July 18, AtoZForex - Following the tragic events of a military coup attempt in Turkey, which resulted in over 1000 injured and at least 290 dead, AtoZForex is saddened with shocking news and expresses the solidarity to Turkey.
There is always the flip side of the coin, as this type of news affects the market currencies fluctuations, especially for USDTRY. On the night of the tragic event, Turkish residents flooded the ATMs with fear. Meanwhile, USDTRY soared by 5% on Friday night, hitting the highest level since January 2016.
Following the horrid military coup attempt in Turkey of last Friday, many of our readers have inquired us which broker is secure to trade with or has TRY trading restrictions after Turkey Military Coup Attempts. Therefore, AtoZForex has reached out to Drosoula Hadjisavva, for a comment on IronFX TRY trading restrictions after the drastic events.
IronFX TRY trading restrictions
According to the Head of Marketing at IronFX, Drosoula Hadjisavva, IronFX TRY trading restrictions will include the following:
In an attempt to protect clients and minimize the impact from potential abnormal market conditions following the coup attempt in Turkey the IronFX risk management has decided to temporarily increase margin requirements on TRY pairs by 3X.
We have formally cautioned our clients of the increased risks on TRY pairs for possible sharp moves, significant price gaps abnormally high spreads. IronFX risk management will be monitoring the situation in Turkey as it evolves and we will be reverting to normal trading conditions once this improves.
Thank you for your time and input, Drosoula Hadjisavva . Despite the tragic news, AtoZForex has been on top of the developments and reported the brokers’ precautions after the Turkey coup attempt.
More information will follow…
AtoZForex’s investigation into the Turkey Coup Risk Management precautions of other brokers continues. As we’re still contacting other brokers to get you the information you need to be able to trade safely and securely. Check if your broker has already disclosed their risk management precautions on this list. If not, then immediately contact your broker for an update on what their precautions are.
See also: Will Greece grant Asylum to Turkey Military Coup pilots?
Are they planning to limit TRY pairs’ new entries? Will they put TRY pairs to close only and what about any leverage change?
If your broker is not on the list? Contact AtoZForex editor team now!