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.
Net profit rose 28 percent to $4.8 billion while revenues edged up eight percent to $22.1 billion in the quarter ending March 31, Microsoft said.
The group reported a net loss of 68 million euros ($74 million) between January and March, compared with an 8-million-euro loss in the same period last year.
Exchange rate dipped to as low as 3.56 points for first time in 8 weeks
Sales progressed 7.0 percent to 13 billion euros ($14.2 billion), the aeronautics giant said. For 2017, it forecast the delivery of more than 700 commercial aircraft, up from 688 in 2016.
Late liquidity lending rate increases to 12.25 percent; overnight borrowing and lending rates unchanged
Nasdaq climbs above 6,000 points for first time in history
BIST 100 index hits new record high on Wednesday morning; US dollar/Turkish lira rate stands around 3.58
BIST 100 index starts Tuesday with a new record high; US dollar/Turkish lira rate stands at around 3.57
Borsa Istanbul's BIST 100 index exceeds 93,400 points during Monday transactions
The French vote was being closely watched as a bellwether for populist sentiment following the election of Donald Trump as US president and Britain's vote to leave the EU.
IFC CEO Philippe Le Houerou said the fund will "lower the risk for the private sector and attract new investors -- essentially creating a market where there was none."
BIST 100 index opens 0.67 percent higher, US dollar/Turkish lira rate stands at around 3.64
Tightening monetary policies will continue to achieve lower inflation levels, Murat Cetinkaya says
Company will manage operations in 65 countries through Turkey, says head of healthcare group
"We might have to extend in order to reach the target... of stock levels," Khalid al-Falih told an energy forum in Abu Dhabi, referring to a deal between OPEC and non-OPEC producers to cut production by around 1.8 million barrels per day.