NO ISSUE - Fxprimus will be deregistered in NZ in 2 weeks

[Alonedevils]

CySEC?

About Us

In this case I agree with Pharaoh.

I just didn't get one thing, is this broker Ausie regulated or Mauritian?

 

[Trader1979]

CySEC only as of Monday the 6th April, 2015

 

[Trader1979]

CySEC only as of Monday the 6th April, 2015

Further to the email sent on Thursday 02 April 2015, regarding the migration of the activities of FX Primus Ltd, to FX Primus Europe (CY) Ltd. we would like to address a few questions that have been raised by our valued customers:

Question: Is the entity domiciled and regulated in Mauritius (FX Primus Ltd.) going to cease accepting new customers?

Answer: Yes, as of the close of business on Monday 06 April 2015, FX Primus Ltd will no longer be accepting any new customers. New customers shall be on-boarded at our new domain Home.

Question: What happens to existing clients not agreeing to move to FX Primus Europe (CY) Ltd.?

Answer: Existing customers that remain with FX Primus Ltd will be provided with the option to either;

(i) Transfer their trading activities from FX Primus Ltd to FX Primus Europe (CY) Ltd. subject to certain terms and conditions, or;

(ii) Close their positions and cease their trading activities with FX Primus Ltd.

The account of any client not agreeing to the terms and conditions in relation to the transfer of their trading activities from FX Primus Ltd to FX Primus Europe (CY) Ltd. shall following a notice period of 90 day of the date of this communique (the "Termination Date."), be automatically closed and any open positions liquidated. The balance on the account after having made good any obligations towards FX Primus Ltd shall be reimbursed to the client and deposited in their respective bank account, as per our records. The clients shall be duly notified accordingly.

Question: Do I have to transfer my account and funds?

Answer: Yes, subject to acceptance of the terms and conditions in relation to the transfer of your trading activities from FX Primus Ltd to FX Primus Europe (CY) Ltd. However, you are not being forced to transfer your account and funds immediately. Your positions will remain open and your funds will remain in segregated accounts in Barclays Mauritius and in the FXPRIMUS Trust account (if applicable) for a maximum period of 90 Days of the date of this Communique.

Question: What do I do if I want to move my account over to FX Primus Europe (CY) Ltd. prior to the Termination Date?

Answer: The process of moving your account, funds, and any open positions over to FX Primus Europe (CY) Ltd. is quick and easy. Simply follow the instructions on our web-site by agreeing to the terms & conditions and FX Primus Europe (CY) Ltd. will handle the rest. FX Primus Europe (CY) Ltd. is an investment firm with registration number HE 337614, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license no. 261/14.

Question: Will my personal information (ID & Proof of Residence) be shared with FX Primus Europe (CY) Ltd.?

Answer: No, except if you agree to continue trading with FX Primus Europe (CY) Ltd. Upon agreeing to the terms and conditions of FX Primus Europe (CY) Ltd, you will authorize FX Primus Ltd. to share your KYC information with FX Primus Europe (CY) Ltd., which will be used in your new account profile.

Question: What will happen to my personal data if I decide not to continue trading with FX Primus Europe (CY) Ltd.

Answer: Your personal data will be kept by FX Primus Ltd (Mauritius) as per the relevant laws and regulations of Mauritius.

Question: When I transfer my account and funds over to FX Primus Europe (CY) Ltd. where will my funds be held?

Answer: Currently funds are being held at Hellenic Bank in Cyprus. However, within the next 90 days FX Primus Europe (CY) Ltd. will be offering additional banking options at other world-renowned banking institutions outside of Cyprus for your convenience. We fully appreciate customers enjoy having flexibility in terms of banking options, and intend on catering to everyone's needs.

We feel these are the most pertinent questions that have come up from our valued customers and trust this addresses some concerns.

If for some reason it does not, and you require additional information don't hesitate to contact us at support@fxprimus.com as we are here to assist, and as always appreciate your valued business.




Warm Regards,
FXPRIMUS Support

 

[MikeH1]

CySEC only as of Monday the 6th April, 2015

License issued in Cyprus on Dec 22, 2014.

 

[MikeH1]

Trading officially commenced April 2015.

 

[Pharaoh]

So the core of the complaint is that some accounts are being moved from the totally useless regulation of Mauritius to the merely inadequate regulation of Cysec? I was unaware that a step up in regulation was considered to somehow be a bad thing. If I had an account with FxPrimus (I don't), I'd me much more worried if they were moving in the other direction.

Also, I see that AsstMod's question continues to be ignored.

 

[veri5]

I also didn't figured out, what is the problem. CySec is better than Mauritius regulator. Only thing, maybe anyone knows, what happens to IB/rebates...

 

[AsstModerator]

I would appreciate it if Trader1979 and MikeH1 would provide account numbers or some other form of identifying information so that the representative from FxPrimus can check to see if there are any issues with their trading accounts.

If there is evidence of an investigation by any regulator, I would like to see that posted.

Providing a trading account number will not compromise a legal case. If there is evidence of a regulatory investigation, providing that will not endanger a legal case.

Ducking questions central to the issue will endanger this thread's continued presence in the Scam Alerts Folder. There are more appropriate folders for threads of that sort.

This is the second time I am asking. I will not ask a 3rd time.

 

[Master Yoda]

What's your problem not showing your account numbers? If this is what's going to help you I would suggest you to answer Asstmod

 

[AsstModerator]

Since no evidence of any real issue has been brought, and since the people complaining won't bother to answer simple questions, I think the best place for this thread is in the Forex Insanity folder.