OANDA Securities, the Japanese unit of OANDA Corporation, has reported that the markets may see high volatility in the Turkish Lira in the near future due to the upcoming presidential elections in Turkey.
In the first round of voting, none of the candidates for the presidency of the Republic of Turkey were able to secure more than 50% of the votes. In this context, the second round of voting for the future leader of the country will be held on May 28.
Depending on the outcome of the election, there may be sudden price movements mainly in forex currency pairs with the Turkish Lira (TRY), but volatility may be observed in other markets as well, according to the OANDA Securities website.
The broker drew its users' attention to the high probability of spread widening and gapping between the order price and the execution price.
In addition, depending on market conditions, the execution of all or part of the order may take some time, or the transaction may not be completed.
OANDA Securities asks its clients to be especially cautious during these days of trading and position management.
Broker OANDA started operations in 1996 and has won awards for "Best Forex Trading Technology" from the UK Forex Awards, "Best Trading Platform" from FX Week, and "Best Client Service" from US Foreign Exchange.
