Today globally regulated brokerage firm Admiral Markets announced they will issue temporary changes in its trading terms regarding GBP currency pairs and FTSE100 instruments, lasting from the session opening Monday, 20 June until 12:00 pm EET, 27 June.
Margin requirements for all currency pairs with the pound sterling (GBP) and FTSE100 index CFD will increase by five times on Admiral.Markets and Admiral.Classic accounts and by two times on Admiral.Prime accounts.
New leverage rates for Admiral.Markets accounts:
| Account balance | Leverage | ||
| EUR, USD, CHF | GBP | Pairs with GBP | [FTSE100] |
| Up to 20,000 | Up to 12,000 | 1:100 | 1:40 |
| 20,000 – 80,000 | 12,000 – 50,000 | 1:40 | 1:16 |
| 80,000 – 150,000 | 50,000 – 90,000 | 1:20 | 1:8 |
| Over 150,000 | Over 90,000 | 1:5 | 1:2 |
New leverage rates for Admiral.Prime accounts:
| Account balance | Leverage | |
| EUR, USD, CHF | GBP | Pairs with GBP |
| Up to 80,000 | Up to 50,000 | 1:100 |
| 80,000 – 300,000 | 50,000 – 180,000 | 1:50 |
| Over 300,000 | Over 180,000 | 1:25 |
New leverage rates for Admiral.Classic accounts
| Account balance | Leverage |
| EUR, USD, CHF, GBP | Pairs with GBP |
| Up to 2,000 | 1:100 |
| 2,000 – 5,000 | 1:40 |
| Over 5,000 | 1:20 |
Additionally, internal fund transfers from or to GBP accounts via the traders back office may be temporarily disabled on Thursday, 23 June.
Admiral Markets asks clients to properly evaluate the potential impact of the changes on your trading.
Opening new positions using exotic currency pairs and the less liquid cross rates with GBP will be restricted for the duration of the above terms. The Close Only mode will be enabled for the following instruments: GBPCAD, GBPNZD, GBPCZK, GBPHKD, GBPMXN, GBPPLN, GBPSGD, GBPTRY, GBPZAR.
Please be aware of the increased risks within the period leading up to, during and after the Brexit vote:
- sharp moves in currency pairs, especially in pairs with GBP
- significant price gaps
- limited liquidity, which may result in an increased amount of order rejections and slippage.
In addition to the amendments described above, Admiral Markets stated it reserves the right to make further changes, depending on the market situation around the Brexit vote.