The FXOpen UK Team
The new Leverage limits for retail clients are now less that one week away and will come into effect on Saturday 28th July. The new leverage limits will apply to open positions as well as new positions, so please ensure you have sufficient funds on your account to meet the new margin requirements for open positions before Saturday 28th July. If you do not have sufficient funds to cover the new margin requirements, you will be automatically closed out when the market opens.How much margin will I need? Your margin requirement will depend on what market you are trading and the size of your trade. Eg EURUSD will have 1:30 leverage so the margin requirement for 0.10 lot will be: 0.10 lot * 100,000 = €10,000 €10,000 / 30 = €334 Margin RequiredWhat are the new leverage limits? Major FX 1:30 Minor FX 1:20 Gold 1:20 Equity Indices 1:20 Commodities 1:10 Cryptocurrencies 1:2Who is affected by the changes? The new leverage limits and negative balance protection rules only apply to Retail clients. Professional clients are not affected by the new changes. If you meet 2 of the following 3 criteria you may be eligible to opt up to become a Professional client.
- You have traded an average of 10 times in each of the last four quarters on CFDs, spread bets or forex in significant size (with FXOpen UK and other providers)
- You hold an investment portfolio (including cash savings and financial instruments) exceeding €500,000 (with FXOpen UK and other providers)
- You have worked for at least one year in the financial sector, in a position that has given you knowledge of Forex, CFD, or spread betting trading
If you meet the requirements and want to enquire about opting up to a professional client status, you can reply to this email or contact [email protected]. If you have any questions regarding these changes or require assistance in calculating your new margin requirements, please do not hesitate to contact us. Kind regards,The FXOpen UK Team