MyFXMarkets announced the Changed Brexit Margin Requirements

June 16, 2016

It is your own responsibility to take care of your margins and positions.

On Thursday 23 June, UK’s EU referendum is being held to decide whether Britain should leave or remain in the European Union.

In the above situation the global financial markets will likely be highly volatile creating wider spreads and periods of reduced liquidity with a big gap risk.

As MYFX MARKETS has the duty to protect their clients’ interest, our Risk Department will be taking a prudent course of action and temporarily making changes to the maximum leverage available and stop out levels for all positions.

What is changing?

From market open on the 20th of June, 2016, the broker will be lowering the maximum leverage available on all Products.

For some Products (specified below) the maximum leverage will be 20:1, all other Products the maximum will be 100:1. This will remain in place until market close 28th June, 2016.

CHANGES TO MAXIMUM LEVERAGE

Product Maximum Leverage
AUDJPY 20:1
CAC40.fs 20:1
CADJPY 20:1
DAX30.fs 20:1
DJ30.fs 20:1
EURGBP 20:1
EURJPY 20:1
EUSTX50.fs 20:1
FT100.fs 20:1
GBPAUD 20:1
GBPCAD 20:1
GBPCHF 20:1
GBPJPY 20:1
GBPNZD 20:1
GBPUSD 20:1
NK225.fs 20:1
S&P.fs 20:1
SPI200.fs 20:1
XAGUSD 20:1
XAUUSD 20:1
All other products 100:1

If you are trading, or holding positions during this period, your action is required.

Please take a moment to consider whether this impending change will have any effect on your trading account.

The additional margin may require you to add funds to your account, or to reduce your positions, or risk being placed in margin call or being auto-closed out of some of your positions.

If you do not meet the higher margin obligation, your positions will be automatically closed out if the margin in your account is less than 50% of the minimum required level.

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Hercules