Dukascopy Bank, regulated by the Swiss Financial Market Supervisory Authority FINMA and its EU regulated subsidiary announced today that due to possible risk of significant price gaps and low liquidity on Turkish lira (TRY) instruments, which may cause negative equity on client accounts, Dukascopy Bank and Dukascopy Europe are implementing a maximum leverage of 1:10 for EUR/TRY and USD/TRY exposures as of 27 July 2016 at 10:00 GMT.
Traders are invited to estimate their margin usage at the moment when the leverage reduction will be applied and adjust their exposure if needed.
For all accounts where there is no exposure in EUR/TRY and USD/TRY the lower maximum leverage will be applied today, 21 July 2016.
Other leading brokers to have taken action in reducing potential risk in TRY due to the political upheaval in the country include, ThinkMarkets and FxPro.