Categories
Categories
Jezzy Ashton
by on February 20, 2020
135 views
Introducing the CMBT
You’ve presumably discovered of the more popular regulatory bodies such as the FCA, CySEC, and BaFIN. But some of you have heard of the CMBT? CMBT stands for the Capital Market Board of Turkey and this is the regulatory company liable for the financial markets in Turkey. It is accountable for monitoring and maintaining the operations of the financial market, protecting consumers and managing stock market members. The Board was founded in 1982, but it is only lately that it has grown very engaged with CMBT regulated brokers. It was built following the Capital Markets Law in 1981 and has also been the topic of several additional regulations and declarations which worked to extend its uses. It’s not important to name them all but we should discuss the most notable difference observed Law No. 4487, which was declared at the end of 1999. A set of revisions were joined to the Capital Market Law to enlarge the range of the Board and its responsibilities. The modifications involved making the markets more adaptable and able to utilize information technology, enabling the dematerialization of stocks, and improving security for consumers.
Forex trading in Turkey and CMBT Forex brokers
Since 2011, Forex trading and brokers in Turkey have been monitored by the CMBT. The Board also forbids non-licensed Forex brokers in Turkey from operating retail investors’ trades. The ban was proposed to restrict the doubt which had taken grasp of the Forex trading market. Originally, the news wasn’t taken very well by the unauthorized brokers which made up a huge part of the market, as it would mean having to adhere to very strict laws formed to manage activities. Turkish Forex traders embraced the new laws with open arms as they were weary of the changes. It had been a regular event for brokers to go bust and lose their client's money. Not so with the new ordinances as authorized and regulated brokers needed to hold insurance in a contract and custody bank.
Read IQ Option Review Turkey 2020 for more details about Forex Trading in Turkey.
https://www.forextradingturkey.com/iq-option-turkey-review/
Posted in: Finance
Be the first person to like this.