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I am the executor of an estate that includes a very small amount of money in a stock trading app called FXPRO.

I have access to the account, the application, etc... but I have no idea whatsoever how to extract money from it back to the bank so I can close out the accounts. Can someone help me with that?

Not sure if it helps, but I get a email every day from fxpro with "Daily Confirmation" that says the following:

(edit - I cannot get it to paste in here very well, so ill just try to explain).

Its a spreadsheet showing current open trades and ledger balance. the open trades are small - only 2 of them type is sell, lots is 10 each and the price is 45.00 on one and 43.82 on the other. one is #wellsfargo and the other #papajohns

The lower part of the email shows a ledger balance of $1200 and change, with a floating P&L of -235.08

If I understand things correctly I need to execute those open trades to trade at market price just to get rid of them, and then the balance will be available for me to withdraw... but I cannot figure out how to do that. I have tried to "close" the trades in FXPro, but it always tells me the market is closed. Maybe I just have bad timing? I usually work on this after work which is pretty late at night, and perhaps the market for this is closed?

Can someone please walk me thru what to do to get this account closed out? Or even direct me to a video that will do it without making me learn this whole software that I will never use again?

Thanks much

Dave

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  • FXPRO has a youtube channel that includes videos on how to deposit and withdraw (transfer) funds as well as how to execute trades. If the open trades are sells (shorts), then you will want to buy back the shares before waiting for settlement (3 days) and then withdrawing funds. Alternatively, contact FXPRO support, explain your situation and seek advice.
    – not-nick
    Feb 1, 2020 at 0:08

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I would suggest contacting Customer Support at FXPro as soon as possible, explaining the situation, and asking them about the best way of closing the account. Their Contact Us page gives several ways of getting in touch.

You don't say where you are (the use of dollar amounts might suggest the US, although FXPro seems to be a UK-based company) and regulations as to what an executor can do will vary, but from my experience as an executor a few years ago in the UK, carrying out trades "as though you were the original account holder" may be on shaky ground. You are probably far safer informing FXPro that the account holder has died and getting them to wind up the account. If the account is showing open trades, you probably should do this as soon as possible.

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