Retail Forex broker Alpari announced today it will change a raft of trading conditions on pairs with the euro (EUR), due to the chances of a Greek default and increased volatility on such trading instruments.
Starting from June 29, 2015 (Monday), the company may be imposing limits across a set of trading conditions, concerning:
- The size of opened positions;
- The total volume of open positions.
Alpari also warns that in case of low liquidity, spreads may widen and positions with certain instruments may be set to “Close Only” mode.
Also from June 29, 2015, the marginal group for EUR/USD (euro vs US dollar) and EUR/JPY (euro vs Japanese yen) will be temporarily changed to FX Special and that the marginal requirements for the FX Special group will be changed. In effect, this means a cut in leverage for EUR pairs.
For details, see the table below:
The broker asks its clients to make timely adjustments so that they will be able to fund their positions with regard to the new margin requirements. Reconfiguration of Expert Advisors may also be necessary.
To view the official announcement by the broker on the changes to trading conditions, click here.