The change in leverage is important information that needs to be considered before opening a position. This time, adjustments were made by OctaFX on the XAU and XAG instruments. Based on the announcement on its official website, starting May 13, 2019, the OctaFX broker changed the leverage amount on the XAU / USD (gold) and XAG / USD (silver) pairs. This change applies to Micro accounts. Previously, OctaFX restricted traders to trading at a specific leverage ratio of 1: 200 on XAU / USD and XAG / USD instruments, regardless of what leverage the trader used on his account. Currently, the platform settings have been changed and traders can freely adjust the leverage they use. To change the amount of leverage on precious metals, it can be done directly through the OctaFX account settings menu. Meanwhile, if you actually want to find high leverage forex brokers in the UK, then we recommend you to visit http://www.cnie.org/highleverage/high-leverage-forex-brokers-uk.html right away.
OctaFX Reminds Traders to Use Leverage Wisely
For traders who apply 1: 500 leverage, nothing will change, and the leverage for precious metals will remain 1: 200. Whereas traders who use less leverage on their accounts, leverage on XAU / USD and XAG / USD will be reduced proportionately:
– For 1: 200 leverage accounts, the leverage for trading precious metal instruments will be 1:80.
– For a 1: 100 leverage account, the leverage for trading precious metal instruments will be 1:40.
– For a 1:30 leveraged account, the leverage for trading precious metal instruments will be 1:12.
– And so on for the other leverage options.
The use of low leverage has the advantage that there is less risk of trading, but the trader must deposit a larger amount in order to meet the required lot size. In order to study the amount of leverage and the trading conditions offered, the OctaFX broker provides complete information on its official page.
That’s it for the info that we can share with you this time regarding the change of leverage for the precious metal in OctaFX. If you happen to be an old trader with old information, we hope this article saves you from making wrong calculations when you trade in precious metal with OctaFX.