FXTM (ForexTime), a Cyprus-regulated forex broker, announced it is changing the margin requirements on spot metals, on all servers, except Pro, as of August 10, Wednesday.
The new requirements will be applied in case of any activity on the trading account – opened, closed or modified positions.
According to the tables, the broker lowers the notional value margin requirements in USD, EUR and GBP:
FXTM notes that if positions on forex currency pairs on a Standard.MT4 or Cent.MT4 are opened, closed or modified in the hour before the trading session ends on Friday, the leverage will be fixed at 1:100. Before the beginning of the next trading session, the leverage will be reset based on the total volume of open positions on the account.
FXTM is based in Cyprus and regulated by the local watchdog, the Cyprus Securities and Exchange Commission (CySEC). The broker offers trading in more than 100 instruments, including forex, spot metals, and CFDs on stocks, commodities, and exchange traded fund (ETFs). It serves retail and institutional clients alike and supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
Last week the broker announced it is updating the MT5 platform to the latest version featuring hedging and earlier this week boasted it obtained a license from South Africa’s regulator, the FSA.