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    Renesource Capital

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    Temporary margin rate increase for Turkish lira (TRY) currency pairs

    Dear Customers!
     
    Please be informed that due to upcoming Turkish General Election (Presidential Election and Parliamentary Election) which are scheduled to occur on 24 June 2018, we are increasing margin requirements for the following currency pairs on June 21st, 2018 at 12:00 Riga time (09:00 GMT):

    Currency pair

    Current Margin rate

    New Margin rate

    EURTRY

    5%

    10%

    GBPTRY

    5%

    10%

    TRYJPY

    5%

    10%

    USDTRY

    5%

    10%


    High volatility on Turkish lira (TRY) currency pairs may result in significant price gaps, widened spreads and slippages, which may cause negative equity on client accounts (negative balance). It is strongly advised that Clients maintain appropriate and sufficient amount of margin on their trading accounts at all times. Volatility can trigger Margin Call and following Stop Out (Stop Loss) orders on your trading account. We recommend that Clients use Stop orders to limit risks.

    Furthermore, we would like to note that the above mentioned risk management measures to manage specific event risk will have a short-term nature and are a subject to normalization after reduction of the geopolitical tension (when volatility indicators in currency markets will stabilize), margin rates will be reviewed.

    Events mentioned above may create market conditions where orders are difficult to execute and execution price of the order received strongly differs from the selected or quoted price due to market movement. Renesource Capital does not offer a negative balance protection thereby Clients can lose more than they have invested (Agreement Ref. Num. A.I.22, D.I.8 and D.I.10).

    If you have any questions, please contact your Account Manager or email us at forex@renesource.com.

     

    We appreciate your understanding,

    Kindest regards,

    Renesource Capital



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