Forex Trend clients get offer to double investments in “new” company

Clients of Forex Trend, the notorious FX broker that got deregistered in New Zealand and blacklisted in Russia, can now access an information portal about the new entity to which they are set to be transferred.

The new website sheds light on the procedures for client migration, which, however, turns out to be quite tricky and complex.

Let’s mention some of the peculiar moments about the transfer:

  • Clients can opt for “1+1” transfer. This means they have to deposit a sum equal to the funds they already have with Forex Trend. If they do not agree to effectively double their investment, the funds they had with Forex Trend will remain inactive, that is, they cannot be used.
  • Under the current terms and conditions, clients of Forex Trend will have 30 days to deposit the sum required. Otherwise, their transfer to the new company will be annulled.

Judging from the comments on the new website, former Forex Trend clients are not very enthusiastic about the offer. This is not astonishing given the past of the broker, which left hundreds of traders complain about being unable to withdraw their money.

The launch of the new entity, owned by Concorde Capital, has been rescheduled for October 1, 2015.

To view the information about Forex Trend’s successor, click here.

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