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Dear Trader, The United Kingdom’s decision to leave the European Union took many in the industry by surprise and resulted in extreme volatility in currency markets.
Our superior technology enabled us to maintain pricing and execution quality in all of our trading products throughout the period. We are committed to our clients and continue to focus on providing the best possible customer service and trading experience As a result of client requests and the immediate risks from Brexit subsiding. We have decided to increase the maximum leverage on GBP and EUR instruments as specified below.
The leverage change will take place at market close on the 27th of June (23:59 platform time). However, Clients are still advised to continue trading cautiously as uncertainty remains high in Global markets. We will continue to assess the market conditions over the remainder of the week and expect margins to return to their pre-Brexit levels by market close on Friday the 1st of July. Whilst we have increased leverage we request you to consider the steps below to mitigate the risks from the high levels of market volatility we are currently experiencing. Extreme volatility – Expect abnormally high levels of volatility in GBP, EUR, CHF pairs and on UK and European indices. Increase capitalisation – Ensure that you have enough margin in your account at all times to withstand abnormally high volatility. Hedged accounts – Traders who have hedged positions (long and short the same product) should be wary that wide spreads may result in a margin call and or stop out We thank you for your understanding and continued support. We are here to help you should you have any questions or require any assistance. Please feel free to contact one of our support team members via Live Chat, email: support@icmarkets.com, or phone +61 (0)2 8014 4280. Kind regards, |
