This coming Tuesday, 15th January, the Brexit vote will be taking place at 19:00 UK time. UK Prime Minister Theresa May brings her Brexit deal to Parliament knowing that she faces almost certain defeat in a vote that could mean weeks of perilous political brinkmanship for Britain.
What should you do?
High volatility is expected to continue. We recommend you to reduce your exposure, especially on GBP pairs as well as FTSE 100 Index (UK100), closely monitor any open positions and ensure sufficient equity is available in your trading account.
We expect the British Pound and Euro to see plenty of volatility with the possibility of wider spreads and price gaps throughout this risk event. Presently we are pleased to confirm no changes will be made to ICM’s margin terms, however we need to request that accounts be fully collateralised ahead of this event.