In order to prepare for the expected increase in volatility surrounding the Japanese General Election on October 22nd, it will be necessary for ETFX to temporarily adjust the margin requirement for the all relevant FX pairs.
Effective Thursday October 19th (5 PM NY time on October 19th), the margin requirement on all relevant FX pairs will be 2% (leverage of 50:1) until further notice.
With this in mind, we would ask all of our clients to be very aware of the very real risks associated with this event. Trading conditions will be somewhat abnormal and open positions and market orders will be subject to (revalued against) the prevailing market price, however wide the bid/ask spread may be. We would therefore advise all clients to make sure that they have sufficient funds on deposit in order to sustain/maintain open positions under potentially, dangerous and extraordinary circumstances. Reducing or eliminating exposure during this event may ultimately be the safest option but obviously that is a decision that each client must take based on their own appetite for risk.
Please monitor margin on deposit with ETFX accordingly, and make any adjustments/changes deemed necessary.
Thank you in advance for your understanding in this matter. ETFX staff will be available, as always, to provide assistance whenever needed. Please feel free to contact us at firstname.lastname@example.org if you any questions or concerns.
Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading.
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