The United Kingdom’s decision to leave the European Union on June 23 unleashed havoc on the financial markets, creating the biggest equities selloff on record. The so-called Brexit reared its ugly head again last week when the British pound plunged to fresh 31-year lows against the US dollar. With the British government seeking a “hard Brexit” from the EU, market participants are bracing for even greater levels of volatility.
British Prime Minister Theresa May announced earlier this month that she will invoke Article 50 of the Lisbon Treaty, which formally begins the Brexit process, by the end of March or early April.
“Let me be clear: We are not leaving the European Union only to give up control of immigration again. We are going to be a fully independent, sovereign country—a country that is no longer part of a political union with supranational institutions that can override national parliaments and courts,” the British leader said October 2.
In this environment, traders will be glad they had a feature like dealCancellation on their side. As the name suggests, dealCancellation allows traders to cancel a losing position within 60 minutes of placing it. For a small transparent fee, traders can enable dealCancellation protection on any position they take and cancel that position within 60 minutes for a full refund in the event of a loss. This gives traders the opportunity to enter the market without fear of letting a small mistake ruin their experience.
Whether you’re trading the British pound, the UK FTSE 100 index or any other financial asset tied to Britain, dealCancellation may help protect you against Brexit-induced volatility that is expected to become the norm the closer we get to March. Once the UK government invokes Article 50, there’s really no way of knowing how the market will respond. Article 50 will also give the UK and EU two years to finalize a new trade agreement. That’s two years of back-and-forth negotiations resulting in uncertain financial markets.
With dealCancellation, traders can simply focus on employing their trading strategy without fear of how the negotiation will impact their account. Additionally, dealCancellation is also intended to assist traders during volatile news events, such as US nonfarm payrolls, GDP and inflation reports and central bank statements. Analysts and policymakers are forecasting that British economic data will deteriorate next year, giving traders even more reason to treat carefully around economic news events.
Brexit carries with it huge risk for the United Kingdom and the rest of the EU. For traders, it’s a novel event with unknown consequences. A program like dealCancellation doesn’t come around too often. Now that it’s here, traders may consider using it to navigate around Britain’s shaky waters.
“dealCancellation© Option is an ORE patent pending under the patent “Easy Cancellation Option” application number 62334455.”
 Jenny Gross and Nicholas Winning (October 2, 2016). “U.K.’s Theresa May Pledges to Set EU Divorce in Motion by End of March.” The Wall Street Journal.