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Forex broker Admiral Markets UK, part of Admiral Markets Group, said on Monday it will change key conditions for trading in contracts for difference (CFDs) on indices and commodities via the Admiral.Markets and Admiral.Prime trading accounts. The changes will take effect as of the beginning of the trading day on 28 March, 2016.
The broker will increasethe leverage rates on certain instruments, in addition to introducing new order sizes and altering spreads.
The leverage rates on some popular indices, commodities, and Swiss franc (CHF) currency pairs for investors who use the two accounts will be increased to up to 200:1. Leverage is a type of virtual borrowing that traders can get from brokers. Higher leverage enables investors to handle sums larger than their deposited funds, thus increasing their buying power. More details about the new leverage rates for the different trading instruments follow:
Some of the most popular index CFDs will be given new contract size values, allowing investors to trade with lower amounts. Details follow:
Meanwhile, spreads on certain index and commodities CFDs will be further reduced. Lower spreads mean lower costs for investors as the difference between the buying and the selling prices are smaller. Following are details about Admiral Markets’ new spreads:
Meanwhile, the broker will also make changes to the swaps on certain instruments.
The broker also said it intends to further expand its CFDs offering, without providing details.
Admiral Markets UK offers three types of trading accounts – Admiral.Markets, Admiral.Prime, and Admiral.MT5.
Admiral Markets UK is based and regulated in the UK and has a sister company in Australia, Admiral Markets Pty. Both brokers are units of Estonia-based Admiral Markets AS, part of the holding company Admiral Markets Group, which also includes Cyprus-regulated Admiralex.
Source: Admiral Markets