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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, offshore forex brokerage FXCL Markets, trading as FXCL, said it is prolonging its Brexit Bonus campaign by another week until 3 July, 2016. The program envisions a 120% bonus with exclusive withdrawal term for traders who deposit at least $50 and transfer their credit to the balance on their own terms.
Due to the ongoing market volatility, Vantage FX and Blackwell Global have decided to keep margins higher than usual until further notice. Both brokers triggered a close-only mode for certain instruments prior to the referendum, but have now resumed trading in all instruments.
Vantage FX noted that the precarious measures taken kept its clients safe through the market response to the UK referendum, or what it referred to as “the biggest financial market shock since the infamous Black Monday of 1987”.
FxPro, on the other hand, said has returned to its standard trading conditions, despite expecting to continue to see market volatility over the next weeks, but not as deep as it was seen last Thursday and Friday, or the days consecutively after the UK vote. The broker, noted, however, that it will continue to monitor the market and, if needed, will act accordingly. FxPro warned investors to be cautious when trading and to keep the changing market conditions in mind.
Also on Monday, AxiTrader also announced it was not affected negatively by the market conditions in the past few days and is has gotten back to its normal trading conditions, while Plus500, another forex brokerage, 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.
The UK voted on Thursday to exit the European Union (Brexit), causing significant market volatility and uncertainty. As a result of the aftershock, the British pound (GBP) crushed to very low levels.