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OctaFX hikes margins for US30, NAS100, SPX500 ahead of US elections

Oct 28 2016
By
Forexbrokerz.com

UK forex broker OctaFX also announced it will increase margin requirements for certain indices CFDs to 10% (from 2%) ahead of US presidential elections. More specifically, leverage for the US30, NAS100, SPX500 will be temporarily cut from 50:1 to 10:1.


The changes will apply from 31 October until 14 November, 2016 and will only affect traders who use the MetaTrader 5 (MT5) trading platform. OctaFX also supports the MetaTrader 4 and cTrader.
The broker noted that further changes in trading conditions are also possible, depending on the market volatility.


OctaFX is one of many to announce introduce temporary margins for select instruments prior to the US elections which will take place on 8 November, 2016. In the past 10 days, several other forex brokers warned of change in their trading conditions and more are expected to follow suit.


UK-based brokerages IG Group and CapitalIndex announced their plans to hike margins for certain forex and contracts for difference (CFDs) in two stages. Leading Danish broker Saxo Bank will also increase the margins for some forex pairs and single equity, index and fixed income CFDs.


Brokerages undertake precaution measures as political uncertainty usually heightens market volatility, which makes online trades even riskier than they usually are. That is why companies seek to protect both themselves and their clients from losses.


OctaFX is a ECN/STP forex broker, authorized and regulated by the FCA. It offers competitive trading conditions and fast execution speed (under 0.1 second) on a selection of trading platforms. The brokerage also has an offshore-based sister company, registered on St. Vincent and the Grenadines.

 

TAGS: octafx  us elections 

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