Just like other forex broker firms, FXCM (NASDAQ:FXCM) decided to follow the trail of increasing its margin requirements just before the elections for a US president kicks off. The rates will escalate twice fold as reported on Wednesday. The EUR/USD, GBP/USD, USD/CAD and USD/JPY and other nine currencies will experience this surge in FXCM. This is to maintain its market fluctuation so as not to incur any unimaginable loss.
In line with the increment, the percentage increase of USD/MXN will rise to 10% from 4.6%. The USD/SEK and USD/NOK will also propel from 3% to 6% and 1.5% to 3% respectively.
This change will come into force on 4 November which will be on Friday at 5 PM EDT and will be applicable till normalcy in market rates resume.
It has been noted that the political arena has a great impact on the economy world in the United States of America. This even takes a turn for the worse during political campaigns since that is where forex bureaus and stock exchange markets have to adopt preventive measures to curb their major companies from going down the drain. This is a huge setback for those in business. The future of the financial sector of the USA has even been predicted stating the probabilities if either of the two contesting parties make it to the Whitehouse.
If Hillary Clinton takes the seat, remarkable results are going to be witnessed since she has the entrepreneurs’ interests in mind. She is going to advocate for business escalation in the region. She will put forward a fair playing field for all the business-oriented people and also reducing the unnecessary tax charges imposed on the Americans. It is clearly depicted form the speech she presents every now and then with a surety of better things to come if chosen by her supporters.
Donald Trump on the other hand; will totally cut ties from other countries which he has been reportedly mentioning in his manifesto to the people. He has even vowed to build a great wall to separate the country from immigrants and other countries which depend on them since he sees them as people oozing their resources to the last drop. This is not a good sign of moving forward to the people of America. The future of America’s economy all lies on the hands of the people since they are the ones to elect a leader who is wise enough to lead them to the promised land.
With 4 days to go before the Election Day, the market currency crisis is bound to be worse than ever. Following the ordeal, a lot of forex broker companies are saving their stitches before nine. They include: IG Group, Blackwell Global, Hantec Markets, Dukascopy, Vantage FX, Alpari, Saxo Bank, Capital Index and Octa FX.
FXCM has continued serving the US citizens and is one of the great broker companies. It is a registered company and has all the right to carry about its business on the US soil. It is authorised by US Commodity Futures Trading Commission as a Futures Commission Merchant and Retail Foreign Exchange Dealer. It has branches in the UK, US, Australia and France. The company serves the people with forex, CFDs and also betting purposes.