Please note that we will switch all TRY forex pairs to a close-only mode which means that you will retain any open trades but will not be able to place new orders on the respective instruments. This change is temporary and will take effect in the afternoon today (08/05/2020). It will remain valid until further notice. For more details, please refer to the Contract specifications on our website that will be updated accordingly.
We decided to take such a measure following yesterday’s sharp devaluation of the Turkish Lira caused by the transactions ban imposed by the Turkish financial supervisory authority BDDK on BNP Paribas, Citibank and UBS as they were unable to fulfil TRY liabilities in due time.
In such conditions, our top priority is to help you protect your funds against possible high market volatility due to the uncertainty in the markets. You may rest assured that we are in constant talks with our liquidity providers to maintain pricing where possible.
JFD reserves the right under the Force Majeure clause in the Client Agreement if deemed necessary, to increase the required margin for trading TRY pairs to 20% with immediate effect as of today.
Should you have any questions, our friendly, multilingual Client Service is ready to assist you 24/5.