Urhobo Voice would like to inform you all forex traders that the outcome of the upcoming Italian General Election which will be held on Sunday, 4 March 2018, will be significantly important and may trigger abnormal forex market conditions, including but not limited to:
- Extreme market volatility
- Thin market liquidity
- Abnormal spreads
- Slippage on executed orders
Please note that as the Italian General elections are carried out during the weekend there is a high possibility for forex pricing gaps during the market opening on Monday, 5 March 2018.
Please Urhobo Voice also want you to be aware of the potential increased volatility during the opening trading session on that Monday, or even during the trading sessions before, which is very likely to affect EUR instruments.
In light of the above, all forex brokers may implement the following measures on aforementioned instruments on forex market opening or possibly prior to the market closure on Friday:
- Switch to Close-only mode
- Leverage adjustments
- Trading restrictions
Urhobo Voice strongly recommend that you to take the above risks into consideration when planning your forex trading strategy, and ensure that you have sufficient funds in your account to cover your open positions.
This also includes “hedged” positions which, in case of widened spreads, face the possibility of a Stop Out.
We would like also to remind you that, on ECN MT4, ECN Zero and ECN Pro, in the hour before the close of the forex trading session on Friday, the Stop Out and Margin Call levels are changed from 50% to 100% and from 80% to 130% respectively.
Please also be reminded that if positions are opened, closed, or modified on a Standard.MT4 or Cent.MT4 account in the hour before the trading session ends on Friday, the leverage will be switched to a maximum of up to 1:100 for all Forex currency pairs and spot metals. Before the beginning of the next trading session, the leverage will be reset based on the total volume of open positions on the account.
Should any more trading restrictions occur on your trading instruments, your forex broker will make every attempt to inform you via email or the MT4 platform on time.
If you have any questions, please don’t hesitate to contact us via email at email@example.com