The ForexBrokers.com annual forex broker review (five years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.
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 Capital Markets Board is the financial regulatory body in Turkey. Website: http://www.cmb.gov.tr/. We recommend Turkey residents also follow the CMB on Twitter: https://twitter.com/spkgovtr
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.
- IG - Best overall broker 2021, most trusted
- Saxo Bank - Best for research, trusted global brand
- Interactive Brokers - Great for professionals and institutions
- City Index - Excellent all-round offering
- FOREX.com - Great all-round offering
- XM Group - Well-rounded offering
- FP Markets - Excellent pricing, great for MetaTrader
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.
| Forex Broker | Accepts TR Residents | Average Spread EUR/USD - Standard | Minimum Initial Deposit | Overall | Visit Site |
|---|---|---|---|---|---|
| IG | Yes | 0.745 | £250.00 | Visit Site | |
| Saxo Bank | Yes | 0.800 | $10,000.00 | N/A | |
| Interactive Brokers | Yes | N/A | $0 | N/A | |
| City Index | Yes | 1.100 | £50.00 | N/A | |
| FOREX.com | Yes | 1.400 | $100.00 | Visit Site | |
| XM Group | Yes | 1.600 | $5-100 | N/A | |
| FP Markets | Yes | 1.140 | $100 AUD | N/A | |
| IC Markets | Yes | 0.800 | $200 | N/A | |
| Tickmill | Yes | 0.530 | $100.00 | N/A | |
| FxPro | Yes | 1.510 | $100.00 | N/A | |
| Vantage FX | Yes | 1.350 | $200 | N/A | |
| Moneta Markets | Yes | 1.300 | $200.00 | N/A | |
| VT Markets | Yes | 1.30 | $200 | N/A | |
| BlackBull Markets | Yes | 0.76 | $200 | N/A | |
| OctaFX | Yes | 1.100 | $25 | N/A |
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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Methodology
For our 2021 Forex Broker Review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors 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." Learn more.
