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Just a few days after adding several forex pairs with Central European currencies, the European forex broker Admiral Markets announced it is lowering the leverage on the pairs containing the Czech Koruna (CZK).
Starting from May 22, 2017, the leverage on Admiral.Markets and Admiral.Prime account types will be as follows:
|Notional position value in EUR or equivalent in another account currency||Leverage for USDCZK, EURCZK and GBPCZK|
|Up to 1,500,000||1:25|
|1,500,000 – 2,300,000||1:10|
Previously the USDCZK and EURCZK had the standard leverage of 1:500.
The amended margin requirements will be applied to all open positions on instruments containing the Czech koruna after the session close on Friday, 19 May, 2017. The lower max leverage also means that the pre-close term will no longer be applicable to the above currency pairs on Fridays.
According to Admiral Markets, the reason for the change is that the current leverage for those pairs was “too aggressive” and liquidity providers who keep much lower leverage levels do not provide sufficient liquidity. This often results in rejections of larger trades.
Currently Admiral Markets offers over 50 forex pairs – major, minor and exotic, as well as spot metals, spot energies, CFDs on indices, stocks and bonds.
Admiral Markets is an online trading provider, offering trading in forex and CFDs on stocks, indices, precious metals and energy and is regulated by UK’s Financial Conduct Authority (FCA). It offers several types of account, with minimum deposit requirement starting from $250 and leverage of up to 1:500.
The company also has an Estonia–based sister company, Admiral Markets AS, which is a white label provider regulated by the Estonian Financial Supervision Authority (EFSA). The Admiral Markets group also consists of Australia-regulated Admiral Markets Pty and Cyprus-regulated Admiralex.