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XM hikes margins ahead of German, New Zealand general elections

Sep 19 2017
By
Jonathan Smith

Leading EU forex broker XM announced it is taking precautions against extreme market volatility, thin market liquidity and abnormal spreads and price gaps around the upcoming general elections in Germany (on September 23) and New Zealand (on September 24).

 

In order to better protect its clients, the broker will temporarily increase the margins on all positions (opening and maintaining the existing positions) on instruments containing EUR, NZD, gold and silver.

 

Starting from 20:00 p.m. server time (GMT+3) on Friday, 22nd of September 2017, the margin requirement on those instruments will rise to 1% (leverage 1:100). The measure will be in effect until Monday 25th September 2017.

 

XM is the second major forex broker to increase margins over the German general elections, after last week Forex.com announced similar measures.

 

XM is a brand of Trading Point Holdings Ltd., a company regulated by the Cyprus Securities and Exchange Commission (CySEC). Apart from its units in Cyprus and UK, it also has a subsidiary in the UK, licensed by the Financial Conduct Authority (FCA), an Australian unit, which holds a license from the Australian Securities and Investments Commission (ASIC). Furthermore, the XM group is registered with the relevant authorities in several other European countries, including the Germany, Spain, Italy, Finland, and France. It has also applied for a license from the Financial Services Board (FSB) of South Africa.

 

 

TAGS: xm  germany  elections  margin 

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