We are implementing a temporary restriction on trading in pairs with the Turkish lira (TRY) during the Turkish presidential election on Sunday, May 14, 2023.
As you might already know, the elections in Turkey are generating a lot of interest and tension, which is reflected in the currency market. Our analysts foresee an extremely high volatility of the Turkish lira during the election campaign, which can lead to increased spreads and negative consequences for our clients.
To prevent unnecessary risks and trading losses, between May 12-16, 2023, trading in TRY pairs will be limited and only open positions will be available to close. In case of continuing high volatility, restrictions may be extended.
We also reserve the right to change margin requirements for TRY pairs according to market conditions.
We strongly advise you to be very careful when trading TRY pairs and keep these temporary restrictions in mind until market conditions have stabilized.
Thank you for your understanding and good luck with your trades!