FirewoodFX announces crucial adjustments to trading conditions for EUR pairs. The changes announced include margin requirements, spreads, leverage, and order types to respond to extreme market volatility caused by the Greek crisis. Apart from that, FirewoodFX also advises clients to be careful when releasing NFP data tonight.

FirewoodFX has reported several changes on their official website since last weekend. On June 26, 2015, this broker announced an increase in margin requirements by 400% in EUR cross pairs to deal with the Greek crisis. FirewoodFX then followed up on the news by warning about additional adjustments that may be in place throughout the week.

The broker declared a return to normal conditions the day after announcing the warning above. This situation only lasted a moment because FirewoodFX reactivated the warning for clients trading with EUR pairs. This is related to the default confirmation from the IMF regarding Greek's failure to pay 1.6 billion Euros when the time was due. Anticipation of the Greek referendum, which will be held to determine the government's next steps, still surrounds the market in uncertainty.

Latest Condition Changes Apply Over This Weekend

This afternoon, FirewoodFX finally officially released the details of the adjustments that will take effect starting July 3, exactly 12 hours before the market closes for the day. Changes in conditions that FirewoodFX will implement are:

• Increased margin requirements
• Change of spread type from fixed to floating
• Leverage reduction for high-risk trading accounts
• Order type restriction to "close only"

Unlike previous announcements, this condition also applies to EUR/USD major pairs. However, the FirewoodFX Indonesia broker also revealed that this condition will only apply until the market opening next week, regardless of the market conditions after the turmoil of the Greek crisis.

This broker is indeed quick to respond in responding to abnormal market conditions. In the SNB incident in early 2015, FirewoodFX also actively announced the latest updates regarding the specifications for CHF trading pairs.