Sydney – Following our report on Australian based brokerage firm IC Markets Australian Brokerage Giant IC Markets To Close Shop For Non- Australian Clients which sent a shockwave of panic to its members, the company has issued a statement clarifying the issue.
In an email sent to it clients IC Markets apologized for miscommunication and confusion from their end before reassuring their clients that nothing will change as far as their trading account is concerned.
Read the full message
Following the email sent to you on Friday, 21 June 2019 “Important Update Regarding your Trading Account”, in which we have informed you that, on 30 June 2019, we will migrate your trading account(s) to IC Markets (SC), regulated by the Financial Services Authority (FSA) of Seychelles (Securities Dealer Licence No: SD018), unless you inform us otherwise.
However, following the valuable feedback of all our clients, we are pleased to inform you that we have made the decision to maintain your trading account(s) with International Capital Markets Pty Ltd (IC Markets AU).
Accordingly, nothing changes for you: You will be able to continue with your current trading account(s) with IC Markets (AU).
There will be no impact on your trading account/activity at all.
Your funds will remain in the same segregated trust account with AA rated Australian banks.
You will maintain your current open positions and account history.
Services provided to you by IC Markets (AU) will continue to be governed by the Australian financial services laws.
Finally, you will keep trading in the exact same market-leading trading conditions as usual.
Nonetheless, should you wish for your account to be migrated to IC Markets (SC) in the future, you will be able to do so with a seamless transition process, which provides you with more choices and flexibility. Alternatively, you may open a new account with IC Markets (EU) Ltd, which is authorised and regulated by Cyprus Securities and Exchange Commission (CYSEC) under the CIF Licence No 362/18.
All entities related to IC Markets: IC Markets (AU), IC Markets (SC) and IC Markets (EU) keep Clients’ funds in segregated accounts with trusted top financial institutions accordingly to the regulations that apply to the relevant Authorities.
We apologise for any inconvenience or confusion the previous email may have caused and thank you for your patience and understanding.
For further enquiries, please do not hesitate to contact us at [email protected]