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Screenshot of a breaking news alert e-mail from Q2 2017
The Capital Markets Board (CMB) of Turkey has taken action against retail Forex broker Avante Trade, which offers its services via https://avantetrade.com/.
The company has a Turkish-language version of the website, which is, apparently, a reason for the regulator to examine the activities of the broker. The CMB (or SPK, as it is also known) is concerned that the company is targeting Turkish investors without a permission from the regulator.
As a result, the regulator has decided to block access to the website.
Although the Turkish regulator is known for its strictness, it rarely bans websites. Most often it imposes fines. In December last year, the watchdog also blocked access to a Forex broker website – the company that was sanctioned back then was MXTrade.
For the full bulletin from the Turkish regulator, click here.