EU Securities Markets Authority has recently passed a number of important decisions regarding how investment services related to trading in Forex and CFDs should be provided to retail clients. These decisions are being implemented to safeguard retail clients from excess risks of investing into leveraged instruments.
Please note that the measures required by the new regulations only apply to Retail client accounts, and if you are a Professional account holder, neither of the changes below is going to apply to you.
Being an EU financial institution operating under MiFID, TeleTrade-DJ International Consulting Ltd is taking all measures to comply with the new regulations, and we hereby notify you of the following important changes in our trading conditions that result from the ESMA (EU) 2018/795 decision and that will be introduced as of July 30, 2018:
Our transition to new trading conditions will require that, beginning July 30, 2018, all currently existing retail client accounts would be put to 'close only' mode. You will be able to close your existing positions at your own will, with no deadlines for closing, but you won't be able to open new positions in the currently existing accounts. Once all positions in the existing accounts are closed, such accounts will undergo the change in trading setting to update the margin and stop-out levels, and thereafter you will be able to trade again without restrictions under the conditions updated as per above. Alternatively, you will be able to open new retail accounts and transfer available balances there to be able to trade immediately, without waiting until the existing positions are closed.
Please note that for any of your existing positions (i.e. those open before July 30, 2018), margin requirements will not change and all your positions will remain as they have been opened, until such positions are closed at your discretion and convenience.
Users of our TeleTrade Invest service should be particularly aware of the important implications of the above changes, namely:
We would like to note that the above changes and product restrictions are legally required to be implemented for Retail clients, but will not be in effect for clients categorized as Professional. We kindly ask you to refer to https://my.teletrade.eu/#professional_status in your Client Login to check the status of your categorization, and apply to us for any corrections or updates that you feel are warranted.
If you have any questions with respect to the above, please contact us at email@example.com or via your regional client relationship representative.
TeleTrade-DJ International Consulting Ltd
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This website is operated by Top Markets Solutions Ltd which is registered with the Department of Registrar of Companies and Intellectual Property of the Companies of the Republic of Cyprus as a private limited company with registration number HE272810 and is authorized by the Cyprus Securities and Exchange Commission ("CySEC") to act as a licensed Cyprus Investment Firm ("CIF") with license number 158/11. Top Markets Solutions Ltd operates in accordance with Markets in Financial Instruments Directive (MiFID).
In accordance with CySEC Circular C108, please be informed that the previous name of Top Markets Solutions Ltd was TeleTrade-DJ International Consulting Ltd.
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The Company currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime. The Company does not provide its services to residents or nationals of the USA.
Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63.37% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade Europe strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.