We would like to inform you that on Thursday, the 23th of June 2016, a referendum will take place in the UK to determine whether the British population wishes to maintain their European Union membership.
This is a major political event that is expected to impact the financial markets and may result in high volatility, price gaps/spikes, lack of liquidity, widened spreads or other movements in the markets.
As an initial measure, HotForex is taking some preventative steps to protect the best interests of its clients and the Company and to ensure a continuous safe trading environment for all parties.
In light of the above, please be informed that on, Friday the 17th of June at market close, the margin requirements for all GBP pairs will be increased to 4% (1:25). In addition all remaining forex pairs and gold margins will be increased to 2% (1:50). This will be applied to existent and new orders and to all accounts no matter their current leverage.
As a result of the above mentioned adjustments we kindly request that you please evaluate your current postions and calculate whether further funding will be necessary to maintain your open positions. We strongly advise you to perform the necessary funding actions well in advance, in order to ensure your account will be well-funded before the referendum takes place.
You may calculate the amount of funds needed to maintain your current positions by using our Position Size Calculator here.
Furthermore be informed that HotForex will continuously monitor the reactions of the market as this event approaches and highlight that further restrictions to our standard market conditions might apply.
Please familiarize yourself with the risks associated with this event and perform due diligence risk management when trading under such unprecedented market conditions.
If you have any queries please contact our customer support at email@example.com.
The HotForex Execution Team