Mauritius-registered forex broker Alpari International, part of brokerage group Alpari, has decided to close all nano.mt4 accounts as of December, 2015, the broker said on Friday. The move is part of the broker’s strategy for optimization of its product line.
Alpari International will automatically close all positions open by its clients with the nano.mt4 accounts at the last trading session at 2359 EET on 4 December, 2015. Pending orders will be deleted, the broker noted.
As of 1 December, 2015, the broker will no longer allow customers to open nano.mt4 and demo.nano.mt4 accounts. All funds that have remained on these trading accounts will be transferred to transitory accounts on 7 December, 2015.
Traders can still open other accounts with Alpari International, including fix.mt4 and pro.mt4. These accounts are similar to the Nano account, but they differ from it in their operating in full EUR and USD, whereas the Nano account, which is a cent trading account, operates entirely in cents.
All financial parameters of investors’ cent account balance, including deposits, profits and losses, are measured in cents. Otherwise, these accounts are handled the same way a standard trading account would be. Cent accounts are good for beginner investors as they allow transactions with small amounts of money.
Alpari International’s clients can trade 25 different currency pairs on the popular MetaTrader 4 (MT4) forex trading platform. Earlier this month, the broker also added a binary options trading service to its portfolio.
Alpari Intrenational is part of forex brokerage group Alpari, which has offices in Russia, Saint Vincent and the Grenadines, Mauritius, and the UAE. Alpari Group companies are registered and regulated in Belize, and Saint Vincent and the Grenadines. In January 2015, Alpari UK enters into insolvency after it saw exceptional volatility and extreme lack of liquidity as a result of the EUR/CHF collapse.
RoboForex, a Cyprus-based forex broker, also stopped offering cent accounts recently. As of 3 November, 2015, trader users of RoboForex’s social trading platform CopyFX, which is available to both investors and traders, can no longer use cent accounts for forex trading.
Source: alpari.org
