| Hi
Unfortunately, 2019 has not started very positively
Tallinex, who Expert4x has had close broker relations seem to be encountering difficulties. The nature of these difficulties is not sure but the feedback from Tallinex is shown below my signature.
Effectively Tallinex live and demo accounts have been frozen for this whole week. This means that no transactions can be made or deals closed on these accounts. We are receiving daily account updates but, it also means that because of this break in service we will no longer be using Tallinex as a Broker.
This impacts Expert4x Clients in 3 ways.
1. The Linked account service offered by the Expert4x club
The 2 linked account services, based on live Tallinex accounts, offered by the club can no longer be offered. These services can no longer be continued. An email was sent to all Club members on the second of January notifying them of this and warning them to manually close trades that were open in their own accounts if using brokers other than Tallinex.
Also because of this event the club will be discontinued as this was the clubs main offering. At this stage we will not continue this service with another Broker. We will refund all current members their latest subscription due to this event (which was beyond our control). This will happen in the next 2 days. All current subscriptions will automatically be cancelled and the latest payment refunded.
Again, apologies for this but it was beyond our control.
2. Competitors in the trading competition
We have decided continue the competition in spite of a few of the competitors impacted by this. FXBlue will keep your latest results registered in the competition as long as the account is connected through your FXBlue account. You are free to re-enter the competition as it still has 3 weeks to run.
3. Clients using Tallinex account for their own trading.
Clients will have to deal directly with Tallinex regarding their accounts. If you are looking for alternative brokers we would suggest that you consider Pepperstone and Capital City Markets (US clients).
More information:-
A few years ago Alpari UK unexpectedly closed after the CHF crash. As far as we know Tallinex was impacted by a law suit because they accepted US clients as result of bad legal advice. This negatively impacted their business in many ways and this latest account freeze is probably as result of that. As you know we used them and no scam is suspected at all – businesses fail because of many reasons.
I will update you as soon as I have more information
Kind Regards
Alex du Plooy
Expert4x
Latest communication from Tallinex
"Unfortunately we are experiencing a technical issue.
While we are working extremely hard to resolve the issue, we sincerely apologize for the inconvenience caused, and hope to have it rectified soon.
Once again we thank you for your understanding and patience"
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