Best Forex Brokers Turkey 2022

To come up with this list, we have tested forex brokers Turkey.

We opened a real account and deposited between $4,000 and $6,000 with each broker. Then, to get an accurate picture, we placed real trades in each popular market. 

Afterward, we reached out to customer support to see how the team was able to solve our problems. Finally, we withdrew our funds to check the withdrawal process.

We handpicked the best forex brokers Turkey based on our trading data and experience as a trader.

Is Forex available in Turkey?

Turkey is located in Eastern Asia, on Anatolia, with a portion in Southeast Asia, on the Balkans. It borders Georgia, Armenia, Iran, Azerbaijan, Iraq, and Syria.

During the last decade, Turkey has registered considerable growth in the economy. The main economic sectors in the country are banking, textile, oil, mining, construction, etc. Turkey is not a member of the EU, though it strives for membership.

As to Forex Trading in Turkey – it is legal. However, the country imposes very strict laws and regulations in the sector.

The regulatory body that controls financial markets is the Capital Markets Board of Turkey (CMB). According to the body, those forex brokers that are not regulated by the CMB are banned in the country. Read more about the CMB on the Wikipedia page.

The official website of the Capital Markets Board of Turkey is www.cmb.gov.tr.

In fact, the majority of brokers worldwide do not accept Turkey traders, or traders might find it difficult to transfer money to or from the broker. In that case, the only option might remain offshore or international brokers. We recommend choosing brokers with additional regulations and entities in the UK, Australia, etc, and opening accounts under their international entities for safety.

🏦Regulator	The Capital Markets Board of Turkey
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	No
💰Compensation Scheme	No
📊 Maximum Leverage	1:10

Best Forex Brokers in Turkey

Forex Trading is legal in Turkey. However, due to the strict local laws and regulations many brokers that are not registered by Turkey’s regulatory body – the CMB, are straight away banned in the country. Besides, the government allows leverage only as high as 10:1. Also, the lowest deposit comprises about $90, 000, which makes Forex Trading unavailable for many traders.

There are Brokers that are based in the country and fall under local regulation, and there are brokers that accept traders from the country. We recommend signing only with reliable firms as money safety in trading goes first. Besides, due to their Muslim faith, most of the traders from Turkey may need brokers with Islamic or Swap-free accounts.

Before signing with a broker, we advise you to check the broker’s offerings. Firstly, it is essential to verify whether the broker’s accounts are supported by necessary payment methods. Also, we recommend checking whether customer support provides help in the preferred language.

To select the best forex brokers Turkey, we have reviewed many regulated forex brokers. Based on our research, we have come up with a list of the best forex brokers Turkey:

• Admiral Markets – Best online forex broker Turkey Overall
• XM – Best Forex Broker for Beginners Turkish
• Dukascopy – Best ECN forex broker in Turkey
• Tickmill – Best forex broker with low spreads Turkey
• FBS – Best high leverage forex broker for Turkey

Best Online Forex Brokers Turkey Overall

We picked Admiral Markets as the best online forex broker Turkey Overall.

Founded in 2001 Admiral Markets is a global Forex and CFDs broker. It is located in Estonia with licenses in Australia, the United Kingdom, Cyprus, and Estonia. Admiral Markets is a leading STP broker with low spreads and minimum deposit. The broker offers multiple trading instruments: forex pairs, indices, stocks, commodities, and cryptocurrencies.

The deposit methods offered by the broker are fast and easy through different payment methods: bank wires, credit and debit cards, and e-wallets such as Skrill and Neteller. Admiral Markets offers the popular MetaTrader 4 and MetaTrader 5 platforms. Both the platforms have all the tools and features that provide successful trading.

At last, Admiral Markets offers five main account types: Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, and Zero.MT5. Besides, Admiral Markets offers Islamic accounts to its Muslim traders.

Best Forex Brokers for Beginners Turkish

We picked XM as the best forex broker Turkey for beginners.

XM was founded in 2009. This is a Forex and CFDs broker with multiple licenses in Australia, the United Kingdom, Cyprus, UAE, and Belize. XM offers various trading instruments in the following categories: forex pairs, indices, stocks, and commodities.

The broker does not have its proprietary platform. Instead, it is one of the best MT5 forex brokers. XM also enables its clients to conduct their trades on the popular MT4 platform.

Based on our research, we found XM to be the best forex broker Turkey for beginners. The education section of the broker is rich in materials, especially suitable for beginners. Also, the broker offers detailed courses to beginner traders. The Tradepedia videos designed by the broker are available for traders worldwide. There are also other materials, such as weekly webinars and detailed articles.

Best ECN Forex Brokers in Turkey

We picked Dukascopy as the best ECN forex broker Turkey.

Founded in 2004, Dukascopy is headquartered in Switzerland. It is a forex and Contracts for Differences (CFDs) broker, offering also banking services. It is regulated in Switzerland, Japan, and Latvia and has offices in Riga, Kyiv, Moscow, Kuala Lumpur, Hong Kong, Shanghai, Dubai, and Tokyo. Dukascopy offers trading services in the following markets: forex, indices, commodities, cryptocurrencies, and stock CFDs instruments.

Dukascopy offers two account types: Forex ECN account and Forex MT4 account. The broker offers the following payment methods: bank transfers, credit and debit cards, and other online wallets like Skrill, and Neteller. It also takes deposits in cryptocurrencies like Bitcoin, Ether, and Tether.

We have chosen Dukascopy as the best ECN forex broker Turkey. We recommend traders open an ECN account and run EA and other trading strategies. Read more about ECN Forex Brokers.

Best Forex Brokers with Low Spreads Turkey

We picked Tickmill as the best low spreads forex broker Turkey.

Tickmill is a global Forex and CFDs broker, founded in 2014. The broker is headquartered in London with licenses in the UK, Cyprus, South Africa, Seychelles, and Labuan (Malaysia). The broker enables access to multiple trading instruments in the following categories: Forex, Commodity, Indices, and Bonds.

Tickmill has 3 account types: the Pro, Classic, and VIP accounts. The payment methods with Tickmill are the following: debit/credit cards, bank transfers, and e-wallets such as Skrill, and Neteller. Tickmill also offers great educational materials and is suitable for beginner traders.

We have picked Tickmill as the best low spread forex broker Turkey. It is considered one of the few zero-spread forex brokers. Learn more about zero spreads here.

Best High Leverage Forex Brokers for Turkey

We picked FBS as the best high leverage forex broker Turkey.

Being a Forex and Contracts for Differences (CFDs) broker FBS was founded in 2009. It is located in Belize and Cyprus and is regulated in Belize, Cyprus, and Australia. FBS enables traders to access multiple categories: forex, indices, commodities, stocks, and cryptocurrency CFDs.

With FBS traders have access to various platforms: MT4, MT5, and FBS Trader (mobile). The broker offers Standard, Cent, Micro, Zero Spread, and ECN accounts.

We have picked FBS as the best high leverage forex broker Turkey. Traders can get high leverage with the broker, however, they must be careful to open accounts under the entity that allows high leverage.

Top forex brokers List Turkey

We have tested many regulated and trustworthy forex brokers Turkey. Based on our research, we have come up with a list of available forex brokers Turkey.

Forex Brokers Turkey	About Our Test	Our Review
Admiral Markets	Deposit Amount: Over €4,500 Total Trade: 12 trades	Admiral Markets Review
XTB	Deposit Amount: Over €5,000 Total Trade: 12 trades	XTB Review
Dukascopy	Deposit Amount: Over €4,000 Total Trade: 15 trades	Dukascopy Review
GO Markets	Deposit Amount: Over €4,000 Total Trade: 12 trades	Go Markets Review
Tickmill	Deposit Amount: Over €8,000 Total Trade: 12 trades	Tickmill Review
Trading 212	Deposit Amount: Over €5,500 Total Trade: 15 trades	Trading 212 Review
XM	Deposit Amount: Over €5,000 Total Trade: 12 trades	XM Review
ActivTrades	Deposit Amount: Over €5,000 Total Trade: 12 trades	ActivTrades Review
FXTM	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review
Vantage FX	Deposit Amount: Over €5,000 Total Trade: 15 trades	Vantage FX Review
IC Markets	Deposit Amount: Over €5,000 Total Trade: 12 trades	IC Markets Review
Interactive Brokers		Interactive Brokers Website
IG		IG Website

FAQ and More on Forex Trading in Turkey

Traders usually have many questions and concerns related to forex trading in Turkey. In an attempt to be helpful we picked and answered some of the most important questions related to forex brokers Turkey.

How to Verify Turkey Regulated Broker?

Many traders wonder how they can verify a forex broker Turkey. Generally, it is quite easy. The information can be found on the regulator’s website. However, not many brokers are regulated by the Capital Markets Board of Turkey (CMB).

If Turkish clients choose to trade with international brokers, they can verify them on their own official websites. All brokers provide information about their availability or restrictions in certain regions and countries.

Islamic Forex Brokers in Turkey

Traders of the Muslim faith are forbidden to conduct trades due to Sharia law. However, there are still brokers that offer Islamic accounts designed specifically for those traders.

Based on our research we found forex brokers that accept traders from Turkey and offer Islamic accounts:

• IC Markets
• Dukascopy

No Deposit Bonus Forex Broker in Turkey

Many Turkish traders look for brokers with no deposit bonus. However, there are not many brokers that offer it. Based on our research we found only XM that still offers a welcome bonus to its new clients. You can learn more about no deposit brokers in our article.

Turkey Best forex broker for scalping

Scalping is a trading strategy when traders open and close positions in markets in a short span of time to profit from the trade. We searched for forex brokers Turkey for scalping and as a result, came up with several trustworthy and reliable ECN brokers:

• Dukascopy
• FBS

Best Stock Broker in Turkey

We tried to find the best forex stock broker Turkey. Based on the data we collected we recommend Interactive Brokers. It is also one of the best forex options brokers.

Tax in Turkey for Forex Trading

In Turkey forex trading is taxable. Turkish traders have to pay taxes for the gains from forex trading. The tax rate depends on the income amount. It varies from 15% to 27%.

Traders from Turkey should remember that filing tax forms to the relevant institution is entirely their responsibility. Avoidance or delay may lead to fines and penalties.