UK General Election vote counting still on-going, which still possibly lead to extreme market volatility, thin market liquidity, abnormal spreads and price gaps in many currency, commodity and stock markets globally. In preparation for this, FxCitizen extends the following precautionary actions to protect our clients and Company from the anticipated market turbulence during the elections.
1) MARGIN requirements on all GBP still maintained at 200% until the 9th June 2017 server time 21:00
2) Wider and abnormal SPREAD is expected including fixed spreads which may be allowed to float due to high spread received from our liquidity provider. However, we will make all possible efforts to keep it at a minimum.
3) Price GAP and SLIPPAGE is expected to happens, means stop loss would possibly occurs at a worse rate than originally set in the order which is quote as [sl/gap] in your trade comment. For better understanding, please refer to http://www.investopedia.com/terms/s/slippage.asp
4) The offering of Deposit Bonus and Margin Booster will be temporary ceased, effective from 7th June 2017 server time 00:00 and will be resumed back on 9th June 2017 server time 00:00. Any deposit made from 7th June 2017 server time 00:00 to 9th June 2017 server time 12:00 will receive the bonus after 9th June 2017 server time 12:00.
We would like to urge all active clients to fund your accounts ahead of time to maintain margin requirements to prevent stop out of your active trades as increased margin requirement and wider spread will lower down your account margin level and may lead to stop out even though all your trades is fully hedged. Plan and revise your trades carefully especially on slippage. As always, we carry on by our commitments to our clients and assure you that all trading will be in accordance to our Client Agreement.
Please do not hesitate to contact our customer support if any question arise.
NOTE: Please be advised that, should market conditions deem it necessary, FxCitizen reserves the right to make additional changes to trading conditions in the days prior to and after the UK General Election.