Formax changes leverage to prepare for the upcoming volatility by French Election this Sunday.
Formax - What's now?
We regret to inform you that with effect from 12.00pm on 11th December 2018 Formax Prime Capital (UK) Ltd has decided to temporarily cease offering clients the ability to trade FX.
Accordingly, they will not be accepting any new clients until further notice. If you are already a client of Formax Prime you will receive client communications from them directly.
Please note that due to French Election this weekend, Formax will update the margin requirements of certain MT4 symbols by the end of this weekend.
The change is only a temporary measure, and the normal conditions will be resumed next week upon further announcement by Formax.
For the details of changed conditions, please find the below table.
|Affected Currency||New Margin requirements|
|Forex pairs||EURUSD||Normal rate * 2|
Please view the latest margin requirements table below for the list of affected symbols. You can also monitor margin rates in the platform or on your online back office.
Please note that margin requirement this time will affect every customer, and potentially would cause orders to stop out if no risk management action has been taken.
☆Furthermore, please be advised that there is an increased probability of wider spreads due to thin liquidity in the market. Ensure you have adequate funds in your account leading up to and during the election. This includes all “hedged” positions as if spreads widen, there is high possibility that will stop out positions.
For more information, please contact Formax support team.