Changes on the Way in Turkey -CMB Possibly Raising Capital Requirements & Margin
According to Forex Magnates sources, the Capital Markets Board of Turkey (CMB) is evaluating the application of stricter regulations. Proposed

According to Forex Magnates sources, the Capital Markets Board of Turkey (CMB) is evaluating the application of stricter regulations. Proposed rules include an increase of capital requirements for financial firms licensed under the regulator as well as to decrease leverage usage. In terms of the margin proposal, expectations are for leverage to drop to 25:1 from 100:1. Although the leverage limits are expected to greatly impact existing brokers, apparently the CMB is interested in decreasing the number of Turkish brokers operating in the country. Why this is so, isn’t exactly known. Possibly, the CMB believes that in leading a decline on Turkish brokers that currently number in the hundreds to well below that mark; they will nurture a smaller but stronger financial industry.
According to the information gathered from our sources, proposals for the increase in margin are in the advanced stages at the CMB, with a letter to brokers expected soon. However, raising capital requirements has still a ways to go before being applied. If implemented, the changes would be the first major policies applied since the CMB decided to regulate the forex market in 2011. At the time, the new regulation drove out foreign firms and led to a sharp decline in trading volumes. Since then though, as new firms have received licensing from the CMB as well as many foreign brokers partnering with local companies, volumes have rebounded back above pre-regulation levels.
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Thus we will see a large migration towards Cyprus
not really because then they can’t solicit Turkish clients, CMB is quite aggressive about it. one thing if you are a foreign broker who doesn’t care about CMB another if you are turkish based but operating out of Cyprus.
also don’t forget Cyprus is a taboo for Turks
not possible. Since it’s not allowed to transfer money between Turkey-Cyprus as per banking system. Only CC funding would not be enough for a large migration.
well you can always do an indirect transfer, also you can have brokerage account in cyprus and bank account in switzerland (considering today’s news, it’s the only option..)
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