The “Brexit” vote, taking place on the 23rd of June this year, on whether or not there should be a British exit from the EU, is an important day to be aware of for OctaFX customers.
OctaFX is responding to the increasing probability that there could be some changes in the currency markets, therefore, OctaFX will update its trading conditions.
Due to the Brexit vote, OctaFX will increase margin requirements on all pairs, that include British pound (GBP) and the Euro (EUR), starting from June 23rd until June 27th. The margin requirements are going to be increased to 1 per cent on the GBP pairs (1:100) and to 0.5 per cent on the EUR pairs (1:200). On the day of the referendum, June 23rd, margin requirements on the British pound pairs can be increased to 2% (1:50).
In order to avoid any margins calls or stop outs, please be aware that there may be a requirement to close positions or deposit additional funds to increase your account equity.
This vote is something that traders and markets cannot ignore.
Also, please be aware that there are always potential risks, OctaFX would like you to make you aware that the requirements can be changed depending on market volatility.