Overview of FXTCR
Established in Turkey, FXTCR is a forex trading platform catering primarily to Turkish users. It offers a range of trading products through its MetaTrader 4 platform, including Parties, Commodities, and Indices.
Traders can get demo accounts to gain knowledge about the market more quickly by gaining experience in the trial account before trading with their real accounts in the markets.
However, the broker has not been regulated by any major authority. Traders need to be aware of the risk.
Regulatory Status
Despite its robust offerings and affiliation with Tacirler Yatırım, FXTCR encounters a significant challenge due to the absence of international regulation. The absence of regulation by major international bodies such as the Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySEC) limits its appeal and trustworthiness on a global scale.
Pros and Cons
Pros
Wide Range of Instruments: Allows trading in multiple forex pairs, commodities, indices, and stocks, offering diverse in investment opportunities.
Comprehensive Educational Resources: Provides various educational materials such as webinars, video tutorials, market analysis reports, and personalized training sessions to help traders improve their skills.
Cons
Lack of Regulation: Lacks regulation by major international bodies such as FCA or CySEC, which can reduce its credibility and appeal to international traders.
Limited Payment Methods: Only supports bank transfers for deposits and withdrawals, excluding more modern and faster payment methods like e-wallets or credit cards.
Minimum Deposit Requirement: Requires a relatively high minimum deposit of 50,000 USD, which can be a barrier for smaller investors.
Market Instruments
FXTCR, also known as Tacirler Yatırım, offers a range of market instruments, primarily focused on Forex trading. Their offerings include:
Forex Pairs: Major and minor currency pairs.
Indices: Major global indices.
Commodities: Including metals and energy products.
Demo Account
You can gain knowledge about the market more quickly by gaining experience in the trial account before trading with your real account in the markets.
In the trail account, you can watch real market movements and perform your transactions in the forex market by learning the real trading conditions.
How to Open an Account？
After filling out the Real Account Opening form, you can open your account by following the steps below:
Leverage
FXTCR (Tacirler Forex) offers leverage up to 1:10 for retail traders. This limit is in accordance with the regulations set by the Capital Markets Board (CMB) of Turkey, which aims to reduce the risk exposure for retail investors. The CMB's strict regulatory environment ensures that leverage does not exceed this level, making trading conditions safer but less flexible compared to some international brokers.
Spreads & Commission
FXTCR, a brokerage platform under Tacirler Yatırım, offers competitive spreads for a variety of trading instruments. For major currency pairs, the spreads are as follows:
EUR/USD: 1.3 pips
GBP/USD: 1.9 pips
USD/JPY: 1.5 pips
USD/TRY: 12.4 pips
For commodities and indices, the spreads are:
FXTCR does not explicitly charge a commission on trades as their trading costs are primarily built into the spread. However, for certain account types or specific trading conditions, additional fees might apply, which traders should verify based on their chosen account and trading strategy.
Trading Plarform
FXTCR offers the MetaTrader 4 (MT4) trading platform, which is widely recognized for its user-friendly interface, advanced trading capabilities, and robust charting tools, available on both desktop and mobile (iOS and Android).
Deposit & Withdrawal
FXTCR facilitates deposits and withdrawals primarily through bank transfers. Here's an overview of their process:
Deposit Methods
Bank Transfer: The main method for depositing funds into an FXTCR account. The minimum deposit requirement is 50,000 USD.
Supported Currencies: Deposits can typically be made in Turkish Lira (TRY) and US Dollars (USD).
Withdrawal Methods
Bank Transfer: Withdrawals are also processed through bank transfers. This is the only withdrawal method offered by FXTCR.
Fees and Processing Time: Withdrawal fees may apply, and processing times can vary depending on the bank and currency, typically taking a few business days.
Customer Support
FXTCR offers various channels for traders to contact to the broker:
Address: Nispetiye Cad. B3 Block Floor 9, Akmerkez Etiler / ISTANBUL
Phone Number: 0850 251 40 40
Fax Number: +90 (212) 282 09 98
Email: fxtcr@tacirler.com.tr
Educational Resources
FXTCR offers a comprehensive suite of educational resources to support traders of all experience levels. These resources include:
Webinars and Seminars: Regularly scheduled sessions that cover a wide range of topics, from basic trading principles to advanced strategies. These are conducted by experienced market analysts and are designed to help traders stay informed about the latest market trends.
Video Tutorials: A series of instructional videos available on platforms like YouTube. These tutorials provide detailed guidance on using trading platforms, understanding technical analysis, and executing trades effectively.
Market Analysis Reports: Daily and weekly reports that provide insights into market movements, economic events, and trading opportunities. These reports are prepared by FXTCRs team of analysts and are valuable for making informed trading decisions.
E-books and Articles: Educational materials that cover various aspects of forex trading, from fundamental analysis to risk management strategies. These resources are designed to enhance traders' knowledge and skills.
Personalized Training: One-on-one training sessions tailored to individual traders' needs. These sessions help traders understand specific concepts and improve their trading strategies.
Conculsion
FXTCR offers a range of trading services primarily through the MetaTrader 4 platform, known for its advanced features and user-friendly interface. The broker provides diverse market instruments, extensive educational resources, and reliable market analysis, making it a strong option for both novice and experienced traders. However, FXTCR faces disadvantages such as limited international regulation, higher spreads compared to some global brokers, and restricted payment methods to bank transfers only. Despite these drawbacks, its robust educational offerings, and commitment to transparency make it a trustworthy choice for traders within its regulatory reach.
FAQs
Q: What trading platform does FXTCR offer？
A: FXTCR offers the MetaTrader 4 (MT4) platform. It is available on desktop, web, and mobile devices.
Q: What are the minimum deposit requirements at FXTCR？
A: The minimum deposit required to open an account with FXTCR is 50,000 US Dollars (USD). Deposits are primarily accepted via bank transfer.
Q: What leverage does FXTCR provide？
A: FXTCR provides leverage up to 1:10 for retail traders, in line with the regulations set by the Capital Markets Board (CMB) of Turkey to ensure safer trading conditions.
Q: What types of educational resources does FXTCR offer？
A: FXTCR offers a variety of educational resources including webinars, video tutorials, market analysis reports, e-books, and personalized one-on-one training sessions to help traders enhance their skills and knowledge.
Q: What are the spreads and commissions like at FXTCR？
A: FXTCR has variable spreads for different instruments. For example, the spread for EUR/USD is around 1.3 pips, while for USD/TRY it is approximately 12.4 pips. FXTCR does not charge explicit commissions, as costs are included in the spreads.
Q: How can I withdraw funds from my FXTCR account？
A: Withdrawals from FXTCR accounts are processed via bank transfer. While this method is secure, it may not be as fast as other modern payment options and could incur bank fees.
