FXCM Japan hikes margin for EUR trades

FXCM Japan, formerly a part of retail FX giant FXCM Inc (NYSE:FXCM) and now a subsidiary of Rakuten Securities, an arm of Rakuten Inc (TYO:4755), is planning changes to margin requirements for a range of currency pairs, including ones with the EUR.

Starting from market opening on June 29, 2015 (Monday), margin requirements on a set of currency pairs, will change. The broker says the new mainteinance margin requirements (MRM) reflect changes in market conditions.

The move happens as Forex companies are getting increasingly cautious amid concerns about chances of a Greek default and the consequences from such an event on the Forex markets.

From June 29th, MRM on a set of EUR pairs: EUR/USD, EUR/JPY, EUR/TRY, EUR/NZD, EUR/GBP and EUR/AUD, will rise from $480 to $520 (per 10,000 currency units). The margin on EUR/CHF will rise from $900 to $975.

These are not all of the MRM changes at FXCM from next Monday. Margin requirements will change for pairs with the British pound (GBP) and New Zealand dollar (NZD) too.

The changes apply to USD-denominated Standard accounts with the broker.

For details, check out the table below:

inside_fxcm_japan

FXCM Japan became a part of Rakuten Securities in April this year, as FXCM Inc sought to sell non-core assets to generate cash to repay its $300 million loan to Leucadia. The integration of services of the companies is continuing and FXCM Japan recently presented its new logo, reflecting the new ownership.

To view the original press release on the new margin requirements, click here.

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