Brokers News

Turkish Local Elections

Next Sunday, 31/03/2019, Turkey will hold local elections in order to elect its local representatives.

As a result the following restrictions were applied from 27/03/2019 at 17:00 GMT+2:

– TRY Forex pairs were changed to “close only” mode;

– Swap values were increased ( EURTRY Long -8230.0000 / Short 5079.0000 and USDTRY Long -7135.0000 / Short 3521.0000)

IMPACT

The event is expected to cause significant volatility in the financial markets;

FxPro makes all possible efforts to keep spreads at a minimum, even though wider spreads are to be expected;

In case of extreme volatility and illiquidity, FxPro reserves the right to refuse the opening of new positions, enabling ‘Close Only’ functionality;

Should market conditions deem it necessary, FxPro reserves the right to make additional changes to the trading conditions prior to and after the Turkish Elections;

FxPro reserves the right to allow fixed spreads to float prior to and in the aftermath of the Turkish Elections so as to reflect underlying market conditions.

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