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No Regulation
Score
1.51 /10
Danger
EmlakBank
Influence
B
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Time Machine
Website
Score
Regulatory Index0.00
Business Index7.03
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
Website
Licenses
No valid regulatory information, please be aware of the risk
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
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Warning: Low score, please stay away!
2
Previous Detection :
2024-09-30
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The current information shows that this broker does not have a trading software. Please be aware!
WikiFX Verification
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WikiFX Data provide
WikiFX Data provideUpdated: 2024-09-30
EmlakBank Information
Established in 1926, EmlakBank is a participation bank without a brokerage license registered in Turkey. This bank provides a swath of products and services for both retail and institutional clients. They offer five account types and extensive insurance products. However, there are limited investment options with this bank.
Pros and Cons
| Pros | Cons |
| Various products and services | No valid regulatory certificates |
| Gold bullion can be delivered to and received from their customers | Limited investment options compared to some other brokerages |
| Extensive insurance products | |
| Multiple account types |
Is EmlakBank Legit?
EmlakBank currently does not hold any valid regulatory certificates. Although it is incorporated in Turkey, it lacks regulation from any recognized financial authority. Opening an online brokerage account can be an easy way to start investing and there are always risks in investing. But we can choose to stay away from certain risks.
What Can I Trade on EmlakBank?
With EmlakBank, whether you're a retail or corporate investor, you can invest in foreign exchange and precious metals. Compared to other online brokerages, EmlakBank doesn't offer as many ways to invest. For example, if you want to trade cryptocurrency, stocks, or ETFs, you won't be able to do that here.
However, if your trading strategy is focused on forex trading or precious metal trading, you'll be fine with EmlakBank. The forex transactions are carried out in Turkish Lira and 16 foreign exchange units. Currencies available for buying and selling transactions are TL, USD, EUR, GBP, CHF, JPY, AUD, CAD, NOK, SEK, DKK, RUB, SAR, KWD, AED, and QAR.
The gold traded by EmlakBank has a 99.5% (995/1000) purity grade, and silver and platinum have a 100% (1000/1000) purity grade. Gold bullion can be delivered to and received from their customers.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Precious Metals | ✔ |
| Stocks | ❌ |
| Indices | ❌ |
| Commodities | ❌ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| ETFs | ❌ |
| Mutual Funds | ❌ |
Services
EmlakBank also offers a swath of services for individual and institutional clients.
- Finances: for individual customers, EmlakBank gives the opportunity of house financing, vehicle financing, workplace financing, etc. On the other hand, corporate clients can get business finance, installment commercial finance, etc.
- Payment services and cash management: including salary payment, institution payments - invoice/bill collection, etc.
- Insurance and pensions: including home insurance, compulsory earthquake insurance (DASK), car insurance, credit life insurance, etc.
Account Types
EmlakBank offers five account types across current accounts and participation accounts. You can invest in gold through Gold accounts and buy and sell silver and platinum through Silver and Platinum accounts. The minimum transaction limit of gold is 0.01 grams.
If you would like to choose to make long-term investments with small savings, you can open a cumulative participation account. However, you need a minimum of 500 TL, 100 USD, or 100 Euro to open a cumulative participation account. And the minimum amount you can deposit is 100 TL or 50 USD or Euro.
| Category | Account types | Description |
| Current Accounts | Current Accounts | A basic bank account doesn't offer interest payments or a share in the bank's profit |
| Gold Accounts | It is a type of account which stores your savings in the form of gold. | |
| Silver and Platinum Accounts | These types of accounts offer a tax advantage for investing. You can buy and sell assets without worrying about paying taxes on your returns | |
| Participation Accounts | Participation Account | A Participation Account is a type of bank account where you and the bank partner together |
| Cumulative Participation Accounts | The Cumulative Participation Accounts are ideal for people who want to gradually build wealth over a long period of time, even if they only have small savings to get started |
EmlakBank Fees
For retail customers, the bank charges a 0.5% allocation fee for housing, vehicles, or personal finance. An appraisal fee of 5500 TRY is required. Electronic Fund Transfer (EFT) Fees with this bank are free except cash-based transfers at branches incur fixed fees.
Commercial loans charge varying allocation fees (0.25% or 1.1%) and a 5% fee for letters of credit. Most EFT fees are free of charge.
| RETAIL BANKING PRODUCT AND SERVICE FEES | |
| Fee | Description |
| Personal financing-allocation fee | Housing/Vehicle/Personal Finance: 0.5% |
| Personal financing-appraisement fee | 5500 TRY |
| Personal financing-movable and immovable pledge fee | Housing Finance: 1620 TRYVehicle Finance: 119.40 TRY |
| EFT / Precious Metal Transfer Fee | From Cash - Branch: A fixed fee is received per transactionFrom Cash - ATM: Free of ChargeFrom Account - Branch: A fixed fee is received per transactionFrom Account - ATM: Free of ChargeFrom Account - Internet: Free of ChargeFrom Account - Call Center: Free of ChargeFrom Account - Mobile Channel: Free of Charge |
| Sending EFT - Gold Fee | A fixed fee is received per transaction |
| COMMERCIAL BANKING PRODUCT AND SERVICE FEES | |
| Fee | Description |
| Commercial loans-loan allocation | 0.25% |
| Commercial loans-loan allocation | 1.1% |
| Commercial loans-letter of Credit/Intent/Reference issuance fee | 5% |
| EFT / Precious Metal Transfer Fee | Mobile Banking and Internet Banking: Free of ChargeATM: Free of ChargeOther Channels: It is received per transaction and specific to the transaction |
Customer Support Options
For any questions you might have, help is available by phone (08502222626), or social media channel (Facebook, Twitter, Instagram, YouTube, etc). You can also hit a button on an online message box.
| Contact Options | Details |
| Phone | 08502222626 |
| ❌ | |
| Support Ticket System | ❌ |
| Online Chat | ❌ |
| Social Media | Facebook, Twitter, Instagram, YouTube, etc |
| Supported Language | Multiple |
| Website Language | Multiple |
| Physical Address | Barbaros Mahallesi, Begonya Sk. No:9A, 34746 Ataşehir/İstanbul |
The Bottom Line
EmlakBank could be an option for individual and corporate customers who seek various products and services in Turkey. However, you need to keep a close eye on the fees. This firm is not regulated by any recognized financial authority. Before choosing a brokerage, remember to consider the cost and the range of investment choices.
FAQs
Is EmlakBank a regulated brokerage?
No, EmlakBank is not regulated by any reputable financial authority. Before choosing a brokerage, remember to consider the risk involved.
Does EmlakBank offer leveraged trading?
No, EmlakBank doesn't provide a leverage option, which is up to 1:40.
What account types does EmlakBank have?
EmlakBank offers five account types, including Current Accounts, Gold Accounts, Silver and Platinum Accounts, Participation Accounts, and Cumulative Participation Accounts.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for everyone.
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