FXCM Japan, the ex-subsidiary of US-based retail FX giant FXCM Inc (NYSE:FXCM), which in April 2015 became a part of Rakuten Securities, today announced planned changes to margin requirements for currency pairs with the British pound (GBP).
The company said the tighter margin requirements reflected changes in market environment.
From June 22, 2015, the broker is raising the maintenance margin (MRM) on trades with the following pairs:
- GBP/USD – British pound vs US dollar;
- GBP/JPY – British pound vs Japanese yen;
- GBP/AUD – British pound vs Australian dollar;
- GBP/NZD – British pound vs New Zealand dollar;
- GBP/CAD – British pound vs Canadian dollar.
Until June 20, 2015, the maintenance margin per 1,000 currency units of the above listed pairs will be JPY 8,000. From Monday (June 22, 2015), the MRM will be higher by 10% at JPY 8,800 per 1,000 currency units. The changes affect individual accounts with the broker.
The company asks traders to take into account the new requirements, especially given that they affect more than one currency pair.
To view the official FXCM Japan announcement on the margin changes, click here.