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FxPro hikes margins for European spot indices on UK election day

The General Election on June 08, 2017 could be a game-changing event for the UK, and global brokerage FxPro is the next to announce temporary changes to trading conditions. As the election is expected to cause significant volatility in the financial markets, FxPro hikes the margin requirements for European Spot Indices to 2%.

 

This change will come into effect on Thursday, June 08, 2017, at 10:00a.m. UK Time (GMT+1) and will affect both new and existing positions on both MetaTrader 4 and MetaTrader 5.

 

Additionally, the broker warns its clients that wider spreads are expected and that In case of extreme volatility and illiquidity, it reserves the right to refuse the opening of new positions, enabling ‘Close Only’ functionality. Besides, FxPro reserves the right to allow fixed spreads to float to reflect underlying market conditions and to make additional changes its trading conditions, where it deems necessary. Of course, traders will be informed of any such further amendments via email.

 

Major European forex brokers IG, XM, Plus500, ActivTrades, and Admiral Markets have already announced they are lowering the leverage levels on certain or all financial instruments during the elections period in order to protect their clients from the expected high market volatility.

 

We remind you that  FxPro hiked the margins for select European Spot Indices to 1% ahead of Italian referendum.

 

FxPro is regulated jointly by Cyprus’ Securities and Exchange Commission (CySEC) and UK’s 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 in futures, indices, metals, shares, and CFDs on a selection of trading platforms.

TAGS: FxPro  UK General Election  margin requirements 

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