On September 22nd, FXNet has announced that the broker is going to cease providing financial services to Japanese markets due to CySEC’s regulatory directives.
At the same time, FXNet will let another Online Forex broker based in Belize, OloFX to take over its JP operation.
What happens to FXNet’s Japanese clients’ trading accounts?
All Japanese clients’ trading accounts will be disabled for trading at midnight of October 6th in 2016. At the same time, all existing open positions and pending orders will be closed and cancelled automatically.
The transfer of personal information and trading accounts with the funds will be processed from October 7th.
This transfer will be made after the client has agreed to Terms and Conditions sent by OloFX, then the clients will receive login credentials of the new trading account with OloFX and the new bonus will be also credited to the account automatically.
In case you wouldn’t agree with the service change and its conditions, you may contact FXNet official support team then your trading account will be simply disabled and closed without a transfer.
OloFX with the same Forex service as FXNet
According to FXNet’s announcement, current Japanese traders of FXNet will be able to use the same services also with OloFX, as follows:
- OloFX offers the same exact trading conditions as FXNet, and all existing trading accounts of FXNet will be transferred under OloFX’s entity.
- All personal information and funds will be automatically transferred to OloFX.
- Traders can benefit from the same Bonus Promotion as FXNet’s with OloFX.*
*Promotion is “50% Deposit Bonus” up to 5000 USD which expires in 60 days after transferring from FXNet to OloFX.
Also some of the Japanese support staffs of FXNet will be also transferred to OloFX an continue to provide supports to the same JP traders as before.