One of the largest US forex brokers, Gain Capital, and online social trading platform and broker Darwinex were glad to inform clients that Brexit has not have adverse effects on them. Both companies will continue their operations as usual, as the safety measures undertaken by them obviously worked well. The brokers said they are planning to keep their margins raised until post-Brexit chaos and market volatility fade away.
Darwinex hiked its margin requirements on a number of currency pairs, as well as some indices as of 16 June 2016. For instance, the margin for the GBP/USD pair was raised to 5.00% from 0.50% and the one for the EUR/USD- to 2.00% (also from 0.50%).
Gain Capital, on the other hand, said that high volatility around the referendum was expected and it took proactive measures to protect both clients and the company itself, increasing client margin requirements, and counting on its robust risk management system.
As the SMNWeekly team has regularly informed you, a number of forex brokers have limited their leverage levels ahead of UK referendum: Forex.com, FxPro, RoboForex, HotForex, FxOpen, Orbexр ForexClub, FreshForex, Alfa-Forex, InstaForex, TeleTrade and Pepperstone, AxiTrader, FBS and others.
GAIN Capital Holdings, Inc. (NYSE: GCAP) is a New Jersey-based company with global presence across 180 countries in North America, Europe and the Asia Pacific regions. The broker serves retail and institutional clients on the exchange-traded and OTC markets, using the brands Forex.com, City Index, GTX, and Gain Capital. It offers trading in forex, commodities, bonds, indices, and global equities, among others.
Darwinex is part of Tradeslide Trading Tech, a company licensed and regulated by the UK Financial Conduct Authority (FCA). The social platform supports trading in forex and contracts for difference (CFDs) instruments.