This Sunday, May 14, 2023, Turkey will hold presidential elections. Passions around this event are already heated to the limit and naturally this is reflected in the currency market, more precisely, in pairs with the Turkish lira, TRY. Our analysts expect an extreme increase in spreads and a very high volatility of the Turkish lira during the election season.

We do not want these events to negatively affect our clients and therefore, between May 12-16, 2023, trading in TRY pairs will be limited: only open positions will be available to close. If the volatility remains high, the restriction may be extended. This will help avoid unnecessary risks and trading losses.

Also, we reserve the right to change the margin requirements for Turkish lira pairs according to market conditions.

Please be aware of the restrictions and be careful when trading TRY pairs until market conditions stabilize.