Updates on Liquidation of Broker HALIFAX: Existing Huge Funding Gap!

Recently, based on the liquidation announcement pertaining to HALIFAX (a retail forex broker headquartered in Sydney, Australia), its funding gap of compensation for its bankruptcy has been up to USD 34.51 million. It is predicted that a verdict on proceedings for clients funds will be issued in several months.

Can investors successfully get their money back？

Given the shortage of clients funds, the situation may occur where investors cannot receive their total trust assets whereas they all are possible to get the majority of their funds.

Distribution of the amount received by investors is based on the issues under the ongoing deliberation of the court, including the date of award for compensation and whether the distribution is conducted based on the orders of closing positions.

When can investors receive the compensation？

Progress of the fund distribution depends on various factors, involving court decisions and the date for sales of assets, costing at least six months after the receipt of the courts final decision. This means that liquidators can only commence their adjudication procedure following the final hearing and all relevant directions of the court issued.

WikiFX, a forex broker info search tool, is popular among global senior investors! (bit.ly/wikifxIN)