Online forex broker FxPro UK, the UK branch of the FxPro Group, intends to increase the margin requirements for ZAR currency pairs to 1% of the traded amount, the broker said in a notice on Friday. The new margin requirements will come into effect starting January 18.
The changes will be implemented due to the increased volatility seen across all ZAR currency pairs in the recent weeks.
In the past month, the ZAR has seen high volatility and the trend is expected to continue.
FxPro UK, together with FxPro Financial Services constitute the FxPro Group. FxPro UK is regulated by the UK’s Financial Conduct Authority (FCA) and FxPro Financial Services holds a license issued by the Cyprus Securities and Exchange Commission (CySEC).
The broker offers complete services for all segments of the retail forex market, as well as trading with futures, indices, metals, shares, and contracts for difference (CFDs). It serves both retail and institutional customers in more than 150 countries.