“Turkey’s New Forex Regulations are Unlawful with Respect to Open Positions”

[kreslik.news]

Last month the Turkish regulator (Capital Markets Board of Turkey) announced without warning that the maximum leverage on forex accounts will be cut to 1:10 and that the minimum deposit will be hiked to TRY 50,000 (about $13,500). Now we can reveal that despite the best efforts of the local industry to fight the draconian measures via the Turkish Capital Markets Association, the authorities are enforcing them nonetheless.


Besides greatly hurting workers in the Turkish FX industry, which employed as much as 6,500 people before this, the regulator’s actions will also have ill ... (read more)