When you buy through affiliate links in our content, we may earn a commission at no extra cost to you. Learn The stock market offers a way to protect wealth against ever-rising inflation levels in Turkey. But which stock broker offers the best service and most competitive fees?
In this guide, we compare the 6 best stock brokers in Turkey for 2024. We provide information on brokerage fees, supported stocks, minimum account balances, customer support, and more.
Here’s a list of the 7 best stock brokers in Turkey: Stock brokers allow Turkish investors to buy and sell shares. They generally have access to multiple stock exchanges from around the world. This enables investors to diversify and gain exposure to multiple markets. Stock brokers make money when their clients place trades. Some charge commissions, such as Pepperstone. While others only charge a market spread. This is the difference between the bid and ask prices of the respective stock. It is important to remember that stock brokers are intermediaries. In other words, they simply connect their clients to the stock market. When choosing a suitable online stock broker in Turkey, many considerations need to be made. For example, the exchanges and markets available, trading fees, and customer support. It is also wise to check the regulatory status of a stock broker. The license issuer and number are normally listed toward the bottom of its website. Using a regulated broker ensures that Turkish investors can buy and sell stocks safely and in fair market conditions. There are different types of stock brokers available to Turkish investors. It is important to understand how each stock broker type differs, so we explain the fundamentals below. Some of the best stock brokers in Turkey specialize in CFDs. Put simply, CFDs are financial derivatives that track and mirror stock prices. On the one hand, stock CFDs do not provide ownership of the underlying shares. However, they offer a simple and cost-effective way to speculate on stocks. In many cases, CFD brokers do not charge stock trading commissions. Stock CFDs come with many other benefits that are not available when buying traditional shares. For example, stock CFDs can be traded with leverage. This means traders can enter positions with more money than they have in their stock trading account. Scope Markets offers leverage of up to 1:10 on stocks. This means that an account balance of $200 would invite $2,000 worth of trading exposure. Another benefit is that CFDs allow Turkish investors to go long or short on the stock. Traditional brokers are more popular with long-term investors. They have direct access to the stock exchange, usually in their home country. Some traditional brokers also offer access to international stocks. Unlike CFD platforms, traditional stock brokers provide ownership of the underlying shares. This means that investors are entitled to dividends. It also means that they own a small stake in the company, which usually brings voting rights. Traditional brokers rarely offer the same benefits and tools as CFD platforms. For example, short-selling and leverage. Moreover, traditional brokers charge much higher fees than CFD platforms. Another drawback is that some traditional brokers have high trading minimums. This often requires investors to buy ‘full’ shares. This might not be suitable for casual investors on a budget, considering that popular US shares often trade for hundreds of dollars. We will now review the online stock trading platforms that are listed above. Turkish investors can read on to choose the best stock broker in Turkey for their needs. We rank Scope Markets as the overall best stock broker in Turkey for 2024. Put simply, the platform offers a broad range of stocks that can be traded at 0% commission. There are hundreds of supported stocks from the US markets, including large-cap companies like Apple, Amazon, Tesla, Disney, and Nike. Scope Markets also lists stocks from the UK, France, Germany, Spain, and the Netherlands. This enables Turkish investors to build a diversified portfolio of stocks from multiple global markets. Additionally, Scope Markets supports other asset classes. This includes forex, indices, energies, and metals. The stocks listed on Scope Markets are traded as contracts-for-differences (CFDs). This comes with various benefits, such as being able to go long or short on stocks. Scope Markets also allows Turkish stock traders to apply leverage of up to 1:10. This means that for every $100 staked, $1,000 worth of trading capital is available. Although Scope Markets does not charge commissions, traders need to consider spreads. This is the gap between the bid and ask price of the stock being traded. Moreover, stock positions held overnight will attract swap fees. In terms of payments, there is a minimum deposit of $50. Scope Markets accepts debit/credit cards, bank wires, Skrill, and cryptocurrencies. The latter includes Bitcoin, Tether, USD Coin, and Ethereum. Traders have various options when choosing a trading platform on Scope Markets. It has its own native platform – Scope Trader, which can be accessed via web browsers and a mobile app. The Scope Trader app is available on iOS and Android smartphones. Additionally, Scope Markets also supports third-party platforms, including MT4, MT5, and TradingView. All supported trading platforms come with various tools, including real-time charts and technical indicators. The Scope Market website also offers pip, margin, swap, and profit calculators. It also has an education suite that offers e-books and video tutorials. We also like that Scope Markets is currently offering a 50% deposit bonus of up to $50,000. This requires a minimum deposit of $100, and wagering requirements must be met before the bonus funds can be withdrawn. Scope Markets Scope Markets offers top-notch customer support via live chat, email, and telephone. The platform is regulated by the Financial Services Commission of Belize under the license numbers 000274/325 and 000274/324. Pros Cons
Trading in financial instruments may result in losses as well as profits XTB is a regulated broker that specializes in CFDs. Traders have access to more than 2,100 stocks from multiple global markets. This includes stocks listed in the US, UK, France, Germany, Italy, Norway, Spain, and other European countries. All listed stocks can be traded without paying any commissions. Spreads will apply and will vary depending on market conditions. Minimum trade sizes also apply. For example, US stocks can be traded from $50. UK stocks require a minimum trade of £100. In addition to stocks, XTB also supports ETFs, cryptocurrencies, forex, indices, and commodities. These asset classes can also be traded at 0% commission. Leverage is available on all supported markets. When trading stocks, leverage of up to 1:5 is offered. There is no minimum deposit requirement at XTB, which will appeal to traders on a budget. However, traders must ensure they have enough money in their XTB account to cover minimum trade requirements. Accepted payment types include bank transfers and debit/credit cards, which are processed fee-free. However, e-wallets like Skrill, Paysafe, and Neteller attract a deposit fee of between 1% and 2%. xStation 5 is the native trading suite backed by XTB. It is available via web browsers, as well as a mobile app for iOS and Android. There is also desktop software for Windows and Mac. Traders can get started with a free demo account that comes with $100,000 in virtual funds. This enables traders to test the many features offered by xStation 5. Pros Cons
Contracts for Difference (“CFDs”) are leveraged products and carry a significant risk of loss to your capital AvaTrade was founded in 2006 and is now regulated in nine jurisdictions. This includes licensing in Ireland, Cyprus, Japan, South Africa. Canada, Australia, the UAE, Israel, and the British Virgin Islands. Not only is AvaTrade one of the best stock brokers in Turkey for safety – but it is also one of the cheapest. In a nutshell, AvaTrade does not charge commissions on any of its supported assets. In addition to stocks, this also includes forex, commodities, bonds, indices, and ETFs. That said, spreads will apply. Large-cap stocks trade with an average spread of 0.13%. There are over 620 stocks available on AvaTrade, and most are listed in the US. Some of the most traded stocks include Amazon, Apple, IBM, and Berkshire Hathaway. All listed stocks can be traded with leverage of up to 1:10. Moreover, long and short positions are supported. There is a minimum deposit of $100 for first-time clients. This can be funded with a debit/credit card, bank wire, and e-wallet. AvaTrade supports multiple trading platforms, including MT4 and MT5. It also has its own native trading platforms. AvaTradeGO is its proprietary mobile app for iOS and Android. While AvaOptions allows traders to speculate on options. Pros Cons
Trading CFDs and FX Options entail risk and could result in the loss of your capital. Libertex is a popular online broker that supports dozens of stocks. While most stocks are listed in the US, it also offers a selection of UK and European companies. There are no commissions to pay when trading stocks on Libertex. The spread will vary depending on market conditions. On average, the spread on Amazon and Apple stocks is just $0.19 and $0.12, respectively. Libertex supports leverage of up to 1:10 when trading stocks. It also supports short-selling, allowing traders to speculate on both rising and falling markets. On top of stocks, Libertex also supports other asset classes. This includes everything from indices and forex to cryptocurrencies and commodities. When it comes to payments, Libertex has a minimum deposit requirement of $10. The minimum deposit can be avoided when opting for a bank transfer. However, do note that the minimum stock trade permitted is $20. Other supported payment methods include debit/credit cards, Skrill, and Neteller. Supported trading platforms include MT4 and MT5. Libertex also has a native web trading platform and an app for Android and iOS. Pros Cons
Trading in financial instruments is a risky activity and can bring not only profits, but also losses Pepperstone is one of the best stock trading platforms in Turkey for tight spreads. For example, Apple stock can be traded at a spread of $0.02. Based on current Apple stock prices, that’s a spread of just 0.01%. That said, unlike many online brokers, Pepperstone charges trading commissions on stocks. The commission varies depending on the market. For example, US stocks can be traded from $0.02 per share. UK and Germany stocks can be traded at 0.10%, at a minimum of 7 GBP/EUR. Australian and Hong Kong stocks come with a commission of 0.07% and 0.2%, respectively, at a minimum of 5 AUD and 45 HKD. There is no minimum deposit at Pepperstone, and debit/credit cards and bank wires are accepted. Pepperstone supports multiple trading platforms, including MT4, MT5, TradingView, and cTrader. Pros Cons
81.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. Capital.com is an established online broker that supports over 2,800 stocks. It offers access to many different global markets, ranging from the US, Germany, and France to the UK, Hong Kong, and Singapore. Capital.com has a 0% commission policy on all supported markets. This includes stocks, cryptocurrencies, forex, indices, and commodities. Moreover, spreads are competitive on most listed stocks. The spread on Amazon stock, for example, is just $0.13. Capital.com does not charge any deposit or withdrawal fees, either. The minimum deposit at Capital.com is $20 when using a debit/credit card or a supported e-wallet. But bank wires come with a higher account minimum of $250. We like that Capital.com offers leverage of up to 1:5 on stocks. Higher limits are available on other assets. Capital.com holds licenses in multiple jurisdictions, including the UK, Australia, and Cyprus. Pros Cons
Remember that CFDs are a leveraged product and can result in the loss of your entire capital. Now that we have explained the types of brokers available to Turkish investors, let’s explore how to choose a suitable provider. The best stock brokers in Turkey offer access to a wide range of markets. This usually includes stocks from the NYSE and NASDAQ, such as Amazon, Disney, Nike, IBM, Apple, and Tesla. UK and European-listed stocks are also popular with Turkish investors. Scope Markets offers stocks from the US, UK, France, Germany, Spain, and the Netherlands. Additionally, Turkish investors should check whether ‘fractional’ stocks are supported. This enables investors to buy a small slice of a stock – often at a minimum of a few dollars. This makes it more cost-effective to create a diversified portfolio. Brokers, whether listing traditional or CFD stocks, charge fees. The two most important fees to assess are the ‘commission’ and the ‘spread’. Trading commissions can be flat or variable. For example, Pepperstone charges $0.02 for each US share that is traded. While on UK stocks, Pepperstone charges a commission of 0.10% at a minimum of £7. The best stock broker in Turkey, Scope Markets, does not charge commissions. Instead, traders will simply need to cover the spread. As noted earlier, this is the difference between the bid and ask prices. The most successful stock investors utilize trading tools. For example, short-term stock traders might seek brokers that offer leverage, technical indicators, and chart drawing tools. Long-term investors should look for brokers offering fundamental analysis tools, such as financial news and expert insights. The best stock brokers in Turkey are regulated. Scope Markets, for example, holds a license with the Financial Services Commission of Belize. While XTB is licensed by the UK Financial Conduct Authority. This ensures that investors in Turkey can trade stocks safely. Regulated brokers have know-your-customer (KYC) processes in place. This ensures that brokers comply with their license issuer(s) and do not breach anti-money laundering regulations. As such, all customers of a regulated broker will have had their ID verified. Most stock brokers will provide information about their regulatory status towards the bottom of their websites. This should include the: The investor can then visit the website of the regulator and verify that the broker is licensed. This can be done by searching for the license number on the regulator’s public register. The best stock brokers offer a quality platform that is easy to use. This means that opening an account, making deposits, and investing in stocks is simple and hassle-free. Investors should also consider the quality of the broker’s trading suite. For example, Scope Trader – the native platform of Scope Markets, offers a user-friendly experience for beginners and intermediate investors alike. However, Scope Markets also supports MT4 and MT5 for those seeking more advanced tools. We also found that the best stock brokers in Turkey offer top-notch customer service. We like that Scope Markets offers support via live chat, telephone, and email. Some brokers, however, only offer support tickets, meaning it can take a while to receive a reply. In summary, Turkish investors have lots of options when selecting a suitable broker to match their trading needs and financial goals. We’ve reviewed the best stock brokers in Turkey saving investors and traders time and effort. We particularly like Scope Markets, as the broker offers commission-free trading across hundreds of stocks. We also like that Scope Markets is regulated and that the minimum deposit is just $50. Follow the link below to explore Scope Markets in more detail.
Trading in financial instruments may result in losses as well as profitsBest Stock Brokers Turkey 2024 List
What is a Stock Broker & How Do They Work?
Types of Stock Brokers in Turkey
CFD Stock Brokers
Do Stock CFDs Pay Dividends?
Traditional Brokers
Top Stock Brokers in Turkey Reviewed
1. Scope Markets – Overall Best Stock Broker in Turkey 2024
No. Stocks
Pricing Structure
Fee to Trade Amazon Stock
Min. Deposit
396
0% commission on all supported stocks. No deposit or withdrawal fees.
Variable spread only
$50
2. XTB – Trade Over 2,100 Global Stocks at 0% Commission
No. Stocks
Pricing Structure
Fee to Trade Amazon Stock
Min. Deposit
2,100+
0% commission on all markets. Fee-free deposits via debit/credit cards and bank wires. A fee of between 1% and 2% on e-wallet payments.
Variable spread only
No minimum deposit
3. AvaTrade – 0% Commission Broker With Regulation in 9 Jurisdictions
No. Stocks
Pricing Structure
Fee to Trade Amazon Stock
Min. Deposit
620+
0% commission on all markets. Fee-free deposits and withdrawals.
Spread of 0.13%
$100
4. Libertex – User-Friendly Trading Platform With Tight Spreads
No. Stocks
Pricing Structure
Fee to Trade Amazon Stock
Min. Deposit
50+
0% commission on all markets. Fees are charged on non-bank wire deposits. Credit card (2.5%), Neteller (4%), Skrill (1.9%).
Spread of $0.19
$10 (No minimum on bank wire deposits)
5. Pepperstone – Trade US-Listed Stocks at $0.02 per Share and Super-Tight Spreads
No. Stocks
Pricing Structure
Fee to Trade Apple Stock
Min. Deposit
1,000+
Commissions vary depending on the market. US stocks can be traded at $0.02 per share. UK and Germany stocks can be traded at 0.10%, at a minimum of 7 GBP/EUR
Spread of $0.02
No minimum deposit
6. Capital.com – Trade More Than 2,800 Stocks From Multiple Global Markets
No. Stocks
Pricing Structure
Fee to Trade Amazon Stock
Min. Deposit
2,800+
0% commission on all supported stocks. No deposit or withdrawal fees.
Spread of $0.13
$20 (debit/credit cards and e-wallets). $250 (bank wires)
How to Pick the Best Stock Trading Platform For You
Range of Stocks
Fees
How do You Calculate the Spread on Stocks?
Trading Tools
Regulation and Security
How do You Know if a Stock Broker is Regulated?
Platform Quality
Customer Service
Conclusion
FAQs
What is the most trusted stock broker in Turkey?
How do I find a good stock broker in Turkey?
References
