2 Important change & notices for traders of iForex.
As of May 28th, 2017, iForex is going to make an important change regarding to “Rollover” (Swap Point/Charge) conditions.
And there are 3 more changes of “Terms and Conditions”.
For more information or inquiries, please contact iForex support team.
No Rollover(Swap) on Forex/Metals spot deals
iForex is going to introduce “Overnight Financing” for Forex Spot deals.
The change was made in order to provide traders with a simpler and more transparent way of understanding the adjustment to the deals traders keep open overnight.
The change applies only to Forex Spot deals, and Index CFDs and Commodity CFD Futures’ rollover contracts remain unchanged. However, instead of being adjusted from the balance, it will be adjusted directly from the Open P/L (Profit/Loss).
Forex & Metal Positions to be Closed
Due to the change of trading conditions, iForex is going to close all open positions on Spot Forex and Metals deals on May 28th, 2017.
All existing open positions will be closed at the last available market price, on 28th, and the same positions will be re-opened at the same time, while keeping any closing limits in place.
Open P/L calculations will be made according to market prices.
Forward deals placement will no longer be available as of May 28th, 2017.
Additional ID may be required
From time to time, iForex may request traders to provide additional and updated Identification documents or other types of documents.
If a trader fails to respond to their request, it may result in the termination of your account following 2 days written notice.
Termination of inactive accounts
In case your trading account is inactive for a period of 12 consecutive months, the account will be considered as inactive and terminated as per “Client Agreement”.
iForex may follow the procedure to refund any available balance.