My Private Trade (MPT) is an affiliate of Simray ASA (Simray). When you trade with MPT, your trades are being processed and guaranteed by Simray. Simray is responsible for accepting orders and managing your MPT trading and commission funds.
All trading funds for MPT are maintained by Simray in separate accounts with Union Bank of Norway and Barclays Bank. In addition, Simray maintains reserve capital with these banks in excess of standard requirements for currency brokerage houses.
The larger and more creditworthy an institution is, the better its access to other market participants and the more competitive its pricing. When you trade with MPT, Simray puts your trades into the interbank market directly with the banks with which it has a close cooperative relationship. These banks include Bank of America, Barclays Bank, Deutsche Bank, HSBC, ABN Amro and BNP Paribas amongst others. Simray has a credit line of more than $500 million US dollars, ensuring that all trading on MPT accounts is executed at the prices requested by those trading with MPT.
Your funds with MPT are held and managed by Simray in accordance with best practices. If MPT or Simray were to be deemed illiquid for any reason, which is extremely unlikely, your funds would be protected and would remain accessible to you.
Simray ASA was formed as Simray Holdings LLC in 2005 by a group of European currency trading veterans. The company was re-incorporated in 2008 as Simray ASA, a Norwegian Common Stock Company. This is the highest level of incorporation in Norway, a country known for its strict regulation of financial companies. Simray's company registration details are:
| Company Name: |
Simray ASA |
| Registered Address: |
Ovre Langgate 71, 3110 Tonsberg, Norway |
| License Number: |
992 659 653 |
| Telephone: |
+47 2255 2100 |