According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- TRY 50,000
- Garanti FX Trader (web platformu, Android ve iOS mobil uygulamaları)
- Up to 1:10
- Scalping allowed, floating spread type
Our Evaluation of Garanti BBVA
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Garanti BBVA is a moderate-risk broker with the TU Overall Score of 5.78 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Garanti BBVA clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Garanti BBVA operates in full compliance with the rules of the regulator Capital Markets Board of Turkey, implying high requirements for the initial deposit and limiting leverage for retail Forex trading.
Brief Look at Garanti BBVA
Garanti BBVA is part of the investment group Garanti Yatırım Menkul Kıymetler A.Ş., founded in 1946 and regulated by Turkey's state financial supervisory authority, the Capital Markets Board (CMB). Forex trading is available on the proprietary platform Garanti FX Trader, designed for active trading. The trading instrument list includes CFDs on currencies, stock indices, oil, and precious metals with leverage up to 1:10. Forex asset trades through Garanti BBVA are exclusively available to residents and citizens of Turkey.
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- High reliability and long-term operation of the parent holding;
- Liquidity from leading institutional-level quote providers;
- The only fee for a completed transaction is the variable spread;
- Deals on 46 currency pairs are available;
- Platform with advanced technical analysis tools and support for market and pending orders;
- Complete confidentiality of clients' personal data, transactions, and payment details;
- Separation of trader funds from Garanti BBVA's capital.
- High spreads — starting from 1.7 pips for Forex (EURUSD pair);
- Minimum deposit of TRY 50,000;
- Limited range of CFDs;
- Maximum leverage of 1:10.
TU Expert Advice
Financial expert and analyst at Traders Union
Garanti BBVA is a Turkish broker with a long history and reliable regulation. Its stability and constantly growing financial indicators attract a huge number of traders, but before opening an account, it is necessary to weigh all the pros and cons. Reliability is one of the main advantages of Garanti BBVA. The company also offers advanced market analysis and professional research, but they are mostly focused on the stock market rather than Forex and CFD markets.
Among the drawbacks is a limited range of assets. For example, through Garanti BBVA, you cannot trade gas, stocks, or cryptocurrencies in the CFD format. However, the choice of currency pairs is at an average level — more than 45 options are available. The broker offers a demo account, which allows you to familiarize yourself with the full range of trading instruments. However, to open it, you need to provide an identification number and undergo verification.
An important point is the requirements of the CMB regulator. Traders planning to trade in the Forex market must make a large deposit. Moreover, Garanti BBVA does not offer cent accounts for trading with a minimum lot size, which forces novice traders to risk large sums of money at the start.
Garanti BBVA Summary
Your capital is at risk. 79.43% of retail investor accounts lose money when trading CFDs with this provider. Garanti BBVA Ltd and its affiliates do not target EU/EEA/UK clients. It is the user's responsibility to ensure that any use of the website or services adhere to local laws or regulations. Please be aware that you are able to receive investment services at your own exclusive initiative only, ensuring you fully understand all the risks involved.
| 💻 Trading platform: | Garanti FX Trader (web platform, mobile applications for Android and iOS) |
|---|---|
| 📊 Accounts: | Demo, User |
| 💰 Account currency: | TRY |
| 💵 Deposit / Withdrawal: | Credit/debit cards, bank and money transfers, Western Union, FAST (Instant and Continuous Fund Transfer) |
| 🚀 Minimum deposit: | TRY 50,000 |
| ⚖️ Leverage: | Up to 1:10 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0,01 |
| 💱 EUR/USD spread: | From 1.7 pips for Forex |
| 🔧 Instruments: | Forex (CFDs on 46 currency pairs), CFDs on indices, gold, silver, oil |
| 💹 Margin Call / Stop Out: | N/A |
| 🏛 Liquidity provider: | HSBC, JPMorgan, Goldman Sachs, Barclays, Bank of America, and others |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Order execution: | Market |
| ⭐ Trading features: | Scalping allowed, floating spread type |
| 🎁 Contests and bonuses: | No |
For over-the-counter trading, Garanti BBVA offers about 55 CFDs, the majority of which are on currency pairs.Margin trading is allowed, however, leverage for currencies, metals, oil, and indices does not exceed 1:10, as per the requirement of the CMB regulator. Also, Forex traders looking to start trading with a regulated broker in Turkey must deposit at least TRY 50,000 with Garanti BBVA. The broker offers two types of accounts - user and demo.
Garanti BBVA Key Parameters Evaluation
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Trading Account Opening
To access your user account on the Garanti BBVA website, you need to become a client of this brokerage. For stock trading, you can open a domestic account (Yurt İçi Hesap) if you are a resident of Turkey, or a foreign account (Yurt Dışı Hesap).
To start trading Forex, go to the corresponding section of the website and find the button to open an account there. This action is available only to individuals aged 18 and over who have a TCKN — Turkey's identification number.
First, open a demo account. After meeting the trading requirements—making more than 50 trades and continuously trading for 6 days—you can request a user account. In the application form for opening both accounts, specify your name, surname, phone number, email, and TCKN number. When requesting a demo account, generate a password for the account, which will be used for authorization in the client's cabinet later on.
After logging into your account, you'll be able to undergo verification, deposit funds into your trading account, and start trading.
Regulation and safety
Garanti BBVA is part of an investment holding with the same name. It also manages Turkey's second-largest private bank with assets exceeding 953 billion Turkish lira. The regulator is the Capital Markets Board of Turkey (Sermaye Piyasası Kurulu). The registration number of Garanti Yatırım Menkul Kıymetler A.Ş. in the trading registry is 235103.
Garanti BBVA shares have been listed on the Borsa İstanbul Anonim Sirketi (BIST) stock exchange since 1990 and internationally since 1993. They are also included in 11 stock indices. As a member of the BIST exchange, Garanti BBVA is required to regularly submit financial reports — annual and interim reports every quarter.
Advantages
- Listing of Garanti BBVA on the Borsa Istanbul Anonim Sirketi stock exchange
- Custody of client funds in separate bank accounts from Garanti BBVA's assets
- The parent holding's operation since 1946
Disadvantages
- To become a client of Garanti BBVA, one must be a resident/citizen of Turkey
- The broker offers leverage only up to 1:10
- Identity verification is required at the time of account creation on the website, including when registering a demo account.
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Gerçek | From $17 | Free to Garanti BBVA account, other methods from TRY 1.04 |
Long and short swaps are applied depending on the type of position - buying or selling an asset. If the deal is closed before the end of the trading day, no fee is charged.
A comparative table of fees for Garanti BBVA and the leaders in the Traders Union rating - RoboForex and Pocket Option - is presented below.
Account types
Collaboration on the Forex market with Garanti BBVA begins with trading on a demo account — this is a mandatory condition of the broker. A user account can only be opened after trading on the demo for at least 6 business days and making at least 50 trades.
Account Types:
The demo account has no expiration date if the trader uses it without extended breaks. If there has been no trading activity on the demo account for 3 months from the date of the last login, it will be blocked.
The universal type of Garanti BBVA real account allows both experienced traders and newcomers to trade according to a unified algorithm and with the same transaction fees.
Deposit and withdrawal
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All withdrawals are processed by Türkiye Garanti Bankası A.Ş. at internal rates;
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If a trader requests a withdrawal to another bank account, the fee will be 1.15% of the amount, but not less than TRY 1.04. The cost of electronic transfer ranges from TRY 2.54, for transfers to the client's name it's 0.48% (min TRY 71.43). Western Union fee ranges from $14.29 to $321.43. The minimum fee for international withdrawals is TRY 314.29;
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Instant fund transfers are available through the FAST (Fonların Anlık ve Sürekli Transferi) instant payment system. The service cost ranges from TRY 2.54 to 5.1 depending on the withdrawal amount.
Investment Options
Investment strategies for Forex traders registered with Garanti BBVA are not available. The company's proprietary platform is designed for active trading and does not support social or algorithmic trading.
Traders can profit from dividend adjustments on DJI/USD, DAX/EUR, STX/EUR, SPX/USD, and NDX/USD indices, but exclusively through long positions. If a short position is open, on the contrary, funds are deducted from the balance.
Garanti BBVA is part of a large investment holding, so its clients have access to solutions for earning passive income on stock exchanges. For example, the company offers the e-Trader platform, which allows tracking signals and alerts for the most traded assets on the BIST exchange. Additionally, Garanti BBVA provides the opportunity to invest funds in ready-made portfolios — investment funds or pension plans — for passive income in the long term.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Partnership Program of Garanti BBVA
The broker does not offer partnership programs for Forex traders.
Customer support
Trader support is provided by the Yatırımcı Destek Merkezi, which operates from 09:15 to 23:15 GMT+3. However, the company's website does not indicate whether support is available on Saturdays and Sundays. The physical offices of the company operate on weekdays from 09:00 to 18:30 (GMT+3).
Advantages
- Free calls for residents of Turkey
- Each physical office of Garanti BBVA has a listed phone number
Disadvantages
- No online chat on the company's website
- More responsive support on weekdays
The broker provides the following communication channels:
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fax;
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email;
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phone numbers of the investor support center and offices in different cities;
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feedback form;
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visiting a physical office.
For technical support, you can use the TeamViewer remote connection tool.
Contacts
| Registration address | Garanti Yatırım Menkul Kıymetler A.Ş., Nisbetiye Mh.Barbaros Bulvarı Çiftçi Tovvers Blok No:96 İç Kapı No:256 Beşiktaş 34340 / İSTANBUL |
|---|---|
| Regulation | CMB |
| Official site | https://www.garantibbva.com.tr/ |
| Contacts |
444 0 333
|
Education
The basics of over-the-counter CFD trading on the Garanti BBVA website are presented in the Foreks Piyasaları section. The information provided there will help beginners understand the basic concepts as well as learn about the main risks of derivative trading.
For Forex traders, the company offers a demo trading account mode. With its help, you can practice placing and adjusting orders without depositing real funds — trading is conducted with virtual money.
Detailed Review of Garanti BBVA
Garanti BBVA provides clients with quotes from leading liquidity providers, which include global banks. Direct order execution, via primary dealers, ensures high-speed processing of trade orders with minimal delays. This allows Garanti BBVA clients to successfully employ any trading strategies, including scalping. The broker permits such activities and also does not prohibit hedging positions.
Garanti BBVA by numbers:
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The parent holding company has been operating for over 77 years;
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16 major liquidity providers;
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Offices in 18 cities in Turkey;
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More than 5 awards at Turkish and international Forex events.
Garanti BBVA is a broker specializing in active trading of derivatives trading on proprietary platforms.
Only permanent residents and citizens of Turkey can trade through Garanti BBVA. International accounts are only available for transactions with exchange-traded assets in the futures market. CFDs on currencies are Garanti BBVA's specialty in trading over-the-counter assets — the broker offers 46 pairs. The list of available trading instruments also includes CFDs on oil, gold, silver, and global indices such as DAX (Germany), EURO STOXX 50 (EU), Dow Jones, S&P 500, and NASDAQ-100 (US). Copy trading and the use of trading robots are not available.
Garanti BBVA's proprietary platform supports various types of orders — market, limit, stop orders, Take Profit, and Stop Loss. Using HTML5 technology, the user can personalize the platform interface — create and save different design options, and then use them as needed.Traders can also place orders with Forex instruments by phone during weekdays from 09:15 to 00:00, Turkey time.
Useful Functions of Garanti BBVA:
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Forex market hours in the US, UK, Germany, Japan, and Australia with local Turkish time opening/closing times;
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Industry-specific forecasts and daily market reviews;
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Reports on macroeconomic indicators, companies, and sectors;
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Banking services from one of the largest private investment holdings;
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Demo mode of the trading platform with no time limit.
Advantages:
The trading fee is displayed in the platform as a spread, with the broker markup included;
The list of available currency pairs includes majors, exotics, and cross rates;
The trading platform provides news, a wide range of technical analysis tools, and TradingView infrastructure;
Trading is available 24/5 from any internet-enabled device;
Free market research, price forecasts, and financial reports.
Garanti BBVA doesn't offer third-party developer platforms (MetaTrader, cTrader, etc.), instead, it provides its proprietary platform with advanced analytical features and a customizable interface.
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