Turkish regulator to sue binary options brokers and block their websites
Ever since Turkish regulator CMB (Capital Markets Board) blocked forex brokers from soliciting local clients without getting a local license
Ever since Turkish regulator CMB (Capital Markets Board) blocked forex brokers from soliciting local clients without getting a local license many of them have simply shifted to offering binary options which they thought weren’t of interest to CMB.
CMB however had different view on this matter and has moved quickly to cumber the excessive binary options marketing to Turkish clients.
Join the iFX EXPO Asia and discover your gateway to the Asian Markets
Suggested articles
Royal C Bank on Why Crypto is Still the Name of the GameGo to article >>
CMB published the following document http://www.spk.gov.tr/apps/haftalikbulten/displaybulten.aspx?yil=2012&sayi=23 mentioning that it deemed several binary options brokers as committing a crime and will sue them as well as require local ISPs to block access to these websites for Turkish citizens.
CMB named:
- www.optionfair.com (IP No: 85.159.234.47)
- www.optionrally.com (IP No: 24.27.250.49 and 24.27.250.9)
- www.tradesmarter.com (IP No: 79.125.7.162)
- www.vopsiyon.com (IP No: 80.252.94.92) vopsiyon’s website was taken down and CMB’s warning was published on it, all clients are asked to withdraw their funds. This is probably the
- www.anyoption.com (IP No: 89.191.219.193 and 89.191.219.194)
- www.multiyatirim.com (IP No: 80.252.94.32) another broker based in Turkey – it site is now inaccessible, potentially its server was taken down by CMB as well
It seems CMB is taking this matter very seriously and renders binary options as non-financial market instrument hence categorizing it as a gambling product. CMB already filed complaint with local prosecutor and is going after these brokers and potentially after others as well.
As an authority in binary options in Turkish market, yes, CMB is taking this matter seriously and they have no tolerance for income without taxes. But all they can do is to shut Turkish brokers down. They can not regulate foerign companies anyway But block their internet access via ISPs.
There is nothing to worry about blocking the access because there are very clear ways to get access to. Locked sites.
http://www.ikiliopsiyonrehberi.com
How do you fund/withdraw forex/binary brokers from Turkey?
bank accounts outside turkey, e-processing, not a big issue.
But is Binary options and CFD trading legal in Turkey for brokers with a licence or is it illegal no matter what? Or is it allowed for brokers with a licence?
Thanks,
John
When choosing a binary options broker the main thing is to see with the black list. At first I almost invested in a copy of a well-known broker. Be careful. binaricum.ru/black.php
BINARY OPTIONS CREDIBLE?
Binary options industry in the last 2 years has evolved a great deal. Currently there are more than 600 brokers worldwide and it is difficult to choose a safe brokerage. binaryswap.com also tried brokers we offer you to compare post-op.