USDTRY, EURTRY and GBPTRY to Close Only mode
Due to recent events in Turkey, currency volatility has reached extreme levels and taking into account the lack of available market liquidity and the devaluation of the currency, FP Markets expects there to be gaps and sporadic non-pricing which will have a negative effect on trade execution.
As part of FP Markets’ risk mitigation procedures, FP Markets will proceed with setting the TRY pairs to Close Only thus providing all clients with increased protection.
More specifically FP Markets will set USDTRY, EURTRY and GBPTRY to Close Only on both the account offerings, Standard and Raw.
Clients with open positions are still able to maintain their exposure but should be adequately prepared for the worst.
It will take effect Wednesday at 23:59 GMT+2, 22nd of December 2021.
For more information about the update, please contact FP Markets support team.