{{ "2017-01-30 09:00:00Z" | moment:{inputFormat: 'YYYY-MM-DD HH:mm:ssZ'} }}

Margin rate changes for Turkish Lira (TRY) crosses

Saxo will increase the margin requirements for TRY currency crosses on Thursday 2nd February 2017 at 13:00 GMT to 8%. We will also introduce a maximum exposure of USD 5,000,000.

For customers on tiered margin, requirements for trading TRY will be raised to:

Tier Margin Rate % Lower Bound (USD)
1 8 0
2 8 1000000
3 15 3000000
4 15 5000000
5 20 10000000
6 100 25000000
7 100 50000000

Saxo is taking this action due to the continuous devaluation of the TRY over the last two years and the continuation of elevated volatility in TRY pairs which have continued into 2017.