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.
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.
