Alpari can take what is left in your account and give it away. Your balance has to be under 10 EUR/USD, with no trading for 30 days. Clause 21.4 then lets Alpari deduct the remainder and close the account.
Why this matters
Money you left behind is not waiting for you. A small balance you meant to come back to can be gone. Clause 21.4 leaves that decision to Alpari alone.
Exhibit 1Every flagged clause gets its own number so you can point at this one. The number does not change, so a link to it keeps working.CriticalHow much this clause can cost you, in our reading. Critical can take your money or your profit. Warning can delay or limit it. Notice is simply worth knowing before you sign.Rarely seenHow ordinary this wording looks next to the contracts we read. This is our reading of the clause, not a count of other brokers.30 daysThe figure this clause puts a number on, taken from the broker's own words.
You agree that if your remaining Trading Account Balance is less than 10 EUR/USD or the equivalent thereto in any other relevant currency, and if your Trading Account is inactive for more than thirty (30) calendar days, then we will have the right to deduct the remaining Trading Account Balance and apply it for charity purposes in our absolute discretion. We will then close your Trading Account(s).
What it costsThe same clause worked out on a round number, so you can see it in money or in days. It is an example, not a quotation.A dormant account holding 9 USD sits inside clause 21.4. Alpari can take the 9 USD, apply it to charity and close the account.
Firms licensed by the FCA and CySEC must keep client money available to return, and must try to trace a client before treating a balance as unclaimed. This contract lets Alpari deduct a small remaining balance and apply it to charity at its own discretion.
Alpari is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.
Our readingOur own comment on the clause, not the broker's words. Anything we quote is marked as a quotation.Charging a dormant account is common. Transferring the client's remaining money to a charity of the firm's own choosing is not. The clause gives away someone else's balance and needs no notice to the person it belonged to.
What happens, and whenThe Trigger column is what has to happen first. Once that point is reached, the broker may do what the next column says. Every rung names the clause it came from, so you can check it.
| Trigger | What the broker may then do | Clause |
|---|---|---|
| 12 months with no deposit and no trade | Alpari can start charging an annual Inactive Account Fee if your balance is positive. | 21.2 |
| Balance under 10 EUR/USD and 30 days inactive | Alpari can deduct the remaining balance, apply it to charity and close your accounts. | 21.4 |
| Balance reaches zero | Alpari closes your accounts and wallets, disables your profile and ends the agreement with no prior notice. | 21.2 |
- Worse together with Exhibit 2Read these two clauses together. Each one costs more because the other exists.The monthly fee grinds the balance below the 10 EUR/USD line, which is the exact point where clause 21.4 lets Alpari take the rest.