Forex trading Turkey
Forex trading has gained momentum in Turkey at par with other countries all over the world. Many traders are joining this financial market in Turkey every day to try their luck in Forex trading in Turkey. But very few of them understand the fact that it is purely a Science and Art rather than just luck. Hence you must understand the Forex market and learn the art of trading to be a successful Forex trader in Turkey.
Forex Trading in Turkey
Trade Forex in Turkey with recommended brokers to avail tight spread on popular currency pairs. Most of these brokers offer zero fees or minimum fees on fund deposit and withdrawal. Safety and security of your fund assured as they are deposited with European banks.
Best Forex Brokers in Turkey 2020
The Forex trading market is highly competitive with thousands of Forex brokers trying their best to attract the clients. The Forex brokers go any extent to attract their clients – they offer No Deposit Bonus, 100% Bonus on Deposit or Free Trading Signals, etc. As a trader, you must understand the reality, and don’t just go by too good to be true offers. Like the brokers who give you a $5000 free deposit have their conditions such that no trader can ever meet the conditions and withdraw the money. Here we have analyzed a few Forex brokers accepting traders from Turkey. If you are looking for the Best Forex Brokers in Turkey in 2020, this list may help you choose the right one.
- Complies with EU regulators
- Account in Turkish Lira(TRY)
- Standard Account with $100
- Web, App, and MT4 platform
- Bonus deposit available
- Standard Account with $100
- Cent / Micro Account $1 / $5
- Bonus deposit – Yes
- ECN account available
- Free Demo Account – Yes
- Islamic Account – Yes
- Standard account with $250
- Copy-trading & PAMM – Yes
- Free analysis & market news
- Bonus deposit – up to 100%
- Low spread starting 0.1 pips
- Islamic Account -Yes
- Bonus deposit – Yes
- HFCopy and PAMM
- Free Demo
TRADE FOREX, GOLD, SILVER, OIL & STOCK INDICES IN TURKEY
CFD – Micro lot trading on Indices CFD and commodities like Gold, Silver and Crude Oil allows you to trade in smaller sizes keeping the small account balance in mind.
Gold, Silver and Crude Oil trading – Flexible lot sizes and low spread on Gold, Silver and Crude Oil offer you an opportunity to generate profit from small price movements. The minimum spread offered on Gold in just 0.10, which is very competitive in the industry. The favorite trading assets of Forex traders in Turkey are Gold (XAU/USD), Silver (XAG/USD) and Crude Oil (XBR/USD). The currency pairs like EUR/USD, GBP/USD, USD/JPY and AUS/USD are also most popular pairs when it comes to Forex trading in Turkey.
Many trading opportunities with one account.
You can tap into several financial markets to find the best potential trading opportunities. Forex traders in Turkey can enjoy access to a variety of trading products like:
Buy and Sell global currencies and benefit from its price fluctuation. Tightest spread allows you to take advantage of every trading opportunity and increases your profit potential. Learn Forex trading in Turkey and practice in a Forex demo trading account. Start practicing in a demo account or open a live account today.
Start trading the Global Stock Market Index on MT4 and MT5 platform. Tap potential the profit opportunity from global financial markets. Trade GER30, AUS30, NAS100, SPX500 etc. with ease. The wide range of Indices trading means more potential profits. Check out the trading features with one of our recommended brokers.
Gold Silver and Oil
Many traders understand commodity trading better as compared to Forex. The Forex and CFD traders from Turkey BUY and SELL Gold and Silver, and make a profit from its price fluctuations. Crude Oil trading is even more popular among traders as they can predict its price movement with better accuracy.
Forex trading Turkey - What is Forex trading?
Forex trading or FOReign EXchange trading, FX or simply currency trading, is the decentralized global market where different currencies trade. The Forex market is the biggest and highest liquid market in the world. It has an average daily trading volume exceeding five trillion US Dollars. All the stock markets when combined together don’t even come close to this. So, how can you benefit from it? Take a closer look at the concept of trading Forex and you will certainly find some exciting trading opportunities which are unavailable with other investments.
Featured Forex Brokers Turkey
Before you start trading Forex in Turkey, you need to open an account, right? This is one of the important decisions, that is going to affect your Forex trading activities permanently. The factors that must be considered are Spread, Commission, Fees on fund deposit and fund withdrawal. There is a recurring trading expense which you pay every time you place an order, which is adjusted in the Bid and Ask price. This is called the Spread, in other words, the Broker’s profit. We recommend here the brokers who have most competitive spread in the industry. Hence, you save while placing every single trade when you these Forex brokers in Turkey.
The selection of the right broker for trading Forex is the first step towards becoming a successful Forex trader in Turkey. There are numerous Forex brokers available in Turkey, both regulated and non-regulated. We recommend the following few Forex brokers in Turkey as the first step towards Forex trading.
Hot Forex – Forex broker Turkey
HotForex is one of the market leading broker providing its Forex trading services in Turkey. You can expect Honesty, Openness, and Transparency while trading with Hot Forex. Hot Forex Turkey is preferred by the majority of the Forex traders in Turkey. Your trading expenses are very low while trading with Hot Forex. Check out Hot Forex Review for more details about this broker.
IS FOREX TRADING LEGAL IN TURKEY?
Many traders ask about the legal aspects of Forex trading in Turkey. The commonly asked question is ‘Is Forex trading legal in Turkey?’. To answer this, we can say ‘ It is legal to trade Forex in Turkey’. However, while trading Forex in Turkey, you must know your tax liabilities for the income generated through Forex trading in Turkey. In case you have further queries about the legal aspects of Forex trading in Turkey, it is always safe to consult a legal adviser.
How to be a successful Forex trader in Turkey?
It is quite a difficult question to answer ‘ How to be a successful forex trader in Turkey?’. Since it is a known fact that the majority of retail traders lose money while trading Forex. Only a handful of traders, only 25% of the traders stay profitable while trading Forex. In other words, 70% to 80% of the traders lose money – it is an average statistical data collected from the reputed brokers.
Hence, to be a successful trader you have to become among the 25% disciplined traders who make money. The most important quality these successful traders have is trading discipline and risk management. They never trade blindly. They only trade when there is a potential trading opportunity. And they don’t trade all their money in a single trade. Rather they risk only 2 to 5 % of their capital in each trade. They keep growing their account slowly and steadily.
So in order to be a successful trader, you must apply these easy to understand but difficult to follow rules. We say it difficult to follow because we have seen among our traders, many of them can not follow these two simple rules. 1- Risk only 2 to 5 % in any trade. 2- Trade only when you see a potential opportunity.
There are many other strategies and guide materials available with the brokers. Every trader understands these. Only a few of them apply them while trading, and these are among the 20% of the traders who are successful Forex traders.
Forex trading, CFD Trading service includes products that are traded on margin and carry a risk of loss of your deposited funds. These products may not be suitable for all investors. Please ensure that you fully understand the risks involved while trading Forex and CFD.