Retail Forex broker DMM FX Australia Pty Limited (DMM FX) today unveiled a set of pending changes to its trading conditions, including new spread levels for 27 currency pairs, such as the popular EUR/USD and GBP/USD.
The new spreads will be effective 9:00 am (AEDT) Monday, February 22, 2016. You can find details about the changes in the table below. Let’s pick three pairs to see what the change will be like for them.
The fixed spread on EUR/USD is currently at 0.7 pips and the new spread is set to be 1.7 pips. The same change will apply to AUD/USD. For GBP/USD, the spread will change from its current level of 1.1 pips to 2.2 pips.
On the brighter side, also from February 22, 2016, DMM FX will be introducing Negative Balance Protection. The broker says the new mechanism is being implemented to ensure that its clients are safeguarded from trading losses that can occur as a result of margin requirement.
You can view the full announcement from DMM FX by clicking here.