Dear Valued Customers,
Please be informed that the United Kingdom’s EU referendum shall be held on this coming 23 June 2016, consequences that affects the economic climate could be very depending on the progress of the referendum. Hence, all related market volatility could lead to a substantial of increased level. As a precautious response towards this coming event, IGOFX shall be taking the following procedures in order to secure your best interest:
- PRICE SLIPPAGE – SLIPPAGE of Price is expected to happens, as such, customer might not be able to execute StopLoss at the expected price position and our system shall try our best to execute the best possible price for our customer eventhough StopLoss could possibly occurs at undesirable rate than expected set in the order which is quote as [sl/gap] in your trade comment.
- TEMPORARY DISABLE OF SELL STOP & BUY STOP OPTIONS – All SELL STOP & BUY STOP functions will be disabled and deleted starts from 22 June 2016, the changes could remain until the market condition has been stabilized. In case of extreme volatility ‘Close Only’ functionality may be enforced.
- WIDER SPREAD – Such condition is expected including fixed spreads which may allow floating due to high spread received from the liquidity providers. However, IGOFX shall make all possible efforts to keep it at a minimum.
- NEGATIVE BALANCE OBSERVATION – If the Negative Balance is abused or done on purpose, balance will be transferred from the gaining account to offset the negative balance on the losing account.
*All the above mentioned actions shall be taken if the situation needed, IGOFX team shall keep close observation of the market condition to secure the best interest of all IGOFX customers.
IGOFX urges all valued customers to keep all active trading accounts with sufficient fund in advanced in order to maintain margin requirements for all floating trading positions. Failure of doing so could cause StopOut of all active trading positions and may lead to severe loss of investment. The coming event could work against you as well as for you. Before deciding to trade during this coming event you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
We encourage you to approach us should there be any concern rises.
With Best Regards,
IGO GLOBAL LIMITED