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Some brokerages that are taking measures to prepare for the referendum on whether the U.K. is going to leave the European Union are forced to take measures which may prove to be unpopular with clients. Vantage FX has announced this morning in a client note, that the firm is going to put some pairs into “close only” mode of operation.
The referendum has caused many brokerages to dramatically reduce leverage with both market making and straight-through processing (STP) brokers affected. Liquidity providers have also increased their margin requirements in order to protect their own exposure to market risk.
In the case of Vantage FX ... (read more)