eToro issues statement on USD/TRY fees
Online broker eToro has issued a notice to traders regarding the Turkish lira volatility which is impacting the cost of trading instruments linked to this currency.
eToro has issued the following statement:
“Due the exceptionally high volatility and significant short interest in the Turkish lira, we would like to inform you about the recent increase in fees regarding this asset.
In light of the current market conditions, we are diligently updating our costs to reflect the prevailing pricing provided by our trusted liquidity providers and the FX exchanges. This ensures that we maintain transparency and align ourselves with the market dynamics.
Rest assured, we’re actively monitoring the situation and exploring all available options to minimize the impact of this volatility.
Thank you for your understanding and cooperation during these challenging times”.
Let’s note that the run-off round of the Turkish presidential election was held on May 28, 2023 (Sunday). The outcome of the elections has triggered a spike in TRY volatility.