Brokers News

FxPro hikes margins on European spot indices ahead of Italian referendum

Nov 30 2016 11:21:04 GMT
By
Stanimir Zhelev , ForexBrokerz.com Find me on Google+

As the referendum in Italy is approaching, another leading EU broker, FxPro, announced temporary changes in its trading conditions. As the vote may affect the country’s future in the Eurozone and market volatility is expected to increase significantly, the broker will increase margin requirements for select European Spot Indices to 1%.


To be more specific, the new 1% margin requirement will apply to the following instruments:

- Germany 30 (DAX) Spot Index
- Swiss 20 Spot Index
- UK 100 Spot Index
- Euro 50 Spot Index
- Finland 25 (Helsinki 25) Spot Index
- France 40 Spot Index
- Holland 25 Spot Index
- Spain 35 Spot Index
- Sweden 30 (OMXS 30) Spot Index
- Belgium 20 Spot Index
- France 120 Spot Index
- Germany 50 (MDAX) Mid Cap Spot Index
- GerTech 30 (TecDAX) Index
- Nordic 40 (OMX 40) Spot Index
- Norway 25 (OBX 25) Spot Index
- Poland 20 Spot Index
- Portugal 20 Spot Index
- UK Mid 250 Spot Index


The change in margin requirements will come into effect on Friday, December 2, 2016, at 10:00a.m. UK Time (GMT+0) on all FxPro platforms and will affect new positions only.


Obviously, the broker decided that the dynamic forex leverage model (from 1:33 to 1:500) it utilizes is not sufficiently reliable to protect traders from the higher market volatility expected in the days preceding the Italian Constitutional Referendum. It will take place on Sunday, December 4, 2016, and it looks like it’s the next vote to shake Europe after UK’s Brexit vote and the election of Trump in the US.


Previous week other two London-based brokerages, IG Group and AcivTrades, announced they are temporarily increasing margin requirements on select instruments.


FxPro is a leading online brokerage, regulated by Cyprus’ Securities and Exchange Commission (CySEC) and UK’s Financial Conduct Authority (FCA). The broker operates as a Hybrid Agency Model broker, offering Negative Balance Protection and enabling clients to access top-tier liquidity. It offers complete services for all retail forex market segments, as well as trading with futures, indices, metals, shares, and CFDs.

 

TAGS: fxpro  italy  italian referendum  indices 

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