Alpari discontinues denominated in GLD accounts

Steffy Bogdanova
June 1, 2020 3:09 pm

Retail forex broker Alpari announced its decision to discontinue accounts denominated in GLD, effective 15 June 2020.

Alpari’s decision comes as a result of a low demand for accounts denominated in GLD and as of the 1st of June, opening an account denominated in GLD will no longer be possible. Funds denominated in GLD will also no longer be accepted on PAMM accounts on the specific date.

In the next 2 weeks, the broker’s clients will be able to close all open trades in their accounts, including PAMM accounts and convert GLD in other currencies.

On 12 June 2020, all open positions on GLD accounts will be closed at the day’s closing prices.

The funds on accounts in GLD will be converted in USD at the exchange rate of the company on the that day. The funds will be credited to the client’s transitory account.

The investor funds on PAMM accounts will be transferred to their respective transitory accounts in USD at the final open rollover on the 12th of June 2020.

LeapRate Analyst

Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
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