We hope that you and your families are well and staying healthy during these challenging times. Please kindly note that due to global outbreak of COVID-19 which major impact on the world economy, thus the market is continue to react in abnormal turbulance and volatility. In preparation for this, FxCitizen will be taking the following strict precautionary actions to protect our clients and Company from the anticipated market turbulence during the occassions. The cease of these trading restriction is yet to be confirmed
1) MARGIN requirements on some commodities pairs may increase with immediate effect as we will be deploying re-assessments of margin requirements more frequently and in some cases, on an intraday basis. Clients with positions having exposure to significant moves in all asset classes may expect higher capital requirements without notice. Client should consider managing their risk and capital positions in their accounts to anticipate such changes.
2) Wider 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) Some of the benefits such as swap free and Deposit Bonus is continue to suspend temporary
4) Close only functions may applies
5) The Company may limit the maximum profit made to 100pips only for positions that opened after 10 March 2019. If the profit made is beyond 100 pips, it shall be adjusted to 100 pips only. Client may close the position before exceed 100 pips and open again to avoid this limitation
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 arises.
NOTE: Please be advised that should market conditions deem it necessary, FxCitizen reserves the right to make additional changes to trading conditions according to the current market situation