It took couple of days for FXOpen to reply to my support ticket. Anyway, they have confirmed that increase of margin req is NOT valid for crypto trades.
Topic: FXOpen - increased marging req 5 times and fees 2 times (Read 197 times)
Update1:
- their live support said that 5 times margin req increase IS valid for crypto too
- their forum super moderator said that it is NOT valid for crypto but only for FX and CFDs
- their live support said that 5 times margin req increase IS valid for crypto too
- their forum super moderator said that it is NOT valid for crypto but only for FX and CFDs
FXOpen posted this note couple of hours before august 17th:
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Due to the growing political tension between North Korea and the USA, FXOpen may increase margin requirements up to 5 times their normal values without further notice starting with the market opening on August 17th, 2017. This may affect all traded financial instruments.
We are taking this measure to reduce your risk due to the potential high volatility, rapid price movements or market gaps that may occur in case of further political escalation. Please consider this information in your trading and ensure you have sufficient funds on your account to maintain your positions.
Best Regards,
FXOpen Trading Desk
https://www.fxopen.com/en/about-us/news/fxopen-increases-margin-by-5-times/
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This margin requirement increase of 5 times means that instead of 1:3 leveraged trades, you will be allowed only 1:0.6 (leveraged? or what is called this?). I have asked their support is this true and they just said: "maybe"
I have also asked them to opt me out of that "risk protection" as they called.
Trading fees increase 2 times to 1% for full-turn:
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Dear Clients,
Please, note that starting from September 1, 2017 the half-turn commission for crypto accounts will be 0.5% of the transaction volume.
Please, consider this information when planning your trading activities.
https://www.fxopen.com/en/about-us/news/changes-to-trading-commission-on-crypto-accounts/
-------------------------------------
Is this trading fee increase also to blame USA Korea political tensions?!
-------------------------------------
Due to the growing political tension between North Korea and the USA, FXOpen may increase margin requirements up to 5 times their normal values without further notice starting with the market opening on August 17th, 2017. This may affect all traded financial instruments.
We are taking this measure to reduce your risk due to the potential high volatility, rapid price movements or market gaps that may occur in case of further political escalation. Please consider this information in your trading and ensure you have sufficient funds on your account to maintain your positions.
Best Regards,
FXOpen Trading Desk
https://www.fxopen.com/en/about-us/news/fxopen-increases-margin-by-5-times/
-------------------------------------
This margin requirement increase of 5 times means that instead of 1:3 leveraged trades, you will be allowed only 1:0.6 (leveraged? or what is called this?). I have asked their support is this true and they just said: "maybe"
I have also asked them to opt me out of that "risk protection" as they called.Trading fees increase 2 times to 1% for full-turn:
-------------------------------------
Dear Clients,
Please, note that starting from September 1, 2017 the half-turn commission for crypto accounts will be 0.5% of the transaction volume.
Please, consider this information when planning your trading activities.
https://www.fxopen.com/en/about-us/news/changes-to-trading-commission-on-crypto-accounts/
-------------------------------------
Is this trading fee increase also to blame USA Korea political tensions?!
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