After returning to normal most currency pairs following last week’s US election, FCA and CySEC licensed Retail Forex broker FxPro has sent a note out to clients, indicating that it is also loosening margin requirements to ‘normal’ for Mexican Peso and Swiss Franc currency crosses.
Given the heavy volatility in the Peso following Donald Trump’s surprise victory in the US Presidential election, FxPro had capped leverage on MXN pairs at 20x. FxPro had also maxed out CHF pair leverage at 100x since last January’s surprise Swiss Franc spike.
The note sent out by FxPro reads as follows:
Margin Requirements on MXN & CHF Pairs to Change
November 14, 2016
We would like to inform you that, to better service our clients, we are reducing the margin requirements across currency pairs that include the Mexican peso (EURMXN, USDMXN) and the Swiss franc (EURCHF, GBPCHF, USDCHF, AUDCHF, CADCHF, CHFJPY, CHFPLN, NZDCHF). This change will come into effect on Tuesday, 15 November, 2016, at 10:00a.m. UK Time (GMT+0 / 12:00p.m. Server Time), and will affect all open positions.
Maximum leverage for crosses containing either currency will be raised to 1:500, and dynamic leverage will be applied.
We shall be informing you in advance, should any further changes take place.