Europe is primed for its next big vote this weekend, which has the potential to reverberate throughout the foreign exchange markets – on December 4th the Italian referendum will be held, prompting several brokers to alter their trading conditions ahead of the event, including social trading brokerage, Darwinex.
The move is largely on a par with those of other brokers that have also initiated leverage thresholds and other changes in anticipation of potential widespread volatility. Markets in 2016 have already grappled with the Brexit referendum and the US election, each of which resulted in unexpected outcomes.
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Both New and Existing Positions Being Affected
While the Italian referendum this weekend is not guaranteed to trigger any major market moves, a ‘No’ vote could provide an impetus that would put Italy on a path out of the European Union – an outcome that would have an enormous affect on the EUR.
Consequently, Darwinex will be implementing several margin changes on December 1st at 21:00 GMT – the changes will however affect both new and existing positions and the list of instruments being affected can be read by accessing the following link.