GFT Forex sent this out today..lol. Looks like they are jumping on the bandwagon and sticking it to their customers. Thank goodness I have started the process to leave them.
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Dear Valued GFT Customer,
These have been unprecedented times for the financial industry. The recent bailout of Fannie Mae and Freddie Mac, the bankruptcy of Lehman Brothers, the forced sale of Merrill Lynch and the bridge loan to AIG have placed significant stress on all markets.
As a result of the uncertainty arising from these situations, we have seen demand for the U.S. dollar increase significantly. This has been reflected in the rollover rates that are applied to your spot forex positions with GFT.
For example, a long EUR/USD position would typically receive rollover but is currently paying rollover. Many USD crosses, such as USD/JPY, are benefitting from this situation by receiving more rollover than is typical.
We believe this is a temporary situation, but one that reflects the reality of the current market environment. Throughout the market turmoil, we have been able to maintain extremely competitive spreads and rollover rates. While the markets may continue to remain volatile, we will take every step toward maintaining the best rates in the industry.
If you have any questions, please do not hesitate to contact us at 800 465 4373 or 1 616 956 9273, [color=#0000ff][email protected][/color] or click here to text chat with one of our representatives online.
Best regards,
GFT
++++++++++++++++++++++++++++++++++++
Dear Valued GFT Customer,
These have been unprecedented times for the financial industry. The recent bailout of Fannie Mae and Freddie Mac, the bankruptcy of Lehman Brothers, the forced sale of Merrill Lynch and the bridge loan to AIG have placed significant stress on all markets.
As a result of the uncertainty arising from these situations, we have seen demand for the U.S. dollar increase significantly. This has been reflected in the rollover rates that are applied to your spot forex positions with GFT.
For example, a long EUR/USD position would typically receive rollover but is currently paying rollover. Many USD crosses, such as USD/JPY, are benefitting from this situation by receiving more rollover than is typical.
We believe this is a temporary situation, but one that reflects the reality of the current market environment. Throughout the market turmoil, we have been able to maintain extremely competitive spreads and rollover rates. While the markets may continue to remain volatile, we will take every step toward maintaining the best rates in the industry.
If you have any questions, please do not hesitate to contact us at 800 465 4373 or 1 616 956 9273, [color=#0000ff][email protected][/color] or click here to text chat with one of our representatives online.
Best regards,
GFT
"I spilled spot remover on my dog. He's gone now." - Steven Wright
