LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
The passing of Alpari UK into insolvency has led to various opportunities for other retail FX companies, some of which may be interested in purchasing the firm from its administrators, whilst others court the valuable client base.
A recent example of the latter manifests itself in a campaign by retail FX company XTB, whose website now includes a promotion using large and prominent lettering, clearly offering an “exclusive offer for Alpari clients.”
Eager to capitalize on this situation, XTB is offering terms which include a 10% bonus and no minimum deposit amount in order to attract Alpari UK’s client base to its fold. XTB also appears to still be offering 200x leverage to traders.
A screenshot from the XTB offer looks like this:
Subsequent to the insolvency of Alpari UK, the company’s Russian headquarters began offering zero minimum deposit on all accounts, thus giving rise to a notion that competition in this sector was very high before the events which unfolded on Thursday January 15, and has increased further since in that Alpari’s Russian operations is as keen to retain existing clients and attract those from overseas, just as other companies are looking to increase order flow by bringing on board as many clients of the fallen UK division as possible.