IC Markets Becomes Latest Broker to Brace for Potential Brexit Impact

The word of the day and heading into the weekend is still 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, and while the likelihood of a schism between the UK and the EU has become less likely this week, foreign exchange brokers are taking no chances, altering leverages on select instruments ahead of the June 23 vote. IC Markets joins a growing list of brokers in adjusting its leverages amidst a cautionary approach to potentially heightened levels volatility next week.

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.

Like many other of its counterparts, IC Markets has targeted GBP-denominated currency pairs and the UK100 index as the key focus of its leverage reduction. As such, the broker has implemented a leverage of 1:50 (2%) for GBP pairs and the UK100 index, by far the index with the largest exposure into the UK capital market. By extension, EUR currency pairs and the euro indices are also slated for an adjustment – both sets of instruments will see their leverage reduced to 1:100 (1%).

The timetable for IC Markets’ leverage and margin changes is largely commensurate with the rest of the industry, beginning on June 21 and lasting until the vote and any potential flux in volatility has ran its course. Finance Magnates has compiled a list of existing brokers that have already opted to change their leverage ahead of the Brexit vote. The list can be read below in its entirety.