We found 11 online brokers that are appropriate for Trading Turkish Lira Investment Platforms.
If you've been in the Forex market recently, you must have noticed that the Turkish Lira has been weakening. Multiple factors drive the weak TRY, but the recent weakening has been reported due to the new government's economic measures. They decided to interfere with the country's economy, and as many analysts have expected, inflation rose following the new measures. The consequences are almost unbearable for the domestic economy and the currency itself in the Forex market.
Turkish Lira has been suffering from low exchange rates against major currencies, including Euro and USD. The temporary stability was quickly disrupted by unstoppable inflation rises that reached a 20 per cent level. The consequences were inevitable when the inflation surpasses the toleration threshold. Both foreign and domestic investors were moving their funds that lead into capital, leaving Turkey slowly but surely.
The high inflation eroded the value of capital. Investors preserved the value of their investment in other currencies or instruments. Consequently, making investments would be more difficult for firms with uncertainties ahead of their calculations. The impacts have become scaled up throughout different economic sectors in Turkey. Turkey's central bank has been increasing Lira supply throughout its multiple decades of devaluation.
For Turkey, inflation is not a friend for solid reasons. Despite the flying capitals from the country, inflation is shadowing them. It's tough to predict or forecast the future value of the Turkish Lira with the ongoing high inflation rate. It drives more uncertainties among investors and Turkish account holders. The sustained inflation following the new measures isn't good news for them.
Turkish citizens who formerly held Lyra deposits have been urged by the situation to open deposit accounts denominated in stronger currencies. The stronger currencies refer to the ones that TRY is weak against. Among them, USD and Euro are favourite options for Turks to preserve their wealth in deposit accounts. On the other hand, banks have been lending domestic firms funds denominated in stronger currencies.
Turkey isn't the first and only country to deal with the complications and dilemmas. There are two critical options from which Turkey has to get out of such a situation. First, the country needs to decide to keep pumping new currency or monitor the growth of the currency and governmental spending.
The Turkish Government decided to monitor the growth, but they elevated(or tightened) the measures. The new economic program raised the interest rates to 24 per cent to obtain more restrictive control of the country's monetary growth. The government was successful with the strategy, and the public witnessed the decreasing inflation. If the scenario was sustained, there were chances for Lira to strengthen to a level that it had never experienced in recent decades. However, what came next was so unfortunate.
A new approach was set to replace the ongoing scenario even though both the president and government have also seen positive progress. To prevent TRY from re-devaluation, the Turkish government decided to draw on the central bank's foreign exchange reserves. The president might have thought that the market wouldn't notice, but it did.
Another devaluation of the Turkish Lira was on the gate of certainty. The currency started to decline confidently after the market noticed the president's decision. What happened next is worse than expected as the financial authorities couldn't hold back the emotion to address the actual problems of the devaluation. In blaming the foreign investors, the authorities decided not to sell TRY to them in terms of halting.
The reaction was worth more calculation because it drove more disadvantages for the economy and the currency. The traders who wanted to sell their Lira holdings failed to capture profitable trading opportunities as they couldn't close the deal with the foreign buyers, and they had to buy Lira. TRY holders were blocked in their own trade as the government restricted selling TRY to foreign investors. Traders in the Forex market know what they do: closing the carry trades that leads to the exploding TRY's overnight rate. It's only a matter of time before the Turkish economy would receive the negative impacts of the new measures. Had the Turkish government calculated it before launching the prohibition?
Getting out of this very situation could be tricky with extensive reactionary steps taken by the Turkish government. A possible solution could have been about monetary and fiscal tightening instead of using the foreign currency reserves in the central bank. The consequence is already in front of us, including the diminished total reserves in the central bank and the upcoming effects of the last carry trade rush.
We have conducted extensive research and analysis on over multiple data points on Weak Turkish Lira to present you with a comprehensive guide that can help you find the most suitable Weak Turkish Lira. Below we shortlist what we think are the best Turkish Lira Investment Platforms after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Weak Turkish Lira.
Selecting a reliable and reputable online Turkish Lira Investment Platforms trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Turkish Lira Investment Platforms more confidently.
Selecting the right online Turkish Lira Investment Platforms trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
When choosing a broker for Turkish Lira Investment Platforms trading, it's essential to compare the different options available to you. Our Turkish Lira Investment Platforms brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
By comparing these essential features, you can choose a Turkish Lira Investment Platforms broker that best suits your needs and preferences for Turkish Lira Investment Platforms. Our Turkish Lira Investment Platforms broker comparison table simplifies the process, allowing you to make a more informed decision.
Here are the top Turkish Lira Investment Platforms.
Compare Turkish Lira Investment Platforms brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a Turkish Lira Investment Platforms broker, it's crucial to compare several factors to choose the right one for your Turkish Lira Investment Platforms needs. Our comparison tool allows you to compare the essential features side by side.
All brokers below are Turkish Lira Investment Platforms. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Turkish Lira Investment Platforms that accept Turkish Lira Investment Platforms clients.
Broker | IC Markets | Roboforex | eToro | XTB | XM | Pepperstone | AvaTrade | FP Markets | EasyMarkets | SpreadEx | FXPro |
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049), Central Bank of Ireland | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB) |
Min Deposit | 200 | 10 | 100 | No minimum deposit | 5 | 200 | 100 | 100 | 100 | 1 | 100 |
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Used By | 180,000+ | 1,000,000+ | 30,000,000+ | 1,000,000+ | 10,000,000+ | 400,000+ | 300,000+ | 10,000+ | 142,500+ | 10,000+ | 1,866,000+ |
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Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, cTrader, Tablet & Mobile apps |
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Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. | 76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 74-89 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider |
Demo |
IC Markets Demo |
Roboforex Demo |
eToro Demo |
XTB Demo |
XM Demo |
Pepperstone Demo |
AvaTrade Demo |
FP Markets Demo |
easyMarkets Demo |
SpreadEx Demo |
FxPro Demo |
Excluded Countries | US, IR, CA, NZ, JP | AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, MG, MK, KZ, GD, FJ, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MO, UA, JO, KR, | US, IN, PK, BD, NG , ID, BE, AU | US, CA, IL, IR | AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US, TR | US, CA, IR |
You can compare Turkish Lira Investment Platforms ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Turkish Lira Investment Platforms for 2024 article further below. You can see it now by clicking here
We have listed top Turkish Lira Investment Platforms below.
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