OANDA Japan prepares to relax margin requirements for several currency pairs
Online trading company OANDA Japan is planning to change margin requirements for several currency pairs, with the changes to affect fxTrade (NY server) and OANDA Japan FX (Tokyo server) corporate accounts.
In an announcement to its clients, the Japanese broker said that the changes will be effective October 12, 2020.
For fxTrade (NY server) accounts, the new margin for AUD/JPY, NZD/JPY, GBP/USD, NZD/USD, AUD/USD, EUR/AUD, EUR/NZD and USD/SEK will be 2%. This compares to the previous requirement of 3%. For EUR/NOK and USD/NOK, the margin will be reduced from 4% to 3%.
For OANDA Japan FX (Tokyo server) accounts, the margin rates for AUD/JPY, NZD/JPY, GBP/USD, NZD/USD, AUD/USD, and EUR/AUD will be reduced from 3% to 2%.
The broker warns that even after this change, the margin rate may be revised again depending on the market situation. OANDA recommends that traders continue to have sufficient funds in their accounts.
Let’s note that OANDA Japan has been revising the margin requirements for FX instruments quite often over the past several months. In August, for instance, the margin rate for GBP/SGD and NZD/SGD were cut from 3% to 2%.