Digit Broker forcibly converted currency into rubles for clients with an account balance of less than €100
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The investment company “Tsifra Broker” converted into rubles the currency of those clients whose accounts at the beginning of July 31 had less than €100. The balances on customer accounts in currencies and precious metals that are not traded on the Moscow Exchange were also converted into rubles. Broker approved corresponding decision on 13 July. The press service of the company confirmed the conversion RBC Investments.
The press service clarified that the conversion of balances in currencies and precious metals that are not traded on the Moscow Exchange is carried out at the broker’s rate with deduction of his commission for a transaction on the foreign exchange market at the current rate.
The Company also indicated that under the new Brokerage Account and Individual Investment Account (IIA) Customer Service Agreement, which came into effect on July 28, it has the sole discretion to maintain a list of securities that can be closed out. At the same time, it is emphasized that such assets must be stored in Tsifra Bank (formerly Freedom Finance Europe), and their value must be below $100.
From July 3 “Digital Broker” introduced restrictions on the withdrawal of customer funds in euros to accounts in Russian banks, as well as in credit institutions in several countries. The only exception was Raiffeisenbank – withdrawing money in euros to accounts in this financial institution is still available to the company’s clients.
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