Broker Cluj enters forex market

Broker Cluj will be the first brokerage company to offer its clients the opportunity to conduct forward transactions on the exchange rate on the interbank market. Broker will soon select two banks it will be working with. The clients of the brokerage firm will be able to conduct transactions on the following exchange rates: EUR/RON, USD/RON, EUR/USD and GBP/USD. Investors who will want to bet on the rate will have to submit a 5% margin for transactions with a maturity of up to 30 days and 10% for transactions with a maturity of 30 to 90 days. Broker Cluj will offer its clients quotes after which it will go to the interbank market to adjust its position. Margin trading can involve bigger gains than traditional investments due to the fact that a smaller amount of money (the margin) is immobilised to make that investment, but losses can be bigger, as well. “We have taken into account the fact that there are both individuals and legal entities who are interested in conducting forward transactions on the exchange rate, but are discouraged by the minimum capital limit of over 100,000 euros that banks which have such products require,” stated Petru Prunea, chairman of SSIF Broker Cluj. ZF