Axitrader made no announcements. So I contacted them. I can not open account under AU web site, I am warned to open account at Axitrader UK. Looking for a broker that has low GBPJPY spread. Please help.
AxiTrader Client Services AU
If you have a live account with AxiTrader UK, the announced changes will affect all Retail clients from 1st August 2018 and includes the following conditions:
AxiTrader Client Services AU
If you have a live account with AxiTrader UK, the announced changes will affect all Retail clients from 1st August 2018 and includes the following conditions:
- 30:1 maximum leverage for major currency pairs which are made up of two of the following six currencies: US dollar, Euro, Japanese yen, Pound sterling, Canadian dollar or Swiss Franc.
- 20:1 maximum leverage for non-major currency pairs (all currency pairs continuing one of the following six currencies US dollar, Euro, Japanese yen, Pound sterling, Canadian dollar or Swiss Franc).
- 20:1 maximum leverage for Gold and major equity indices, which are FTSE100, CAC40, DAX30, Dow30, S&P500, NASDAQ100, Nikkei 225, ASX200, EUROSTOXX50.
- 10:1 maximum leverage for commodities other than gold and non-major equity indices;
- 5:1 maximum leverage for individual equities and other reference values;
- 2:1 maximum leverage for cryptocurrencies;
- Auto margin close out for positions set to 50% of account value.
- Negative balance protection.
- Restriction of incentives offered to clients.
- Standardised risk warning.
Because these changes are aimed at Retail traders, if you wish to be exempted you can opt to be classified as a Professional trader, provided you satisfy certain criteria, in the near future. However, please be aware that being classified as a Professional means you will forfeit some protections that presently cover Retail traders.