Ahead of the upcoming UK referendum on EU membership scheduled for Thursday, the majority of brokerage firms are raising their margin requirements, mostly on GBP, EUR and UK indices, amid fears that the Brexit vote on European Union membership on June 23 will trigger market mayhem.
This article is designed to be an easy-to-understand guide that lists the margin and leverage changes across most of the key players in the trading industry. The tightening of the trading conditions was a mandatory step to help ensure that their clients are provided with better protection against the predicted volatility surrounding this event.
You can find below a list of brokers that have updated their trading requirements, and more will be added as news comes in.
Darwinex: Margin for EUR crosses up to 2% (from 0.5%-1%), margin for EUR/GBP up to 5%. Date of effect: June 16th
Admiral Markets: Margin for GBP pairs and FTSE100 up by five times on Admiral.Markets accounts. Date of effect: June 20th
JFD Brokers: Margin for AUD/USD, USD/CAD, NZD/USD, USD/JPY down to 0.5% from 1.0%. Date of effect: June 12th
GMO Click: Limits to size of open positions. No GBP/JPY trading on FX options. Date of effect: June 11th
FXCC: Margin for all GBP and EUR pairs up by 200% and 100% for all remaining ones. Margin call level up to 150% and stop out level up to 100%. Date of effect: June 13th
Dukascopy: Leverage for GBP pairs down to 1:30 and for GBR.IDX to 1:10. Date of effect: June 22nd
Saxo Bank: Margin for all UK Index CFDs up to 8%, GBP pairs up to 7%. Date of effect: June 20th
Orbex: Leverage for GBP and EUR pairs down to 1:25, other symbols 1:100, stop out level up to 50%. Date of effect: June 16th
IG Group: Margin for FTSE100 and all GBP pairs up to 1% from 0.5%.Date of effect: June 17th
OANDA: Leverage for GBP pairs down to 1:20 and for EUR pairs down to 1:50. Date of effect: June 17th
IronFX: Margin for FTSE100 and GBP crosses up to 5%. Date of effect: June 17th
XM: Margin for all currency pairs, gold and silver up to 4% and 10% for all CFDs on equity indices and commodities. Date of effect: June 22rd
Rakuten: Maring for GBP pairs up, GBP/USD to $140. Date of effect: June 19th
Z.com: Leverage for EUR/USD down to 1:100, GBP/USD, GBP/JPY, EUR/GBP to 1:50. Date of effect: June 19th
Invast: Net open positions for GBP crosses restricted, higher margin. Date of effect: June 20th
AxiTrader: GBP crosses, several EUR, XAGUSD, XAUUSD, European indices- margin down to 1:20. Other instruments 1:100. Date of effect: June 20th
LiteForex: GBP and EUR pairs, oil, indices, commodities - margin increase up to twentyfold. Only 'close mode' for exotic GBP and EUR crosses. Date of effect : June 20th
Vantage FX: Margin increase up to 5% and 2% for XAUUSD, limited max trade size and 'close only' mode for minor GBP and EUR crosses. Date of effect: June 20th
FxPro: Margin for indices increased to 5% and FX to 2%(cTrader) and up to 0.5% for MT4, depending on position size. Date of effect: June 17th
FxCrown: Margin for GBP and EUR crosses down to 4%. Date of effect: June 17th
ETX: Margin for indices up to 2%(5% for Spain/Italy) and 3% for gold and oil. Margin for GBP pairs and minor EUR up to 3%. GBP/CHF and EUR/CHF up to 6%. Date of effect: June 16th
Forex .com: Margin for GBP pairs and UK indices up to 3% (including EUR/GBP). Margin for EUR pairs and indices and US indices up to 1%. Date of effect: June 17th
Capital Index: Margin for all tradable assets up to 5%, stop out level up to 90%. Date of effect: June 17th
Roboforex: 'Close only' mode for GBP pairs. Since 23rd deposit for GBP instruments up to 20 times. Date of effect: June 20th
DeltaStock: Possible changes - to be updated. Date of effect: TBA
INTL FCStone: GBP and EUR pairs, gold, silver- 200% of min CME margin. Date of effect: June 16th
BMFN: Deposit for FX up to 2%, commodities to 5%,indices to 10%. Stop Out at 100%. Date of effect: June 19th
Pepperstone: Leverage for GBP pairs and UK100 down to 1:50, for EUR pairs and indices down to 1:100.Date of effect: June 18th
DMM FX: Trading suspended on GBP and EUR pairs. Date of effect: June 22nd
UFX: Margin on all GBP pairs up to 2% and for Gold 1%. Date of effect: June 22nd
OctaFX: Margin for EUR pairs up to 0.5% , margin for pairs up to 1%, and can be increased to 2% (1:50). Date of effect: June 23rd
ForexClub: Maximum leverage available for trading is not going be more than 1 to 20. Also, next week it could be lowered further to 1 to 10 and other limitations may be applied. Date of effect: June 22nd
SwissQuote: Select GBP crosses margin increased to 5%: Date of effect: June 17th
Fullerton Markets: Increase in margin requirements on a selection of GBP crosses ranging from 2%-4%. Date of effect: June 21st
ICM Capital: All EUR crosses will have a leverage of 1:50, all GBP crosses will have a leverage of 1:25 and F100 and DAX will have a margin of $5,000. Date of effect: 12th June
easyMarkets: Trading remains unchanged with leverage on instruments at 200:1, with stop losses guaranteed
This article was prepared with the assistance of Finance Magnates Business Intelligence Department.
