IronFX and Pepperstone Enter Race to Take Over Alpari UK's Business

According to media reports by Reuters and the Financial Times, IronFX is yet another contender for the remaining business of Alpari UK. The Cyprus headquartered company has expressed its interest in a statement, revealing that it will be submitting a bid for the UK branch of Alpari in the aftermath of the Swiss franc debacle.

This happens in conjunction with other reports in recent days that Australian Pepperstone is also interested in acquiring the business of Alpari UK.

It was also previously revealed by Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates that FXCM was looking into buying Alpari UK, or parts of it, even before the firm was placed in special administration.

All these reports, and similar PR announcement circulating online, might be true, but they are also a great way for international brokers to get media exposure in the UK as the demise of the local Alpari branch, a sponsor of West Ham United FC, is making headlines in the press.

KPMG, now in charge of Alpari UK's special administration, said they will make an effort to save the firm as a solid unit to protect the jobs of the British staff. Buyers, however, might want to take over just a part of the business, like its offices in Dubai, China or Japan, or even just the client book.