Forex.com provides more transfer details to FXCM US customers
Trading Station accounts are moved to FOREXTrader, whereas MT4 traders will have to install a new copy of MT4.
Friday – February 24, 2017, will be an important date for former US retail FX clients of FXCM Inc (NASDAQ:FXCM), as all of their existing balances and positions will be automatically transferred to their new FOREX.com account, following a deal between Gain Capital Holdings Inc (NYSE:GCAP) and FXCM sealed about two weeks ago.
FinanceFeeds has already informed you about the basic steps of the transfer. Now, Forex.com has provided more details on the transition, explaining to which Forex.com platform/service FXCM’s accounts are about to be transferred to.
- Trading Station
Trading Station accounts will be transferred to a FOREX.com account on the FOREXTrader platform.
The platform is available for desktop, web and mobile devices, including iPhone, iPad and Android. There are several options to use FOREXTrader on Mac but a 3rd party software may be needed.
- MetaTrader 4
FXCM US clients who use MT4 will be able to trade on MT4 provided by Forex.com. However, before the transfer of the accounts, Forex.com will provide traders with a new version of the MT4 software. They will be required to uninstall the existing copy of the FXCM’s MT4 software and install the new Forex.com version.
As with the FXCM account, traders will be able to trade using Expert Advisors, as well as access mobile applications on iPhone, iPad and Android.
Forex.com’s MT4 platform offers 50 currency pairs, plus spot gold and silver.
- Active Trader
Forex.com’s Active Trader program is aimed at high volume traders, offering them reduced pricing on the standard spread and additional spread discounts on the most popular markets, on top of complimentary trade signals, personalized support, priority service and no account inactivity fees.
A minimum initial deposit of $20,000 is required for Active Trader, with the program currently available only on the FOREXTrader platform and not on MT4.
If a trader currently has an FXCM Active Trader account or if their standard account balance at the time of account transfer is $20,000 or more, Forex.com will transfer their balance and positions into a new FOREX.com Active Trader account.
As FinanceFeeds has previously reported, NinjaTrader has established a designated page with FAQ for US clients. At present, the page explains to traders based in the United States that their FXCM account will be transferred to Gain Capital’s retail trading service, FOREX.com. To continue trading using NinjaTrader following the transfer, US clients have to email [email protected] and request an update to their NinjaTrader license key to access Gain Capital/FOREX.com
NinjaTrader 7 currently integrates with the Gain Capital API, the NinjaTrader team explains.
- During the coming weekend
Forex.com’s staff will be available during the transfer and over the weekend. The customer service will be open from 6am to 8pm on Saturday, February 25th and from 10am on Sunday, February 26th to answer traders’ questions.