OYAK YATIRIM FX

Introduction

Based in Turkey, OYAK YATIRIM is a forex and CFD broker that offers services to traders seeking to trade foreign currencies and commodities. The broker describes itself as a subsidiary of OYAK, a well-respected organization that provides financial assistance to people in Turkey, founded in 1982.

As a forex and CFD broker catering to the local Turkish market, OYAK YATIRIM has developed several trading instruments and platforms suitable for both inexperienced and experienced traders. OYAK YATIRIM places considerable emphasis on providing traders with access to real-time market information, as well as analytical tools, and creating an easy-to-use trading environment for their clients.

While OYAK YATIRIM is connected to the larger financial services provider OYAK Yatırım Menkul Değerler A.Ş., there are certain shortcomings in terms of the broker's transparency related to its regulatory status and the specifics of its trading terms and conditions. This article offers a detailed examination of OYAK YATIRIM, including the broker's background, the products and services offered by OYAK YATIRIM, the types of customers the broker serves, and where OYAK YATIRIM fits into the wider financial services market, with the goal of educating potential clients about OYAK YATIRIM and assisting them in their search for a suitable broker.

Background and History

According to OYAK YATIRIM, the broker's origins can be traced back to its establishment as a subsidiary of the Ordu Aid Institution (OYAK) in 1982. OYAK YATIRIM is located at Ayazağa Mahallesi Kemerburgaz Caddesi Vadi İstanbul Park 7B Blok No:7C Kat:18, Sarıyer/İstanbul, Türkiye, and is headquartered in Sarıyer, a suburb of Istanbul. Although OYAK YATIRIM is affiliated with OYAK Yatırım Menkul Değerler A.Ş., one of Turkey's leading financial services companies, no information is provided on the broker's website about the specific history and founders of OYAK YATIRIM.Located alongside other prominent businesses located in a center of finance (specifically a financial district), OYAK YATIRIM FX represents an additional option for investors who do business with established entities that serve them.

Key Features and Offerings

OYAK YATIRIM FX has provided investors with many ways to trade including; currency pairs, contracts for difference (CFD), equity shares, precious metal (e.g. gold), futures materials, etc... Thus, allowing you (the investor) to use one account to trade multiple asset classes, thereby reducing your overall risk and level of exposure from different sources. The firm provides investors with the availability to open both real and demo accounts. A 30-day complimentary demo account is also offered for prospective users to become familiarized with their online trading systems and related market conditions prior to placing actual trades. Additionally, the broker has demonstrated strong leadership by firmly supporting the provision of live market data, providing users of the platform with real time Forex data, analyst report/market commentary, market bulletin notices, and related information specific to Dolar/TL.

The broker has been less than transparent with respect to the various types of accounts available for trading, the minimum amount required for initial funding, and the specific terms and conditions associated with those accounts; however, in some instances, users of the brokerage will have to log into their account to obtain additional details.

Instruments Available for Trading

Type of Instrument

Examples of Instruments

Foreign Exchange

Primarily; Major and Minor currency pairs (i.e. Dolar/TL)

Contracts for Difference (CFD)

Equities, Commodities, Indices

Commodities

(i.e. Gold, other such precious metals)

Regulatory Compliance and Licensing

Regulatory oversight is an important factor in selecting a broker to trade with. OYAK YATIRIM FX has stated that it has a relationship with OYAK Yatırım Menkul Değerler A.Ş., which is a member of various Turkish financial institutions, including Borsa İstanbul, VİOP, Takasbank, TSPAKB and MKK. However, the broker has not made any clearly verifiable statement regarding the regulatory oversight associated with its forex and CFD trading activities.The regulatory watch-dogs and independent sources have identified that OYAK YATIRIM FX does not have the relevant licenses to operate as a foreign exchange company which raises major concerns for security and safety of client funds being held within the broker's systems. For example; WikiFX has a record of OYAK YATIRIM FX having Meta Trader 4/Meta Trader 5 Platform OptionAvailability without having a valid regulation or clarity in regulations. The lack of regulatory transparency when considering OYAK YATIRIM FX creates an important consideration for all traders considering trading with the broker.

The following identifies the licensing regulatory agency and their license number along with the current license status of OYAK YATIRIM FX:

Regulatory Agency Licensing

Agency License Number License Status

Turkish Financial Regulator (indirectly via parent company) 0 No valid license to conduct Forex Activities for OYAK YATIRIM FX. WikiFX N/A Meta Trader 4 / Meta Trader 5 available, but no valid agency has published any regulations.

Trading Conditions & Platform Technology

Leverage Provided - OYAK YATIRIM FX provides its clients' with the ability to use leverage of up to 1:10, which is fairly conservative in comparison to some other Forex brokers.

Spreads Offered - OYAK YATIRIM FX presents by way of advertisement (in comparison to some other Forex brokers), attractive spreads, however the exact spread amounts are not disclosed on / in advance until you log into an account.

Trading Hours - OYAK YATIRIM FX allows for trading 24 hours each day / 5 days each week - Except Public Holidays in accordance with the typical trading conditions of the Forex market.

Technology - OYAK YATIRIM FX provides its clients with the option of utilizing two of the most commonly used platforms, Meta Trader 4 and Meta Trader 5 for trading - both of which have proven themselves to be adept at providing charting tools, the ability to trade automatically and the user-friendliness of the platforms utilized for trading. OYAK YATIRIM FX refers to an additional platform known as the WEBFX+ desktop platform, which uses feature sets that can only be described as advanced in technology - including, but not limited to, Depth Information, Real-Time Prices, Historical Price Data, Swap Analysis, and news feeds.Currently, there isn't enough direct information to determine whether OYAK YATIRIM FX will be providing full functionality for your needs via their Forex website or whether this is just partially or totally incomplete.

Features Description:

Variable Rates:

Leverage of up to 1:10

Spreads that have been provided (but results not disclosed to the public)

24-hour a day, Monday through Friday trading activities

Accessibility:

MT4, MT5 and WEB FX+ Desktop Options (including FX, but no4--limited confirmation--on MT4 or MT5)

24-hour a day, Monday through Friday mobile support (no separate forex app indicated)

Fee Structuring

The broker does not provide detailed fee structure information either on their official site or any number of external review sites. The absence of deposit fees or withdrawal fees or inactivity fee or commission constitutes a meaningful challenge for the client in determining the overall cost of trading with this broker. While the broker claims that they have values that represent a very good value, it is very difficult to assess the actual or total cost because there are no specific numbers provided.

Clients wishing to have access to any of the fees mentioned prior to entering an account will not find them accessible until you log into your account. Therefore this lack of up-front disclosure of fees represents a disadvantage relative to other brokers who provide specific fee structures.

Spreads:

The broker's assertion is that they have attractive spreads, however no numbers have been provided.

Client Experiences and Market Reputation:

There is limited informationWikiFX has reviewed OYAK YATIRIM FX for their 6-10 years of experience in the Forex Market and while their operating history shows strong levels of experience it does not guarantee legitimacy. The reports of no physical location for OYAK YATIRIM FX suggest that the broker may not be conducting business legally and/or transparently.

Among the positives for OYAK YATIRIM FX, they offer a full range of traditional and exotic forex and CFD products on multiple trading platforms (MT4, MT5), online demo accounts so you can see if their trading platform meets your trading needs prior to becoming a customer and 24/5 customer service support.

In terms of OYAK YATIRIM FX affecting clients directly, there are no new updates on their website at this time. However their parent company OYAK Yatırım has recently made margin changes for VİOP contracts (Istanbul Stock Exchange) when approved by the Capital Markets Board of Turkey (SPK) and has also made security upgrades to OyakTrader and Sanal Şube platforms.

As an entity that has been providing forex trading opportunities in Turkey for years, OYAK YATIRIM FX is part of an established financial services company based in Turkey that operates broadly supporting Turkey's Forex trading community by offering access to the largest range of forex trading products, popular trading platforms (MT4/MT5) and current market data.

However only limited information on OYAK YATIRIM FX is available publicly including:

1. No regulatory authority has currently regulated OYAK YATIRIM FX.

2. There is limited public knowledge regarding fees and trading terms and conditions charged by OYAK YATIRIM FX.

Thus potential OYAK YATIRIM FX traders should be cautious when researching all publicly available information and verifying the legitimacy of OYAK YATIRIM FX prior to trading with them.

This research is important for customers who are evaluating OYAK YATIRIM FX for their securities operations based on the previous trades made through OYAK YATIRIM FX compared to other brokers operating in the Forex securities market.