Ziraat FX

Overview of Ziraat FX

Turkey-based Ziraat FX is a trading platform that was founded in 2002. It provides a range of trading instruments, such as CFDs, precious metals, and currency pairs. The MetaTrader 5 (MT5) system, renowned for its extensive feature set and intuitive interface, is utilized by the platform. To assist traders in better understanding market dynamics and refining their trading tactics, Ziraat FX offers instructional tools. With a broad range of services and customer assistance choices, Ziraat FX strives to accommodate both novice and experienced traders, even in the absence of regulatory control.

Is Ziraat FX Legit？

There is no recognized financial regulatory body that oversees Ziraat FX. Being an unregulated broker means that regulatory agencies that are in charge of maintaining adherence to industry norms and safeguarding traders' interests have no control over its operations. Concerns are raised regarding the security and safety of funds as well as the openness of the broker's business operations due to this lack of regulation.

Pros and Cons

Ziraat FX provides a comprehensive suite of trading services and educational resources, catering to both beginners and experienced traders. The platform supports multiple advanced trading platforms, enhancing user experience and flexibility. However, the exposure to volatile markets can increase investment risk, and there is a lack of transparency regarding some operational details and fee structures. Additionally, while it is regulated by Chinese authorities, its focus remains predominantly on the Chinese market, limiting its appeal to international traders.

Trading Instruments

Ziraat FX offers a variety of trading instruments primarily focusing on forex and precious metals. In forex, it includes major pairs like EURUSD, GBPUSD, and USDJPY, among others, providing details such as maximum leverage, carry costs, and target spreads. For precious metals, trading is available in gold (XAUUSD) and silver (XAGUSD) with specific trading conditions.

Additionally, Ziraat FX provides Contract for Difference (CFDs) trading, which covers a broad range of underlying assets including stock indices, individual stocks, commodities, and even forex. These CFDs come in two forms: Forward CFDs, which are based on futures contracts and have specific expiration dates, and Cash (Spot) CFDs, which do not have an expiry and are based on the spot prices of assets. Both types of CFDs allow for leveraging, and Ziraat FX offers detailed information on leverage, margin requirements, swap rates, and commissions for these products.

Here is a comparison table of trading instruments offered by different brokers:

Account Types

Ziraat FX offers different account types to cater to various trading needs. These include:

- Standard Account: Provides access to all major forex pairs, precious metals, and CFDs with standard trading conditions.

- Premium Account: Offers enhanced features such as lower spreads and additional tools for experienced traders.

- Demo Account: Allows new users to practice trading without financial risk using virtual funds.

All accounts require a minimum deposit of 50,000 TL or equivalent in foreign currency and offer access to the ZiraatFX MT5 trading platform.

How to Open an Account

To open an account with Ziraat FX, follow these steps.

1. Visit the Ziraat FX website. Look for the “open account” button on the homepage and click on it.

1. Sign up on websites registration page.

1. Receive your personal account login from an automated email
2. Log in
3. Proceed to deposit funds to your account
4. Download the platform and start trading

Leverage

Ziraat FX provides a uniform leverage of 1:10 for most of its trading instruments, including major forex pairs and precious metals. This leverage ratio also extends to various other instruments such as crosses and exotics. The consistent leverage ratio allows traders to amplify their trading positions across a diverse range of assets under Ziraat FXs offerings.

Here is a comparison table of maximum leverage offered by different brokers:

Spreads and Commissions

Ziraat FX features varying spreads and commissions across its trading instruments. For major forex pairs, the spreads are generally low, ranging from 1.0 to 2.7 pips. Exotic pairs and precious metals like gold and silver have significantly wider spreads, reaching up to 50 pips for some currencies and 35 pips for gold. Commissions are detailed for CFDs, such as $0.7 per lot for oil, with variations depending on the specific asset traded. Additionally, some products like forward CFDs on commodities and indices incur a commission of $7 per lot.

Deposit & Withdraw Methods

Ziraat FX requires a minimum deposit of 50,000 TL equivalent in foreign currency to activate and start trading on a real forex account. Deposits and withdrawals can only be made in USD for forex transactions.

Deposit Methods:

- The fastest way to deposit funds is through Ziraat Bank's Internet Banking or the Ziraat Mobile app using the “Send USD to Leverage Account” option, allowing transfers from your Ziraat Bank USD account to your ZiraatFX account.

Withdrawal Methods:

- Withdrawals can be made by contacting the ZiraatFX Support line during specific hours or by sending an email to the designated address, facilitating USD transfers from your forex account to your bank account.

Trading Platforms

Ziraat FX utilizes the MetaTrader 5 (MT5) trading platform, offering a comprehensive suite of features for trading in various markets. This platform supports desktop, mobile, and web-based trading, allowing users to access real-time trading, technical analysis, and automated trading capabilities. Key features include one-click trading, extensive timeframes, market depth views, a wide range of indicators and charting tools, and a user-friendly interface. Additionally, the MT5 platform allows for advanced algorithmic trading using MQL5, although some automated trading features are currently inactive. The platform is designed to be reliable and user-friendly, catering to the needs of both novice and experienced traders.

Customer Support

Ziraat FX offers customer support through various channels. You can reach them by phone at (216) 590-18-90 or via email at ziraatfx@ziraatyatirim.com.tr. The company is headquartered at Finanskent Mah. Finans Cad. B Blok No:23/B, Ümraniye, Istanbul.

Educational Resources

Ziraat FX provides a range of educational resources that include:

- Order Types: Detailed explanations of different types of trading orders.

- Impact of Economic Data on Markets: Insights into how various economic indicators affect market movements.

- Investment Psychology: Guidance on managing emotions and psychological factors in trading.

- Tips and Tricks: Practical advice for improving trading strategies and performance.

Conclusion

Ziraat FX offers a solid trading platform with a wide range of instruments and educational resources, making it suitable for both beginners and experienced traders. However, the lack of regulatory oversight is a significant drawback, raising concerns about the security of funds and operational transparency.

FAQs

Is Ziraat FX regulated？

No, Ziraat FX is not regulated by any recognized financial authority.

What is the minimum deposit required to open an account？

The minimum deposit required is 50,000 TL or its equivalent in foreign currency.

What trading platform does Ziraat FX use？

Ziraat FX uses the MetaTrader 5 (MT5) platform.

How can I deposit and withdraw funds from my Ziraat FX account？

Deposits and withdrawals are done via Ziraat Bank's Internet Banking or Mobile app for deposits, and phone or email instructions for withdrawals.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then.