It seems CMB is taking the forex licensing process seriously and has already approved 7 forex brokers. Tacirler Securities and Anadolu Securities join the previously approved 5 other brokers:

• Integral Securities (former Ulukartal Forex)

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• İş Yatırım (İş Bank owned broker)
• Turkish Yatırım (Turkish Bank owned broker)
• Gedik Securties
• Finans Invest Securities (owned by finansbank)

It’s interesting to see that from the original list of 7 brokers allowed to operate under a temporary license not all of them were officially approved. Destek Securities and XTB are still pending an approval while Tacirler Securities and Turkish Yatirim who didn’t appear on the initial list have already received an approval.

We obtained some information about Tacirler Securities which demonstrates the size of players CMB is approving:

Tacirler Securities, established by the partners of Tacirler Holding A.Ş. consists of 13 different companies in the fields of finance, commerce, construction and industry. It’s the biggest non-bank broker in Turkish Market and has over 200 employees.

Tacirler Securities services its customers from its headquarters in Istanbul and from 18 branches in Turkey plus a liaison office in the Republic of Northern Cyprus.

Some additional metrics:

• 100+ Million TL Owned Capital
• 13,000+ Active accounts
• $361 Million under custody
• Total Volume on Shares : 40 Billion TL
• Overall Values of the Accounts : 775 Million TL