Admiral Markets has made two official announcements, one regarding inactive accounts and another alerting traders to possible volatility spikes due to tensions between the US and North Korea.
The forex and contracts for difference (CFDs) brokerage has announced that live accounts which have not seen any activity for more than two years will be charged €10 a month. However, accounts will not be fined if the balance is in danger of moving into the negative. The only exception will be if the positive balance is smaller than the fee amount, in which case the company will take whatever is in the account.
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Admiral Markets does give its dormant clients a chance to avoid the fee if they reactivate their accounts. In such cases, previous charges of up to three months prior will be refunded into the client’s account in full. The online trading company will begin charging the monthly fee on September 1, 2017.
The broker also announced that tensions between the US and North Korea might cause high volatility across the global financial markets and affect trading terms such price gaps, increased slippage, and negative balances due to the disruptive influence on the prices of instruments. Admiral Markets advises that military action of any kind could greatly affect the market. Traders and brokers are reportedly running for cover in order to avoid unnecessary risks.
In order to protect its clients’ funds, Admiral Markets may change its margin requirements, as well as set any or all instruments to ‘Close Only’ mode.