In regard to the upcoming United Kingdom referendum (“EU Brexit” referendum) which will take place on 23rd June 2016, and in order to protect our clients from the anticipated market turbulence towards the referendum, XM will implement the following measure for this weekend:
From 23:00 server time (GMT+3) on Friday, 17th June 2016, the margin required for both new and existing positions will be temporarily increased to 1% (100:1 leverage) on all currency pairs, as well as on gold and silver. Margin requirements for all other instruments will not be affected.
This temporary measure will be waived prior to the market opening of Monday, 20th June 2016and the margin requirement on all currency pairs, gold, and silver will be automatically readjusted in accordance with the previous leverage settings of each client’s accounts.
Clients who wish to keep open positions on currency pairs over the coming days should ensure that their accounts are sufficiently funded in order to avoid any disturbances from possible margin calls and/or stop-outs in their trading activity.
Any additional measures for the referendum day will be announced early next week.Publication source