ETX Capital is the latest spread betting broker to raise margin rates across it’s asset classes.
ETX Capital, one of the largest forex brokers sent this notification to clients this morning preparing them for an uplift in margins.
The referendum to decide Britain’s membership of the EU will take place in 2 weeks time on Thursday the 23rd June. As we approach the day of the vote it is possible that markets will become increasingly volatile.
Whilst this volatility can represent increased opportunities it does also represent increased risk and losses may exceed deposits. In order to protect our clients it is likely that changes will be made to margin rates across our Index, FX and Commodity markets both on the 17th June and again on the day of the vote on the 23rd June. Further changes may occur depending on market volatility.
Notice of any changes will be made ahead of time. Please do take note of any announcements and ensure you have enough funds on your account at all times in order to maintain your open positions.
The Brexit EU Referendum is likely to be a major cause of illiquidity and volatility in the FX and Currency Markets over the next few weeks.
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Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.