender of Switzerland and Liechtenstein. It is also legal tender in the Italian exclave of Campione d'Italia which is surrounded by Swiss territory. The Swiss National Bank (SNB) issues banknotes and the federal mint Swissmint issues coins.
The foreign exchange market is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market.
ICICI Bank Limited is an Indian multinational bank and financial services company headquartered in Mumbai with a registered office in Vadodara. It offers a wide range of banking and financial services for corporate and retail customers through various delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management.
The Foreign Exchange Dealers Coalition (FXDC) was an alliance of the largest U.S. foreign exchange market dealers, that appears to have closed sometime after 2010. The FXDC partnership was formed in the fall of 2007 to pool industry resources to demonstrate the viability of the forex industry and to ensure fair regulation and oversight that does not hamper freedom of choice, innovation or job creation. The Coalition aimed to provide input to the proposals for major regulation changes at the time, including the required registration for Retail Foreign Exchange Dealers (RFEDs) with the National Futures Association.
Retail foreign exchange trading is a small segment of the larger foreign exchange market where individuals speculate on the exchange rate between different currencies. This segment has developed with the advent of dedicated electronic trading platforms and the internet, which allows individuals to access the global currency markets. As of 2016, it was reported that retail foreign exchange trading represented 5.5% of the whole foreign exchange market.
Matchbook FX was an internet-based electronic communication network for trading currency online in the Spot-FX or foreign exchange market. It operated between 1999 and 2002.
FXCM, also known as Forex Capital Markets, is a retail foreign exchange broker for trading on the foreign exchange market. FXCM allows people to speculate on the foreign exchange market and provides trading in contract for difference (CFDs) on major indices and commodities such as gold and crude oil. It is based in London.
A non-bank foreign exchange company also known as foreign exchange broker or simply forex broker is a company that offers currency exchange and international payments to private individuals and companies. The term is typically used for currency exchange companies that offer physical delivery rather than speculative trading. i.e. there is a physical delivery of currency to a bank account.
GAIN Capital was a US-based provider of online trading services, headquartered in Warren, New Jersey until it was acquired by StoneX Group in 2020. The company provided market access and trade execution services in foreign exchange, contracts for difference (CFDs) and exchange-based products to retail and institutional investors. Trading was provided via one of two electronic trading platforms, its own proprietary FOREXTrader PRO later renamed as StoneX Pro and MetaTrader 4. GAIN Capital allowed retail and institutional clients to speculate on global foreign exchange markets in what is known as ‘margin forex trading’.
Mirror trading is a trading selection methodology that can be carried out in both the foreign exchange and the stock markets; however, this is much more common in trading in the foreign exchange market.
The Cyprus Securities and Exchange Commission, better known as CySEC, is the financial regulatory agency of Cyprus. As an EU member state, CySEC's financial regulations and operations comply with the European MiFID financial harmonization law.
Foreign exchange regulation is a form of financial regulation specifically aimed at the Forex market that is decentralized and operates with no central exchange or clearing house. Due to its decentralized and global nature, the foreign exchange market has been more prone to foreign exchange fraud and has been less regulated than other financial markets.
The Moscow Exchange is the largest exchange in Russia, operating trading markets in equities, bonds, derivatives, the foreign exchange market, money markets, and precious metals. The Moscow Exchange also operates Russia's central securities depository, the National Settlement Depository (NSD), and the country's largest clearing service provider, the National Clearing Centre. The exchange was formed in 2011 in a merger of the Moscow Interbank Currency Exchange and the Russian Trading System.
Finam Holdings is a financial services company headquartered in Moscow, Russia. It is the parent company of Finam Investment Company. In April 2017 it was the third largest brokerage firm in Russia, and ranked second among providers of individual investment accounts in the country.
ActivTrades is a UK-based brokerage firm providing an electronic trading platform to trade Forex, Contracts for Difference (CFDs), and spread betting. It provides services to retail and institutional traders via the electronic trading platforms ActivTrader, MetaTrader 4, MetaTrader 5 and TradingView.
Swissquote Group Holding SA is a Swiss banking group specialising in providing online financial and trading services. The Group's shares have been listed on the SIX Swiss Exchange under the ticker symbol “SQN” since 29 May 2000. Its headquarters are located in Gland, Switzerland. The company also has offices in Zurich, London, Dubai, Hong Kong, Malta, Cyprus, Bucharest, Singapore and Luxembourg, with more than 1,134 employees in 2023. Swissquote Bank Ltd holds a banking licence issued by its supervisory authority, the Swiss Financial Market Supervisory Authority (FINMA), and is a member of the Swiss Bankers Association (SBA). The Group's headquarters are located in Gland, Switzerland. The Group has 1040 employees as of December 2022.
FIBO Group is an international financial holding company established in 1998 that provides online trading services (brokerage) mainly on foreign exchange market (Forex). It also offers an electronic trading platform for the purchase and sale of financial securities, CFDs, commodities and cryptocurrencies.
Dukascopy Bank is a Swiss online bank which provides online and mobile trading, banking and financial services. Headquartered in Geneva, Switzerland, it also has offices in Riga and Tokyo, with over 300 employees.
Forex Club is a group of companies based in Saint Vincent and the Grenadines participating in the retail market of Contract for difference, Foreign Exchange Trading. The company uses the Libertex web and mobile trading platform in addition to MT4 and its structure includes financial and educational companies.
FxPro is a London-based online broker that provides CFD contracts in foreign exchange, stocks, futures, and precious metals. It has offices in London, United Kingdom and Cyprus and is regulated by several regulatory authorities.