Alpari is closing all Gold-denominated accounts
Saint Vincent and the Grenadines incorporated retail FX broker Alpari has sent out a letter to clients (see full text below), indicating that it is discontinuing GLD-denominated accounts, as of June 15.
The company said that there is now low demand for such accounts.
In connection with low demand for accounts denominated in GLD, Alpari has taken the decision to discontinue this account type starting from the 15th of June, 2010. As of the 1st of June, opening an account denominated in GLD will no longer be possible. Additionally, on the specified date, funds denominated in GLD will no longer be accepted on PAMM accounts.
Over the course of the next 2 weeks (through the 12th of June, 2020), clients will be able to close all open trades on their existing accounts, including on PAMM accounts (according to current market rates), and convert their GLD funds into other currencies (at Alpari’s current internal exchange rate).
On the 12th of June, all open positions on GLD accounts, including on PAMM accounts, will be forcefully closed at the day’s closing prices.
All funds on accounts denominated in GLD will be converted to USD at the company’s internal exchange rate at the end of the day on the 12th of June, 2020, and these funds will be credited to the client’s transitory account.
All investor funds on PAMM accounts will be transferred to their respective transitory accounts denominated in USD at the final open rollover on the 12th of June, 2020.
If you have any questions, please don’t hesitate to contact our customer support team. You can reach us on: Telegram, Facebook Messenger, Skype (calls only), via our Live Chat service, by email at email@example.com, or by phone on +44 8449 869559.