Cowboy IBFX AU transfer client accounts to FXCM AU

[fok]

I did receive today following message.

Dear Client,

Cowboy IBFX Australia Pty Ltd. (Cowboy IBFX) recently agreed to transfer your current Cowboy IBFX “Empty4” account to FXCM Australia Ltd. (FXCM). The transfer is scheduled to take place beginning the weekend of September 19, 2014. FXCM holds an Australian Financial Service (“AFS”) license issued by the Australian Securities and Investments Commission (ASFL No. 309763).

If you have no objection to the transfer of your account to FXCM, then no action is required. Effective September 19, 2014 at approximately 5:00 pm ET, Cowboy IBFX will transfer your account, client money balance, open positions, customer data and non-transactional history to FXCM. Following such transfer, your account and positions will be reopened with FXCM, and FXCM will be the counterparty to your positions and service provider to your account(s).Please note that any net open positions you have in your account below 1,000 units will be liquidated via a market order shortly before the transfer. Any net open positions you have in your account in any increment that is not 1,000 unit increments will be partially liquidated so that after such liquidation your position will be in increments of 1,000 units. For example, if your net open position in the EUR/USD was 12,500 before the time of the transfer, Cowboy IBFX will liquidate 500. You will be bound by the FXCM Customer Agreement, which amends and replaces the current customer agreement you have in place with us.

In order to facilitate the transfer of your account, trading will be suspended in your account at 3:00 pm ET on Friday, September 19, 2014. Then the 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 have the right to opt out of the transfer, but because Cowboy IBFX has made a business decision no longer to service individual Empty4 online platform accounts, if you do opt out, then on September 19, 2014 all open positions in your account will be liquidated via market orders and, once that has been completed, appropriate steps will be taken to close your account. If you choose to opt out of the transfer of your account, you must notify us of that decision by 5:00 pm ET, Wednesday, September 17, 2014. Should you choose to opt out or have any questions about this notice please contact our client services team at 1-800-884-912, or if you are calling from outside of Australia at 1-801-930-6800.

Information on FXCM Australia Limited
AFSL Number: 309763
Address: Suite 2, Level 18, 420 George Street, Sydney, NSW 2000
Website: http://www.fxcm.com.au
Email: clientsupport@fxcm.com.au
Australia Toll Free: 0011-800-8000-9977
Rest of World: +1 (646) 432-2957

Sincerely,
The Cowboy IBFX Team

[cozybooks]

Hi Gang,

Cowboy IBFX in the USA is doing the same thing. Does anyone know of a broker taking U.S. clients that offers the equivalent mini accounts (.01 order equals only $100) on an Empty4 platform? I liked being able to try real strategies in real time on the Cowboy IBFX mini account without risking big amounts of money.

Oanda lets you trade small increments, but not on their Empty4 platform, only on their in-house java platform.

Short of that, is anyone considering setting up their own country and accepting new citizens? LOL :hi:

[dentiok]

Yes I did receive a mail too. I had a chat with them, they wont deal with forex anymore.

[hndymann]

Hi Gang,

Cowboy Cowboy IBFX in the USA is doing the same thing. Does anyone know of a broker taking U.S. clients that offers the equivalent mini accounts (.01 order equals only $100) on an Empty4 platform? I liked being able to try real strategies in real time on the Cowboy Cowboy IBFX mini account without risking big amounts of money.

Oanda lets you trade small increments, but not on their Empty4 platform, only on their in-house java platform.

Short of that, is anyone considering setting up their own country and accepting new citizens? LOL :hi:

I think FXCM allows micro accounts

[rosst]

I called FXCM & they won't allow nano lots - wonder what Bob is going to do?

[milanese]

I called FXCM & they won't allow nano lots - wonder what Bob is going to do?

see here http://www.stevehopwoodforex.com/phpBB3 ... 100#p99100

Cheers

Tommaso

[rosst]

I called FXCM & they won't allow nano lots - wonder what Bob is going to do?

see here http://www.stevehopwoodforex.com/phpBB3 ... 100#p99100

Cheers

Tommaso

Thanks! I wasn't getting updates on that thread for some reason...

[SteveHopwood]

Hehe. I see nobody is a 'valued client' any more.