Monday, 02 November 2009 10:24
CFTC approved NFA amendments to Section 12 of NFA rule book, which requires FDMs to collect a margin deposit of 1% of the notional value of the positions held in the US dollar, British pound, the Swiss franc, the Canadian dollar, the Japanese yen, the Euro, the Australian dollar, the New Zealand dollar, the Swedish krona, the Norwegian krone, and the Danish krone and 4% of the notional value of other positions.
This simply means that you will be required to put up more margin to open a new position or hold on to an existing position based on currency pair.
FXCM forex broker will be adjusting client margin levels on Sunday November, 22nd. (The NFA requires FDMs to comply by November, 30th)
All accounts held with FXCM forex broker will be subject to the new margin requirements.
All new positions and orders established after November 22nd will be subject to the new margin requirements.
Additionally, open trades and active orders initiated prior to November 22nd will also be subject to the new margin requirements.
For more information, please visit FXCM forex broker
