February 23, 2016
Dear Client,
IBFX, Inc. (IBFX) has recently made a business decision to no longer operate as a forex broker or dealer, and has made arrangements to transfer your current IBFX forex account to OANDA Corporation (OANDA), a Registered Foreign Exchange Dealer (RFED) with the National Futures Association (NFA ID 0325821). As a result, unless you object to the transfer in the manner described below, your account, including all cash and open foreign currency positions, if any, will be transferred to OANDA on March 4, 2016.
IF YOU HAVE NO OBJECTION TO THE TRANSFER OF YOUR ACCOUNT THEN NO ACTION IS REQUIRED. Details on the transfer can be found below.
IF YOU OBJECT TO THIS TRANSFER YOU MUST TAKE ACTION. You must liquidate your positions and notify IBFX by March 1, 2016, by 5:00 p.m. ET, by emailing
Questo indirizzo email è protetto dagli spambots. È necessario abilitare JavaScript per vederlo. with your account number and instructions for withdrawal.
For clients accepting the transfer:
Effective Friday, March 4, 2016, at approximately 9:00 p.m. ET, IBFX will transfer your account, client money balance, customer data and non-transactional history to OANDA. Following such transfer, your account and positions will be reopened with OANDA at the same prices at which they were closed with IBFX, and OANDA will immediately become the counterparty to your positions and service provider to your account(s). Upon transfer, you will be bound by the OANDA Customer Agreement, including OANDA Margin Policies, which supersede and replace the current customer agreement and margin policies you have in place with us. (Please note that margin policies differ at OANDA.) IBFX will be cancelling any pending or contingent orders, including any stop or limit orders, after trading is suspended on March 4, 2016 and they will not be reinstated by OANDA. If you wish to renew these pending or contingent orders, you must reinstate them in your new OANDA account. By continuing trading at OANDA, you are agreeing to be bound by the OANDA Customer Agreement and margin policies.
In order to facilitate the transfer, trading will be suspended in your account at 12:00 p.m. ET on Friday, March 4, 2016, and open positions will be closed at the prevailing market rates shortly thereafter. The transfer itself will not affect the equity of your account. Please note that the following currency pairs are not supported at OANDA, so any open positions in such pairs you have on March 2, 2016 will be liquidated by IBFX at the prevailing market rates by 5:00 p.m. ET and not reopened.
As part of the transfer of your account, the TradeStation desktop platform you currently use will be replaced, at no fee or charge to you, with OANDA’s fxTrade platform. You may be eligible for certain other platform choices and introductory platform feature offers from OANDA, and you will be contacted by OANDA later today or tomorrow with details on these OANDA platform choices and offers.
If you opt out of the transfer, all open orders will be canceled and all open positions will be liquidated via market orders at the prevailing market rates, by 5:00 p.m. ET on March 2, 2016. Once that has been completed, appropriate steps will be taken to close your forex account and all available funds will be returned to you through wire transfer (wire transfer fee will be waived) or as otherwise appropriately directed.
It has been a pleasure serving you as your forex broker and we wish you well with OANDA. If you have any questions about this notice please contact Terry Clarke, Chief Compliance Officer, or our Client Services team at 800.822.0512, or if you are calling from outside of the United States at 954.652.7900. You may also contact IBFX by email at
Questo indirizzo email è protetto dagli spambots. È necessario abilitare JavaScript per vederlo..
Information on OANDA:
National Futures Association (NFA) ID: 0325821
Inth Venekeo/ Client Experience Supervisor
Address: 370 King Street West, 2nd Floor box 60, Toronto, ON, M5V 1J9 Canada
Website:
www.OANDA.com
Email:
Questo indirizzo email è protetto dagli spambots. È necessario abilitare JavaScript per vederlo.
Telephone: +1 416.593.9436/ 1 877.626.3239
Sincerely,
The IBFX Team
