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XM restricts leverage to 1:100 ahead of French elections

In light of the forthcoming French Presidential Elections, forex brokerage XM announced it will temporarily hike margins for all trading instruments, in order to protect both their clients and the company from the market turbulence expected.

 

The French Elections, which will take place on the 23rd of April 2017, are likely to cause extreme market volatility, abnormal spreads and price gaps in many currencies, commodity and stock markets worldwide. That is why, from 17:00 p.m. server time (GMT+3) on Friday, 21st of April 2017, XM will restrict maximum leverage levels, as follows:

 

-1:100 for all currency pairs, Gold and Silver and

-1:25 for all CFDs on Equity Indices, Commodities.

 

Currently, the broker offers leverage ratios up to 1:888. According to the notice sent to XM’s clients, trading conditions will revert to normal by Monday 24th of April 2017, after the results of the French presidential elections are announced.

 

Furthermore, the broker warns clients who intend to keep open positions during the French Presidential Elections to ensure that their accounts are sufficiently funded to avoid possible margin calls and/or stop-outs.

 

The main concern with regard to the upcoming French Presidential Elections is that if the Nationalist Candidate Marine Le Pen wins, this is likely to shake financial markets and cause a EUR/USD drop similar to the Cable collapse during the Brexit vote. Le Pen has promised to hold a referendum to take France out of the Eurozone and return to the French franc.

 

That is why a number of brokers have already announced similar temporary changes in their trading conditions, including ActivTrades, Admiral Markets, Trading 212, MtradIng, ForexClub, and others.

TAGS: XM  leverage 

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