Russian forex broker TeleTrade said on Tuesday it is introducing several changes to its trading conditions, which includes the reduction of floating spreads on all instruments.
The broker has set a new stop-out level of up to 20% of the margin requirement. Stop out is triggered when traders’ funds fall below the minimum margin requirement (which differs with each broker). In such case, positions with the highest margin rate are instantly and automatically closed at current market prices.
In addition, the broker has introduced a fee to orders in contracts for difference (CFDs) on shares for clients with Professional trading accounts. The fee is in the amount of 0.1% of the nominal value of the position.
The TeleTrade brokerage group offers trading in forex and CFDs on commodities, stocks, futures and currencies. It is present in 26 countries worldwide and in 2015 was the third largest retail forex service provider in Russia by trading volume with an average monthly volume of $45 billion (according to a report by Interfax-CEA).
TeleTrade holds a license from the Central Bank of Russia (CBR) and is registered with the National Bank of the Republic of Belarus (NBRB), which is the equivalent of obtaining authorization there. Group companies are also regulated by the Cyprus Securities Exchange Commission (CySEC) and registered with the relevant authorities throughout the EU.