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.
Volatility eased as traders focused on the world economy and corporate earnings after a week dominated by the dramatic spike in tensions over North Korea, which triggered a global sell-off before prices bounced back Monday.
Investors greeted the more conciliatory tone after US stocks dropped three days in a row last week on President Donald Trump's vow of "fire and fury" if North Korea continued to pursue its nuclear weapons and ballistic missile programs.
The ultra-conservative kingdom has moved to diversify its traditionally oil-dependent economy following a sharp fall in crude prices.
In its monthly report on the global oil market, the International Energy Agency said, however, that it believes the supply glut is easing, partly because demand is growing faster.
US stocks have been in retreat since President Donald Trump Tuesday issued a fiery warning to North Korea to halt its nuclear program.
The move by one of Japan's best-known firms greatly reduces the chance of an embarrassing delisting from the Tokyo Stock Exchange (TSE).
London's benchmark FTSE 100 index weakened by 0.5 percent to 7,503.39 points.
The approval by the European Commission comes just over two months after the European Central Bank -- which took on the role of the eurozone's banking supervisor in 2014 -- allowed the sale to go ahead for a symbolic fee of one euro.
BP, Chevron, ExxonMobil, Shell and Total have all published results in recent days, showing they pocketed $23 billion in net profit in the first half fo the year.
Higher cereal, sugar and dairy prices pushed food price index by 10.2 percent annually in July
HSBC was also a big riser, gaining three percent at £7.65 ($10, 8.5 euros) in late morning trade after the British banking giant announced a share buyback plan alongside a rise in first-half profits.
Both main crude contracts made strong gains, with WTI testing $50 a barrel for the first time since late May and Brent heading towards $53, while mining giants BHP Billiton and Rio Tinto saw their share price rise as commodities strengthened.