20 July, AtoZForex – Last Friday, the world witnessed a tragic event when a military coup attempt occurred in Turkey. The night of violence has taken the lives of 290 persons, whereas the number of wounded is estimated at 1,400. Despite the horrifying news, there is always the flip side of the coin. Considering that 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. Whereafter, USDTRY soared by 5% on Friday night, hitting the highest level since January 2016.
Following the 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 Attempt? Therefore, AtoZForex has reached out to Lochlan White, for a comment on Invast TRY risk management practices.
Invast TRY risk management practices
We have received the following comments on behalf of Invast Global:
“Invast has many friends and partners in Turkey and we are monitoring the situation there primarily out of concern for their welfare. We also have in place a formal Risk Review process which is monitoring business risks and exposures constantly.
Our Risk team does not believe the situation at present warrants a change to account conditions for our Turkish clients, nor a change to conditions related to trading TRY-related pairs. We are a very prudent company when it comes to assessing the risks affecting our business, but we also know that it is extremely important to our clients that their account conditions remain as stable as possible. We will continue to monitor the situation in Turkey and will continue to communicate closely with our clients to ensure, as far as possible, that their account conditions remain unchanged.”
Thank you for your time and input, Lochlan White. Despite the tragic news, AtoZForex has been on top of the developments and reports about the market through the LIVE Turkey coup impact post. In addition, check what other brokers have commented on their risk management precautions and measures after the failed Turkey coup on this list.
If your broker is not on the list? Contact AtoZForex editor team now!