10 Regulated Forex Brokers in Turkmenistan 2024

A forex broker is a financial services company that provides trading platforms for buying and selling forex and CFD instruments, including currencies, commodities, indices, cryptocurrencies, and more. Forex brokers act as intermediaries between retail traders and global financial markets. They facilitate transactions electronically, offering leverage, platforms, tools, resources, and support to help traders trade in the forex market. 

Highly regulated forex brokers, supervised by esteemed authorities such as ASIC, CySEC, FCA, BaFin, DFSA, MAS, SCB, FSA, SC, JFSA, and FSC, are available in Turkmenistan. To identify the most reputable regulated forex brokers in Turkmenistan, we conducted a comprehensive analysis of over 100 brokers. We have analyzed and tested various factors, including regulation, trading fees, spreads, account types, platform performance, execution speed, and customer support. We also considered additional factors such as deposit and withdrawal options, educational resources, and local support to ensure that traders have the guidance they need in their trading journey

In this article, we have compiled a list of the top regulated forex brokers in Turkmenistan. Our aim is to help you find reliable partners that align with your trading strategies, ensuring a smooth, efficient, and secure trading experience in the forex market

A List of Top 10 Regulated Forex Brokers in Turkmenistan

• Pepperstone: Regulated by 7 regulatory authorities including FCA, ASIC, CySEC, BaFin, DFSA, CMA, and SCB
• IC Markets: Regulated by 3 Regulatory Authorities including FCA, CySEC, and ASIC
• Exness: Regulated by 8 Regulatory Authorities including CySEC, FCA, CMA, FSCA,  FSA in Seychelles, CBCS, FSC (Mauritius), and FSC (BVI)
• XM: Regulated by 5 Regulatory Authorities including ASIC, CySEC, DFSA, FSCA, and FSC in Belize (Global)
• FP Markets: Regulated by 5 Regulatory Authorities including ASIC, CySEC, FSA, FSCA, SVG
• Eighcap: Regulated by 5 Regulatory Authorities including ASIC, FCA, CySEC, SCB, and FSASVG
• ActivTrades: Regulated by 5 Regulatory Authorities including SCB, FCA, CMVM, BACEN, and CVM
• AvaTrade: Regulated by 9 Regulatory Authorities including ASIC, JFSA, FSA, FSCA, ADGM, CBI, ISA, KNF, IIROC
• Axitrader is Regulated by 5 Regulatory Authorities including ASIC, SVG, FSA, DFSA, FCA
• FBS: Regulated by 3 Regulatory Authorities including Cysec, ASIC, FSC-Belize

Most Regulated Forex Brokers in Turkmenistan (Compared and Reviewed)

How Did We Select the Best Regulated Forex Brokers in Turkmenistan?

Research

To identify the best-regulated forex brokers in Turkmenistan, we conducted extensive research, focusing on each broker’s features, services, and top regulations. We analyzed market trends, broker offerings, and user feedback to understand what traders value most. This comprehensive approach allowed us to build a solid foundation for our evaluations.

Data Collection

We gathered data from various reliable sources, including official regulatory bodies, broker websites, and reputable financial news platforms. This data encompassed key metrics such as trading fees, available assets, leverage options, and client support services. Additionally, we considered user reviews and testimonials to gauge trader satisfaction and experiences.

Verification

After collecting data, we verified the information to ensure accuracy and reliability. This step involved cross-referencing details from multiple sources, including regulatory websites and independent reviews. By ensuring that our data is accurate, we aim to present an honest assessment of each broker’s strengths and weaknesses.

Live Testing

We conducted live testing of the shortlisted brokers to provide a real-world perspective. This involved opening demo accounts and executing trades to evaluate the trading platforms, order execution speed, and customer service responsiveness. Our live testing process allowed us to assess each broker’s performance under actual market conditions, providing valuable insights into their functionality.

Scoring

Finally, we scored each broker based on a set of criteria, including regulatory compliance, trading costs, platform usability, available trading instruments, customer support, and overall user experience. Each category was assigned a specific weight, reflecting its importance in the trading process. The scores helped us rank the brokers, ensuring that our recommendations align with the needs and preferences of traders in Turkmenistan.

What is a Forex Broker?

A forex broker refers to a financial institution that provides traders with access to the foreign exchange market, enabling them to buy and sell currency pairs. These brokers serve as intermediaries, connecting traders with liquidity providers and offering platforms for trade execution, market monitoring, and analysis. Operating within global forex hours, they ensure that trading can take place seamlessly throughout the week.

In addition to currency trading, forex brokers typically offer CFDs on various financial instruments, including commodities, indices, stocks, and cryptocurrencies. These contracts allow traders to speculate on price movements without owning the underlying assets. To support traders, brokers often provide leverage, analytical tools, and educational materials, helping them refine their strategies and make better trading decisions.

What is a Regulated Forex Broker?

A regulated forex broker refers to a financial institution that operates under the oversight of established regulatory authorities, ensuring adherence to industry standards and legal requirements. These brokers provide traders with access to the foreign exchange market, facilitating the buying and selling of currency pairs while maintaining transparency and client protection. Regulatory bodies such as the FCA, CySEC, and ASIC impose strict rules to promote fair trading practices and financial stability.

Beyond currency trading, regulated forex brokers typically offer CFDs on assets like commodities, indices, stocks, and cryptocurrencies. They must maintain segregated client accounts, comply with minimum capital requirements, and undergo regular audits. These regulations ensure a secure trading environment, enabling traders to make better trading decisions with confidence in the broker’s reliability and integrity.

How Can You Choose the Best Regulated Forex Brokers in Turkmenistan: Step-by-Step Guide

Follow the steps below to choose the best-regulated broker in Turkmenistan:

Step 1: Write down your requirements and list your priorities and expectations from your ideal broker.

Step 2:  If you don’t have a specific broker in mind, start with an internet search for forex brokers regulated by reputable authorities such as ASIC, CySEC, MAS, JFSA, DFSA, BaFIN,  and FCA, Read user reviews to gather valuable insights. You can choose the broker if it has at least two of the above regulations. 

Step 3: Make a list of a few brokers from your research. Then, visit their websites one by one.

Step 4: Verify their regulatory status with the ASIC, CySEC, MAS, JFSA, DFSA, BaFIN,  and FCA. Ensure the broker complies with strict regulatory requirements, including maintaining segregated client accounts and offering transparency in their operations.

Step 5: Check the types of trading accounts available, maximum leverage, minimum deposit requirements, and payment options. Ensure the broker offers conditions suitable for your trading style.

Step 6: Review the trading and non-trading fees, including spreads, commissions, and withdrawal charges. Ensure there are no hidden costs or unexpected fees.

Step 7: Test the trading platform’s features and performance. Look for popular platforms like MetaTrader 4, MetaTrader 5, or proprietary platforms, and assess the availability of advanced tools, indicators, and customization options.

Step 8: Evaluate the broker’s customer support services. Ensure they offer support in English and are responsive through multiple channels such as live chat, email, and phone.

Step 9: Review the educational resources and trading tools provided, such as market analysis, webinars, tutorials, and demo accounts. These resources can help you improve your trading knowledge and strategies.

Step 10: Compare the brokers based on your findings, focusing on regulatory compliance, trading conditions, and overall reputation. Then, make your final choice.

Frequently Asked Questions ( FAQs)

Who are the most trusted forex brokers in Turkmenistan?

 The Most Trusted Forex Brokers in Turkmenistan include 

• Pepperstone: Regulated by 7 regulatory authorities including FCA, ASIC, CySEC, BaFin, DFSA, CMA, and SCB
• Exness: Regulated by 8 Regulatory Authorities including CySEC, FCA, CMA, FSCA,  FSA in Seychelles, CBCS, FSC (Mauritius), and FSC (BVI)
• FP Markets: Regulated by 5 Regulatory Authorities including ASIC, CySEC, FSA, FSCA, SVG
• Eighcap: Regulated by 5 Regulatory Authorities including ASIC, FCA, CySEC, SCB, and FSASVG
• ActivTrades: Regulated by 5 Regulatory Authorities including SCB, FCA, CMVM, BACEN, and CVM

Which Regulated Forex Brokers have the lowest spread in Turkmenistan?

 The regulated brokers that offer the lowest spread in Turkmenistan include: 

• Exness: Starting from 0.1 Pips 
• ActivTrades: Starting From 0.5 Pip 
• FBS: Starting from 0.7 Pip 
• IC Markets: Starting From 0.8 Pip
• Pepperstone: Starting From 1 Pip 

ECN accounts of these brokers offer raw spreads from 0.0 pips and charge a commission for each lot traded.

Which Regulated Forex Brokers are good for beginners in Turkmenistan?

Exness, FBS, and ActivTrades are some of the best-regulated forex brokers that serve Turkmen clients. We came to this conclusion because these brokers provide the following resources and services that benefit beginners:

• Comprehensive Forex Education
• Lower or No Minimum Deposit  ( Exness: $1, FBS: $5, ActivTrades: $0) 
• Offers Demo Account
• Offers Lower Spreads 
• Easy-to-use trading platforms like MT4, MT5 

Final Verdict:

If you are a trader in Turkmenistan looking for reliable and well-regulated forex brokers, you can choose a forex broker that has strong regulations, competitive trading conditions, advanced tools, and easy-to-use trading platforms. We have thoroughly reviewed and compared the best-regulated forex brokers available for traders in Turkmenistan, focusing on regulation, trading conditions, and overall service quality. Here are the top brokers to consider:

• Pepperstone: Best overall, with low spreads and fast execution. Regulated by 7 authorities, including FCA, ASIC, and CySEC.
• IC Markets: Tight spreads and deep liquidity. Regulated by FCA, ASIC, and CySEC.
• ActivTrades: Reliable service with FCA regulation, also licensed by SCB, CMVM, BACEN, and CVM.
• Etoro: Excellent for social trading. Regulated by 7 authorities, including SEC, FCA, and CySEC.
• BlackBull Markets: Offers advanced charting tools. Regulated by FMA and FSA-S.
• FP Markets: Tight spreads and advanced tools. Regulated by ASIC, CySEC, and FSCA.
• AxiTrader: Easy to use MetaTrader 4 platform. Regulated by ASIC, FCA, and DFSA.
• Eightcap: Smart trading tools and plugins. Regulated by ASIC, FCA, and CySEC.
• Avatrade: Best for automated trading. Regulated by 9 authorities, including ASIC, FSCA, and IIROC.
• FBS: High leverage up to 1:3000. Regulated by CySEC, ASIC, and FSC-Belize.

These brokers offer excellent regulatory standards, competitive trading conditions, and reliable platforms, ensuring traders in Turkmenistan can trade forex confidently. Choose based on your specific needs, from advanced trading tools to social trading options, and start your forex journey securely.

Our Methodology:

Our team developed over 170 data points grouped into 6 macro areas for assessing the performance of forex brokers. They are as follows:

• Regulation and Security
• Fees and Commissions
• Trading
• Trading tools
• Customer Support
• Trading Education

Our team collated information from various sources and verified them before assessment and rating. We tested the services offered by the brokers using various devices, software, and strategies. Final fact-checking, evaluation, and editing were done and the best brokers were selected. To find out more, read our methodology.