As of August 1st the new ESMA product intervention measures will come into effect.
Accordingly and to ensure smooth operations, you will notice a new set of symbols on your Market Watch with a ‘xand #’ suffix, while x is used for variable spreads and # for fixed spreads (e.g. EURUSDx, GPBUSD#). For Professional Clients, starting July 30th all new trades as of market open on Monday must be opened using the new symbols, pertaining the same trading conditions.
As for Retail Clients, starting August 1st, all new trades must be opened using the new symbols, where the new ESMA margin rates will apply. All current symbols shall be set to "close only" at this time.
Any open positions you have going will remain on your account at the lower margin rates. These trades can be closed as normal at your discretion.
We would also like to remind you that the liquidation level for the Retail Clients will increase from 20% to 50% as of market open on August 1st 2018 therefore you must ensure you have enough margin in your account to support open positions prior to the change.
If you have any questions, please do not hesitate to contact us at support@orbex.com or dealing@orbex.com.
Kind Regards,
Orbex Team
OnsaFX, a regulated, global & zero-commission broker, is strengthening its presence in Africa by preparing to enter the Ghanaian market.