DMM FX Australia expands client support hours to ease business closure process

DMM FX Australia expands client support hours to ease business closure process

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Australia-regulated forex broker DMM FX Australia, part of Japanese conglomerate Group, said on Thursday it is extending its client support working hours in order to support clients in regards to the upcoming closure of the broker’s operations.

In May this year, the broker announced it is ceasing operations as of 1 August, 2016, without explaining its decision. Due to this, as of 30 July, DMM FX Australia’s client support division will be available 9-12 am AEST/AEDT on workdays.

As previously announced, clients of the broker have to close all existing positions by 0300 AEST on 30 July, or they will be automatically closed, and withdraw their funds by 19 August, after which all client client account will be closed and client agreement terminated.

Sydney-based DMM FX Australia, trading as DMM FX, obtained a license by the Australian Securities and Investments Commission (ASIC) in July 2013 and launched operations later that year. In addition to forex, it provides online trading  in contracts for difference (CFDs), commodities, and indices. It used to offer binary options, as well, but removed them from its product portfolio in November 2015. It said at the time if would focus on forex instruments, instead.

Digital Media Mart, or DMM Group, consists of companies with licenses by the ASIC and Japan’s Financial Services Agency (FSA). Besides online financial services, the DMM group also offers, through its subsidiaries, web marketing, online video streaming, online shopping, online gaming, English study programs, robot manufacturing, solar panels and 3D printing.

Source: DMM FX Australia

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