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)|
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.