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FBS Forex Broker Turkey – Forex Brokers

Strategically located on the Anatolian Peninsula, Turkey is a nation with a rich cultural heritage and colorful historical timeline dating back to the 13th century. The country has served as both a bridge and a barrier between Europe and Asia throughout its long history.

Turkey recorded impressive economic growth in the early 2000s, which led to higher employment and income rates.

In 2018, the country was hit by a severe financial crisis characterized by high inflation rates and devaluation of the local currency, the Turkish Lira (TRY), which fell by almost 30%.

Turkey’s diverse natural resources and its emerging market economy have helped transform it into a growing hub for financial activities and international investment. As a result, it has strong trading partners in the face of significant economic powers such as China, Russia, the United States and Germany.

With a diverse and relatively young population, many locals are looking for new ways to generate extra income. Many choose to trade in the Forex market, which is strictly regulated locally. In addition, the Turkish authorities have been introducing stringent regulatory measures for years, making it difficult for international brokers to enter the local foreign exchange scene.

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Turkey Forex Legislation

Forex trading is legit in Turkey, but brokers have to go through a cumbersome licensing process to get approval from the Turkish authorities. It is strictly forbidden to operate in this market without a license from Turkey’s local regulator, the Capital Markets Board (CMB). In addition, the country is not a member of the EU, which makes it impossible to serve Turkish traders with licenses issued under other European jurisdictions.

The financial sector is subject to the Capital Markets Act, which has seen numerous amendments. The country has had a legal share of forex scams, which has led local authorities to take stringent regulatory measures against brokerage firms.

In 2011, new laws were enacted to prevent unlicensed brokers from providing services to Turkish citizens effectively. In addition, stricter restrictions have reduced the uncertainty faced by local investors so that they can actively participate in the trading market without fear of being deceived by scammers. An investor protection fund was also created.

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  • Website: fbs.com
  • Country: Belize
  • Regulation: CySEC, IFSC
  • Established: 2009
  • Maximum Leverage: 1:3000

Best Forex Trading Brokers

We offer you a powerful tool to compare Forex brokers by regulation, trading instrument, spread, Leverage, trading platform, deposit amount, payment method, and supported languages.

FBS Forex Broker Turkey – FBS Forex Broker

Launched in 2009, FBS is an online trading broker that operates Forex trading in over 120 countries. Its customers’ trading tools are Forex, CFD, and Precious Metals.

The trading broker is owned by FBS Markets Inc, a company based in Belize. Belize’s International Financial Services Commission is the main regulatory body but has 10 other regulators approved its activities.

There are two available platforms for dealing with the company – MetaTrader 4 and MetaTrader 5. Available on both mobile devices, desktops, PCs, and Macs. FBS is the only broker that provides Leverage up to 1: 3000, with 3 spreads (zero spreads, floating spreads, and fixed spreads) depending on the type of account you are opening.

Your minimal deposit is 1, and you can pay using VISA, MasterCard, Maestro, Skrill, Neteller, or Wire Transfer. No procedure comes with a fee except wire transfer, and all processing time is instantaneous, which may take 3-4 working days.

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FBS is fully regulated by the International Financial Services Commission of Belize. The IFSC is the largest financial regulatory body in Belize, a small country in South America. It is responsible for overseeing all financial institutions and brokers operating under the jurisdiction of Belize. This government agency has licensed many brokers and exchanges since its inception in 1999. Companies and individuals licensed by the IFSC have an excellent track record and adhere to the Agency Code of Conduct.

Trading Platform

  • Meta Trader 4 – Available on Windows, Mac, Smartphones, Tablets
  • Meta Trader 5– Available on Windows, Mac, Smartphones, Tablets

On FBS, you can engage in different trades using two available platforms. The two platforms are MetaTrader4 and MetaTrader5. Both are made by Cypriot Forex trading software company MetaQuotes Software.

Using MetaTrader4, you will have access to over 40 different assets available for trading, including currency pairs, CFDs and metals, and low spreads. This platform is open on other systems like Windows, Android, and iOS. It has the option to manage multiple accounts at the same time using multi-terminal programs. In addition, MT4 supports in-browser access, allowing you to manage your trades directly from your browser window. The web version can run on any modern browser, including all commercial ones like Google Chrome, Safari, Opera, etc.

MetaTrader5 brings its unique advantages. For starters, you will have three different types of charts and technical analysis tools in the form of 50 indicators and charting tools. In addition, you can also benefit from optional micro-lot accounts and hedging positions. Plus, you’ll be getting VPS support all the time. The MetaTrader5 platform can be downloaded on three different systems, notably Windows, Android and iOS. Like MetaTrader4, MetaTrader5 also supports a web version that lets you access the platform directly from your browser.

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FBS Forex Broker Turkey – Account Types

FBS offers its users a variety of accounts, for each specific type of trader. As a result, they vary in minimum deposit, Leverage, spread, and order volume.

The Standard Account

Standard accounts are meant for average traders. It has a minimum deposit of $ 100, spread from 1 pip, Leverage up to a maximum of 1: 3000, and an order volume between 0.01 and 500 lots. No commission is charged on such accounts and the maximum open position and pending order limit is set at 200.

The Cent Account

The Cent Account is a must have, for any Affiliate, promoting any program. It has a minimal deposit requirement of 1, Leverage up to 1: 1000, a floating spread from 1 pip, and an order volume between 0.01 and 1000 cents lots. In addition, cent accounts are completely commission-free, and their holders can have a maximum of 200 open positions and pending orders.

The Micro Account

The micro account has a minimum $ 5 deposit and a fixed spread feature from 3 pips. In addition, micro account holders can benefit from Leverage up to 1: 3000 and order volume between 0.01 to 500 lots. As with the previous two, micro accounts are commission-free, and the most open positions and pending orders are 200.

The Zero Spread Account

The Zero Spread account is for traders who want to trade fast. Traders need to deposit a minimum of $ 500 to open such an account. Just like its name, the spread is fixed at 0 pips. Unlike previous account types, it has a commission starting at $ 20 per lot. Zero spread account holders can trade with a leverage of up to 1: 3000 and an order volume of 0.01 to 500 lots. Users can have up to 200 open positions and pending orders.

ECN Account

ECN account holders can take full advantage of ECN technology. This type of account requires a larger initial deposit than others – 1000. It has a floating spread from -1 pips and $6 commissions per lot. ECN account holders can easily trade with Leverage up to 1: 500, and there is no limit on the number of open positions and pending orders. They are limited in size, however, from 0.01 to 500 lots.ECN accounts can only trade with 25 currency pairs instead of 31 pairs and two metals found in other accounts.

Unlimited Account

Unlimited account is the latest type of account. It has a minimum $ 500 deposit and a floating spread from 0.2 pips. Traders can enjoy Leverage up to 1: 500 and there is no limit on the number of open positions and pending orders. Moreover, no commission will be taken from them. However, order volume is limited to 500 lots.

FBS Forex Broker Turkey – Turkey Forex Payment Methods

It is recommended that new Turkish traders first establish a foundation by trading with virtual credit through a demo account. Then, those already familiar with the Forex market can register a live account and finance them with real cash.

As we previously explained, users need a starting capital of 50,000 USD or more, at least if they join CMB-regulated brokerages as is recommended. There are several ways to transfer some funds to your live account, but bank transfer is the most broadly available option. It might sometimes take a few of business days until the deposited amount arrives in your real-money balance.

The country’s most widely used banking system is a credit card, accounting for 74% of all payments made in 2018. However, debit card usage is less than 6% of all transactions in the same year.

Nevertheless, both options are unique to the payment system of Turkey-friendly Forex brokerages. Traders have the option to deposit in Visa, Maestro or MasterCard. One option for those who are reluctant to pay directly with their card is to use an e-wallet.

Some brokers adopt BKM Express, a popular e-wallet in Turkey that enables users to link to their debit or credit card. It can be used for online and mobile purchases. However, the process of depositing with BKM Express is not easy.

Trading commodities and their specifications

Commodity markets have always had a huge economic impact on people and nations. Indeed, it is known that commodity transactions were extensive in the past. It is suggested that the future of rice may be traded back to China. And of course, when a certain product was short, even wars spread. On the other hand, excess supply can mean only one thing – the product’s devaluation.

There are 4 categories of commodities and they include;

  • Energy (heating oil, heating oil, including crude oil, gasoline, natural gas)
  • Metals (including gold, silver, copper and platinum)
  • Livestock and Meat (pork bellies, feeder cattle , lean hogs, live cattle)
  • Agricultural (rice, cotton, sugar, soybeans, corn, wheat, cocoa, coffee)

Investment Characteristics

Exchange commodity trading may require agreed standards, which means that trading can be conducted without visual inspection. Naturally, you don’t want to purches 100 units of “something” to find out that it’s not good or to discover that the money you paid is unacceptable for such quality.

Many other ways of investing and trading in commodities can differ from traditional securities such as bonds and stocks. For example, technological advances and global economic development and market demand for commodities strongly affect the prices of major commodities like copper, maize, sugar, oil, and aluminum.

The Gold Standard

Remember that direct investment in certain products can be very risky. However, some dramas are more sensitive and widespread. For example, bearish or volatile markets are usually where investors try to transfer money to a precious metal like silver, which is reliable with a portable price. On the other hand, if money is lost in this market, investors can make good returns by trading precious metals, which can be used easily to hedge against high inflation.

Energizing the Market

Power plays are also really important in the case of products. Oil prices could rise further as global oil production declines. However, from an optimistic point of view, oil prices should be tempered with some consideration. Therefore, the economic changes made by OPEC and technological advances aimed at replacing crude oil as a major energy source could be a good investment idea.

FBS Forex Broker Turkey – FBS Exchanges

As products play a significant and sometimes significant role in the global economic market and our lives, there are plenty of futures and commodity exchanges on the global front. Each exchange carries several products, or, in other cases, specializes in a single product. For example, the US Futures Exchange contains only energy products. The most popular exchanges are CME Group, Intercontinental Exchange, Kansas City Board of Trade, and London Metal Exchange.

Regulatory Compliance

Every reputable forex broker in the United States will be an honorary member of the National Futures Association and will be registered with the Commodity Futures Trading Commission. The first acronym – NFA – is a self-regulatory and industry-wide body for futures trading in the United States. It develops and creates programs, services, and rules that aim to protect the integrity of traders, investors, and markets’ integrity and help members. The second acronym – CFTC represents an independent government agency that controls the commodity options and futures markets. Its main goal is to protect market users from fraud.

Leverage and Margin

Forex traders get access to a variety of leverage amounts depending on the broker – numbers start at 50; 1 and can go up to 250; 1. Leverage is a loan extended by brokers to margin account holders. If this sounds too complicated to you, here is a practical example – if you use 50; 1 leverage and have 2000 USD in your account, it means you can hold a position worth 100 USD. Leverage works for the trader, but you have to be careful because it can destroy you as fast as you win.

Commissions and Spreads

Each broker must win a certain amount of money for its services. This happens through spreads and commissions. Each broker that uses commissions can charge a certain percentage of the spread. However, many brokers have ads that they have no commission and this is why they are making their money with big spreads. For example, the spread can be fixed at 3 pips (the minimum unit of price change in the Forex market that Pip represents), or the spread can be volatile and bound to market volatility.

FBS Initial Deposit

The good news is that most Forex accounts can be financed with very little money, so you don’t have to be a millionaire to get started. All you need is $ 50 (depending on the broker, each broker has announced a minimum starting sum). But, of course, with a strong helper like Leverage, your purchasing power of money will be multiplied and you will be able to bid more – which is why Forex trading is so attractive – so take care of the initial deposit.

FBS Forex Broker Turkey – Support

FBS Broker has an incredibly large customer support team with a huge user base, spread across twelve offices in seven different countries. The countries in question are Egypt, Malaysia, Thailand, China, Indonesia, South Korea and Myanmar. Although, each office can be reached via email and telephone, some offices support communication via Facebook and Skype.

In addition, you can always engage in a live chat with a company representative directly from the trading website. The company also has a presence on social media so you can get your answers there. Support is available 24 hours, 7 days. The company wants to offer the best possible customer support to its users and it has certainly achieved a lot in this regard.

FBS Forex Broker Turkey – Conclusion

Overall, FBS can be summed up as a trusted broker with a good reputation for providing contracts (CFDs) and trading facilities in the global market for shares, forex, commodities, cryptocurrencies, ETFs, options and indices.


Trading futures, forex and over the counter (OTC) products offered by Pacific Financial Derivatives Limited, Company # 973842 as Contract for Difference (CFDs) is inherently speculative and unsuitable for all investors.

Investors should only use risky capital when trading futures, forex and CFDs as there is always a substantial risk of loss. Therefore, it is important that traders carefully consider their motives, financial situation and level of experience.

Market conditions, system performance, quote delays, and other factors may adversely affect account access, trade execution, and system response. Therefore, according to research, investors are advised to seek independent advice before trading.

FBS Forex Broker Turkey – Frequently Asked Questions

How many instruments can I trade with FBS?

FBS Broker gives you the option to trade over 35 Forex currency pairs, 4 precious metals, 3 CFDs and 4 cryptocurrency CFDs. Although the range of tradable assets offered is less than that of some brokers, the range of markets available for trade-in is wide.

Which platforms are supported by FBS?

FBS supports the following trading platforms:

  • MT4
  • VPS
  • MT5
  • FBS Trader

Does FBS provides Leverage?

Yes, FBS offers standard leverage ratios of up to 1:3000.

What spreads can I expect with FBS?

The standard spread for a standard EUR / USD pair is 0.9, and for a cent account, the USD/EUR spread is 3 pips.

Does FBS charge a commission?

No, FBS makes a profit off the spread

Is FBS Broker regulated?

Yes, FBS is regulated by CySEC

Is FBS broker a recommended forex trading broker for experts and beginners?

Yes, FBS offers a good trading environment for all trading levels