In this guide, we go over the best trading platforms in Turkey. We have analysed 174 brokers and evaluated their platforms in 8 major categories. We measured all aspects of their service including trading platforms, fees, mobile trading, deposits & withdrawals, assets, regulation, research & education, customer support and islamic account options.
Trading platforms that reached the highest scoring are considered in the following list:
Top 6 Trading Platforms in Turkey
- Interactive Brokers – Best trading platform overall
- Saxo Bank – Best for Advanced Traders
- CMC Markets – Award winning trading experience
- Tastyworks – Low trading fees
- Capital.com – Best in research and education
- eToro – Best for Social and Copy Trading
Best Online Trading Platforms Turkey
|PLATFORM||SCORE||GENERAL INFO||MINIMUM DEPOSIT|
|#1||Interactive Brokers||4.9||Best trading platform Overall||$0|
|#2||Saxo Bank||4.9||Best for Advanced Traders||$10.000|
|#3||CMC Markets||5||Award winning trading experience||$0|
|#4||Tastyworks||4.6||Low trading fees||$0|
|#5||Capital.com||4.7||Best in research and education||$20|
|#6||eToro||4.9||Best for Social and Copy Trading||$200|
Below section breaks down the best trading platforms in Turkey beginning with the highest rated…
01. Interactive Brokers: Best Platform Overall
Interactive Brokers is a highly trusted global broker with a well-rounded offer of tradable markets, great educational content and sophisticated order type configuration. It is a high trusted and well capitalize company with an industry leading trading platform, a competitive fee structure and great global market access. Their low entry level and the Global Trader platform, which is intuitive and easy to use trading station, make this broker s great choice for beginners and advanced forex traders.
Professional and seasoned traders will appreciate the great selection of advanced trading tools and order type configurations available on their proprietary Trader Workstation desktop platform (TWS).
02. Saxo Bank: Best for Advanced Traders
Saxo Bank is a reputable global brand known for its complete overall offer and exclusive conditions for high volume traders and investors. Users can enjoy cutting edge trading technology paired with a premium interface and great trade execution on mobile and desktop. The Saxo Bank trading platform offers a feature rich trading experience, easy to use interface, competitive margin rates, and trading on over 40,000 financial instruments. This makes them an industry leader in trading assets coverage as an ECN broker.
If you can afford the minimum deposit of $10.000, this is the go to broker for traders and investors at all levels. They combine high-quality in-house research with top-tier third-party providers and a diverse portfolio of investment options.
Investors who are looking to trade in accordance with Sharia Law can open an islamic account. Saxo Bank also offers high quality customer service in Arabic and English language via phone, email or in person at their local office with guaranteed satisfying answers.
03. CMC Markets: Award winning trading experience
CMC Markets is a reputable online broker known for its award winning trading experience, excellent selection of tradable instruments and industry leading pricing. With over 12.500 tradable instruments across all asset classes, CMC is among industry leaders in market coverage.
Their proprietary trading platform called Next Generation is reliable, fast executing and fully packed with useful trading tools and indicators. It features an impressive education and research section full of quality in-house and third party content.
CMC Market offers the lowest commissions and fees in the industry. Low spread fees (0.73 pip on EUR/USD) are available for traders at all levels and accounts. Additional bonuses and rebates for active traders makes CMC Markets a market leader in costs and fees.
04. Tastyworks: Low trading fees
Tastyworks is a reputable options broker, known for its sophisticated trading platform, great selection of derivatives and industry low trading fees. Their unique set of trading tools, excellent charting apps and the Tastytrade content network make it a great fit for experienced and active day traders focusing on futures and options. Although Tastyworks offer great educational materials and research tools, we do not recommend this broker to beginners.
The minimum deposit at Tastyworks is $0. Customer support is responsive and well educated.
05. Capital.com: Best For Research and Education (Discount Broker)
Capital.com is a top choice for traders looking for a discount broker with great educational content and resources, advanced research tools and a premium trading interface. They offer a wide range of tradable assets including CFDs on cryptos, stocks, indices, commodities and forex pairs.
Founded in 2016, Capital.com is an international fintech company which has group of entities authorised and regulated by the Financial Conduct Authority (“FCA”), the Australian Securities and Investments Commission (“ASIC”), the Cyprus Securities and Exchange Commission (“CySEC”), and the Financial Services Authority of Seychelles (“FSA”). It does not operate a bank and is not publicly traded.
Choose Capital.com if you are looking for a great mobile trading experience, professional web trading interface, day trading features. Beginner traders will like the low minimum deposit ($20), industry leading commission structure, and award winning education section.
06. eToro: Best Broker For Social Trading
eToro is a reputable global brand and industry leading broker for copy trading. Their robust and cutting edge copy trading platform and social trading features allow users to copy trades and portfolios from professional traders and investors.
As a CFD multi asset broker, eToro allows users to trade on over 3075 different symbols including stocks, forex, cryptos, indices and commodities. Trading spreads are wide, deposits are free and account minimum is low. There are conversion and inactivity fees. eToro provides a comprehensive list of technical tools, charts, and newsfeeds. Their customer support is available through email and live chat in Arabic and English.
eToro is a well established market maker broker with a clean history record, regulated by top tier regulators.
68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
How To Pick The Right Platform?
The main criteria to consider when choosing a trading platform in Turkey include: fees, trading platform, mobile trading, deposits & withdrawals, assets, customer support, liquidity and security.
Fees: Choose a broker with a transparent fee structure and avoid brokerage accounts with high fees on trades, overnight fees and hidden fees. Commission and spread fees are common with Turkey brokerage accounts. Spreads should vary between 0.03% to 0.5% depending on your trading volume.
Trading platforms: They should be user friendly, grant access to trading tools and indicators and suitable to traders at all levels. We recommend you opt for a platform with a technical charting interface and built-in market data. A comprehensive market news feed and access to advanced features are a must.
Mobile Trading: Mobile trading apps should offer the same trading tools and charts as their web versions. Choose mobile platforms with full-screen charting options and social feeds.
Deposit & Withdrawal: Deposit and withdrawal needs to be fast and simple. Choose an broker that offers your preferred payment method and industry leading commission and fee structures.
Assets: Look for coverage of preferred assets. Turkey traders are allowed to access all tradable asset classes including forex, stocks, indexes, options, FOPs, commodities, futures, indices, bonds, swaps, mutual funds, hedge funds, spot gold, ETFs and cryptos.
Regulation: Brokers with top-tier licenses follow strict rules enforced by a trustworthy regulators and offer high security standards. We recommend users to choose platforms with FCA, CySEC, and ASIC licenses and tier one regulations.
Research & education: Beginner and average traders and investors should choose a broker with research and education tools including: weekly webinars, daily news updates, personal account manager, personal training and room access.
Customer support: Beginner traders should look out for responsive and professional customer support available in their language.
*Islamic Accounts: All platforms from our list offer islamic account options. This gives users the chance to trade online in compliance to the Sharia law.
Online Trading In Turkey
Online trading in Turkey is available through The Borsa Istanbul. As of now, it is listing over 411 Turkish companies and is the only working stock exchange in the country. It was founded by the merger of the Istanbul Gold Exchange and the Derivatives Exchange of Turkey. Turkish citizens that want to trade or invest in international stocks, commodities, cryptocurrencies, or other financial instruments will need to use an offshore broker.
Online Trading Regulation
The Capital Markets Board of Turkey (CMB), the Borsa Istanbul, and the Central Registry Agency (Merkezi Kayıt Kuruluşu) regulate the finance industry, including online trading in Turkey. All brokers and trading platforms based in Turkey that offer their services to Turkish citizens must have a valid operating licence. Brokers and cryptocurrency exchanges based abroad don’t need to apply for such a license and can freely accept Turkish traders and investors. Turkish citizens can legally buy, trade, and invest in cryptocurrencies, but they cannot use them in legal transactions as per the law set out by the Central Bank of the Republic of Turkey (CBRT).
You can verify if a Turkish broker has a valid license from the Capital Markets Board of Turkey, by going to their official website and checking the list of companies that are registered with the Board and Sale of Foreign Capital Market Instruments. If nothing shows up, the company is unlicensed.
Based on our review, we consider Interactive Brokers as the best trading platform for Turkey residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features and a responsive customer support.
Saxo Bank is the second best trading platform for Turkey residents, because of their low fees, advanced trading tools, copy trading features, and a responsive customer support. CMC Markets, Tastyworks, eToro, and Capital.com are finishing up our list of top platforms with a great overall offer and above average ratings.
Are There Commission-Free Trading Platforms In Turkey?
Yes, there are trading platforms available in Turkey that offer 0% commission trading like eToro.
How Much Should I Invest When Trading Online in Turkey?
You should always invest at least the minimum deposit amount Turkey and international brokers require you to open an account. In most cases, this is about $50.
Is Crypto Trading Available In Turkey?
Yes, crypto trading is available to Turkey citizens. The leading trading platforms offer Bitcoin trading via CFDs.
How To Check If A Trading Platform Has a Valid License?
You can check if a broker or trading platform has a valid license by checking the ‘Registered and Reporting Entities’ databases on the official websites of regulatory bodies like the CySEC, FINRA, ASIC, BaFin, or FCA. For Turkey-based brokers, you can check the official website of the Capital Markets Board of Turkey instead.
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best online brokers. Trading platform, fees, mobile trading, payments, assets, regulation, education, and research are all part of our six-month evaluation of a broker’s trading platform. The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
If you liked this article then also read:
- Saudi Arabia
- 1 Top 6 Trading Platforms in Turkey
- 2 Best Online Trading Platforms Turkey
- 2.1 01. Interactive Brokers: Best Platform Overall
- 2.2 02. Saxo Bank: Best for Advanced Traders
- 2.3 03. CMC Markets: Award winning trading experience
- 2.4 04. Tastyworks: Low trading fees
- 2.5 05. Capital.com: Best For Research and Education (Discount Broker)
- 2.6 06. eToro: Best Broker For Social Trading
- 2.7 How To Pick The Right Platform?
- 2.8 Online Trading In Turkey
- 2.9 Online Trading Regulation
- 2.10 License Verification
- 3 Conclusion