Brokers FreshForex, One Financial Markets remove temporary trading conditions after Brexit

Brokers FreshForex, One Financial Markets remove temporary trading conditions after Brexit

Forex brokers FreshForex and One Financial Markets said on Monday they have returned the trading conditions that they offered prior to temporarily changing them in regards to the UK referendum that took place on Thursday.

The UK has voted out of the European Union, causing markets to experience deep volatility and the British pound (GBP) to fall sharply on the Euro (EUR) to its lowest in more than 30 years.

FreshForex said its leading analyst Catherine Main expects market volatility to continue as the sales of EUR/USD, and GBP/USD pairs, Brent oil and FTSE100 index has not finished, adding that the broker will continue to monitor the market and, if necessary, will adjust the trading conditions for the safety of the clients.

Earlier in June, One Financial Markets hiked margin requirements for forex, indices, bullion, energy, and treasuries to 3%. FreshForex increased the margins for pairs containing GBP, EUR and Swiss franc (CHF), as well as for contracts for difference (CFDs) on the European indexes CAC40, DAX30, ESTX50, and FTSE100.

Also on Monday, Forex brokers FxPro said on Monday they have returned all trading conditions that were altered prior to the UK referendum to their normal, while Vantage FX and Blackwell Global will keep higher margins for a little longer. Meanwhile, Swiss forex bank Dukascopy Bank said it is s lifting the Brexit-related leverage caps on forex pairs containing GBP and EUR and some European indices, while keeping maximum exposure limits on these instruments until further notice.

Some forex brokers also announced on Monday that they remained strong and unaffected by the deep market volatility. Such are AxiTrader, Capital Index and FXPrimus. Moreover, Plus500 said it saw record-high number of sign-ups and new customers in a single day after the Brexit vote, as well as record spread revenue.

Sources: FreshForex/ One Financial Markets

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