VantageFX to archive inactive accounts
Australia based Retail FX and CFDs broker VantageFX has issued a note to clients indicating that starting from August 30, 2020 it will proceed with compressing and archiving the data of all the inactive trading accounts that have a balance less than 10 units, and are not active for a period of last three months.
If a client’s trading account has a balance less than 10 units and has been inactive, VantageFX highly recommends that the client either transfer the funds to an actively used trading account under their name or fund the inactive trading account to maintain a balance higher than 10 units, in the event the client does not want his/her account to be archived.
VantageFX did note that once a trading account is archived, the client can still rest assured that all the historical data of the account, including any remaining funds (less than 10 units), will remain saved in the company’s databases and client segregated trust accounts safely. However, should the client like to withdraw or transfer the funds at a later stage, they will be able to do so only by submitting a request to the broker’s support team.
VantageFX recently spun off offshore broker Moneta Markets as a separate brand, as was exclusively reported by FNG at the beginning of July.