Brokers News

FxChoice temporarily cuts leverage for USDMXN pair

Aug 04 2017
By Jonathan Smith

Online forex broker FX Choice posted a notice on its website on Friday to inform clients that it is temporarily changing the trading conditions for FX pair USDMXN. Namely, the broker is reducing the maximum leverage levels applicable to this currency pair to 1:50.

The changes will come into effect from Monday, August 7, and will apply to both new and already opened positions. The broker does not specify when the trading conditions for USDMXN will be brought back to normal, but recommends its clients to adjust the volume of open positions and modify trading strategies, if necessary.

FXChoice states that by this move it aims “to provide the necessary liquidity for the liquidity providers”. We suppose that the broker expects the USDMXN pair to be volatile and has cut the leverage levels to protect its clients. President Donald Trump dragged the Mexican peso to a record low in January. Afterwards the currency gained strength, but according to some industry experts it is going to fall again.

FXChoice offers trading in forex, precious metals, binary options, and contracts for difference (CFDs) on futures on both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. The broker is registered in Belize and licensed by the local International Financial Services Commission (IFSC).

TAGS: Fx Choice leverage Mexican peso

More news about FX Choice

FxChoice adds UnionPay and AstroPay as payment methods Aug 24 2017 07:35:50
FXChoice comes up with a new loyalty programme, Pips+ May 25 2017 07:13:15
FxChoice launches new economic calendar Feb 22 2017 08:57:02
FX Choice launches Refer and Earn forex partnership program Nov 17 2016 13:30:24
FX Choice adds new currency pairs to Pro forex trading accounts Nov 17 2015 16:03:33

Broker	Advantages
	FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
	Forex.com is a large broker listed on the New York Stock Exchange. We like it not only because it’s regulated in the U.S., Japan, Australia, Canada and Hong Kong but also because it offers very good spreads and superior execution.

	XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
	FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
	FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
	FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
	FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
	HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage - one of the highest in the industry.

Broker	Country	Regulation	Platform	Min Deposit	Review
	Cyprus, UK, Mauritius	CySec, FCA, FSC	MT4, MT5, Web	$10	Review Website
	UK	FCA	MT4, Web, ForexTrader, Tradable	$50	Review Website
	Australia, Cyprus	ASIC, CySEC	MT4, MT5, Iress	$100	Review Website
	Cyprus, Australia	CySec, ASIC	MT4, MT5	$5	Review Website
	UK, Australia, South Africa	FCA, ASIC, FSCA	MT4, Trading Station, NinjaTrader	$50	Review Website
	UK, Cyprus, UAE, South Africa	FCA, CySEC, DFSA, FSB	MT4, MT5, FxPro Markets, cTrader	$100	Review Website
	Cyprus	CySEC	MT4, MT5, Web	$1	Review Website
	Belize	IFSC	MT4, MT5	$100	Review Website
	Cyprus, UK, South Africa, UAE	CySec, FCA, FSCA, DFSA	MT4, MT5, Web	$5	Review Website
	UK	FCA	MT5	$5	Review Website
	UK	FCA	MT4, Web, MT4 for Mac	$100	Review Website

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