We welcome with open arms the recent burst of customer trading activity, which is appreciated at all times.
However we have to state a fact of deterioration of all conditions we are provided with by our partners worldwide, and this is what forced us to review our own trading conditions in the aspect of economic reasonability, as well of the sustainability of the quality level with regards to our services.
As it deems reasonable to speed up the business as much as possible, we decided to declare force-majeure, in compliance with clause 11 of AML Customer Agreement.
Normal spreads on exotic FX pairs (USDCZK,..GBPZAR) are widened and brought inline with interbank levels, which have been widened globally during past weeks. Currency pairs USDPLN, EURPLN, USDMXP, GBPCZK, GBPNOK, GBPSEK, GBPZAR are placed into the ‘close only’ mode, which means that opening new positions is temporarily prohibited.
It is very much likely that our symbol list will be also edited in nearest terms so the most non-liquid tickers will be removed and/or replaced with more liquid ones. It seems also conceivable that Limit/Stop levels may be eventually widened in illiquid market conditions.
In general, there are no significant changes expected.
It is worth mentioning that world’s financial crisis brings us some unique trading opportunities arising from high volatility and diving markets. Financial authorities worldwide have implemented strict limitations for leveraged trading and short sales.
In the meantime, our trading conditions remain generally unchanged for all customers and we believe it will be the same in future. We would like to take this opportunity to thank you for your custom and wish you good surfing on the crisis wave.