Dukascopy lifts leverage cap, keeps exposure limits, while GBP’s free fall continues

Dukascopy lifts leverage cap, keeps exposure limits, while GBP’s free fall continues

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Swiss forex broker Dukascopy Bank announced it is lifting the Brexit-related leverage caps on forex pairs containing GBP and EUR and some European indices it has imposed on June 22 and extended on June 24.

With immediate effect, Dukascopy’s clients will be able to trade all currencies and indexes according to the normal leverage settings.

The broker, however, will keep the maximum exposure limits on GBP and EUR based indices until further notice.

They are updated from the previous limits in the following way:

GBP/IDX – 10 contracts
DEU.IDX/EUR -10 contracts
ESP.IDX/EUR -10 contracts
EUS.IDX/EUR – 30 contracts
FRA.IDX/EUR – 20 contracts.

Earlier on Monday several other forex brokers like Vantage FX and Blackwell global said they are keeping the Brexit margin requirements, while FxPro said it is lifting all restrictions.

Meanwhile, the British pound hit a new 31-year low against the dollar on Monday, falling another 3% on top of Friday’s 10%, to $1.32 and analysts at several banks slashed their forecasts for the pound. The British indices also continued their tumble with the FTSE 100 falling 1.1% before the London Stock Exchange had opened and even more after the markets opened, in spite the expectations for a better performance.

Dukascopy Bank, set up in 2004, is based in Switzerland’s Geneva and operated globally through offices in Zurich, Riga, Kiev, Moscow, Kuala Lumpur and Hong Kong. It is licensed as a bank and as a securities dealer by Switzerland’s Financial Market Supervisory Authority (FINMA). The company owns 100% in brokerage Dukascopy Europe IBS , e-payments provider Dukascopy Payments, both based in Latvia, as well as Japanese broker Dukascopy Japan K.K., formerly Alpari Japan K.K.

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