Kapital Investment Group (KIG BV), a part of the international financial services provider Global Kapital Group (GKG), announced today that it has acquired Isik Menkul, a leading multi-asset broker in Turkey.
The press release shared with Finance Magnates states that the company is planning to expand its product range through the recent acquisition of Isik Menkul.
Isik Menkul has a strong presence in the Turkish region. The broker offers trading services in a broad range of financial products including FX, commodities, CFDs, futures and stocks.
The Turkish broker is regulated by the Capital Markets Board of Turkey (CMB). With the latest acquisition, Kapital Investment Group will be able to operate in Turkey.
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Commenting on the recent acquisition, KIG BV Chair of the Board, Engin Çubukçu, said: “The acquisition of Işık Menkul marks one of the most important steps so far towards our goal of becoming a multi-asset investment platform. As a top-tier financial institution with a significant share in Turkish capital markets, Işık Menkul serves more than 26,000 clients in Turkey, providing a gateway into the Istanbul Stock Exchange (BIST) while offering futures, FX, commodities and CFDs for trading.”
Turkish FX Market
Foreign exchange trading in Turkey has grown rapidly in the last few years. In the latest announcement, KIG BV highlighted the importance of the Turkish market for the global expansion of the company.
“Turkey is one of the most important markets in the MENA region, as it is highly developed and very competitive. Entering the Turkish market with a financial institution with such strong credentials will give us a significant advantage over our competitors. Işık Menkul is a company that prioritizes transparency, a key point in the establishment of a loyal client base. It is also a pioneer being the first zero commission stockbroker in Turkey which has helped it establish strong brand recognition, crowning its already highly reputable brand image,” Çubukçu concluded.