Best Forex Brokers Turkey for 2022
Trading forex (currencies) in Turkey is popular among residents. While recommended, forex brokers are not required to become authorised by the Capital Markets Board of Turkey (CMB) to accept residents of Turkey as customers.
The CMB was formed in 1982 and is responsible for watching over the financial market, consumer protections, and supervising participants in the stock market. For a historical breakdown, here's a link to the Capital Markets Board of Turkey webpage on Wikipedia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best Forex Brokers Turkey
To find the best forex brokers in Turkey, we created a list of all brokers that list Turkey as a country they accept new customers from. We then ranked brokers by their Overall ranking.
Here is our list of the best forex brokers in Turkey.
- Saxo Bank - Best web-based trading platform
- Admiral Markets - Great for MetaTrader
- IC Markets - Best MetaTrader broker overall
- XM Group - Good for algo trading
Turkey Forex Brokers Comparison
Compare Turkey authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers.com Overall ranking.
|Company||Accepts TR Residents||Average Spread EUR/USD - Standard||Minimum Initial Deposit||Overall Rating||Visit Site|
|IG||0.828 (September 2021)||£250.00||
|Saxo Bank||0.8 (August 2020)||$2,000|
|Interactive Brokers||0.6 (August 2022)||$0||
|FOREX.com||1.1 (US August 2021)||$100||
|Admiral Markets||0.8 (July 2021)||$100|
|IC Markets||0.62 (August 2021)||$200|
|XM Group||1.6 (Aug 2020)||$5|
|FP Markets||1.2 (August 2022)||$100 AUD|
|Tickmill||0.27 (September 2021)||$100|
|HYCM (Henyep)||0.6 (Sept 2021)||$100|
|HFM||1.2 (August 2021)||$5|
|Vantage||1.22 (August 2021)||$200|
|Moneta Markets||1.22 (August 2021)||$50|
|BlackBull Markets||0.845 (October, 2021)||$50|
|ACY Securities||1.2 (Sept 2021)||$50|
|VT Markets||1.2 (September 2021)||$200|
|easyMarkets||0.9 (as of Mar 2020)||$100|
How to Verify CMB Authorisation
Unfortunately, the CMB does not provide a list of authorized forex brokers; however, residents can contact the CMB directly to verify authorisation.
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2022 Review Methodology
For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research.
Each broker was graded on 113 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read about Trust Score here.
As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.