Turkey Forex Trading Brokers

Written by Miro Nikolov

Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: January 6, 2026

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• Jump to:
• Main features of the best Turkey Forex brokers
• Forex Legislation
• Financial Regulators
• Payment Methods
• Trading Software
• Mobile Trading
• FAQ
›

Our team of expert traders has tested many regulated and trustworthy Forex brokers that accept clients from Turkey and has compiled a list of the best among them. Each broker operating in Turkey received a quality score based on several factors, including its Trustpilot rating, regulatory status, fees and commissions, available trading platforms, customer service, and more.

1. 

   Plus500 US

   Rating: 4.0

   This content applies only to Plus500 US and clients from the United States. Trading futures involves the risk of loss.

2. 

   eToro

   Rating: 4.2

   50% of retail investor accounts lose money

3. 

   Fusion Markets

   Rating: 4.8

   74-89% of retail's CFD accounts lose money

4. 

   FP Markets

   Rating: 4.9

   73.85% of retail investor accounts lose money

5. 

   BlackBull Markets

   Rating: 4.8

   Trading leveraged products is risky

6. 

   Pepperstone

   Rating: 4.4

   72.9% of retail investor accounts lose money

Below you can find a comprehensive comparison table of Forex brokers for traders in Turkey. We rank them based on several factors, including regulation, spreads and commissions, Trustpilot rating, trading instruments, trading platforms, and deposit and withdrawal methods.

Our team has thoroughly evaluated all brokers listed below using TradingPedia’s exclusive methodology.

Main Features of the Best Turkey Forex Brokers

Strategically located on the Anatolian Peninsula, Turkey is a nation with a rich cultural heritage and a colorful history that dates back to the 13th century. Throughout its long history, the country has served both as a bridge and a barrier between Europe and Asia. It is the 36th largest country in the world, occupying an area of 783,562 square kilometers, with a population of 83.9 million people.

Turkey has registered impressive economic growth since the early 2000s, which has led to higher employment and income levels. Its gross domestic product grew by an average of 7% between 2010 and 2017, despite the geopolitical frictions that shook the country during that time.

In the summer of 2018, the nation was hit by a severe financial crisis characterized by high inflation and the depreciation of the local currency, the Turkish lira (TRY), whose value dropped by nearly 30%. Nevertheless, the economy rebounded the following year, driven by the industrial and agricultural sectors.

Turkey’s variety of natural resources, along with its emerging market economy, has helped transform it into a booming center for financial activity and international investment. It has strong trading partners in major economic powers such as Germany, China, Russia, and the United States. Its largest city, Istanbul, is home to the Borsa Istanbul Stock Exchange (BIST), which comprises 371 of the country’s largest companies.

With a diversified and relatively young population, more and more locals have been looking for new ways to generate additional income. Many have chosen to do so by trading on the Forex market, which is strictly regulated at the local level. Turkish authorities have continued to introduce progressively tighter regulatory measures over the years, making it difficult for international brokers to penetrate the domestic foreign-exchange scene.

Turkey Forex Legislation

Forex trading is legal in Turkey, but brokers must undergo a cumbersome licensing process to obtain authorization from the Turkish authorities. Operating in this market without a license from the local regulator, the Capital Markets Board of Turkey (CMB), is strictly prohibited. Because Turkey is not a member of the EU, servicing Turkish traders under a license issued in another European jurisdiction is impossible.

The financial sector is subject to the Capital Markets Law, which has seen numerous amendments over the years. The country has had its fair share of Forex scams in the past, prompting local authorities to adopt an extremely rigid regulatory stance toward brokerage firms.

In 2011, new laws were enacted to effectively prevent unlicensed brokers from offering their services to Turkish citizens. The tighter restrictions reduced the uncertainty local investors had faced, allowing them to participate in the markets without fear of being defrauded by scammers. An Investor Protection Fund was also created.

The latest amendments to the country’s Forex legislation came unexpectedly at the beginning of 2017 with the introduction of even harsher limitations. The new restrictions were so severe that Turkish brokers arranged an emergency meeting to discuss how to oppose them. A special website was also created so that market participants could sign a petition against the stricter measures.

While some consider them unfair, the restrictions mostly aim to protect small-scale and non-professional traders from the risks associated with speculative leveraged instruments like the notorious contracts for difference (CFDs).

Under the new requirements, minimum deposits jumped to ₺50,000. This amounts to about US$8,360 at today’s exchange rate, which is a significant sum—especially for beginner investors who often have limited initial capital. The logic behind this high threshold is that customers who cannot commit at least ₺50,000 should not be trading on the Forex market in the first place.

Meanwhile, the leverage on complex derivatives such as CFDs was dramatically reduced. Customers who trade on margin can now use leverage of no more than 1:10. This is arguably the lowest leverage cap in the world, lower even than Japan’s 1:25 maximum. For comparison, the previous caps in Turkey were 1:50 for trading accounts under ₺20,000 and 1:100 for customers whose balance exceeded that amount.

While this is not necessarily a bad thing for inexperienced investors, many regulated Turkish brokers expressed concern that the harsh measures would return the market to its pre-2011 state. The companies argued that the restrictions would force local customers to turn to unauthorized offshore websites for their trading activities, causing an outflow of Turkish capital to foreign countries.

In this way, Turkish traders could essentially circumvent the draconian regulations that were meant to work in their best interests. The brokers insisted that the best way to protect small-scale investors would be to educate them about the risks inherent in certain trading activities rather than severely restricting their leverage.

Speaking of risky investments, the sale of binary options to Turkish customers is also prohibited. The CMB has long been waging war against this highly volatile trading instrument. The authority has even threatened to sue binary options providers and block their websites in the past, arguing this is a gambling product rather than a financial instrument. This stance echoes the sentiments in other countries like the United Kingdom and Canada where binary options are also prohibited by law.

Turkey Financial Regulators

Turkey’s financial industry is regulated by the Capital Markets Board (CMB), which was entrusted with this responsibility by the Ministry of Finance. The supervisory agency was established in 1982 after the Capital Markets Law (CML) came into effect in 1981.

Several other decrees were passed in the years that followed, expanding the regulator’s scope of responsibilities. One notable example is Law No. 4487, enacted in December 1999. In addition to broadening the CMB’s duties, this legislation introduced significant changes aimed at increasing consumer protection.

The main objectives of the Turkish regulator are to ensure the stability of the local financial market, protect customers, and oversee the operations of all stock-market participants. In terms of structure, the CMB consists of a chairman who heads a board of seven commissioners appointed by the Ministry of Finance, the Ministry of Industry and Commerce, and several other government entities.

The CMB is responsible for issuing licenses to authorized Forex brokers that meet the country’s regulatory requirements. The agency closely scrutinizes all licensees to ensure they remain compliant with its guidelines. Companies found to be violating the rules face heavy sanctions.

Turkey Forex Payment Methods

New traders from Turkey are advised to lay solid foundations by trading with virtual credits via demo accounts first. Those who are already familiar with the Forex market can register live accounts and fund them with real cash.

As mentioned above, traders need starting capital of at least ₺50,000 if they join CMB-regulated brokerages. There are many ways to transfer funds to a live account, but bank transfer is the most widely available option. Keep in mind that it can sometimes take a couple of business days for the deposited amount to appear in your real-money balance.

The most widely used banking method in the country is the credit card, which accounted for as much as 74% of all payments in 2018. Debit cards pale in comparison, representing a meager 6% of transactions during the same year.

Nevertheless, both options are prominently featured in the payment systems of Turkey-friendly Forex brokerages. Traders may choose to deposit with Visa, Maestro, or Mastercard. An alternative for those who are reluctant to pay directly with their cards is to use an e-wallet.

Some brokers accept BKM Express, a popular e-wallet in Turkey that enables users to link it to their debit or credit cards. It can be used for both online and mobile purchases. The deposit process with BKM Express is beyond simple.

You select the method from the broker’s payment system, log in to your BKM Express account, specify the desired deposit amount, and enter the verification code your bank sends you via text message. The code confirms the transaction.

Skrill, Neteller, PayPal, Perfect Money, and WebMoney are the other commonly available options for Turkish traders looking to deposit with digital wallets. Turkish residents who do not own credit or debit cards can also conduct payments via the FasaPay gateway, which facilitates fast, safe and affordable online money transfers. The interfaces of many of these e-wallets are available in Turkish, so you will experience no difficulties if you are not fluent in English.

Popular Trading Software in Turkey

The software a brokerage uses is of critical importance to the quality of one’s trading experience. When choosing a broker, you should pay attention to factors such as execution speed, the range of ticker symbols, and the availability of tools for technical analysis.

Most brokers in the Turkish Forex market prefer third-party software, with MetaQuotes’ MetaTrader 4 and MetaTrader 5 being the two most widely implemented platforms. Which one you choose depends on your trading portfolio.

If you plan to trade only currency pairs, you are better off with the MetaTrader 4 platform because it was created specifically with the needs of Forex traders in mind. MT4 is loaded with useful features, including 1,024 trading symbols, hedging, more than 30 graphical objects, dozens of technical indicators, and several types of pending orders.

The newer version, MetaTrader 5, has a similar interface but is geared toward traders who want to expand their portfolios. In addition to Forex, the software supports several other markets, including futures, bonds, options and stocks. Both versions have been optimized for use on the go and offer free downloadable apps for iOS and Android. Turkish is supported, so language will not be a barrier for traders from the country.

Social trading has been one of the hottest trends in the Forex industry in recent years. Also known as mirror or copy trading, this style gained prominence in 2016 when ZuluTrade introduced the Forex community to its software. The ZuluTrade platform can be used as a vehicle for passive investment.

It enables people with limited experience and trading capacity to follow seasoned investors and copy their positions into their own portfolios. The copied traders, on the other hand, generate additional earnings the more people follow them.

Turkish investors looking to try this trading style should consider several factors before they jump on the copy-trading bandwagon, including the copied traders’ risk score, their profit graphs, and their profit over time. MT4 and MT5 also have additional plug-ins for copy trading.

Mobile Trading in Turkey

As modern life becomes increasingly mobile, more people are relying on their smartphones for day-to-day activities like shopping, paying bills, browsing, and emailing. Turkey is no exception.

According to Mustafa Varank, Turkey’s Minister of Industry and Technology, the country is poised to become a major player in the mobile-apps arena. Turkey ranks eighth globally in mobile-app usage and downloads, with the number of mobile-internet users increasing from 40 million in 2016 to 61 million during the first half of 2019.

These trends can also be observed in foreign-exchange trading, as the number of mobile traders continues to rise. In June 2016 alone, mobile trading accounted for 39% of the overall volume generated by Turkish traders.

Many Forex brokers in the local market cater to this demand with dedicated applications for Android and iOS, enabling Turkish customers to trade on the financial markets anytime, anywhere. Mobile compatibility is indeed extremely beneficial to investors.

It enhances decision-making accuracy because traders have instant access to live-streamed prices. This gives them an edge, as they can react immediately when the markets move in a favorable direction. The best trading apps feature intuitive interfaces that make trading on the go easy, regardless of whether you are a novice or a seasoned investor.

Plenty of educational resources are available to help improve your skills, along with a variety of additional features for charting and technical analysis. The availability of the Turkish language is an absolute must for mobile brokers that operate in this market.