Another risky weekend is coming up with the Greek referendum and the brokers are raising margins
IG index has sent out a note to clients informing them that they will be raising margins on into the weekend
"If the referendum goes ahead, there is the unprecedented risk of a large market move, or 'gap', over the weekend.In light of this, if the referendum is still scheduled to occur as at 4pm on Friday 3 July 2015, we will increase our margins from 4pm this Friday (3 July 2015) until 11pm on Sunday (5 July 2015)"
They are raising margins on European, UK and US indices
I've also been having a chat to one of our readers who had a problem with Monday's gap. He was short EURUSD into the weekend and had a TP at 1.1100. When the market gapped down to 1.1040 odd he received a fill at his take profit level instead of the opening price. Naturally he wasn't best pleased but fortunately the broker Tickmill (formerly Amada Markets) amended the fill to reflect the better price. Obviously it would have been nice if the broker had filled the trade correctly in the first place but they came good in the end. We will be quick to nail a broker when they perform badly so it's only fair to give them a thumbs up when they fix an issue
So that's one happy customer at least. Let us know how your broker behaved over the gap. Did you get filled appropriately or were there some shady shenanigans?
It's also an apt time to remind you that we have our own list of Forex brokers at the top of the site
