First 3 brokers obtain a full forex license by CMB in Turkey

Finally 3 brokers were granted full 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 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.