Turkish Regulator to Criminally Charge Teletrade Turkey

Turkey’s financial regulator has announced that it has investigated the operations of Teletrade Turkey and will be putting a criminal case against the firm. In a statement on its website, the financial authority outlines the fact that Teletrade was operating and conducting financial services activities without approval from the regulator.

The investigation comes on the back of SPK’s recent proposal to make changes to capital requirements for brokerage firms in the world’s 18th largest economy. In a document on the regulators website the SPK explains that its Capital Markets Unit carried out a thorough investigation into the workings of Teletrade and highlights two individuals; Hüsnü YILDIZ and Hakan KAPLANLI as perpetrators.

The SPK officially regulated Leveraged Foreign Exchange in August 2011 after much discussion, research and red tape. The regulator gave broker dealers strict parameters to operate in; including high capital requirement, reasonable margin and Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term (100 to 1) offerings and limited products (FX only). In addition, introducers and Affiliates Affiliates Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Read this Term were also required to seek regulation and hold a set amount of capital.

The SPK has been known for its enforcement and action against unregulated firms. In October 2011 the regulator made an announcement that it had sanctioned 32 websites from providing content about foreign exchange, the list included firms such as; finexo, migbank, etoro, instaforex and several other firms.

Teletrade has been active in financial markets for over 15 years, on the firm’s website they state that they have been in the market since 1994. Their Turkish office has been active since the mid 2000’s.