DislikedFrom the Customer Agreement of FXDD Malta:[indent]9. CUSTOMERS’ MONIES
When a Customer deposits money with FXDD this will generally be segregated from FXDD’s
money in accordance with applicable MFSA rules and regulations on protection of Customers’
money, except when such money is held by FXDD in respect of margin requirements. Customer
acknowledges that the holding of money in a segregated Customer account may not provide
complete protection.
All Customer monies will be held in a Clients’ account held with an authorized credit institution or
bank...Ignored
9. CUSTOMERS’ MONIES
When a Customer deposits money with FXDD this will generally be segregated from FXDD’s
money in accordance with applicable MFSA rules and regulations on protection of Customers’
money, except when such money is held by FXDD in respect of margin requirements. Customer
acknowledges that the holding of money in a segregated Customer account may not provide
complete protection.
All Customer monies will be held in a Clients’ account held with an authorized credit institution or
bank situated in Malta or the United States. The Customer’s rights may be affected, or even
prejudiced, depending on the jurisdiction in which such Customers’ monies are held.
Customer acknowledges and agrees that no interest shall accrue in favour of Customer on any
deposit/s and/or any other asset/s that Customer may hold with FXDD.
When a Customer undertakes one or more Contract/s with FXDD at any particular time, any
money held by FXDD will be transferred to FXDD to secure Customer’s actual or potential
obligations towards FXDD as counter-party in respect of such Contract/s, at which stage and for
the duration of any pending Contract/s that the particular Customer may have with FXDD such
money will not be segregated from FXDD’s money and the particular Customer will rank as a
general creditor of FXDD.
The Customer accepts and hereby authorises FXDD to effect withdrawals from the Customer’s
Account with FXDD as may be required in order to settle any charges and/or fees that may
become due by the Customer to FXDD from time to time.
1. What do MFSA rules say regarding customer funds? Did you read the MFSA ruling?
So the question is does these rules give me any kind of guaranty.
2. .... in respect of margin requirements. Are these ONLY the margin requirement for the clients transactions or the margin requirements of the broker ? That not specified in here.
3. Where are the funds ? Malta or US ? In case shit hits the fan, can they switch funds from one account into another, without prior aknowledgement of the client and what does it mean for the clients funds.
4. As soon as one starts trading, ALL your funds are out of segregated funds and therefor are at risk.