Access to 5 Forex platforms blocked in Turkey

Business Materials 11 January 2018 13:17 (UTC +04:00)

Baku, Azerbaijan, Jan. 11

By Rufiz Hafizoglu – Trend:

Access to five Forex platforms has been blocked in Turkey, the Capital Markets Board of Turkey (CMB) said in a message.

Among the blocked sites are: "turk-fbs.com", "klasfx10.com", "amarkets.org", "vipinvestfx.com" and "fxoro.com".

Forex platforms began to operate in Turkey Dec. 31, 2011.

Last year, following the already announced cardinal tightening of regulatory requirements, the Council of Ministers of Turkey came up with a legislative initiative, having proposed a set of new measures against traders using leverage in trade.

Under the new initiative, Turkish citizens will be prohibited from having trading accounts at a broker not licensed by the CMB.

The draft law is still at the stage of discussion, but once adopted, Turkish citizens will no longer be able to open foreign brokerage accounts, and they will face a fine for violation of this ban.