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Coup in Turkey and Forex brokers

created Paweł MosionekJuly 18 2016

An attempted coup in Turkey was made on Friday evening, and as it turned out later - ineffective. Financial markets still had time to react before the weekend close. Of course, the most spectacular moves took place on the Turkish lira, which weakened against the euro by as much as 1700 pips in less than two hours.

EURTRYH1

The situation has already normalized, however, TRY pairs still need to be treated as higher-risk instruments. Therefore, some brokers have decided to significantly reduce the leverage on instruments related to the lira and even stop trading. FxPro decided to take such a step and now it only allows to close open positions with TRY in the symbol. We recommend careful and thoughtful investments in instruments related to countries with unstable economic and political situation.

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Traders Union: Best Low Spread Forex Brokers, fxpro, Turkey, coup, Turkish lira, forex turkey, Coup in Turkey, forex lira

About the Author

Paweł Mosionek

Active trader on the Forex market since 2006. Editor of the Forex Nawigator portal and editor-in-chief and co-creator of the ForexClub.pl website. Speaker at the "Focus on Forex" conference at the Warsaw School of Economics, "NetVision" at the Gdańsk University of Technology and "Financial Intelligence" at the University of Gdańsk. Two-time winner of "Junior Trader" - an investment game for students organized by DM XTB. Addicted to travel, motorbikes and skydiving.

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