IG, one of the largest forex brokers in the UK has reminded clients that margins will be increased ahead of the ahead of the EU referendum (Brexit Vote).
In an email to clients one of the largest regulated binary options brokers said:
At 3pm on Friday 10 June, the starting margin rates on the FTSE 100 and all GBP currency pairs will increase to 1%.
Additional increases will follow on Friday 17 June and Wednesday 22 June, which will affect these and other markets. We’ll send you further emails detailing these changes nearer the time.
If you have open positions during the affected period, please be aware that margin requirements to keep those positions open could rise. We recommend that you monitor positions carefully and maintain a sufficient account surplus throughout this period, particularly over weekends and before major announcements.
This again highlights how spread betting brokers are preparing clients for the potential of volatile and illiquid markets.
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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.