New GBP/USD margin

[cate]

Hi @JamesIG,

I'm just finishing preparing my account for the new margin requirements, and making sure I've got enough in the account to cover my open orders. Can I ask about GBP/USD? 

Ever since Brexit uncertainty started it's had a higher margin requirement. So today a mini lot requires £100 to open it (which the info tab tells me is 1%, unlike the 0.5% on other major pairs). After the weekend will it just go to 3.33% like the other majors, or will it continue to have that extra margin on top because it's risky? At the moment I'm assuming the requirement will go from £100 to roughly £333 - is that correct?

Many thanks,

Cate

[Ludwik Chodzko-Zajko IG]

Afternoon @cate

For new positions yes, margin will be 3.33%. We won't add an additional risk premium specifically for GBP/USD (3.33% is high enough).

Any existing positions you hold will remain at their current margin rates.

 

 

[trade247]

sounds about right  

[cate]

Thanks very much, Ludwik!

[Ludwik Chodzko-Zajko IG]

@TrendFollower Yes, can confirm that's right. Only new positions are subject to the ESMA minimum rates, so any positions you currently hold will be unaffected.

 

[Guest avijet_2012]

@Ludwik Chodzko-Zajko IG

Hi Ludwik, 

How will the new margin required be displayed along with the old margin requirements ? Currently, I am looking at the top of the trading screen at the Equity Used (%). Is that the correct place to be looking at ?