US Election Shocks the Markets, easyMarkets Trading Conditions Stay Firm
11 November 2016
US voters delivered a surprising result making Donald Trump the 45th President of the United States of America. The markets, which were expecting a Clinton victory, reacted sharply losing billions of dollars in just a few hours.
The ASX 200 slumped almost 4% before pulling back to finish 1.9% lower. The Nikkei fell 5.8%, Hang Seng in Hong Kong dropped 3.5%. US stock futures posted more and more losses as the electoral count came in with the S&P 500 down 4.6%, and the Dow falling 5% - hitting their limit threshold – the last time this happened was during the Brexit referendum.
While many traders choose to sit out market-volatile events like the election, others look to take advantage of the opportunities on offer. To these traders easyMarkets made a commitment of keeping their trading conditions consistent to what they offer year-round
- No slippage
- Fixed Spreads
- Fixed leverage
- Guaranteed Stop loss
- Negative balance protection
easyMarkets is proud to say that it kept its word and corrected all negative balances. As CEO, Nikos Antoniades says, “Traders come to us to benefit from trading the markets. When the markets offer up such opportunities, we should not penalize them by changing our trading conditions. This is our commitment to our traders – what we promise does not change”.
Many traders on the easyMarkets platform chose to hedge their deals with dealCancellation – the company’s latest risk management tool. dealCancellation* allows traders to cancel losing deals up to 60 minutes from opening and have their invested margin returned to their account. Nicolas Shamtanis, Chief Client Relationships Officer confirmed, “A number of traders used dealCancellation to save them from losses. One client was able to pull back on a $9,500 possible loss when he made a wrong prediction on the direction of the S&P 500 index”.
Markets are expected to remain rocky for the next days and weeks as the new President settles in.