The popular international broker, Admiral Markets announced to its clients yesterday that it will reinstate commissions for online equity trades following the trading frenzy around stocks like GameStop and AMC Theaters. The broker was one of many who implemented trading restrictions and raised margin requirements for such equities products during the unprecedented price action almost 2 weeks ago.
Admiral stated that the “zero-fee trading offer in the segment of Stock CFDs and ETF CFDs will be discontinued on 15 February 2021. Starting from this day and going forward, every transaction in these instruments will be subject to a transaction fee as outlined below. Fees will apply to both new and old positions, including those opened prior to 15 February.”
Furthermore, the broker indicated that leverage rates will change for each “particular stock CFD and ETF CFD to reflect liquidity conditions of the underlying security and market capitalization of the underlying stock issuer or assets under management (“AuM”) for ETFs.”