Alpari, a retail trading broker, announced this Friday that its users can no longer open positions in USD/TRY or EUR/TRY trades. The announcement comes amidst growing concerns over a brewing financial crisis in Turkey with the lira having lost 35 percent of its value against the US dollar thus far this year.

In its statement, Alpari noted simply that users on its ecn.mt4, pro.ecn.mt4, and ecn.mt5 accounts would only be able to close positions. The firm cited “economic instability” in Turkey as the reason behind its decision.

Finance Magnates reached out to an Alpari technical representative to get ... (read more)