Turkish Broker - Futures-derivatives

Anyone knows a Turkish broker that offer futures on currency?


Thanks

Biggest exchange where futures on currency are traded = CME (Chicago Mercantile Exchange). If you go to their website ( www.cmegroup.com ) => Trading => Find a broker, you have a list of around 250 brokers that gives you access to the CME. You can filter by countries, and none is from Turkey. So doesn't look like there is one (at least, if there is, it's not listed on the CME's website, which I would expect if it gives access to that exchange).

Stupid question: Why would you want it in that particular country ? (or is the question another one ?)

I want to have access to EURTRY FUTURE that I heard that exist but I don't know how can I get access to it. Turkey should be the place for a broker with this product ...
thanks

Ok, you should have said that in the beginning. If a futures contract exists, the location of the broker is pretty irrelevant.
I didn't research it to be 100% sure but I highly doubt an EUR/TRY futures contract exists. That's an "exotic" pair not very traded. Not enough volume to even bother creating a futures contract on it.

On to the next logical question (which you probably could also have explained at the very beginning): Why do you want to have access to a "futures" rather than to trade the pair with a forex broker ? (because, that, you CAN do !) Just for information, if you didn't know, futures will be quite huge, usually 100K or 125K with no possibility of trading smaller "lots" (meaning 1 or 1.25 "MT4 lots", nothing smaller possible).

Now, as I see it coming: If it is to not "pay swaps", you can forget the idea, you DO pay swaps with a futures, it's just embedded in the futures price. Or is there another reason why you came up with this ?

RelaxTrading, I stand corrected: I searched because I wanted to make sure and the Turkish Stock exchange ("Borsa Istanbul") offers EUR/TRY futures contract On top of that, they made them very small (1000 EUR, so that's equivalent to a MT4 "micro-lot"):
http://www.borsaistanbul.com/en/prod...ur-try-futures

So you are kind of mostly correct here that a Turkish broker will be what you need, as you need to be able to have access to the turkish exchange (I was reasoning with widely accessible exchanges in mind, like the CME for example).

Here is where you will find the more easily what you're searching for: http://www.borsaistanbul.com/en/members/members-list
EDIT: That's even a filtered list. There are 64 companies listed as "brokers" offering derivatives: http://www.borsaistanbul.com/en/memb...-list?g=1&y=21

Mevo
Thanks for your help

The main reason to trade EURTRY on futures is to try to avoid the terrible spreads that I am suffering with fx brokers that charge me from 20 to 50 pips,. I think that futures should have a much better spread.
I also checked the list of turkish broker but is huge to be check it specially contacting broker that many of them don't speak english.

There are few brokers..I am doing a research on it. Looks promising ..

In regards to Turkish brokers, you do know that the local regulator capped the leverage to 1:10 and set a minimum deposit of TRY 50,000 last year, right?
That’s even worse than what ESMA’s doing in the EU.

I didn't know that

After some research I found brokers that offer futures accounts VIOP but they don't accept foreigners. You need to be resident with a TAX number.

I don't understanding... Istambul Borsa made product for investors, like any other provider around the world,.. I assumed that they want to make as much business as possible so why is not possible for me to open an account ?

There must be a broker that offer VIOP for none Turkish...


Anyone knows something?

USDTRY is common, with a much lower spread and you can trade it on good brokers like LMAX.

Catch-22
Thanks for the info but I need a regulated future contract like those that Istambul borsa trade.