In the days leading up to the Turkish Constitutional Referendum, which will take place on Sunday, April 16, 2017, as well as in the days following the event may increased forex market volatility.
This is expected to affect USDTRY and EURTRY, with wider spreads expected on both instruments.
Nigeria News would like to inform forex raders that the margin requirements of these two instruments on all FxPro platforms will change as follows:
|USDTRY & EURTRY
||< 5 lots
||5 lots < 15 lots
The above change in forex market margin requirements will come into effect on Friday, April 14, 2017, at 09:00a.m. (GMT)) And will affect new positions only. Existing positions and other instruments will not be affected by this change.
While forex broker will make all possible efforts to keep the spreads at a minimum, please note that wider spreads are expected.
Prior to and in the aftermath of the referendum, your broker reserves the right to allow fixed spreads to float to reflect underlying forex market conditions.
In case of extreme volatility and illiquidity, many forex broker reserves the right to refuse the opening of new positions, enabling ‘Close only’ functionality.
Please note that, should forex market conditions deem it necessary, your broker reserves the right to make additional changes to trading conditions in the days prior to and after the Turkish Constitutional Referendum.
Nigeria News strongly advise you to monitor any open positions that you may have and visit the Nigeria News at https://nigerianews.info/forexnews/ frequently for any important updates.
We shall also be notifying you via email should you subscribe to our mailing list, should any other changes to the current margin requirements come into effect.