Alpari Group

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following large losses trading the Swiss franc against the euro.[2] In April 2015, the company's US NFA membership was revoked, preventing them from offering their services in the United States.[3]

"Alpari" redirects here. For Gyula Alpari, see Gyula Alpári.
Alpari Group
TypePrivate
IndustryFinancial services
FoundedDecember 1998 (1998-Dec)
FounderAndrey Dashin (Chairman)
HeadquartersKingstown, Saint Vincent and the Grenadines[1]
ServicesFinancial Brokerage
Websitewww.alpari.org

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.[5]

Andrey Valerievich Dashin owns both Alpari and another foreign exchange broker FXTM, also known as ForexTime.[6]

History

The company was established in Kazan, Russia, in 1998.[7] In 2000, Alpari began expanding internationally.

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.[8][9] Alpari (UK) entered Indian market in 2008 and left India in March 2014.[10] 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.[11][12] 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.[13]

Russia

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]

United States

Alpari US LLC was established in 2006.[18] It had its NFA membership approved in November 2007 and removed in April 2015.[3]

The Alpari Charitable Fund

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.[19]

In 2018, the Alpari Charitable Fund provided a total of 29.4 million rubles in of support to residents of Tatarstan.[20] In the first half of 2019, a total of 24.9 million rubles was provided in support to beneficiaries in Tatarstan.[21]

References
  1. Golovtchenko, Victor (2018-11-21). "Exclusive: Alpari Closes Down Belize Subsidairy". Retrieved 2020-09-12.
  2. "News for customers of Alpari (UK) Limited". Financial Conduct Authority. January 20, 2015. Retrieved March 6, 2017.
  3. "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 2020-09-12.
  5. "Alpari Research & Analysis Ltd". Bloomberg. Retrieved 2020-09-12.
  6. Plotnikova, Irina (2017-10-16). "Dollar millionaire Andrey Dashin files a lawsuit against Google and Yandex". Retrieved 2020-09-12.
  7. "Alpari Forex Broker". Retrieved 2020-09-12.
  8. "Alpari Financial Services Success Story". Cyprus.com. Archived from the original on 23 April 2015. Retrieved 13 April 2015.
  9. "CySEC Announcement". CySEC. 8 May 2013. Retrieved 13 April 2015.
  10. Mishra, Lalatendu (28 March 2014). "Alpari India shuts shop". TheHindu.com. Retrieved 13 April 2015.
  11. "Swiss franc shock forces West Ham shirt sponsor Alpari out of business". The Telegraph. 16 January 2015. Retrieved 13 April 2015.
  12. "Alpari UK currency broker folds over Swiss franc turmoil". BBC News. 16 January 2015. Retrieved 13 April 2015.
  13. "Notice of special administrators' appointment". 19 January 2015. Retrieved 13 April 2015.
  14. "Список организаций, имеющих лицензию профессионального участника рынка ценных бумаг на осуществление брокерской деятельности". CBR.ru (in Russian). 17 January 2014. Retrieved 13 April 2015.
  15. "Members of NAFD". NAFD.ru. Archived from the original on 2 August 2016. Retrieved 23 March 2016.
  16. ""Alpari Forex" became a member of the Association of Forex dealers". BrokerSearch.ru. 2017-03-16. Retrieved 2020-09-12.
  17. "Russian Central Bank Ends FX Competition". 2017-12-27. Retrieved 2020-09-12.
  18. "Company Overview of Alpari (US), LLC". Bloomberg. Retrieved 3 July 2017.
  19. "Благотворительный фонд Альпари". The Alpari Charitable Fund. Retrieved 5 September 2019.
  20. "Татарстанцы через благотворительный фонд помогли нуждающимся почти на 30 млн рублей". Татар-инфо. Retrieved 14 May 2019.
  21. "Благотворительный фонд "Альпари" оказал помощь в Татарстане на рекордную для полугодия сумму". Реальное время. Retrieved 31 August 2019.
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