Brokerage company IG has warned its clients about possible market fluctuations due to the upcoming presidential and parliamentary elections in Turkey.
Turkey will hold presidential and parliamentary elections on Sunday, May 14.
The Turkish elections are expected to have a strong impact on the Turkish Lira exchange rate and lead to an increase in volatility in the Forex market on May 15, according to the IG website.
The market opening rate on Monday could be very different from the closing rate on Friday.
The broker draws attention to the fact that it may not be able to provide its clients with trading rates for currency pairs with the Turkish Lira due to the lack of liquidity in financial institutions, as well as online trading and a number of other services.
Also, IG will take all measures to maintain the normal spread as much as possible, but depending on the market situation, it may be widened. At the same time, if the rate of supporting margin (effective margin balance / supporting margin) becomes low, the probability of compulsory reduction of losses will increase.
The broker asks to consider all the risks associated with trading the Turkish Lira on Monday and to exercise extra caution in order to avoid losses.
Earlier, we reported that IG had introduced a new financial calendar.
Broker IG Markets was founded in 1974 and is a structural unit of IG Group Corporation. The main activity of the company is the provision of services on trading of derivative financial instruments (CFDs).
