Turkey’s prime minister vowed to disrupt the use of social media channel, twitter. However, FX traders were unaffected as they haven't caught-on to advantages of the real-time news source, like their peers across the globe.
In a move to dysfunction one of the world’s most popular social media channels, Turkey's controversial Prime Minister, Tayyip Erdogan, implemented a ban on the use of twitter in Turkey. The sanction had little or no effect on the 15,000 plus FX traders who are yet to take heed of twitter for trading, unlike traders in other regions such as the UK, who eat, sleep and drink twitter for FX.
Industry estimates suggest that there are over 10 million users of twitter in Turkey, the country has an internet savvy population with over 40% using Facebook. However, the county’s investor community has been slow to adopt the new generation of communication channels for news and sharing of trade ideas. “Turkish traders are slightly old-fashioned when you compare them to those in Western countries,” explained Saffet Ulker, a spokesperson for Integral Menkul, one of Turkey’s largest currency derivatives broker.
Brokers in Turkey saw little or no impact in trading activity, "It was business as normal," explained one Istanbul-based FX broker.
To the advantage of traders in Turkey, twitter is not as prominent or widely used, otherwise things could get tough for the trading community. One Istanbul trader commented to Forex Magnates about the use of social media: “twitter is common in Turkey, but it’s used to check the latest political news, for trading I commonly use news sites to stay on top of what data is due and the effects of it.”
Although the current use of twitter is low for currency trading, data from accounts held by FX brokers and financial news sites shows that there is scope for the concept to grow. Several FX brokers' twitter handles have over five thousand followers. In addition, brokers have been active despite the ban on twitter.
Twitter and financial markets are becoming a common duet as the use of real-time information is key when traders are making trading decisions. However, it has had its fair share of bad press, in April 2013, the Associated Press Twitter account was hacked, and a counterfeit tweet was published which had detrimental effects on the markets. The foul tweet sent the markets into a dilemma wiping $136.5 billion off the S&P 500 and the US benchmark index, the Dow 30 dropped 150 points.
The ban on twitter fell short with Turkish users using VPNs and DNS systems to bypass the ruling. The word ‘turkey twitter banned’ resulted in over 200 tweets in one hour.
Turkey's FX market has seen a proliferation of broker-dealers, the latest figures show that 31 brokers are active in the country. To learn more about the uses of social media tools in Turkey's FX industry, you can attend Forex Magnates' upcoming Turkey FX Conference. Registration and entry are free.
In a move to dysfunction one of the world’s most popular social media channels, Turkey's controversial Prime Minister, Tayyip Erdogan, implemented a ban on the use of twitter in Turkey. The sanction had little or no effect on the 15,000 plus FX traders who are yet to take heed of twitter for trading, unlike traders in other regions such as the UK, who eat, sleep and drink twitter for FX.
Industry estimates suggest that there are over 10 million users of twitter in Turkey, the country has an internet savvy population with over 40% using Facebook. However, the county’s investor community has been slow to adopt the new generation of communication channels for news and sharing of trade ideas. “Turkish traders are slightly old-fashioned when you compare them to those in Western countries,” explained Saffet Ulker, a spokesperson for Integral Menkul, one of Turkey’s largest currency derivatives broker.
Brokers in Turkey saw little or no impact in trading activity, "It was business as normal," explained one Istanbul-based FX broker.
To the advantage of traders in Turkey, twitter is not as prominent or widely used, otherwise things could get tough for the trading community. One Istanbul trader commented to Forex Magnates about the use of social media: “twitter is common in Turkey, but it’s used to check the latest political news, for trading I commonly use news sites to stay on top of what data is due and the effects of it.”
Although the current use of twitter is low for currency trading, data from accounts held by FX brokers and financial news sites shows that there is scope for the concept to grow. Several FX brokers' twitter handles have over five thousand followers. In addition, brokers have been active despite the ban on twitter.
Twitter and financial markets are becoming a common duet as the use of real-time information is key when traders are making trading decisions. However, it has had its fair share of bad press, in April 2013, the Associated Press Twitter account was hacked, and a counterfeit tweet was published which had detrimental effects on the markets. The foul tweet sent the markets into a dilemma wiping $136.5 billion off the S&P 500 and the US benchmark index, the Dow 30 dropped 150 points.
The ban on twitter fell short with Turkish users using VPNs and DNS systems to bypass the ruling. The word ‘turkey twitter banned’ resulted in over 200 tweets in one hour.
Turkey's FX market has seen a proliferation of broker-dealers, the latest figures show that 31 brokers are active in the country. To learn more about the uses of social media tools in Turkey's FX industry, you can attend Forex Magnates' upcoming Turkey FX Conference. Registration and entry are free.
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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