July 18, AtoZForex – As the world peace hit by the series of tragic events last week with shocking events in Nice and Turkey military coup attempt, AtoZForex’s deepest sympathies go out to Turkish and French people.
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 Dane Williams, for a comment on Vantage FX TRY trading restrictions after the drastic events.
Vantage FX TRY trading restrictions
We have got the following answer from the Market Analyst at Vantage FX, Dane Williams:
Following the attempted military coup in Turkey, Vantage FX’s risk management team once again didn’t want to take any unnecessary chances and has switched both USD/TRY and EUR/TRY currency pairs to ‘close only’.
The Turkish Lira (TRY) pairs aren’t some of the higher trading volume pairs for clients of Vantage FX, and other than a handful of specialised traders who we have been in contact with since Monday’s open, the majority of our book have been completely unaffected by the move.We are monitoring global events closely to see if there is any spill over across other forex markets, but at this stage, there seems to be a minimal effect in the broader sense, and as such, Vantage FX shouldn’t have any further needs to change trading conditions or increase margin requirements elsewhere.
Thank you for your time and input, Dane Williams. 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.
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!