Deposit cash before Brexit vote, stockbrokers tell clients

Starting margin on trading the pound will increase to 1 per cent

29th May, 2016
Business have been advised to start lodging money if they want to trade in sterling over the coming months Pic: iStock

Stockbrokers have started to advise clients to deposit more money in their accounts if they want to trade sterling in the run-up to Britain’s vote on European Union membership next month.

IG Group, which has about 50 per cent of all spread trading accounts in Ireland, has notified clients that from June 10, the starting margin on trading the pound against other currencies and on movements on London’s FTSE 100 index will increase...

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