FXCC, AxiTrader and Orbex Introduce Pre-Referendum Changes to Trading Terms

Three more brokers announce changes to their trading terms ahead of the Brexit vote, DeltaStock changes to be confirmed.

FXCC, AxiTrader, Orbex and DeltaStock have announced that they are joining the list of brokers who have introduced, or plan to implement, amendments to their trading conditions to reflect the possibility of market volatility leading up to the EU Brexit referendum on 23 June.

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FXCC

FXCC has announced the following preventive measures. From 13 June, the margin requirements were increased by 200% for all GBP pairs and 100% for all EUR pairs.

From market open on 20 June, the margin requirements will be increased by 200% for EUR pairs and by 100% for all remaining instruments. Furthermore, the margin call level will be raised to 150% and the stop out level will be adjusted to 100%. Increased margin requirements will also apply to pre-existing positions.

In the period prior to, during and after the Brexit vote, FXCC will be closely monitoring the market volatility to assess and decide whether additional preventive measures must be implemented for certain/all instruments such as further increasing margin requirements, enabling the ‘close-only’ mode as well as restricted availability of trading.

A return to normal levels and operation depends on market conditions following the British referendum.

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AxiTrader

To protect its clients from significant market movements, AxiTrader will be temporarily making changes to the maximum leverage available and stop out levels for all positions.

From market open on the 20 June, AxiTrader will be lowering the maximum leverage available on all products. As detailed on the website, for some products, the maximum leverage will be 20:1 while on others it will be 100:1. This will remain in place until market close 28 June.

Orbex

Orbex has introduced a range of enhanced measures to ensure the stability and safety of trading.

As of Thursday 16 June, the margin requirements for GBP and EUR crosses will be increased to 4% (1:25 leverage). Margin requirements for other symbols will be 1% (1:100 leverage).

As of Monday June 20th, the margin stop-out level will be at 50%.

Orbex added that further measures may apply if the market situation becomes unfavorable to its clients.

DeltaStock

DeltaStock has said that it is possible some changes will be made to their margin requirements, which will be confirmed imminently. It has advised its clients to choose their order sizes carefully, to closely monitor their open positions and to ensure they have sufficient funds in their trading account to counter possible large price gaps, especially over weekends and before important announcements. Up-to-date information relating to margin requirements can be found on the company website.

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