OANDA Japan announces further restrictions for HKD trading
The brokerage suspends acceptance of new [buy] USD/HKD orders as of today.
Shortly after online trading company OANDA Japan unveiled its plans to increase margins for HKD pairs, the broker has announced more restrictions affecting trading in the Hong Kong dollar.
Let’s recall that, as per earlier announcements, the margin rate for HKD currency pairs will be increased from 5% to 10% from the start of trading on Monday, November 25th for both individuals and corporations.
Customers who hold HKD positions may incur losses due to changes in the margin rate if they continue to hold them after the market close on November 22, 2019. That is why, traders are advised to adjust their positions if necessary.
As of today, the following restrictions on the amount that can be held are set for HKD currency pairs:
- AUD / HKD 7,000,000
- CAD / HKD 6,000,000
- CHF / HKD 4,000,000
- EUR / HKD 4,000,000
- GBP / HKD 3,000,000
- HKD / JPY 35,000,000
- USD / HKD 5,000,000
- NZD / HKD 7,000,000
- SGD / HKD 6,000,000
Also, with regard to USD/HKD, the acceptance of new [buy] orders has been suspended as of today. New [sale] orders and buy position settlement are still allowed.
The changes affect only HKD trading via the NY server.
The changes reflect the continuing tensions in Hong Kong. The Transport Department today appealed to members of the public to pay attention to the traffic situation and the latest public transport service arrangement before starting their journey.
