Trading EUR/TRY
The historic volatility of the EUR/TRY currency-cross has attracted forex traders. Today, that volatility has somewhat stabilised due to monetary policy in the Eurozone, however, there remain interesting trading opportunities. The complex history of the TRY means the currency can swing as the country continues to battle financial stability.
This page will cover everything you need to know to start day trading the EUR/TRY, from its history, benefits and drawbacks, to influences on the FX exchange rate. We will also look at the top places to access the historical data needed to make effective real-time or long-term forecasts.
Best EUR/TRY Brokers
Our latest tests have uncovered these 6 brokers as standout options for trading EUR/TRY:
Here is a short overview of each broker's pros and cons
- FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
- XM - XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been delivering low trading fees across its growing roster of 1000+ instruments. It’s also highly regulated, including by ASIC and CySEC and offers a comprehensive MetaTrader experience.
- IC Markets - IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
- Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
- Vantage - Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
- CMC Markets - Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
Christian Harris, Reviewer
FOREX.com Quick Facts
| Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stocks, Futures, Futures Options |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
| Currency Pairs | USD/CNH, EUR/CNH, AUD/CNH, CNH/JPY, EUR/AUD, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, GBP/ZAR, USD/HKD, USD/SGD, USD/THB |
Pros
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
Cons
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
- There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
XM
"With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years."
XM Quick Facts
| Bonus Offer | $30 No Deposit Bonus When You Register A Real Account |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies |
| Regulator | ASIC, CySEC, DFSA, IFSC |
| Platforms | MT4, MT5, TradingCentral |
| Minimum Deposit | $5 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, JPY |
| Currency Pairs | EUR/AUD, EUR/JPY, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, NZD/SGD, USD/HKD, USD/SGD |
Pros
- XM’s growing roster of 1,000+ instruments provides diverse short-term trading opportunities, with unique turbo stocks, fractional shares, and more recently thematic indices.
- XM’s Zero account is ideal for day trading with spreads from 0.0 pips, 99.35% of orders executed in <1 second, and no requotes or rejections.
- XM’s customer support has delivered over years of testing, with 24/5 assistance in 25 languages, response times of <2 minutes and now a growing Telegram channel.
Cons
- XM is falling behind the curve by not offering cTrader and TradingView which are increasingly being favored over MetaTrader for their smoother user experience and superior charting packages.
- Although trusted and generally well-regulated, the XM global entity is registered with the weak IFSC regulator and UK clients are no longer accepted, reducing its market reach.
- XM relies solely on the MetaTrader platforms for desktop trading, so there’s no in-house downloadable or web-accessible solution for a more beginner-friendly user experience with unique features.
IC Markets
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
IC Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto |
| Regulator | ASIC, CySEC, FSA, CMA |
| Platforms | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower |
| Minimum Deposit | $200 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
| Currency Pairs | USD/CNH, EUR/AUD, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, USD/HKD, USD/SGD, USD/THB |
Pros
- As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
- IC Markets secured DayTrading.com's 'Best MT4/MT5 Broker' in 2025 for its seamless, industry-leading MetaTrader integration, refined over years to maximize the platform experience.
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
Cons
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
- While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
- Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
Pepperstone
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
Pepperstone Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting |
| Regulator | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB |
| Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
| Currency Pairs | USD/CNH, EUR/CNH, GBP/CNH, NZD/CNH, EUR/AUD, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/HUF, GBP/JPY, NZD/SGD, USD/HKD, USD/INR, USD/SGD, USD/THB |
Pros
- Pepperstone has greatly improved the deposit and withdrawal experience in recent years, adding Apple Pay and Google Pay in 2025, as well as PIX and SPEI for clients in Brazil and Mexico in 2024.
- Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates up to 30% (index and commodities) and $3/lot (forex) through the Active Trader program.
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
Cons
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets, though it has introduced an intuitive copy trading app.
Vantage
"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."
Vantage Quick Facts
| Bonus Offer | 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds |
| Regulator | FCA, ASIC, FSCA, VFSC |
| Platforms | ProTrader, MT4, MT5, TradingView, DupliTrade |
| Minimum Deposit | $50 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN |
| Currency Pairs | EUR/AUD, EUR/JPY, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, NZD/SGD, USD/INR, USD/SGD, USD/THB |
Pros
- There are no short-term strategy restrictions with hedging and scalping permitted
- There’s an excellent suite of day trading software, including the award-winning platforms MT4 and MT5
- The broker has recently made efforts to expand its suite of CFDs providing further trading opportunities
Cons
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
- Unfortunately, cryptos are only available for Australian clients
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
CMC Markets
"With advanced charting tools and an extensive range of tradable CFDs, including an almost unrivalled selection of currencies and custom indices, CMC Markets provides a fantastic online platform for traders of all levels. "
CMC Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting |
| Regulator | FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA |
| Platforms | Web, MT4, TradingView |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN |
| Currency Pairs | CNH/JPY, AUD/CNH, EUR/CNH, AUD/MXN, EUR/AUD, EUR/JPY, EUR/SGD, EUR/TRY, EUR/CAD, GBP/HUF, GBP/ZAR, NZD/SGD, USDHKD, USD/SGD |
Pros
- CMC offers excellent pricing, including tight spreads and low trading fees for all but stock CFDs. The Alpha and Price+ schemes also offer perks for active traders with up to 40% discounts on spreads.
- The CMC web platform delivers a fantastic user experience with advanced charting tools for day trading and customizable features, catering to both beginners and experienced traders. MT4 (but not MT5) and TradingView (added in 2025) are also supported.
- CMC Markets is heavily regulated by reputable financial authorities and maintains its stellar reputation, helping to ensure a secure and trustworthy trading environment.
Cons
- Despite improvements, the web platform still requires enhancements to make it as intuitive to trade on as software from rivals like IG.
- An inactivity fee of $10 per month is applied after 12 months of inactivity, which may deter casual investors.
- The CMC Markets app offers the complete trading package but the design and user experience trails category leaders like eToro.
Chart
EUR/TRY Meaning
The EUR/TRY currency pair is the value of the Euro against the Turkish New Lira. EUR is the base currency and TRY is the counter currency. TRY is sometimes referred to in forex as YTL. This is because the Turkish New Lira breaks into 100 new kurus coins.
Benefits Of Trading EUR/TRY
The EUR/TRY spot rate is a popular currency pairing for traders looking to trade TRY:
- Stock indicator – The EUR is considered a leading indicator for stocks. As a result, investors already familiar with stock markets may find it easier to make forex trading forecasts.
- Prevalence – The EUR is one of the most popular reserve currencies. Its size leads to an abundance of financial data being released. This means expectations around the EUR/TRY pairing are relatively easy to follow.
- Volume – The huge number of active traders means there are relatively high levels of volatility. All of which can lead to greater potential to make profits when investing in the pair.
Risks Of Trading EUR/TRY
Despite several benefits to trading the EUR/TRY pair, certain drawbacks also exist:
- Volatility – The high levels of volatility within the EUR/TRY pair can result in winning positions swiftly turning into losing ones. When converting 1 Euro into TRY, use an exchange rate graph to access historical data. You should also be aware of the maximum yearly or annual averages, as these can help you make forward predictions.
- Leverage – Margin trading may increase your potential profit. However, it can also amplify losses. So, if you do utilise leverage, making accurate daily and long-term forecasts is essential. Also ensure you use stop losses to minimise your risk exposure.
- Automated trading – Even with attractive bid-ask spreads and competitive forward rates, sophisticated trading algorithms exist which serve as stiff competition. You might have the best currency calculators, converters and charts, but these bots can enter and exit trades using pre-determined criteria. It could be worth exploring automated forex trading to help give you an edge.
Understanding EUR/TRY
When trading 1 EUR into TRY, it’s important to understand the complex history and evolution of the pairing. This goes for any type of forex trade on the pair, including futures or options.
The development of the EUR/TRY currency pairing can be split into two periods. The first Turkish Lira ran between 1923 and 2005. After rampant inflation, the Turkish Central Bank reevaluated the Lira in 2005 and the last six zeros were removed from the value of the currency. This saw the beginning of the second Turkish Lira or Turkish New Lira. The Turkish New Lira is equivalent to 1-million of the old Turkish Lira.
Turkey is an emerging market and the TRY experiences high volatility as the country continues to struggle with inflation and financial stability. The TRY is used in both the Turkish Republic of Northern Cyprus and in Turkey.
The TRY has, at times, been ranked as one of the least valuable currencies in the world. But, in the last few years, the EUR/TRY has stabilised and even risen against the US Dollar. The pairing reached an all-time high in November 2020 of 8.58.
Today, the EUR to TRY exchange rate is traded by forex traders around the world.
Influences On Movement
The political and economic landscape can have a huge influence on the EUR/TRY pairing.
Economic Factors
Economies in the Eurozone vary widely. Germany is the largest economy and a leading world exporter. Other economies (such as Ireland and Greece) endure sovereign debt and strict government austerity measures. Staying ahead of Germany’s key financial reports will help inform EUR/TRY trading decisions.
On the other hand, Turkey’s economy is increasingly driven by industry and service sectors. This includes automotive, construction and electronics. Again, announcements on any of these outputs will influence the relative strength of the Lira against the Euro.
Political Factors
Another crucial factor is the political landscape. Instability can influence the direction of any currency. The challenge comes in keeping an eye on the numerous countries within the Eurozone. Should other countries leave the European Union like the UK, for example, the strength of the Euro is likely to decline. So, keep abreast of the latest political and economic news as this can affect the exchange rate for EUR/TRY. You can plot events on a chart to help you make accurate forward predictions.
Making EUR To TRY Forecast
When trading the EUR vs TRY, having a good idea of future trends and predictions is key to making a real-time or long-term forecast. Being aware of the latest news and economic indicators that can affect the forecast for 2025 will help your technical analysis, as these can affect the pip value and buy and sell price.
To find out the EUR vs TRY monthly average and historical exchange rate history, use a top broker such as Oanda to access a 5 or 10 years chart. This will show you the correlation between the pairing over time as well as the value year-to-date.
Forums such as Yahoo Finance, TradingView, Bloomberg or Reuters, can also give you the live swap rates on the date you are investing.
Final Word On Trading EUR/TRY
The EUR/TRY currency pair brings both volume and volatility. But to trade the exchange rate effectively, you need to keep ahead of political and economic developments both in Turkey and across the Eurozone. The size of the Euro means there is a huge amount of economic data at your disposal, which will help you to make accurate forward rates and forecasts.
You’ll also need a top forex broker that offers excellent tools, such as live exchange rate charts, historical data and real-time FX quotes to enable you to make predictions about future trends. Oanda, Pepperstone and Plus500 are all popular options.
FAQ
Why has EUR/TRY weakened?
Despite efforts from the Turkish Central Bank to prevent the currency from weakening, the TRY hit record lows against the Euro and US Dollar in 2020. The fall was a result of the effects of the global Covid-19 pandemic and poor economic policy converge.
Will EUR/TRY strengthen this year?
Most banks forecast the Euro will gradually strengthen in the future. Use a leading FX broker to access live swap rates and graphs when making a comparison between EUR and TRY.
What does it mean to trade EUR into 1 TRY?
When you trade 1 EUR into TRY you are trading the Euro against the Turkish New Lira. Because of the worldwide reach of trade, commerce, and finance, forex markets tend to be the largest and most liquid asset markets in the world.
What are the best times to trade EUR/TRY?
The forex market runs in line with the normal business hours of four different parts of the world and their respective time zones. The U.S./London markets overlap (8 a.m. to noon EST) has the heaviest volume of trading and is best for trading opportunities.
Is the Mastercard exchange rate good for EUR/TRY?
The Mastercard currency converter tool calculates foreign exchange rates for all the major currencies worldwide to enable cross-border purchase. You can use the Mastercard exchange rate as an indicator for the value of EUR into TRY ahead of your trade.