Retail brokers tighten margins ahead of EU referendum
Saxo, FXCM and IG Group have already taken the first steps to reduce risks for their clients, while others stand ready to act
Retail foreign exchange brokers are increasing the margin rates required from clients in the run-up to the EU referendum that will be held in the UK on June 23 in a bid to reduce the possibility customers accumulating overleveraged positions and potentially ruinous losses.
Several retail brokers, including Saxo Bank, FXCM and IG Group, have already tightened the margins rates on sterling currency pairs, with other firms getting ready to take similar actions as the key date approaches.
The
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