Geneva based retail forex broker Dukascopy Bank has announced that it will be extending its leverage limits offered to currency traders, in the wake of yesterday’s pro-Leave Brexit vote, and the volatility in financial markets which has ensued.
Dukascopy has also put in place position limits for clients.
The leverage and position limits will remain in place until at least Monday morning.
Dukascopy has sent out the following note on its updated margin policy:
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Margin policy update
Due to the UK decision to leave EU and possible risks of important announcements during the weekend, Dukascopy Bank and Dukascopy Europe have decided to prolong temporarily implemented measures.
The leverage remains reduced to 1:30 on GBP and EUR currency pairs and 1:10 on GBR.IDX, DEU.IDX/EUR, ESP.IDX/EUR, EUS.IDX/EUR and FRA.IDX/EUR over the weekend and on Monday.
Maximum position limitations for UK and European CFD indexes also remain in force: GBP/IDX – 5 contracts; IDX/EUR, ESP.IDX/EUR, EUS.IDX/EUR and FRA.IDX/EUR – 10 contracts.
The decision to cancel temporary limitations will be taken on Monday and announced on the website around 10 GMT.