Cyprus Bailout – How will it affect Forex Traders?

There are strong rumors this morning that all clients of Cyprus based forex brokers will face a “haircut” from the forex trading accounts.

Original reports suggested the following:

• For accounts up to 25,000 will be charged a 6.5% levy 

Latest suggestions imply that:

• For accounts that hold less than 100,000 will be charged a 3% levy

For accounts that are above 100,000, original reports suggested:

• For accounts over 100,000 will be charged a 9.9% levy 

Today, reports are suggesting the following:

• Accounts over 100,000 will be charged a 12.5% levy

Whilst the reports are currently speculative and until the cabinet meets and a formal announcement at 14:00 GMT (estimated), many forex traders are scrambling to withdraw funds from their trading accounts held at CySec regulated forex brokers.

Yadix is regulated outside of the Cyprus and the EU and implements with extra-ordinary fund protection in place to fully protect clients funds at all times.