Example of a bankrupt broker that pays client funds

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syuhada
28 Sep 2016, 09:16 1,833 Views
Is there an example of a broker going bankrupt and client funds being paid out?
Let's take the example of alpari UK in 2015, are there any clients in Indonesia whose funds were returned?

1 Answer

M
martin 30 Sep 2016, 03:48

@ Syuhada:
For brokers regulated by a credible regulatory body, an example is Excel Markets New Zealand (regulated by the New Zealand FMA) which declared bankruptcy due to SNBomb on January 15, 2015, and all remaining client funds could be withdrawn.

Regarding Alpari UK (regulated by the UK FCA), the FCA announced it would return all remaining client funds, including those from Indonesia, a few days after the bankruptcy announcement due to SNBomb. However, I did not follow further developments because I did not trade with that broker.

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