Brokers With TRY Accounts

Contributor Image
Written By
Contributor Image
Written By
James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
Contributor Image
Edited By
Contributor Image
Edited By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
Contributor Image
Fact Checked By
Contributor Image
Fact Checked By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
Updated

The Turkish lira is the local currency of Turkey and Northern Cyprus and has the currency code TRY. As forex trading increases in popularity, Turkish traders are looking to open accounts with TRY as the base currency. In this tutorial, we run through the top brokers with TRY accounts. Plus, we’ve explained the pros and cons of TRY trading accounts and provided a guide to comparing providers.

Brokers With TRY Accounts

These are the 1 best brokers that offer accounts with TRY as the base currency:

Click a broker for details
  1. 1
    Zacks Trade

    $2500
    $3
    FINRA
    Stocks, ETFs, Cryptos, Options, Bonds
    Own
    Wire Transfer, ACH Transfer, Cheque
    USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Here is a summary of why we recommend these brokers:

  1. Zacks Trade - Zacks Trade is a FINRA-regulated US broker offering trading on stocks, ETFs, cryptocurrencies, bonds and more through a proprietary terminal. The broker is geared toward active traders and offers very affordable fees on most assets as well as an app and a vast amount of market data.

Brokers With TRY Accounts Comparison

Brokers With TRY Accounts Comparison
Broker Minimum Deposit Instruments Platforms
Zacks Trade logo
$2500 Stocks, ETFs, Cryptos, Options, Bonds Own

Zacks Trade

"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."

Tobias Robinson, Reviewer

Zacks Trade Quick Facts

Demo AccountYes
InstrumentsStocks, ETFs, Cryptos, Options, Bonds
RegulatorFINRA
PlatformsOwn
Minimum Deposit$2500
Minimum Trade$3
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Pros

  • Regulated by FINRA with access to the Securities Investor Protection Corporation
  • Demo account
  • Customizable proprietary trading platform and mobile app

Cons

  • No MT4 or MT5 platform integration
  • Withdrawal fees apply if removing funds more than once per month
  • Shortcomings regarding platform loading times and technical glitches

What Is A TRY Account?

There is a growing market for the Turkish lira as the deposit currency for trading accounts. Turkey’s economy has seen strong growth in comparison to neighbouring countries, despite. This has meant a wealth of traders looking to purchase stocks, shares and forex pairs using TRY.

Opening a TRY account means that all trades will be made using the lira as the base currency. Any stocks, shares or CFDs will have a purchase price quoted in TRY. Commission fees or other charges will be quoted in lira too.

TRY Explained

TRY is the currency code for the Turkish lira, the national currency of both Turkey and Northern Cyprus. Brokers with TRY accounts will usually market themselves towards traders located in this jurisdiction. One Turkish lira can be subdivided into one hundred kurus.

It is the 19th most traded currency globally, making it an ‘exotic’ currency. It is also one of the most liquid of the emerging currencies and is fairly volatile, making it popular with traders who are looking to profit from sharp changes in value. Although not yet in the top 5 currencies to trade with, TRY is increasing in popularity as the country’s economy grows.

Benefits Of Brokers With TRY Accounts

How To Check If A Broker Offers A TRY Account

Although not always obvious, there are several ways you can quickly check whether a broker offers TRY accounts. Platforms will usually list their accepted base currencies in their FAQ or help section. Failing this, the deposits and withdrawals page should indicate the permissible currencies. If you’re still unclear, contact the broker’s customer support team for clarification.

How To Compare Brokers With TRY Accounts

Brokers with TRY accounts are ideal for investors who are actively trading the Turkish lira. When comparing which to to go for, several factors should be considered:

Final Word On Brokers With TRY Accounts

Increasingly, brokers that offer TRY accounts are entering the market, providing Turkish traders with exciting opportunities. There is undoubtedly a much brighter future for trading in Turkey now that the market is regulated, giving investors more confidence and a more effective chance to build trading portfolios. Using brokers with TRY accounts offers you the advantage of trading in Turkey with ease.

FAQs

What Is A TRY Trading Account?

A TRY trading account offers the Turkish lira as its base currency. Any fees and commissions will be calculated in this currency and any trades will also be quoted in TRY.

Which Brokers Accept TRY?

There are numerous brokers that offer TRY accounts. We’ve provided a list of the top brokers that offer this option. Alternatively, check your broker’s account page or terms and conditions.

Why Use Brokers That Accept TRY Accounts?

Using brokers with TRY accounts can give you several advantages as a Turkish trader. Deposit and withdrawal fees are generally low and currency conversion fees are eliminated.

Can Anyone Open An Account With Brokers That Offer TRY?

Most investors can open an account with a broker offering TRY as the base currency. Simply head to the broker’s website, select the account sign-up button, and follow the registration instructions.

How Can I See Which Brokers Offer TRY Accounts?

Take a look at our list of brokers that offer TRY accounts. Alternatively, head to the terms and conditions on the broker’s page, or contact their customer support team.