Cypriot forex broker EXNESS increases margin requirements on weekends, holidays

Cypriot forex broker EXNESS increases margin requirements on weekends, holidays

Cyprus-regulated forex brokerage group EXNESS has introduced changes to the rules it follows for providing leverage and has increased margin requirements for weekends and holidays, the broker said on Wednesday. During these types, the margin requirements for newly opened positions are now calculated based on maximum leverage of 200:1.

Increased margin requirements will be valid for orders opened during holidays and from 19:00 GMT +0 on Friday through 23:00 GMT +0 on Sunday. During this time margin will be calculated based on a leverage of 200:1. The margin for positions opened before 19:00 GMT +0 on Friday will no longer be recalculated.

The broker notes that closing a hedging order during the period of increased margin requirements will be treated as opening a new transaction. Due to this, in such cases the margin will be calculated based on the increased margin requirements.

This Cypriot dealer said the new rule aims to ease the process for providing leverage and make the conditions more transparent. Also, it will reduce the potential losses traders may incur in the event of a price gap at market opening.

EXNESS offers three types of accounts – Mini, Classic, and ECN for demo and live trading, and more than 80 currency account options, using the MetaTrader 4 (MT4) trading platform. Its customers can trade with more than 120 currency pairs at tight spreads of 0-0.3 pips and high leverage rates of up to 100:1 through 2,000:1, depending on the account type and balance. Its margin requirements increase when the funds available in a client’s trading account increase.

EXNESS max leverage

EXNESS was set up in 2008. The companies in the group are registered with and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Belize International Financial Services Commission (IFSC). They are also registered with the relevant regulatory bodies of Germany, the Netherlands, Poland, Spain, Italy, and Sweden.

EXNESS’ trading volume has been consistently increasing over the years from $8.73 billion in 2009 to nearly $2.1 trillion in 2014.

Source: EXNESS

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