4 more Turkish brokers receive forex licences

4 more new Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term licences were announced today for:

• Tera Securities
• Ata Invest Securities
• GCM Securities
• X Trade Brokers (XTB) - the first foreign broker to receive such a license

This bring the total number of forex licences granted by the CMB to 11.

Turkish Capital Markets Board began regulating the forex market in August 2011 and has since caused more than 2 dozen foreign brokers to exit the once thriving Turkish forex market.