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Capital Markets Board of Turkey threatens to sue 32 forex websites – but some of them are not even operational

Oct
10
2011
Posted by Guest Author in Regulation
3 Comments

Capital Markets Board of Turkey, announced that they are going to file a criminal complaint for the 32 forex websites, which are still active after 31 August 2011 after they have released communiqué. It’s pretty much a safe bet that this is not actually going to end in lawsuits but serves as a warning for firms either to register with CMB or quit soliciting Turkish clients. Apparently some of these sites like tr.ac-markets.com or alpari-tr.com are not even operational.

CMB had declared that only the seven temporary license given firms can continue their FX and sales activity on the retail side. The companies and the websites that has been filed with CMB are :

  1. forex-ufxbank.com/LPS/ForexPros-en,
  2. global.fxdd.com,
  3. instaforex.com,
  4. http://www.markets.com/tr/,
  5. tr.ac-markets.com,
  6. tr.finotec.com,
  7. turkish.etoro.com,
  8. www.etoro.com,
  9. www.forexcontrol.com,
  10. www.forexsignalsturkey.com,
  11. www.fxcmturkce.com,
  12. www.fxflat.com,
  13. www.hedefonline.com,
  14. www.hfx.com,
  15. www.hotforex.com,
  16. www.ifcmarkets.com,
  17. www.liteforex.org,
  18. www.migbank.com,
  19. www.plus500.com,
  20. www.tradeviewforex.com,
  21. www.trading212.com,
  22. www.ufxbank.com/tr,
  23. www.vantagefx.com,
  24. www.xforex.com/tr,
  25. www.youtradefx.com,
  26. www.avafx.com/tr,
  27. fxyatirim.com,
  28. www.alpari-tr.com,
  29. www.forexyard.com,
  30. www.ozbeyfinans.com,
  31. www.trading-point.com,
  32. http://www.finexo.com

Through the Turkish Information Technology Organization, BTK, it is expected that first action is going to be blocking the websites, before any legal complaint to the companies. After the blocking of websites, CMB is going to apply its article : 47/1/A-4 in which states the procedure about acting illegaly on the Turkish Capital Markets.

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3 Comments on this post

Trackbacks

  1. dan said:

    does anyone know who holds the temp licenses?

    October 11th, 2011 at 5:31 am
  2. anil said:

    here they are :
    http://site13.miydim.com/turkish-temporarily-licensed-forex-firms-list/

    October 11th, 2011 at 9:27 am
  3. dan said:

    thanks – very interesting.

    October 12th, 2011 at 7:45 am

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