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ESMA Intervention
- What is ESMA?Page issue
ESMA is an independent Authority of the European Union, which contributes to keeping the EU financial system stable by enhancing the protection of investors and promoting stable and ordered financial markets.
- What are ESMA’s new requirements? Page issue
ESMA’s new requirements consist of reducing available leverage limitations for Retail clients of financial organizations. New limitations depend on the volatility of an underlying asset and are the following:
Major Currency pairs - up to 1:30.
Non-major Currency pairs, Gold, major Indices - up to 1:20.
Commodities, other than Gold, non-major Indices - up to 1:10.
Other individual assets - up to 1:5.Apart from the changes of the leverage limitations, financial organizations will be obliged to provide on a per account basis Margin Call and Stop Our features, on a per account basis Negative balance protection, and implement the standardized risk warning.
- When will these new requirements take effect?Page issue
ESMA’s new requirements will take effect on August 1st 2018.
- Which category of clients fall under new requirements?Page issue
New requirements are applicable only to Retail clients. For the "Professional Client" category, all the conditions and limitations remain the same.
Read also: How to become a Professional client?
- Clients from which countries fall under new requirements?Page issue
New requirements apply to all Retail clients regardless of their country of residence.
- What will happen with my open positions after the new limitations take effect?Page issue
New leverage limitations won’t be applied automatically to open positions, and their margin requirements will remain the same until you close them.
- Can I keep the current leverage?Page issue
Only the clients who have been qualified as "Professional clients" can keep the current trading conditions.
RoboMarkets provides its clients with an opportunity to undergo a "re-categorization" procedure and be qualified as "Professional" instead of "Retail". You can read more about re-categorization conditions on "How to become a Professional client?" page of our website.
- Will I be able to continue trading on my accounts after the re-categorization?Page issue
Yes, you will be able to continue trading on any of your open accounts.
- Are there any time limitations to passing the re-categorization?Page issue
No, the Company doesn’t apply any time limitations to passing the procedure. The possibility to change the category from "Retail" to "Professional" clients is not linked to the implementation of the ESMA’s new requirements.
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