In light of the Turkish presidential election, FOREX.com warns about TRY rate fluctuations

FOREX.com Japan, a retail Forex and CFD broker, has issued a warning to its clients concerning potential market swings in the wake of the upcoming Turkish elections. Presidential and parliamentary elections are scheduled to take place in the Republic of Türkiye on May 14, with the market opening on May 15 anticipated to deviate significantly from the closing price on May 12.

As a result, sudden fluctuations in Forex rates, including the Turkish Lira (TRY), are also possible. For TRY pairs, spreads may widen for a certain period following the start of trading until the market stabilizes. During times of significant spread widening and liquidity decline, trades may be executed at unexpected prices. Additionally, market fluctuations may cause spreads to widen or result in temporary price delivery stops for other currency pairs.

FOREX.com is advising its customers to remain vigilant regarding the possibility of sudden fluctuations in swap points and market prices and to exercise prudence in managing their positions and funds. FOREX.com may also implement measures such as widening spreads, restricting positions, and increasing maintenance margin rates due to increased market volatility and decreased liquidity.

About FOREX.com

FOREX.com is a retail foreign exchange broker that provides trading services in foreign exchange (Forex) and other financial instruments such as contracts for difference (CFDs). The company was established in 2001 and has its headquarters in Bedminster, New Jersey, USA, and also operates through its subsidiaries in other regions, including FOREX.com Japan.

FOREX.com provides its clients with access to global financial markets through advanced trading platforms, offering a range of trading tools, educational resources, and market research. The company's trading platforms enable clients to trade Forex, CFDs, and other financial instruments, with features such as real-time quotes, charting tools, and analytical tools.

FOREX.com is regulated by several financial authorities, including the US Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA), and the Financial Conduct Authority (FCA) in the United Kingdom, ensuring that the company adheres to strict regulatory standards in its operations. WikiFX has given this broker a high score of 9.36/10.