Due to the upcoming referendum in Britain on 23rd of June and the resulting increased volatility and liquidity concerns leading up to during and shortly after the vote, HiWayFX is taking several preventative steps to protect the best interests of its clients and the Company and to ensure a continuous safe trading environment for all parties.
In light of the above, please be informed that on, Friday the 17th of June 10 pm GMT 3, the margin requirements for all GBP pairs will be increased to 2% (1:50), for the all remaining currency pairs, the margin requirement will be increased to 1:100 (1%).
In addition, margin for all metals will be increased to 2% (1:50). This will be applied to existing and new orders and to all accounts no matter their current leverage.
As a result of the above mentioned adjustments, we kindly request that you evaluate your current positions and calculate whether further funding will be necessary to maintain your open positions. We strongly advise you to perform the necessary funding actions well in advance, in order to ensure your account will be well-funded before the referendum takes place.
Please take into account that due to low liquidity, trading for these instruments can be halted or moved to "Close only" mode.
HiWayFX advises clients to avoid holding big open positions through the referendum or to deposit more funds to maintain adequate margin in their account.