In this guide, we go over the best trading platforms in Turkmenistan. 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 5 Trading Platforms in Turkmenistan
- IQ Option – Best trading platform
- ActivTrades – Broker regulated by the UK FCA
- Pepperstone – Great research and education section
- Interactive Brokers – Great Overall Pick
- Saxo Bank – Best for Advanced Traders
Best Online Trading Platforms Turkmenistan
|PLATFORM||SCORE||GENERAL INFO||MINIMUM DEPOSIT|
|#1||IQ Option||4.7||Best trading platform Overall||$10|
|#2||ActivTrades||4.4||Broker regulated by the UK FCA||$500|
|#3||Pepperstone||4.8||Great research and education section||$200|
|#4||Interactive Brokers||4.9||Great Overall Pick||$0|
|#5||Saxo Bank||4.9||Best For High Volume Traders||$10.000|
Below section breaks down the best trading platforms in Turkmenistan beginning with the highest rated…
01. IQ Option: Best Platform Overall
IQ Option is a well established online broker great for users looking to trade forex, options and CFDs on a intuitive trading platform. Their well rounded offer consists of low spreads, a sophisticated trading platform, free demo account option, and responsive customer support in English language. They offer islamic accounts and copy trading in Arabic language which allows you to copy portfolios from seasoned investors and traders.
IQ Option is a trustworthy and reliable market maker broker commissioned by CySEC and subject to the highest standards of regulation in the industry. Options trading is no longer available.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
02. ActivTrades: Broker regulated by the UK FCA
ActivTrades is a reputable forex and CFD broker regulated by the UK’s Financial Conduct Authority (FCA). Their proprietary trading platform called ActivTrader is intuitive, fully customizable and offers a clear report on trading fees. Account opening is fast and easy, deposits and withdrawals are free of charge. Trading fees are below industry average.
ActiveTrades charges an inactivity fee. Tradable assets are limited to basic classes and instruments which will not be enough for professional traders. Research and educational materials are slim.
03. Pepperstone: Great research and education section
Pepperstone is a trusted Forex and CFD broker well know for its support of multiple copy trading platforms, great variety of tradable assets and a enormous research and education section. The combined offering of cTrader, MetaTrader and various social trading features makes this broker s great fit for copy traders and algorithmic traders.
Pepperstone is available through 24/5 phone and online chat support plus offers an extensive FAQ web section, and e-mail.
04. Interactive Brokers: Great Overall Pick
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).
05. Saxo Bank: Best For High Volume Traders and Investors
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.
How To Pick The Right Platform?
The main criteria to consider when choosing a trading platform in Turkmenistan 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 Turkmenistan 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. Turkmenistan 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 Turkmenistan
Online trading in Turkmenistan is available on the Exchange of Turkmenistan, also called the Ashgabat Stock Exchange. It is a state-run commodity and raw materials exchange. Citizens of Turkmenistan that want to trade international stocks, ETFs, cryptocurrencies, and other financial instruments have to use foreign brokers and cryptocurrency exchanges. If you live in Turkmenistan and want to trade online, we recommend trading only with brokers mentioned in this guide.
Online Trading Regulation
The Central Bank of Turkmenistan (CBT) is the main financial regulatory body in Turkmenistan to oversee the finance industry including online trading activities. All companies based in Turkmenistan that want to offer trading and investment services to Turkmenistan citizens must apply for a license with the CBT. Brokers and cryptocurrency exchanges based abroad don’t need such a license to market their services to Turkmenistan traders and investors. There are no laws in place for cryptocurrency trading in Turkmenistan.
You can verify if a Turkmenistan-based broker has a valid license from the Central Bank of Turkmenistan by going to their official website and checking the list of companies that are shown under the ‘Registered Entities’ list. If your preferred broker or trading platform is not listed there, the company is unlicensed and we recommend you to trade with one of the best trading platforms in Turkmenistan mentioned in this guide instead.
Based on our review, we consider IQ Option as the best trading platform for Turkmenistan residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features and a responsive customer support.
ActiveTrade is the second best trading platform for Turkmenistan residents, because of their low fees, advanced trading tools, copy trading features, and a responsive customer support. Pepperstone, Interactive Brokers, and Saxo Bank are finishing up our list of top platforms with a great overall offer and above average ratings.
Are There Commission-Free Trading Platforms In Turkmenistan?
Yes, there are trading platforms available in Turkmenistan that offer 0% commission trading.
How Much Should I Invest When Trading Online in Turkmenistan?
You should always invest at least the minimum deposit amount Turkmenistan and international brokers require you to open an account. In most cases, this is about $50.
Is Crypto Trading Available In Turkmenistan?
Yes, crypto trading is available to Turkmenistan 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 Turkmenistan-based brokers, you can check the official website of the Central Bank of Turkmenistan 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 5 Trading Platforms in Turkmenistan
- 2 Best Online Trading Platforms Turkmenistan
- 2.1 01. IQ Option: Best Platform Overall
- 2.2 02. ActivTrades: Broker regulated by the UK FCA
- 2.3 03. Pepperstone: Great research and education section
- 2.4 04. Interactive Brokers: Great Overall Pick
- 2.5 05. Saxo Bank: Best For High Volume Traders and Investors
- 2.6 How To Pick The Right Platform?
- 2.7 Online Trading In Turkmenistan
- 2.8 Online Trading Regulation
- 2.9 License Verification
- 3 Conclusion