Istanbul Forex Festival to help increase Turkey's share of world markets

Sunday, March 16, 2014

Aim of first Istanbul Forex Festival was to help Turkey get a larger share of world markets

Aim of first Istanbul Forex Festival was to help Turkey get a larger share of world markets

ISTANBUL – The First Istanbul Forex Festival's aim was to enlarge Turkey's forex markets and increase its share of global markets, the event's organizer said on Sunday.

Unal Medya Director-General Ahmet Unal told Anadolu Agency (AA) that the events of the festival would help the rise of the forex market.

"The substructure of our forex companies are very strong. But what's high on the agenda is the problem of getting clients due to some tax-oriented issues. Finding a solution to these problems, the sector will get better," said Unal.

Pinar Unal, chief editor of Forextraview Magazine said the Forex market has become more active in last two and half years since it has been checked by the Capital Markets Board Turkey (SPK).

"We had considered bringing the forex companies and clients together to create a productive area for them. So, this year, we organized this event for the first time," she said.

Pinar Unal added that the Turkic Republics would present a good opportunity to enlarge forex activities and to increase the presence of Turkish companies abroad.

The Chairman of Invest AZ, Elsen Guliyev, stated that although the capacity was increasing, the income of the companies and big banks were decreasing. He added with the development in technology, more people tried to learn about forex and show interest.

"The individual investor is showing more interest in algorithm based trading. We can see a huge development in this area on world. The biggest forex market is in Japan. There are 250,000 individual investors. As Turkey, we must aim for a volume of the half of Japan," Guliyev said.

The festival was being sponsored by AA, supported by the Association of Capital Market Intermediary Institutions of Turkey (TSPAKB), organized by Forextraview Magazine and hosted by the Istanbul Construction-Industry Center.

Visitors had the chance to attend sponsor awarded forex competitions through training programmes, seminars, conferences and competitions.

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