After initiating a planned two-stage hike in margin requirements for all GBP and EUR pairs ahead of next week’s Brexit referendum, as we have seen done at a number of leading Forex brokers, ASIC regulated Vantage FX has taken things a step further by setting less traded GBP and EUR pairs and some other instruments to Close Only as of open of trading next Monday June 20.
Vantage FX stated that it may extend Close Only status to other instruments as well, depending on market conditions next week.
Vantage FX sent the following note out today to clients:
Brexit Referendum – ‘Close Only’ Forex Pairs
Sydney – June 17, 2016
The June 23rd 2016, UK ‘Brexit referendum’ is fast approaching and Vantage FX continues to monitor and set appropriate risk management settings for the protection of our clients.
In addition to last week’s announcement of a two phase change in margin requirement and trade sizes we will be implementing an additional measure by setting the following pairs to close only starting from Monday open, June 20th 2016:
As a further client protection measure, Vantage FX reserves the right to extend this requirement to other pairs at our discretion. While we intend to return to normal trading settings following the vote, we will monitor events closely and keep our clients updated.
As a reminder, client funds are held in segregated funds held by National Australia Bank (NAB) separate from Vantage FX company funds as required by ASIC regulations.
We are here to assist you 24 hours a day, 5 days a week, if you have any questions or require assistance with the above please do not hesitate to contact us using the details listed below.
For more information
Contact: David Bily
Phone: +61 1300 945 517
Email: [email protected]