Retail FX broker FXOpen has sent a note to clients, indicating that the company is increasing margin requirements for clients trading or holding Russian Ruble forex pairs.
FXOpen said it is taking the step due to the uncertainty caused by possible sanctions against the Russian Federation. Margin requirements will increase by 5 (five) times their normal level, with the changes effective starting from Monday, April 5, 2021.
The company said that it will further inform clients as soon as margin requirements are back to their previous level.
There have been increasing calls in the western world for imposing sanctions on Russia, for everything from employing hackers targeting foreign governments and large institutions, to deploying assassins and other provocateurs abroad, while suppressing dissenters at home. Late last month Australia imposed targeted financial sanctions and travel bans against a Russian individual and four Russian companies which were connected to the construction and operation of the Kerch Strait Railway Bridge. The bridge links Russia to the (illegally) annexed territories of the Autonomous Republic of Crimea and the city of Sevastopol, Ukraine.