In Türkiye, forex may only be offered legally through SPK-authorized intermediaries. Global brokers regulated abroad are not technically “illegal”, but they do not hold SPK authorization in Türkiye.
What does SPK authorization mean?
SPK authorization means a 1:10 leverage cap, minimum margin, a suitability test, and a complaint/redress channel. This protection exists only at SPK-licensed institutions.
Is a foreign license enough?
Regulators such as the FCA, ASIC or CySEC provide serious oversight; however, those licenses do not bring SPK protection to an investor in Türkiye. In a dispute, the foreign authority and law apply, and recovery becomes harder.
Practical consequences
Trading with a foreign broker carries high risk: there is no local investor protection, and tax and legal processes are complex. Before you trade, check the broker’s SPK status and FX Trust Score.