Amidrising market uncertainty related to a forthcoming referendum on the UK membership in the European Union, we expect an increase in margin requirements, lack of liquidity, sharp price movements, and gaps.
Due to the above-mentionedevents, the LiteForex Company is forced to undertake the following measures in the period from 00:00:00, 20th June to 12:00:00 27th June, 2016 (the hours correspond to the trading server time, GMT +3):
Increase margin requirements for all GBP and EUR pairs, along with oil, commodities and major indices:
- fivefold in ECN, NDD, and PAMM accounts;
- tenfold in CLASSIC accounts;
- twentyfold in CENT accounts.
Suspend the opening of new trades with the “close only” mode solely available for the following GBP and EUR pairs:
- GBPNOK, GBPSEK, GBPZAR, EURPLN, EURHUF, EURNOK, EURCZK, EURSEK, EURDKK, EURZAR, GBPTRY, EURTRY.
We kindly ask you to consider this information when making trading decisions and assess the potential influence that the results of the referendum may have on your trading.
LiteForex warns you of eventual sharp price movements, considerable price gaps and limited liquidity in the period before, during and after the UK referendum. Please be aware that a number of slippages and order rejections may rise, especially for GBP pairs.
Also, consider an eventual increase in margin requirements for other tools that may take place in case market conditions require such measures. We have to warn you as well that credit funds may be withdrawn from trading accounts in the above mentioned period in response to the forthcoming risks.
The Company advises you to restrain yourself from entering the market, and either top up your trading accounts with open positions or close trades on GBP and EUR pairs.