OctaFX Taking No Chances, Hiking Margins Ahead of Brexit Referendum
- OctaFX has now hiked margins on select currency pairs ahead of the Brexit vote this week.
The Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term vote looks to be the marquee event of the week, perhaps even the year, with the June 23 decision holding the keys to the trajectory of financial markets for the foreseeable future in H2 2016. In light of the upcoming vote, myriad brokers have taken preventative steps in making sure traders are given the adequate measures of protection in the form of reduced leverage, with OctaFX being the latest to alter its trading conditions.
The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
The vote itself holds enormous ramifications for currency markets, affecting instruments such as the GBP, UK contracts-for-difference (CFDs), and other indices with exposure to the country. OctaFX will be unveiling a reduced margin schedule across all of its GBP and EUR-denominated currency pairs, slated to begin today, as well as additional changes on the 23rd before the vote takes place.
The new margin requirements will be increased from 1% on GBP pairs (1:100) and to 0.5% on EUR pairs (1:200). However, on the day of the referendum GBP pairs will see a margin hike to 2% (1:50). The changes are by and large commensurate with the rest of the industry, with other brokers announcing changes that generally speaking take into consideration the same risks. A full list of the latest changes by brokers can be accessed by the following link.
The Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term vote looks to be the marquee event of the week, perhaps even the year, with the June 23 decision holding the keys to the trajectory of financial markets for the foreseeable future in H2 2016. In light of the upcoming vote, myriad brokers have taken preventative steps in making sure traders are given the adequate measures of protection in the form of reduced leverage, with OctaFX being the latest to alter its trading conditions.
The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
The vote itself holds enormous ramifications for currency markets, affecting instruments such as the GBP, UK contracts-for-difference (CFDs), and other indices with exposure to the country. OctaFX will be unveiling a reduced margin schedule across all of its GBP and EUR-denominated currency pairs, slated to begin today, as well as additional changes on the 23rd before the vote takes place.
The new margin requirements will be increased from 1% on GBP pairs (1:100) and to 0.5% on EUR pairs (1:200). However, on the day of the referendum GBP pairs will see a margin hike to 2% (1:50). The changes are by and large commensurate with the rest of the industry, with other brokers announcing changes that generally speaking take into consideration the same risks. A full list of the latest changes by brokers can be accessed by the following link.