Alpari withdraws NFA membership over a year after exit from US market

One and a half years has passed since Alpari’s exit from the US market, and  whilst the firm has retracted its operations in several areas since, it has just now submitted its application to the National Futures Association to withdraw its membership, therefore signaling intent to remain absent from North America.

According to information which has been entered on the NFA’s website, four entities that are currently registered with the US regulator have become the subject of Alpari’s wish to cancel membership, these being Alpari Academy, the firm’s FX education service which was registered as an introducing broker (IB) with the NFA; Alpari Futures, Alpari FX and Alpari FX Pro.

In September 2013 when Alpari exited the US market, FXCM acquired the firm’s client assets.

Former Alpari US CEO Daniel Skowronski was subsequently moved to London to run Alpari’s global operations which comprised everything outside Russia including its UK division which is in administration following the Swiss National Bank’s removal of the 1.20 peg on the EURCHF pair.

Last year, Mr. Skowronski left Alpari UK for pastures new, leaving behind a legacy of expansion into various new markets, his expertise having been instrumental in taking what had been a domestic firm based in Russia to international locations with a great degree of success.

According to reports from the Commodity Futures Trading Commission (CFTC) reports from July 2013, Alpari US had just $10 million of client deposits, making it the second smallest US retail forex broker by that measure.

For the official announcement from the NFA, click here.

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