I received the following news in an email today:
"Earlier this year new rules came into force in New Zealand regarding brokers that offer short-term derivative products. Unfortunately, these rule changes mean that from 1 December 2017 Pepperstone, as an Australian regulated entity, can no longer take on or retain any trades for clients who reside in New Zealand"
"You will still have full access to trade up until the close of business Wednesday the 8th of November 2017, when your account(s) will be moved to 'Close Only' mode. Close Only means you cannot open any new positions, only close existing positions.
You will be able to manage any existing positions until the close of business Wednesday the 30th of November 2017, when any remaining open trades will be closed and your Pepperstone trading account will no longer be available for use."
A bit of a shame to only get 2 weeks notice, but the chap I spoke to on the phone was very good about it, and I have no problems with Pepperstone. I'm sure other Kiwi's will be in the same boat as I......what are you plans for a replacement broker? I'm researching as we speak, and I'll post here if I find something good. Hope you will too
Cheers,
RJ
"Earlier this year new rules came into force in New Zealand regarding brokers that offer short-term derivative products. Unfortunately, these rule changes mean that from 1 December 2017 Pepperstone, as an Australian regulated entity, can no longer take on or retain any trades for clients who reside in New Zealand"
"You will still have full access to trade up until the close of business Wednesday the 8th of November 2017, when your account(s) will be moved to 'Close Only' mode. Close Only means you cannot open any new positions, only close existing positions.
You will be able to manage any existing positions until the close of business Wednesday the 30th of November 2017, when any remaining open trades will be closed and your Pepperstone trading account will no longer be available for use."
A bit of a shame to only get 2 weeks notice, but the chap I spoke to on the phone was very good about it, and I have no problems with Pepperstone. I'm sure other Kiwi's will be in the same boat as I......what are you plans for a replacement broker? I'm researching as we speak, and I'll post here if I find something good. Hope you will too
Cheers,
RJ
Doing what you like is Freedom. Liking what you do is Happiness.