On Sunday, the 5th of July 2015, the Greek Bailout vote will take place. This is a major event which is expected to cause many adverse conditions in the market during the Monday Market Open, such as Price Gaps, Extreme Volatility, Low Liquidity and Widened Spreads.
HotForex is taking measures in order to safeguard clients’ exposure during such uncertain times.
In light of the above, please note that this Friday, the 3rd of July at 4:30 PM (GMT+3) all accounts will be set to “CLOSE-ONLY” mode. This means that clients will no longer be able to place new orders – either market or pending - on any of our available instruments. In addition, please note that pre-existing Pending Orders triggered after 4:30 PM GMT+3 will not be executed but will be cancelled instead.
Open Market orders placed before Friday, the 3rd of July 4:30 PM GMT+3, will not be affected and can be closed/adjusted as usual.
The “CLOSE-ONLY” mode will remain in force until standard market conditions are re-established on the Monday morning Market Open.
Furthermore, please be informed that further leverage adjustments of down to 1:50 may be applied on an individual or on across-the-board basis if the market conditions prove necessary.
We strongly advise you to lower any unnecessary risk and keep your accounts well-funded in the event that you wish to keep any positions open over the upcoming weekend.
We appreciate your understanding and remain at you full disposal should you require any further clarification.
The HotForex Support Team