Electronic trading major IG is changing the trading conditions for certain Forex instruments.

The situation in Ukraine and its global ramifications are fluid and fast-changing. The broker is continuously monitoring developments in financial markets and shifting legal and regulatory obligations worldwide.

In light of this, IG has decided to increase the margin rates on existing spread bet and CFD positions on all currency pairs which include the Russian ruble. This includes all positions in USD/RUB, EUR/RUB and RUB/JPY. Margin rates on these positions will change to 100% on Tuesday 1 March 2022 at 3pm (GMT).

Positions will be closed if there are insufficient funds available in traders’ accounts at this time and their position in RUB remains open. No new positions can currently be opened on these products.

IG reminds traders that increased volatility can amplify the risk of rapid or large losses. As the situation continues to develop, IG may take further steps in relation to products with direct or indirect exposure to Russia. Please be advised that this could include IG having to close client positions in currency pairs including RUB with limited or no notice.

IG may also limit positions or increase margin rates on other products.

Also today, IG announced it will increase margins on a set of Russia-exposed stocks.