Alpari US
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Alpari (US) would like to thank the author of the post "Alpari US - finita la commedia?" for the opportunity to share with you our recent initiatives in the United States in complying with the National Futures Association’s (“NFA”) FIFO rule and correct certain misstatements that were presented in the article.
When the NFA issued new rules about offsetting positions and implementing FIFO in the United States, Alpari (US) began working diligently on implementing Compliance Rule 2-43 and the new FIFO rule, which goes into effect on July 31, 2009. MetaQuotes Software Corp. (“MetaQuotes”) issued an official update on its MT4 support site on July 10, 2009, describing an upgrade to MT4 which is fully compliant with new FIFO/hedging rule (News - MetaQuotes Software Corp.). Our systems have since been re-programmed so that they conform with FIFO, including the new stop-loss and limit order requirements. Since July 10, 2009, traders have also been able to download from our website a demo version of MT4 to practice with the FIFO-compliant features that MetaQuotes added to MT4. More importantly, the NFA has been kept fully abreast of our initiatives in this area and has had an opportunity to review them.
As of July 27, 2009, traders will be able to visit our website to access educational information on FIFO and watch an instructional video tutorial on trading using the new NFA-compliant features added to MT4. We have also begun work on a proprietary software program which will add enhanced trading capabilities and functionalities to MT4, yet still remain in compliance with FIFO. We have other initiatives and products in the works as well. We encourage members of the public to check the news on our website periodically to learn about the initiatives and products we plan to launch in the very near future.
Our recent introduction of advanced new trading systems, such as those provided by Currenex (Currenex.com), was intended to provide our clients with the most powerful and totally automated trading tools available in the industry. In no way should our introduction of such systems be construed to suggest that Alpari (US) intends to change its business model here in the US or become an Introducing Broker (“IB”). Since our inception in 2006, Alpari (US) has experienced tremendous growth within the US market. We have built a client base which is larger than the $2-3M purported in the article. Our workforce has more than doubled over the last year alone, and we expect to continue to add staff in response to client demand. Our NFA capital levels as of June 30, 2009 were in excess of the required $20 million. (This information is publicly available on the CFTC’s website – U.S. Commodity Futures Trading Commission.) Unlike other US competitors, which have decided to move customers overseas rather than maintaining compliance with the US regulatory system, we are proud to be an American Forex dealer and want to continue serving our US clients. We do not believe in shipping services and taxes outside of the US.
In sum, Alpari (US) is committed to the US Forex market, and we have taken no initiative short of maintaining our position in the US as one of the top Forex brokers. And, if there are still any doubts about our position in the US market, our recent initiatives, or our compliance with the FIFO rule, we encourage you to open an account with Alpari (US) and try us out for yourself (http:/www.alpari-us.com).
Alpari (US) Team
When the NFA issued new rules about offsetting positions and implementing FIFO in the United States, Alpari (US) began working diligently on implementing Compliance Rule 2-43 and the new FIFO rule, which goes into effect on July 31, 2009. MetaQuotes Software Corp. (“MetaQuotes”) issued an official update on its MT4 support site on July 10, 2009, describing an upgrade to MT4 which is fully compliant with new FIFO/hedging rule (News - MetaQuotes Software Corp.). Our systems have since been re-programmed so that they conform with FIFO, including the new stop-loss and limit order requirements. Since July 10, 2009, traders have also been able to download from our website a demo version of MT4 to practice with the FIFO-compliant features that MetaQuotes added to MT4. More importantly, the NFA has been kept fully abreast of our initiatives in this area and has had an opportunity to review them.
As of July 27, 2009, traders will be able to visit our website to access educational information on FIFO and watch an instructional video tutorial on trading using the new NFA-compliant features added to MT4. We have also begun work on a proprietary software program which will add enhanced trading capabilities and functionalities to MT4, yet still remain in compliance with FIFO. We have other initiatives and products in the works as well. We encourage members of the public to check the news on our website periodically to learn about the initiatives and products we plan to launch in the very near future.
Our recent introduction of advanced new trading systems, such as those provided by Currenex (Currenex.com), was intended to provide our clients with the most powerful and totally automated trading tools available in the industry. In no way should our introduction of such systems be construed to suggest that Alpari (US) intends to change its business model here in the US or become an Introducing Broker (“IB”). Since our inception in 2006, Alpari (US) has experienced tremendous growth within the US market. We have built a client base which is larger than the $2-3M purported in the article. Our workforce has more than doubled over the last year alone, and we expect to continue to add staff in response to client demand. Our NFA capital levels as of June 30, 2009 were in excess of the required $20 million. (This information is publicly available on the CFTC’s website – U.S. Commodity Futures Trading Commission.) Unlike other US competitors, which have decided to move customers overseas rather than maintaining compliance with the US regulatory system, we are proud to be an American Forex dealer and want to continue serving our US clients. We do not believe in shipping services and taxes outside of the US.
In sum, Alpari (US) is committed to the US Forex market, and we have taken no initiative short of maintaining our position in the US as one of the top Forex brokers. And, if there are still any doubts about our position in the US market, our recent initiatives, or our compliance with the FIFO rule, we encourage you to open an account with Alpari (US) and try us out for yourself (http:/www.alpari-us.com).
Alpari (US) Team
