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IG and ActivTrades hike margins ahead of Italian referendum

Nov 25 2016
By
Forexbrokerz.com

In order to protect their clients from the expected volatility in relation to the forthcoming referendum in Italy, UK-based brokerages IG and ActivTrades announced they are temporarily increasing margin requirements on select instruments.


IG’s new margins will come into effect from 3pm (UK time) on 2 December, 2016, and will affect working orders, options, and positions opened via MetaTrader 4 for the following instruments:
 

 

The broker urges traders to monitor their positions carefully and ensure they have sufficient funds in their accounts to meet margin requirements and prevent early closure.

Please note that positions opened with guaranteed stops will not be affected by the margin change.

As the outcome of the vote in Italy has the potential to cause high volatility and turbulence on the financial markets, another London-based broker, ActiveTrades, also announced temporary change to its trading conditions. The broker said it hikes fourfold margins for CFDs on ITA40 and all Italian shares as of December 2, 4pm CET.


ActiveTrades notes that if traders keep margin levels at more than 400% by 4 pm CET on December 4, they would have the required margin levels upon market open on December 5 (Monday) and would minimize the risk of automatic stop out on their open positions.

After the UK’s Brexit vote and the election of Trump in the US, it looks like the next vote that could shook Europe is the referendum in Italy next week, on 4 December, 2016. It will decide whether Italy’s constitution would be amended and, depending on the outcome, might mean the resignation of the Prime Minister, Matteo Renzi. Amendments proposed seek to lessen the size and powers of the Senate in an attempt to streamline legislation. 

 

TAGS: ig  activtrades  margins  italy 

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