I posted about this about a month ago as my mother had received an e-mail from FXCM but I hadn't. Nobody seemed to have a clue what I was talking about so I just assumed that my mother had opened the wrong account in the first place. She just sold her shares and closed her account with FXCM.
I received the same e-mail last night so now I presume that they are contacting everybody in stages and that anyone who has DLP shares with them will be contacted eventually.
With this and the new minimum of 100 shares to renew with the shareholders club it is getting less and less worth it every day
Here's a copy of the e-mail I received. They seem to think it's "exciting news". I disagree
Dear Trader,
Exciting news abounds! FXCM Securities Limited (FXCM) is in the process of developing a new state-of-the-art trading platform that we intend to launch for clients affiliated with Sharewatch in the fourth quarter of this year.
HOW DOES THIS AFFECT YOU?
This new platform will have many advanced features, be highly customizable and will provide access to multiple markets and products all on one set of margin and with one login. We plan to start migrating clients onto the new platform in December of this year and, once all of our clients have access to the new platform, we will shut down the existing platform.
The new platform is designed for active traders. Therefore, FXCM is preparing to support its more active client population by instituting a minimum trade requirement of three (3) trades per calendar month, per account, across all exchange trading platforms. Accounts that do not meet the minimum trade requirement in any given month will be charged a £25 inactivity fee for that month. The new trading requirement and fee structure will become effective on 1 November 2012. The first inactivity fee will be charged on 1 December 2012 regarding November's trading activity.
We hope you share our excitement in today's news!
However, we understand that the new platform and trade minimum may not be an ideal fit for every client. You have several options should you prefer not to take advantage of this new offering. You can:
Transfer your account, positions and holdings to a new broker You may do so by completing a Transfer Form and e-mailing it to us at transfers@fxcm.com. Regular transfer fees will apply.
If you would like an alternative provider to consider, Saxo Capital Markets UK Ltd (SCML) is available. FXCM and Sharewatch have spoken with SCML and they welcome the opportunity to support any client affiliated with Sharewatch that would like to transfer their account in light of our new trading minimums.* FXCM will waive the typical fee of £20 per position for transfer requests to SCML, received by FXCM on or before 1 December 2012.
You may open an account with SCML by email or by calling +44 (0) 20 7151 2222. When the account is open, you can request your positions to be transferred by completing the above transfer form and e-mailing it to us at transfers@fxcm.com.
Closing open positions and selling all holdings in your account You may do so through FXCM's current trading platforms or by calling our trading desk at +44 (0)20 7903 6150. All fees and commissions for online or phone dealing can be found on our rate card. After settlement of your trades, you can then withdraw all funds by completing the Withdrawal Form and e-mailing it to us at service@fxcm.com.
Closing all positions and requesting a return of your holdings. All fees and commissions for online or phone dealing, materialisation and/or return of holdings can be found on our rate card.
Should you have any questions, please e-mail us at service@fxcm.com.
Kindest regards,
I received the same e-mail last night so now I presume that they are contacting everybody in stages and that anyone who has DLP shares with them will be contacted eventually.
With this and the new minimum of 100 shares to renew with the shareholders club it is getting less and less worth it every day
Here's a copy of the e-mail I received. They seem to think it's "exciting news". I disagree
Dear Trader,
Exciting news abounds! FXCM Securities Limited (FXCM) is in the process of developing a new state-of-the-art trading platform that we intend to launch for clients affiliated with Sharewatch in the fourth quarter of this year.
HOW DOES THIS AFFECT YOU?
This new platform will have many advanced features, be highly customizable and will provide access to multiple markets and products all on one set of margin and with one login. We plan to start migrating clients onto the new platform in December of this year and, once all of our clients have access to the new platform, we will shut down the existing platform.
The new platform is designed for active traders. Therefore, FXCM is preparing to support its more active client population by instituting a minimum trade requirement of three (3) trades per calendar month, per account, across all exchange trading platforms. Accounts that do not meet the minimum trade requirement in any given month will be charged a £25 inactivity fee for that month. The new trading requirement and fee structure will become effective on 1 November 2012. The first inactivity fee will be charged on 1 December 2012 regarding November's trading activity.
We hope you share our excitement in today's news!
However, we understand that the new platform and trade minimum may not be an ideal fit for every client. You have several options should you prefer not to take advantage of this new offering. You can:
Transfer your account, positions and holdings to a new broker You may do so by completing a Transfer Form and e-mailing it to us at transfers@fxcm.com. Regular transfer fees will apply.
If you would like an alternative provider to consider, Saxo Capital Markets UK Ltd (SCML) is available. FXCM and Sharewatch have spoken with SCML and they welcome the opportunity to support any client affiliated with Sharewatch that would like to transfer their account in light of our new trading minimums.* FXCM will waive the typical fee of £20 per position for transfer requests to SCML, received by FXCM on or before 1 December 2012.
You may open an account with SCML by email or by calling +44 (0) 20 7151 2222. When the account is open, you can request your positions to be transferred by completing the above transfer form and e-mailing it to us at transfers@fxcm.com.
Closing open positions and selling all holdings in your account You may do so through FXCM's current trading platforms or by calling our trading desk at +44 (0)20 7903 6150. All fees and commissions for online or phone dealing can be found on our rate card. After settlement of your trades, you can then withdraw all funds by completing the Withdrawal Form and e-mailing it to us at service@fxcm.com.
Closing all positions and requesting a return of your holdings. All fees and commissions for online or phone dealing, materialisation and/or return of holdings can be found on our rate card.
Should you have any questions, please e-mail us at service@fxcm.com.
Kindest regards,
