Online forex broker FxPro said on Monday it will increase to 500:1 the maximum leverage requirements for some currency pairs with the Mexican peso (MXN) and the Swiss franc (CHF) from 1000 UK time on 15 November, 2016. The new conditions will use dynamic leverage model which automatically adapts to clients trading positions.
The change will affect all existing positions, as well as new ones. The broker said the change aims “to better service our clients”, but provided no further explanation as to what motivated the change. It only implied that further changes are possible.
Leverage will be hiked for the following instruments:
- MXN pairs – EUR/MXN and USD/MXN
- CHF pairs – EUR/CHF, GBP/CHF, USD/CHF, AUD/CHF, CAD/CHF, CHF/JPY, CHF/PLN, NZD/CHF
The change in trading conditions for the MXN could be explained with the election of Donald Trump as the next US president. The vote brought high volatility. Right after the announcement of the election results, the MXN plunged by more than 13% to an all-time low against the US dollar, which marks its biggest daily move in two decades.
FxPro is the collective brand name of FxPro UK Ltd., an entity regulated by the UK Financial Conduct Authority (FCA), and FxPro Financial Services Ltd., which is licensed by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Board (FSB) of South Africa.
The brokers offer complete services for all segments of the retail forex market, as well as trading with futures, indices, metals, shares, and contracts for difference (CFDs). It’s platform portfolio consists of FxPro SuperTrader, MT4, MetaTrader 5 (MT5) and cTrader.