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:
-
- Demo account
- Platforms: MT4, MT5, TradingCentral
- Min. deposit: $5
-
- Demo account
- Min. deposit: $0
- Min. trade: 0.01 Lots
73-89% of retail investor accounts lose money when trading CFDs -
- Demo account
- Regulator: CySEC, MISA
- Platforms: MT4, MT5
-
- Demo account
- Regulator: FCA, ASIC, FSCA, VFSC, CIMA
- Min. deposit: $50
-
- Demo account
- Platforms: xStation
- Min. deposit: $0
69-80% of accounts lose money when trading CFDs with this provider. -
- Demo account
- Min. deposit: $0
- Min. trade: 0.01 Lots
Learn how we test brokers and why you can trust our ratings.
This is why we think these brokers are the best in this category in 2026:
- XM 4.8/5 XM is a globally recognized forex and CFD broker with 20+ million clients in 190+ countries. Since 2009, this trusted broker has been delivering low trading fees across its growing roster of 1000+ instruments. It also offers a comprehensive MetaTrader experience that we've observed firsthand placing test trades.
- Pepperstone 4.8/5 Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 830,000 clients worldwide. It offers access to 1,400+ 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, helping to ensure a secure environment for day traders at all levels.
- FXCC 4.6/5 FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Comoros Union and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.
- Vantage 4.7/5 Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to millions of 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.
- XTB 4.8/5 Founded in 2002 in Poland, XTB now serves more than 1 million clients. The forex and CFD broker combines a heavily regulated trading environment with an extensive selection of assets and a commitment to trader satisfaction, featuring an intuitive in-house platform with superb tools to support aspiring day traders.
- IG 4.8/5 Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers a top-tier selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| XM | 3133 | ||||
| Pepperstone | 3678 | ||||
| FXCC | 220 | ||||
| Vantage | 15615 | ||||
| XTB | 2935 | ||||
| IG | 10134 |
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.
Christian Harris, Reviewer
XM quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies
- Regulator
- CySEC, DFSA, FSCA, SCA, FSA, FSC-Belize, FSC-Mauritius, CMA-Kenya, CMA-UAE
- Platforms
- MT4, MT5, TradingCentral
- Minimum Deposit
- $5
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, JPY, ZAR
- Currency Pairs
- USD/CHF, 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 has rolled out platform upgrades with integrated TradingView charts and an XM AI assistant, delivering faster execution, smarter analysis, and a sleeker, more intuitive trading experience.
- XM’s growing roster of 1,400+ 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.
Cons
- XM relies solely on the MetaTrader platforms for desktop trading, so there’s no in-house downloadable solution for a more beginner-friendly user experience with unique features.
- XM is falling behind the curve by not offering cTrader, which is favored over MetaTrader by some serious traders for its smoother user experience and superior charting package.
- While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
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 24/5 support (18h a day on weekends).
Christian Harris, Reviewer
Pepperstone quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Spread Betting
- Regulator
- FCA, ASIC, CySEC, BaFin, DFSA, SCA, SCB, CMA-Kenya
- Platforms
- Pepperstone Trading Platform, MT4, MT5, cTrader, TradingView
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
- Currency Pairs
- USD/CHF, USD/JPY, 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
- After adding spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools for financial spread bettors in supported countries.
- There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
- 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.
Cons
- Despite improvements to its range of markets, crypto CFD offerings are still fairly limited compared to other brokers who focus on this area, such as Eightcap, and there's no option to invest in real coins.
- Execution may not feel as reliable in fast markets as headline speeds suggest. In our own testing, execution was fast at desired prices, but some community complaints focus on slippage, stop-loss fills and spread-sensitive order triggers during volatile conditions.
- Pepperstone has removed support for several tools that elevated the trading experience for active retail traders, notably Autochartist, Capitalise.ai and a free VPS for qualifying traders (now only pro traders in some countries).
FXCC
FXCC continues to prove itself an excellent option for day traders with a particularly strong selection of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and a free VPS for qualifying traders.
Jemma Grist, Reviewer
FXCC quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Metals, Energies, Crypto
- Regulator
- CySEC, MISA
- Platforms
- MT4, MT5
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD
- Currency Pairs
- AUD/CAD, AUD/CHF, AUD/JPY, AUD/NOK, AUD/NZD, AUD/SEK, AUD/SGD, AUD/USD, CAD/CHF, CAD/JPY, CHF/DKK, CHF/JPY, CHF/NOK, CHF/PLN, CHF/SGD, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/HKD, EUR/HUF, EUR/JPY, EUR/MXN, EUR/NOK, EUR/NZD, EUR/PLN, EUR/SEK, EUR/SGD, EUR/TRY, EUR/USD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/DKK, GBP/JPY, GBP/NOK, GBP/NZD, GBP/PLN, GBP/SEK, GBP/SGD, GBP/USD, GBP/ZAR, HKD/JPY, MXN/JPY, NOK/JPY, NOK/SEK, NZD/CAD, NZD/CHF, NZD/JPY, NZD/SGD, NZD/USD, SEK/JPY, SGD/JPY, TRY/JPY, USD/CAD, USD/CHF, USD/CNH, USD/CZK, USD/DKK, USD/HKD, USD/HUF, USD/JPY, USD/MXN, USD/NOK, USD/PLN, USD/RUB, USD/SEK, USD/SGD, USD/TRY, USD/ZAR, ZAR/JPY
Pros
- FXCC’s ECN XL account has been built with active traders in mind, featuring spreads from 0.0 with no commission, while also passing our execution speed benchmark for day traders.
- FXCC has stepped up its offering over the years, adding MT5 to its suite of platforms, hundreds of stocks and more cryptos to its product line-up, plus a copy trading feature and greater margin trading opportunities.
- Customer support still relies on human agents with response times of under three minutes on live chat during our tests and knowledgeable reps - a welcome break from the frustrating AI chatbots increasingly offered by brokers.
Cons
- Although the economic calendar has benefited from a facelift, FXCC still offers very little in terms of market research beyond basic daily technical analysis and aggregated market news, with no tools like Autochartist or social sentiment data.
- Although FXCC has bolstered its range of markets with US, European and Asian stocks, the choice of metals and energies is light, and there are no soft commodities.
- FXCC charges steep withdrawal fees on many of its payment methods, including $45 for bank transfers and 2% crypto transfers, which may cut into the returns of traders making regular withdrawals.
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.
Jemma Grist, Reviewer
Vantage quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
- Regulator
- FCA, ASIC, FSCA, VFSC, CIMA
- Platforms
- ProTrader, MT4, MT5, TradingView, TradingCentral, DupliTrade
- Minimum Deposit
- $50
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN
- Currency Pairs
- USD/JPY, 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
- It’s quick and easy to open a live account – taking less than 5 minutes
- There’s an excellent suite of day trading software, including the award-winning platforms MT4 and MT5
Cons
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
XTB
XTB stands out as a top choice for new day traders with the terrific xStation platform, low trading costs, no minimum deposit, and excellent educational tools, many of which are seamlessly integrated into the platform.
Christian Harris, Reviewer
XTB quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs on shares, Indices, ETFs, Raw Materials, Forex currencies, cryptocurrencies, Real shares, Real ETFs
- Regulator
- FCA, CySEC, KNF, DFSA, FSC, SCA, CMF, Bappebti
- Platforms
- xStation
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP
- Currency Pairs
- USD/CHF, USD/JPY, EUR/AUD, EUR/JPY, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, GBP/ZAR, NZD/SGD, USD/INR, USD/SGD, USD/THB
Pros
- With an excellent range of educational materials, including training videos and articles integrated into the platform, XTB supports traders at all levels.
- Opening an XTB account is a hassle-free, entirely online process that takes just a few minutes, making the entry into day trading smooth for new traders.
- XTB has improved its assets and markets offering further in 2026 with options trading in Spain and Germany, spot cryptos in some regions, and Investment Plans 2.0 with more pre-built plans covering sectors like Defence, a more intuitive interface, and greater flexibility to combine single stocks and ETFs into individual plans.
Cons
- XTB discontinued support for MT4, limiting traders to its proprietary platform, xStation, potentially deterring advanced day traders familiar with the MetaTrader suite.
- XTB does not offer a raw spread account, which is becoming increasingly common among competitors like Pepperstone, and may disappoint day traders looking for the tightest spreads.
- Not being able to adjust the default leverage level of XTB products is frustrating, as manual adjustment can significantly mitigate trade risk, especially in forex and CFD trading.
IG
IG continues to provide a comprehensive package with an intuitive web platform, best-in-class education for beginners, advanced charting tools bolstered by its recent TradingView integration, real-time data, and robust trade execution for experienced day traders.
Christian Harris, Reviewer
IG quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs (not in US), Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting (UK only)
- Regulator
- CFTC, NFA, FCA, BaFin, ASIC, FINMA, MAS, JFSA, FMA, DFSA, BMA
- Platforms
- Web, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD
- Currency Pairs
- USD/CNH, EUR/AUD, EUR/JPY, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/HUF, GBP/INR, GBP/JPY, GBP/ZAR, USD/HKD, USD/INR, USD/MYR, USD/SGD, USD/THB
Pros
- The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading, while IG has also added TradingView integration.
- The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met.
- As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust.
Cons
- IG applies an inactivity fee of $12-$18 per month after 2 years, deterring casual investors.
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges.
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
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 2026 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.