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On January 16, 2015, Alpari has entered insolvency following heavy losses the previous day when the Swiss National Bank removed the franc’s ceiling against the euro, On January 19, Alpari UK Ltd. applied for formal insolvency and the English High Court appointed a special administrators from KPMG under Special Administration Regime.
Alpari UK was founded in 2004. It was regulated by the Financial Conduct Authority in September 2006. The company opened and closed several branches in other countries. Cyprus office opened in 2010 and the CySEC license was acquired that year and renounced in December 2012. That office closed in February 2013. Alpari (UK) entered Indian market in 2008 and left India in March 2014. For UK residents, the company also offered financial spread betting on Forex and indices.