Retail brokers take action amid concerns over Greece
Failure to make IMF payment sparks reaction on margin
Several retail brokers, including Saxo Bank, are increasing the margins required from retail investors ahead of Greece's referendum on accepting international creditors' proposals, set for Sunday, July 5.
The Danish bank warned clients that margin requirements will be increased by 2% in euro pairs, bringing the level of required margin to 4%. The bank is also going to push up the margins needed on sterling and dollar pairs by 1%. The changes will be effective from market close on Friday, July 3
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