Forex brokers are taking preventive action ahead of a referendum on the bailout of Greece's debt. Fxpro is a broker who just announced the trading ahead of the implementation of the referendum, warning of debt Greece, which later became the issue that most seized the attention of the market. Fxpro are already regulated by the FCA and the CySEC sends a warning on its clients, that they have taken the most wise preventive action to avoid the possibility of the bad that could have been inflicted by the results of the referendum on Greece debt bailout tomorrow.
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The policy is to raise margin requirements to 2 percent or 50:1 leverage for trading instruments as follows:
-Pair-pair Euro (including the EUR/USD)
-Currency-the currency of the G20
-Precious metals
Limit the margin to 1:50 will be applied only to the position of the newly opened trading on Friday (03/07), and is valid until Monday 6 July at 7:00 a.m. server time FXPro, or these policies could change according to the condition.
Broker-Forex Broker That Closed The Trading Of The Euro Referendum Ahead Of Greece's Debt
Forex brokers seem to have taken a very valuable lesson from the events of repeal pegging CHF against the Euro by the SNB, which at that time, many forex brokers who must face a major bankruptcy. In addition to FXPro, other brokers impose preventive measures of harm that might be caused by Greece's debt, among others the referendum is Alpari, EXNESS, FXTM, FXCM, Liteforex, FirewoodFX, and MFXBroker.
MFXBroker, for example, decided to increase the margin requirements for all I being 1:100 as of today this Friday as well, since 18:00 server time, and valid until Monday. While FirewoodFX suggested that the client does not open positions that involve pair-pair Euros after the US NFP on July 2, yesterday. More info about forex brokers can be seen in a Review of a Broker.
