World Bulletin / News Desk
Canikli said the Turkish government was fully entitled to introduce laws to bar its citizens from executing transactions via forex brokers operating outside the country.
“There will be legislative efforts over the following days. If Turkish citizens visit -- without permission -- an internet site or domain abroad, which provides foreign exchange trading services, we will block access to those sites," Canikli said.
"We will not allow any such access which would mean bypassing a regulation in place."
The Capital Markets Board of Turkey had announced on Feb. 10 a new set of measures in a bid to protect small investors from high FX volatility in markets. Accordingly, traders are now required to place a minimum account deposit of 50,000 Turkish liras ($13,400), while maximum leverage has been restricted to 10:1.
Leveraged FX trading enables investors to trade in amounts much higher than their current deposits. But high leverage in these markets is risky business, which usually results in small and novice investors losing all their deposits.
The profit/loss ratio of FX trading accounts has been around 4:1 recently.
BIST 100 index goes down 1.39 percent at close; Turkish lira continues to decline against other currencies
Salt Lake storage facility aims to have capacity of 5.4 billion cubic meters by 2023
BIST 100 falls 0.50 percent; US dollar/Turkish lira exchange rate stands at 4.7560
Treasury reports central government debt stock in April rises 15.8 pct year-on-year, reaching $226.8 billion
Trade Commissioner Cecilia Malmstrom spoke ahead of talks of the EU's 28 trade ministers to discuss an attempt to woo the US away from punishing steel and aluminium tariffs and win Europe a similar break as handed China.
BIST 100 rises 0.45 percent; US dollar/Turkish lira exchange rate stands at 4.5760
Sberbank of Russia will cease to be shareholder in Denizbank, fifth-largest private bank in Turkey
Assets abroad up 1.1 percent March 2018 end, from end of 2017, says Turkish Central Bank
BIST 100 falls 0.24 pct; US dollar/Turkish lira exchange rate stands at 4.5500
His comments came after a joint statement issued in Washington said Beijing had agreed to reduce its trade deficit, "significantly" increasing purchases of American goods.
Euro area goods trade surplus reaches over $60B, EU28 deficit at $7.5B, official figures show
Property sales in April down 9.9 pct year-on-year, according to official data; sales to foreigners surge 25.8 pct
European stock markets meanwhile rose as the euro weakened against the dollar, but Wall Street pulled back in early New York trading.
BIST 100 climbs 0.44 pct; foreign currency exchange rates rise against lira