Alpari Bucketshop

Soloquan

Established member
646 24
Found this thread over at ForexPeaceArmy this morning.

Very interesting indeed. The complainant to Alpari has included 7 videos of constant requotes when trying to exit and 'trade context busy' when trying to place a trade. The complainant says this only started to happen when they started to win.

If you read the thread Alpari do respond but I'll leave you to draw your own conclusions.

I know how some of you love your conspiracies and there was a big debate a few weeks back here on bucket shops using Virtual Dealer from Boston on MT4 platforms. This might add fuel to that little fire ;)

Caught by Live Platform Video Clips - How Alpari UK subtly forces you into paying multiple folds more pips than their published spreads!
 
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Soloquan

Established member
646 24
Just noticed although the complainant says "started to win" take a look at some of those astronomical losses they've racked up there in open positions when trying to close out a different trade for about $4 :D

Oh and apologies if this has already been posted, I did a quick search... ish but I like to give the mods something to do if this is a repost
 

tar

Legendary member
10,443 1,313
This has nothing to do with Alpari , all fx retail brokers and all Spreadbetting companies are bookies , it is gambling not trading , if you lose they win if you win they lose ...
 

pboyles

Legendary member
8,072 1,302
Found this thread over at ForexPeaceArmy this morning.

Very interesting indeed. The complainant to Alpari has included 7 videos of constant requotes when trying to exit and 'trade context busy' when trying to place a trade. The complainant says this only started to happen when they started to win.

If you read the thread Alpari do respond but I'll leave you to draw your own conclusions.

I know how some of you love your conspiracies and there was a big debate a few weeks back here on bucket shops using Virtual Dealer from Boston on MT4 platforms. This might add fuel to that little fire ;)

Caught by Live Platform Video Clips - How Alpari UK subtly forces you into paying multiple folds more pips than their published spreads!

Its not really a conspiracy when it has been proven by the relevant authorities and the culprits have been heavily fined. I believe all forex brokers and SB firms are doing this sort of thing, up to now only a handful have been caught, the rest will be caught eventually.
 

Soloquan

Established member
646 24
Its not really a conspiracy when it has been proven by the relevant authorities and the culprits have been heavily fined. I believe all forex brokers and SB firms are doing this sort of thing, up to now only a handful have been caught, the rest will be caught eventually.

You mean caught using the Virtual Dealer Plugin? Or caught manipulating prices?

What I don't understand is why SB and Bucketshops need to do this anyway if 90% are 'loosers'?

Yes yes that's been asked a thousand times on here it's a rhetorical question :p
 

wackypete2

Legendary member
10,229 2,053
I watched 1 video. I'm not going to defend Alpari since I don't use them but I will say it's easy to blame the broker when you don't know what you are doing or how your platform works. In the vid I watched the issue was "Trade Context Busy". This is a bug in MT4 AND HAS NOTHING TO DO WITH ALPARI OR ANY OTHER BROKER. The fix is to close the platform and reopen it. I suspect some of the other vids are of similar ilk.

90% of traders lose because they just don't know what they are doing, think they know it all, and can't be @rsed to research a bit.

Peter
 

Soloquan

Established member
646 24
I watched 1 video. I'm not going to defend Alpari since I don't use them but I will say it's easy to blame the broker when you don't know what you are doing or how your platform works. In the vid I watched the issue was "Trade Context Busy". This is a bug in MT4 AND HAS NOTHING TO DO WITH ALPARI OR ANY OTHER BROKER. The fix is to close the platform and reopen it. I suspect some of the other vids are of similar ilk.

90% of traders lose because they just don't know what they are doing, think they know it all, and can't be @rsed to research a bit.

Peter

Well I thought this too, but a bit further on in the thread the complainant does say that she/he did close the platform and reopen with no fix. He/She also said that this never happened when 'loosing'.

Hey I'm playing devils advocate here, I don't use Alpari, I have done a few years ago and never really had any cause for concern so I'm not defending either the complainant or Alpari. Just thought it was interesting going from the topic of VDP last week or whenever it was.

Totally agree with you btw on the 90% 'loose' because they don't know what the fu*k they're doing. All too easy to blame the bookies if you ask me. "Why did I 'loose' that trade by 50 pips when my t/p was only 5 pips away, MUST be the SB company stop hunting me for my measly £1 pp stake"
 
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wackypete2

Legendary member
10,229 2,053
Certainy there are brokers who do unscrupulous things and use the VD plug-in. Perhaps in the midst of that the bug also popped up.

BTW, it's easy to get that bug to come up.

I don't have the time at the moment but later on I'l go through the thread and other vids.

Peter
 

BeginnerJoe

Senior member
3,329 350
What I don't understand is why SB and Bucketshops need to do this anyway if 90% are 'loosers'?

Actually they don't need to. The market itself ensures it. Just use charts from two different sources to convince yourself the bucketshop is, on the whole, reasonable. The market is a stop eating machine by nature.
 

The Leopard

Experienced member
1,877 1,020
I think these discussions are largely futile in practical terms (not that there's anything wrong with having them, and it's interesting to see people's experiences).

In the end though, it just comes down to what you're comfortable with. If you think you can use a bucket shop successfully, go ahead. Maybe you can, and the undoubted fact that some have been fined doesn't necessarily mean that they are all spawn of Satan.

For me, I just can't have confidence unless it's DMA. I want to know that my broker can only profit from my trading, and not from my losses (looses).

But it comes down to each individual, and everyone has to make up their own mind.
 

Soloquan

Established member
646 24
Absolutely agree with both of you Leopard and BJ. I do use a bucket shop (IG) and use charts from another SB just to satisfy in my mind that there is no foul play. You see a spike on one, and low and behold there is the same spike on the other. Now like Pete earlier I'm not denying that there are unscrupulous goings on with SB companies but it is by no means as prevelant as many suggest.

And Leopard, if I had the funds I'd be on DMA tomorrow. The 'beauty' of SB and bucket shops is that it opens up the market to those of us who can't use DMA. It's not the ideal situation but for those that have this 'edge' there is a limited opportunity to make a bit of cash in the short term and that's all that matters to me right now :)
 

ChocolateDigestive

Experienced member
1,153 281
Absolutely agree with both of you Leopard and BJ. I do use a bucket shop (IG) and use charts from another SB just to satisfy in my mind that there is no foul play. You see a spike on one, and low and behold there is the same spike on the other. Now like Pete earlier I'm not denying that there are unscrupulous goings on with SB companies but it is by no means as prevelant as many suggest.

And Leopard, if I had the funds I'd be on DMA tomorrow. The 'beauty' of SB and bucket shops is that it opens up the market to those of us who can't use DMA. It's not the ideal situation but for those that have this 'edge' there is a limited opportunity to make a bit of cash in the short term and that's all that matters to me right now :)

Hey Sol

What instrument(s) are you trading?
 

ChocolateDigestive

Experienced member
1,153 281
Indices. Ftse & Dow on an intraday basis, very occasionally Dax and Cac (but only in a very strong trending market.)I stay away from FX these days not my cuppa tea ;)

ok. well reference to your comment re-not having enough money to trade futures. You can trade the YM (mini DOW) through AMP futures using a free platform like ninja. There is no minimum account size, the intraday margin on the YM is $500. So you wouldnt need much cash to get you started.
 
 
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