FOREX.com Warns Against the Volatility of Turkish Lira

FOREX.com, the Japanese market leader in forex trading, has issued on Wednesday a warning against the volatility of Turkish Lira (TRY) due to political and economic reasons. Under certain circumstances, the liquidity may tumble.

The broker noted that if the market price changes suddenly, there exists a risk of loss more than the funds deposited by the customer with it. It, therefore, advises clients to exercise caution when trading EUR / TRY, USD / TRY and TRY / JPY, and plans to take the following measures to guard against risks:

• Put restrictions on transactions, including suspension of transactions

• ​Raise the required margin rate

FOREX.com is now part of StoneX Group, a diversified global brokerage and financial services firm. The acquisition deal was completed last July.

Further, in late November, Fazzaco reported that Darwinex, the social trading focused Retail FX and CFDs broker, announced that the trading on TRY pairs had been disabled until further notice. Also, FxPro​, a global retail FX and CFDs broker, has temporarily transferred trades on TRY pairs (USDTRY and EURTRY) to the close only mode.