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FxChoice temporarily cuts leverage for USDMXN pair

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 

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