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FXCM hikes margins for select currency pairs ahead of US elections
Leading forex broker FXCM joined the growing group of brokers temporarily raising margin requirements ahead of upcoming US presidential elections. On Wednesday FXCM announced that margins for EUR/USD, USD/JPY, GBP/USD and USD/CAD, plus nine other crosses will be increased from 1% to 2% in anticipation of high market volatility. Furthermore, the margin requirement on USD/MXN will increase from 4.6% to 10%, the USD/SEK requirement will double from 3% to 6%, while that of USD/NOK will rise from 1.5% to 3%. The new leverage levels will come into effect on Friday, November 4, after 5 PM EDT (2100 GMT), and will last until ... (full story)