Dear Valued Client,
We are writing to inform you that as of Friday, June 26, 2015, Citibank, N.A. (“Citibank“) will no longer offer its CitiFX Pro service and all related accounts will be closed. To facilitate your ability to continue to trade FX, we are pleased to inform you that Citibank has arranged for the transfer of your CitiFX Pro account to Forex Capital Markets, LLC, which is a subsidiary of FXCM Inc. (“FXCM“) (NYSE: FXCM) and one of the largest foreign exchange brokers in the market. Forex Capital Markets, LLC is a registered Futures Commission Merchant (FCM) and Retail Foreign Exchange Dealer (RFED) with the Commodity Futures Trading Commission (CFTC), and is a member of the National Futures Association (NFA). Please see Important Disclosures & Disclaimers below.
FXCM is a leading provider of online forex trading and related services, with over 170,000 active accounts as of March 31, 2015. Further information on FXCM can be found here. Citi makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the information, products, services offered by FXCM.
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Your Account Will Seamlessly Transfer
Provided you do not opt out (as described below), we have established a process for the seamless transfer of your CitiFX Pro open trade positions and cash margin account balance to FXCM. This process will include:
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Citibank providing your account information, including open trade positions and other information (including personally identifiable information) from your CitiFX Pro account application to FXCM;
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Citibank closing any open positions at 2:00 pm EDT on Friday, June 26, 2015 (*except for those currency pairs listed below), so they may be re-established by FXCM on your new FXCM account (as described below); and
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Citi transferring your cash margin to FXCM.
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Your new FXCM account will be available for trading on Sunday, June 28, 2015. The terms and conditions that will govern your open trade positions that are re-established by FXCM within the FXCM trading platform as well as your closing cash margin balance that is transferred to FXCM will be such terms and conditions as FXCM shall determine or as otherwise agreed to between you and FXCM. In addition, use of your personally identifiable information will be governed by FXCM’s privacy policy. For further information on FXCM, please see the URL provided above.
*PLEASE NOTE that FXCM does not support the same currency pairs as Citi. You can see the full list of currency pairs that FXCM supports in the FAQs here. You are advised to close out your open trade positions in unsupported currency pairs, if any, before 09:00 am EDT Monday, June 22, 2015, otherwise they will be closed out by Citi and not re-established by FXCM. Any mark to market gain or loss will be applied or debited from your account prior to the account transfer.
Please also note that any open order you have placed at the time of the transfer that has not been triggered yet will need to be re-established by you within the FXCM trading platform.
