Finally 3 brokers were granted full forex license to operate in Turkey.
In August 2011 Turkish forex regulator CMB suddenly announced that forex brokerages are no longer allowed to operate in Turkey without a license. Such license however wasn’t even available at the time which created a catch 22 situation for forex brokers. 7 firms were allowed to continue operations under a temporary license. Six months later 3 lucky firms were granted the full license:
- Integral Securities (former Ulukartal Forex)
- İş Yatırım (İş Bank owned broker)
- Turkish Yatırım (Turkish Bank owned broker)
The others are still continuing with their temporary licenses however the 3 brokers’ authorization should become official this Friday. We await authorization of all others.