Posted at 15 June 2016 / Categories FirewoodFX Company News
Dear Client,
Please take note to change of margin requirement applied for all GBP and EUR based instruments during the Brexit event, start from the market opening on June 20th,2016 and throughout the whole week:
June 20th, 2016: 5 folds of normal margin requirement
June 21st, 2016: 4 folds of margin requirement of the previous day
June 22nd, 2016: 2 folds of margin requirement of the previous day
June 23rd-24th, 2016: To Be Advised
The increasing margin requirement is correlated with the free margin and margin level, so that we urge traders to take into account of any open positions to prevent the margin call and automatic stop out. Thus, we strongly advise to flat all of your open positions before the adjustment applied.
Executing market order and pending orders (Stop/Limit Orders) during the Brexit event are also discouraged considering that the low liquidity and extreme volatility market condition can increase the risk of slippage.
Leverage, spread and another currency pairs margin requirement might be adjusted based on latest situation with or without prior notice.