LeapRate Exclusive.. LeapRate has learned that leading UK online broker ETX Capital has put in a proposal to acquire Alpari UK out of administration.
The following statement was received from ETX Capital:
ETX has provided KPMG with a proposal to acquire assets of Alpari (UK) Limited. Over recent months ETX Capital has acquired Shelbourne markets and Ariel Communications and is continuing to expand its business aggressively both through organic means and acquisitions. As a profitable, FCA regulated firm offering multiple trading platforms and over 6,000 markets, ETX Capital considers itself to be one of a small number of firms able to complete this acquisition while at the same time protecting Alpari’s customers from losses.
During the recent turmoil in the FX markets, ETX Capital’s active risk management helped the firm to fair extremely well and January is expected to be another profitable month for the firm.
CEO Andrew Edwards added:
We are keen to help customers whose funds and positions are currently locked in Alpari get back into active operation. Our expertise in such business transfers should ensure that the process is quick and above all fair to customers.
Stay tuned to LeapRate as we continue to bring you exclusive coverage of the situation.