LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Following a warning by Alpari a week ago concerning possible changes in trading conditions due to the Greek situation, the retail Forex broker today updated on the matter.
The company said that from July 6, 2015, it will change margin requirements for the trading instruments in the FX Special group. As you might recall, on June 29, 2015, the broker added the pairs EUR/USD (euro vs US dollar) and EUR/JPY (euro vs Japanese yen) to this group reflecting concerns about high volatility.
As the situation remains complicated, the company is tightening the margin requirements for the FX Special group of instruments. The maximum leverage is technically still 1:1000 on standard.mt4 and ecn.nt4 accounts but it will be applied to trading positions with a lower notional value.
For instance, before July 6, 2015, the leverage for positions with a notional value of more than $10 million is 1:25. After July 6th, the leverage of 1:25 will apply to positions with a notional value of more than $5 million.
You can see more details in the table below:
Many Forex companies adjust trading conditions as the Greek future in the eurozone and the European Union looms uncertain and worries grow over the consequences from an eventual Grexit. Retail Forex broker like FXPro and FXCM have also sought to change margin requirements on EUR pairs. Other companies have made even more drastic steps and have set trading with all instruments to “Close only”.
To view the official announcement on the pending change in trading conditions, click here.