FX Brokerages Move To "Close Only" Ahead Of Monday Open

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First at Mayzus:

Upcoming risk - Instruments moving to 'Close Only' mode

Due to the uncertainty surrounding the ongoing Greek debt negotiations, and ahead of a potential announcement over the weekend that could lead to high volatility on the market, please be informed that we have decided to decrease your risks by temporarily moving all Instruments to 'Close Only' mode, from 22:30 GMT+3 on Friday the 26th of June 2015, until 00:30 GMT+3 on Monday the 29th of June 2015, trading terminal time.

Please take this information into consideration whilst making your trading decisions.

If you have any further questions regarding this issue, then please feel free to contact your Personal Account Manager or our support department on support@mayzus.com.

Shortly, everywhere else.

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Situation Surrounding Greece

Thu, 06/25 Category: Trading terms

Dear Clients,

Due to the possible exit of Greece from the European Union, we would like to inform you that from 29th June, 2015, instruments may be temporarily set to Close Only mode.

If you have any questions, you can contact our Customer Support by telephone on +44 8458 690980.

Best Regards,

Alpari International

 

Caution advised -FX broker platforms may impose restrictions into the Asian open

next FxPro:

With Greece’s uncertain future in the Eurozone continuing to dominate the headlines, we would like to inform you that we are doing everything in our power to reduce the risk of trading EUR pairs.

In order to provide a safeguard against a highly volatile market open, trading on EUR pairs may be subject to increased margin requirements.

This depends on the outcome of today’s decisive Eurogroup meeting, and how the situation in Greece unfolds over the rest of the weekend.

Please be advised that, depending on the severity of market conditions come Sunday night/Monday morning, we reserve the right to limit EUR trading to the closing of existing positions only.

We will, of course, inform you of the trading conditions that will apply to EUR pairs before market open.

 

Greek crisis – updates from 7 forex brokers

The crisis in Greece has significantly deteriorated over the weekend. This implies extreme volatility as markets open in early Asian trading.

Some brokers have taken measures and others have warned. They would like to avoid another SNBomb turbulence. . Here are the first reactions from 7 brokers:

  1. Alpari: Warned that trading conditions may change in EUR/USD and EUR/JPY. The announcement was already made on Thursday.
  2. FxPro: Issues a high volatility alert and states that “EUR pairs may be subject to increased margin requirements”. They also warn that they reserve the right to limit euro trading to the closing of existing positions, without an option to open new ones.
  3. FXCM: Before the weekend, the broker stated that the margin requirements on euro pairs increased. This applies to the various branches of the global firm.
  4. IC Markets: Issued a warning, asking traders to check their exposure.
  5. Lite Forex: Tripled margin requirements on all euro pairs. The limit is set to expire on Monday morning, but I guess everything depends on the developments.
  6. Mayzus: All instruments set to “Close only” due to the Greek crisis.
  7. XTB UK: Informed clients of a potential mess in Greece and warned that spread levels and limits may be increased temporarily.

These 7 responses are the very initial ones. It’s safe to assume that many more responses will follow and flow. Some of the news on broker is courtesy of Finance Magnates, which specializes in industry news. Other sources are the brokers themselves. We have reached out for more responses.

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The impact was much less then anticipated. I have a feeling that these 5 months were used to prepare for this and that they never had an intention to keep Greece in the EU

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