Alpari Japan K.K., the Japanese subsidiary of Alpari UK, which is now under special administration, announced today the pending halt of its offering of Metatrader 4 (MT4) and Alpari Direct.
The broker will stop supporting trading on the platforms from March 13, 2015. All clients are now instructed to get their trade reports and different statements before the services are officially closed.
The announcement is hardly surprising, given the events at the company after January 15, 2015.
Alpari JP K.K. has been in trouble since “Black Thursday”, which forced its UK parent to hire special administrators and to start the legal procedure for insolvency. The Japanese FX broker has been gradually returning funds to its clients, with the time obviously arriving for a step-by-step closure of services.
Last week LeapRate updated you on the regulatory situation around Alpari JP. The Financial Services Agency (FSA) of Japan has extended the administrative measures against the broker for one more month, starting from February 16, 2015. The action includes a business improvement order, as well as requirements concerning the preservation of assets and maintaining the balance sheet in a certain way.
The official announcement by Alpari JP on the halt of MT4 and Alpari Direct can be read here.