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FxPro, a Europe-regulated forex and CFD broker, has joined some of its peers who take precautions against a possible high market volatility and wider spreads, around today’s UK snap general election.
Starting from June 08, 2017, at 10:00a.m. UK Time (GMT+1), the broker will increase the margin requirement for European Spot Indices to 2% (1:50). The change affects both new and existing positions on MetaTrader 4 and 5.
FxPro reserves the right to take additional measures depending on market conditions. The broker may allow fixed spreads to float. In case of extreme volatility and lack of liquidity, FxPro may also refuse the opening of new positions and enable the “Close Only” functionality.
Earlier this week several other major European brokers like IG, XM, Plus500 and ActivTrades also increased the margins on some instruments. So did Admiral Markets.
Other brokers, like Alpari, warned their clients of eventual increased market volatility and said it may change some trading conditions. These may include increased margin requirements, Limit & Stop levels and spreads. In addition, some instruments may only be available in “Close Only” mode.