How to Choose a Forex Broker?
Last updated: 2026-06-19 · FXŞikayetvar Editorial Team
The first rule of choosing a reliable forex broker is regulation: in Türkiye, legal trading is only possible through SPK-licensed intermediaries. The criteria below help you assess a broker’s reliability.
Broker selection criteria
- SPK license: Verify the institution is authorized by the SPK.
- Regulation quality: Tier-1 regulators (FCA, ASIC, CySEC) are safer than offshore licenses.
- Leverage: The SPK cap is 1:10. Excessively high leverage is a warning sign.
- Costs: Compare spreads, commissions and deposit/withdrawal fees.
- Withdrawal history: Check the concentration of withdrawal issues in complaint sections.
- Transparency: There should be an imprint, license number, and genuine contact and address details.
- Platform: Established platforms such as MT4/MT5 and a demo account option.
You can review our FX Trust Score list, which evaluates all brokers against these criteria.
Frequently Asked Questions
The most important criterion is regulation. For legal trading in Türkiye an SPK license is required; SPK-licensed institutions are subject to supervision and investor-protection rules.
No. The SPK caps leverage at 1:10. Platforms offering very high leverage such as 1:500 are usually unauthorized and carry higher risk.
Yes. The volume and resolution rate of complaints, especially about withdrawals and customer support, is an important trust signal.