ETX Capital Extends a Credit Line to Alpari UK Traders

An official announcement made by ETX Capital states that Alpari UK's clients who have chosen to take up on the offer of the UK brokerage to sign up with the firm will receive a gesture of good faith from their new broker.

After ETX Capital acquired the client base of Alpari UK in March, the clients of the bankrupt broker were offered to have their insured deposits credited into their new accounts with the UK-based broker.

The client accounts of Alpari UK's company who have chosen to transfer their insured deposits to ETX Capital will get credited up to 30% but not above £3,000 or the equivalent funds in another currency credited into their portfolios.

The CEO of ETX Capital, Andrew Edwards, commented on the announcement, “We know that people have been waiting to receive their funds for a while now. However, one thing we are able to do in the meantime is provide our clients with advanced access to some of their funds.”

The firm is aiming to increase the client conversion percentage amongst the clients waiting for their funds. By giving them an opportunity to begin trading despite not having their Alpari UK funds transferred to them yet, the firm could get additional client monies in deposits.