Tuesday, June 9, 2009
Forex Industry first: unlimited FDIC insurance for Forex accounts
"The official CitiFX Pro release states: "In the current economic environment, protecting your deposits is of utmost importance. That's why we now offer FDIC insurance for CitiFX ProSM traders. All client US dollar deposits held by CitiFX Pro are fully insured by the FDIC for the entire amount in the account*. *Citibank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through Dec 31, 2009, all Citibank U.S. non-interest bearing transaction accounts are fully insured by the FDIC for the entire amount in the account. Accordingly, US dollar margin deposits maintained with Citibank NA in connection with CitiFX Pro transactions are fully insured.