During a news window, and over the weekend, maximum leverage is temporarily limited to 5x. The platform applies the limit automatically when the window opens and lifts it when the window closes. It isn't a trading ban: you can keep trading up to 5x, and there's no breach and no removal of profit. But orders with higher leverage are canceled, and positions with higher leverage may be reduced or closed. This page explains the news and weekend windows, which markets are affected and what happens to your orders and positions, with worked examples.
How it works
The limits apply to evaluations, funded accounts and Live accounts.
During a window, the maximum leverage on affected markets is 5x.
You can still open or add to positions, up to 5x.
Normal leverage resumes automatically when the window ends.
For news windows, the dashboard shows upcoming events with a countdown, and a warning 15 minutes before each window opens, so you can reduce positions at a price you choose.
News windows
Event | Window |
High-impact economic event | 10 minutes before to 10 minutes after the scheduled release |
Company earnings, exact time | 30 minutes before to 30 minutes after the release time |
Company earnings, "before market open" | 05:30 to 09:30 US Eastern time on the release day |
Company earnings, "after market close" | 15:30 to 17:30 US Eastern time on the release day |
High-impact events are those marked red folder on the ForexFactory economic calendar. Earnings release times are those shown on the platform's earnings calendar. If a company changes its release date or time, the calendar updates and the window moves with it.
Which events and markets are affected
Event | What's limited to 5x |
US high-impact events, including FOMC, CPI, PPI, Non-Farm Payrolls, GDP, Retail Sales and PCE | All markets. Total account exposure is also limited to 5x for the window. |
Non-US high-impact events, including ECB, BOE, BOJ and other central bank decisions | FX pairs that include that currency |
Company earnings | That company's stock perp |
No FX pairs are offered at launch, so non-US events currently have no effect.
Markets whose normal maximum is below 5x keep their lower limit throughout. If a stock's normal maximum is 5x or lower, its earnings window doesn't change the leverage you can use on it. See "Markets and leverage" for each instrument's maximum.
The weekend leverage limit
When: from 16:45 US Eastern time on Friday until the market reopens after the weekend. For markets that trade through the weekend, such as crypto, the limit ends when the other markets reopen.
Which markets: all markets are limited to 5x, and total account exposure is limited to 5x.
Holidays: the limit applies at weekends only, not on market holidays.
Orders and positions: handled in the same way as in a news window, as explained below.
To avoid an automatic reduction, reduce or close positions above 5x before 16:45 US Eastern time on Friday.
Orders during a window
Limit orders above 5.1x (more than 2% above 5x) are canceled when the window opens.
Reduce-only orders stay open, unless the position they belong to is reduced or closed. Then all that position's limit orders are canceled, reduce-only orders included.
Take profit and stop loss orders stay active. A fixed-size order larger than the remaining position shrinks to the position's new size and doesn't grow back.
Open positions during a window
When the window opens, the platform checks each position on the affected markets:
At or below 5x, or within 2% of 5x: not affected.
Above that, with enough funds: if your account is not in drawdown, meaning your account equity isn't below your initial account balance, and it has enough funds to cover the margin all its positions need at 5x, no positions are reduced. Funds are your available balance plus the margin in open positions and orders, minus any net unrealized loss. A net unrealized profit doesn't count.
Otherwise, reduced: positions more than 2% above 5x are reduced to 5x. Each keeps its margin, and its size shrinks in proportion. The fee and any loss on the reduced part are paid from the position's margin.
Closed in full: if your account equity is more than 1% below your initial account balance, positions more than 2% above 5x are closed in full instead of reduced.
After the window
Normal leverage resumes automatically.
Canceled orders aren't restored, and reduced positions keep their new size.
Reductions and closes are labeled "News leverage limit" in your trade history.
Worked examples
All examples use a $25K account, so the initial account balance is $25,000, and a US CPI release at 08:30 US Eastern time. The window runs from 08:20 to 08:40, and the dashboard warns you at 08:05.
A position within 2% of 5x. You hold a position at 5.08x. It's within 2% of 5x, so it isn't affected.
Orders. You have a limit order to open a position at 10x, a reduce-only order on an existing position and a stop loss. At 08:20 the 10x limit order is canceled. The reduce-only order and the stop loss stay active, unless the position they belong to is reduced or closed.
Not in drawdown, with enough funds. Your balance is $25,600. You hold one SP500 position at 20x: $3,000 of margin for $60,000 of notional value, with an open loss of $500. Your available balance is $22,600. Your account equity, $25,100, isn't below $25,000, so it's not in drawdown. Your funds are $22,600 + $3,000 − $500 = $25,100. At 5x, the position needs $60,000 ÷ 5 = $12,000 of margin. Your funds cover it, so the position isn't reduced.
Not enough funds, so reduced. Your balance is $25,600. You hold one SP500 position at 20x: $7,500 of margin for $150,000 of notional value, with an open loss of $500. Your available balance is $18,100. Your funds are $18,100 + $7,500 − $500 = $25,100. At 5x, the position needs $150,000 ÷ 5 = $30,000 of margin, which your funds don't cover. The position is reduced to 5x. It keeps its $7,500 of margin, and its notional value falls to $37,500, a quarter of its original size. The fee and any loss on the reduced $112,500 are paid from the position's margin.
In drawdown, so reduced. Your balance is $24,950 and you hold the $60,000 SP500 position from the "Not in drawdown" example, with an open loss of $50. Your account equity, $24,900, is below $25,000, so it's in drawdown. Even if your funds would cover the margin at 5x, the position is reduced to 5x. It isn't more than 1% below $25,000, so the position is reduced, not closed.
Closed in full. Your balance is $24,900 and you hold the same position, with an open loss of $300. Your account equity is $24,600. That's more than 1% below your $25,000 initial account balance (the threshold is $24,750), so the position is closed in full instead of reduced.
Total exposure. Because CPI is a US high-impact event, your total account exposure is also limited to 5x until 08:40.
Weekend. On Friday afternoon you hold a Gold position at 10x. At 16:45 US Eastern time the weekend limit starts. Any limit orders above 5.1x are canceled. If your account isn't in drawdown and your funds cover the margin all your positions need at 5x, nothing is reduced. Otherwise the position is reduced to 5x, or closed in full if your account equity is more than 1% below your initial account balance. Normal leverage returns when the market reopens.
Earnings before market open. A company says it will report before market open. Its stock perp is limited to 5x from 05:30 to 09:30 US Eastern time on the release day.