XM, Oanda, raise margins around Italy’s referendum, RoboForex warns of volatility

XM, Oanda, raise margins around Italy’s referendum, RoboForex warns of volatility

Do not invest more money than you can afford to lose.


Oanda and XM have joined the list of forex brokers who are temporarily raising the margin requirements on some instruments, or are taking other measures in anticipation of the results of the Italian constitutional referendum on December 4 and the eventual subsequent market volatility.

Unlike many other brokers like Plus500, Trading 212, FxProIG Group, ActivTrades and  Admiral Markets who are raising margins on some forex pairs and indices before the vote, Oanda is implementing changes after the vote, on December 5.

Starting on December 5th at 17:00 EST, Oanda will apply the following changes to select currency pairs:

  • JPY pairs from 3% (maximum leverage ratio of 1:33.3) to 4% (maximum leverage ratio of 1:25)
  • NZD pairs from 2% (1:50) to 3% (1:33.3)
  • USD/MXN from 6% (1:16) to 8% (1:12.5)

The changes are affecting both open and new positions.

At the same time, Oanda is lowering the margin requirements on CHF pairs from 5% (max leverage of 1:20) to 3% (max leverage of 1:33.3).

Another forex broker that is altering the margin requirements om some instruments in anticipation of eventual market volatility after the referendum, is XM.

Starting from December 2, 10:00 PM server time (GMT+2), XM is making the following changes, affecting both open and new positions:

  • 1% (100:1 leverage) for EUR-denominated currency pairs, Gold, and Silver
  • 3% (33:1 leverage) for all CFDs on Equity Indices and Commodities

The requirements are reverting to normal on December 5.

The automated forex broker RoboForex is not changing the trading conditions, but has sent a message to its clients warning them of significant gaps in some instruments during market opening on December 5, sharp increase in volatility and reduction in liquidity, which might result in significant widening of spreads.

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