FxPro Unveils New Margins Ahead of Pivotal Brexit Vote

FxPro, an online multi-asset broker, has taken cautionary steps to lower its maximum leverage for select instruments ahead of the pivotal June 23 Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term vote, which could instigate huge levels of volatility, according to an FxPro statement.

The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.

The decision to alter margin requirements ahead of major votes or events is hardly unusual, as FxPro joins a laundry list of other brokers that have thus far embarked on similar measures. The last major event of note that elicited such an industry-wide level of response was the aftermath of the Swiss National Bank (SNB)’s decision back in January 2015.

As such, FxPro has released the following new margin requirements that are slated to take effect on June 17, 2016, consequently running until June 24.

• Major GBP Crosses – 2% (1:50)
• Minor GBP Crosses – 4%]% (1:25)
• Exotic GBP Crosses – 8% (1:12.5)
• All EUR Crosses (excluding EUR/GBP) – 1% (1:100)
• European Indices (Spot & Futures) increased to 5% (1:20)
• European Shares increased to 15% (1:6.66)