June 17, AtoZForex – Following the list of Forex Brokers Brexit risk management strategies, AtoZForex has learned that Juno Markets and UFX have also braced themselves for the EU referendum next week. As many Forex brokers have decided to take Brexit risk management activities from today onwards, check below what Juno Markets and UFX Brexit Risk Management are.
UFX Brexit Risk Management
According to Dennis De Jong, Managing Director at UFX.com, the company is planning to make changes to its leverage rates and margins on high-risk contracts:
''High volatility is expected for the GBP and its major counterparts, and may affect leverage rates and margins on high-risk contracts. The changes in leverage and margins may begin this week and continue until June 24th.''
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Juno Markets Brexit Risk Management
The Marketing Manager at Juno Markets, Aslan Chen stated that the Global Asian Broker is going to lower the leverage on all of its trading accounts:
''Yes, Juno Markets will be lowering the leverage on all trading accounts to a maximum of 200:1 on Tuesday June 22nd at 8 am GMT. We will be closely monitoring the market conditions, and should we see substantial periods of illiquidity or market gaps, we may need to reduce leverage further. We will do our utmost to inform you in a timely manner should we need to reduce leverage beyond the initial reduction. We will restore leverage to the previous level as soon as market conditions have normalized, which we expect to be early in the following week.''
More information will follow...
AtoZForex's investigation into the Brexit Risk management continues, we are adding more information about the Forex Brokers' Brexit risk management strategies. As we're still waiting for the replies of the other brokers in the market. If your broker is not present on this article, then please check the first list of brokers' risk management strategies or the third list of Forex brokers that don't change their leverage.
Still, if your broker is not present on any of these lists, then immediately contact your broker for an update on what their risk management activities are. Are they adjusting the leverage? Will they limit trading on GBP pairs? Prepare yourself for the market volatility amid a possible Brexit in the United Kingdom.
Your broker is not on the list? Contact AtoZForex editor team now!