A ForexLive public service announcement
Just a timely heads up for all GBP traders. IG has announced that they will be increasing their margins on FTSE and GBP instruments June 10th and again June 17th and June 22nd.
We know that volatility will be increasing so expect many other brokers UK and non-UK to do the same in the run up to the June 23rd vote. Be mindful also that the hours surrounding the vote could see markets very choppy and the biggest impact is likely to be spreads blowing up.
The SNB day is still pretty fresh in the minds of many brokers and although positioning may not be as one sided as before that event, there is still some scope for wild moves and liquidity pot holes, so expect brokers to act accordingly.
Please make sure that if you're trading anything surround UK markets you make sure you have appropriate coverage and control of your trades.
h/t LABC in the comments for the heads up about IG
