The fate of FXDD’s North American client base has been decided, with FXCM set to take on board FXDD’s entire client base as the company enters its final days on the US market.
FXDD will continue to operate from its European headquarters in Malta, serving an international client base.
Today, FXDD issued the following notice to its entire client base in the United States, introducing brokers and partners explaining the transition of client accounts to FXCM:
This letter is to notify you that FXDirectDealer, LLC (“FXDD”) will no longer be the counterparty to retail customers’ positions and will no longer service such customer accounts. We have made arrangements to transfer the custody and clearing of your account to Forex Capital Markets, LLC (“FXCM”). FXCM is registered as a Futures Commission Merchant (“FCM”) and a Retail Foreign Exchange Dealer (“RFED”) with the Commodity Futures Trading Commission (“CFTC”) and is a member of the National Futures Association (“NFA”).
FXDD has worked closely with FXCM to ensure the seamless transfer of your trading account. As a result, no action will be required on your part for your account to be transferred to FXCM. During the transfer, you will receive an email confirming the transfer of your account that will include your new account number and instructions on how to access FXCM’s various client resources. If your current trading platform is not offered by FXCM, your account will be transferred to the FXCM trading platform deemed most appropriate given your current trading platform and your trading history. If you have any questions or concerns regarding your new FXCM trading platform, please contact FXCM at [email protected]
Open positions in your account(s) will be transferred. The transfer itself will not affect the equity of your account. Please note that pending orders will not be reinstated after the transfer. You must reinstate any pending orders after the transfer. You may continue to trade on your FXDD’s account up to market close on Friday, May 16, 2014. After that date you will need to contact FXCM directly at the address provided below with any questions regarding your account.
You are not required to transfer your account. If you wish to opt out of the transfer of your account, please contact us at [email protected] by 1:00 PM EST on May 16, 2014. If you opt out of the transfer of your account, you have the option to (i) close all positions and receive any remaining funds or (ii) close your positions and transfer your account(s) to a firm of your choice. Should you have any questions about this notice or the transfer, please contact our Support Team by email at [email protected]
Information on Forex Capital Markets, LLC
NFA ID: 0308179
James Munkittrick / Senior Vice President of Sales*
Address: 55 Water Street, 50th Floor, New York, NY 10041
Email: [email protected]
Telephone: (646) 253-1409
*Should you have any questions about the transfer or FXCM, please contact James Munkittrick or a Customer Service Representative at FXCM through the email address or telephone number above.
We thank you for the opportunity to have served you and wish you continued success.
The FXDD Team