Automated forex broker RoboForex said it will make several amendments to its trading conditions, including the introduction of a restriction on the leverage for positions exceeding $50,000.
The broker will offer a leverage of up to 200:1 for positions with a volume from $50 million to $200 million while positions with a volume exceeding $200 million will have leverage of up to 100:1.
Meanwhile, if an open position volume is less than or equal to $50 million the admissible leverage value is 500:1.
In addition, RoboForex is implementing a new stop-out logic in the cTrader platform, which uses a more advanced algorithm. The Smart Stop Out logic will only close what is absolutely necessary from the largest position in order to safely restore margin level and protect the position itself, the position entry point and the trading account for as long as possible.
To reflect the changes, the broker will also change its regulatory documentation as of 27 March. The updated document will be considered as accepted by traders in case they don’t refuse it within five days after the broker’s current announcement.
RoboForex, headquartered in Cyprus’ Limassol, is a forex brokerage group with representative offices globally. It offers trading in forex, contracts for difference (CFDs), and metals. The group used to provide binary options instruments under the cap of its Cyprus-regulated unit, but it discontinued the service in early June last year.
The brokerage consists of the holding company RoboForex Financial Group, and its units Cyprus-regulated RoboForex CY Ltd., New Zealand-based RoboForex LP., and Belize-regulated RoboForex Ltd., which until recently was known as RoboTrade Ltd.