FXCM Update: US clients transferred to Gain Capital (Forex.com) on February 24, 2017

, , Leave a comment

forex-newsFXCM USA Update

Just an update to all USA users of FXCM.

At approximately 3PM EST on February 24th, all trading will be suspended in that new orders can’t be placed, pending orders will be cancelled and positons on TRY/JPY will be liquidated.

Then, on Friday February 24th at 5pm EST time, all existing trading account in the USA will be transferred to new accounts with Forex.com under Gain Capital. Any open positions will be closed and re-established with Forex.com, except for positions with TRY/JPY. Any pending orders will also need to be re-established with Forex.com.

No action is required from the FXCM client and all transfers will take place automatically as scheduled.

FOREX.com will send a separate communication to all transferred clients to aid in the transition and will include access information for the newly transferred accounts.

Gain Capital and Forex.com

FXCM has worked very closely with Gain Capital and Forex.com to ensure that the transfer works seamlessly. Forex.com is registered with the CFTC (Commodity Futures Trading Commission) as a retail Foreign Exchange Dealer and also is enrolled with the NFA (National Futures Association.

FXCM – Overseas Accounts

The good news is if you use FXCM UK or any other overseas FXCM entity, there is no change to your account and you can continue to enjoy trading with FXCM with no service interruption.

As taken from the FXCM Official Press Release: “Even without its U.S. customers, FXCM remains one of the largest global retail foreign exchange brokers, and FXCM anticipates that the increased focus on serving its international global customer base will drive growth and continued profitability improvement.”

 

Leave a Reply

(*) Required, Your email will not be published