Forex Club, one of the leading forex brokers in Russia, joined the growing group of brokers to take precautionary measures ahead of the upcoming US presidential election next Tuesday, November 8.
The broker announced it will make several changes to its trading conditions in the period between November 7-12.
First off, Forex Club is temporarily limiting the maximum combined volume when opening new positions and is restricting the volume of the already opened (for MT4 equivalent in lots):
Forex: 5 000 000;
Gold and Silver: 1 000 000;
Oil and gas: 500 000;
Indices and Metals: 300 000;
Shares: 100 000.
Additionally, developments in the market may prompt Forex Club to reduce the leverage on the following instruments:
Oil and gas is 10:1
Indexes and metals: 10:1
With the approaching of the US presidential election, the list of brokers who are taking precautionary measures against eventual high market volatility is expanding. Among them are Dukascopy Bank, Hantec Markets, LCG, Blackwell Global, Vantage FX, MTBankFX, Alpari, OctaFX, CapitalIndex, IG Group and Saxo Bank. Another major forex broker – Forex.com – said it may hike the margin requirements.