Garanti BBVA offers access to Forex, Futures, Options, and Equities markets. The minimum deposit for Forex trading is TRY 50,000. The broker supports various data terminals, including Matriks and Ideal.
Garanti BBVA; An Introduction to the Company and Its Regulatory Status
Garanti BBVA (formerly known as Garanti Bank) is Turkey's second largest private bank, owned (86%) by the Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA).
The bank provides brokerage services through Garanti BBVA Securities.
Garanti BBVA Securities was titled the "Best Investment Bank" for five consecutive years from 2007 to 2011. Key features of the broker:
- Minimum Deposit: TRY 50,000
- Maximum Leverage: Up to 1:10
- Chairman: Süleyman Sözen
- CEO: Recep Baştuğ
The Forex broker operates under the regulatory oversight of the Capital Markets Board of Turkey (CMB), ensuring compliance with national and international financial regulations.
Garanti BBVA Table of Key Features
Here’s a detailed list of the broker’s key features:
Broker | Garanti BBVA |
Account Types | Real, Demo |
Regulating Authorities | CMB |
Based Currencies | TRY |
Minimum Deposit | TRY 50,000 |
Deposit Methods | Bank Transfers, Western Union, FAST Money Transfers, Credit/Debit Cards |
Withdrawal Methods | Bank Transfers, Western Union, FAST Money Transfers, Credit/Debit Cards |
Minimum Order | 0.01 lots |
Maximum Leverage | 1:10 |
Investment Options | Real Shares, Asset Management |
Trading Platforms & Apps | Garanti BBVA Mobile, I-Trader, eTrader, FX Trader |
Markets | Equities, VIOP, Stock, Futures, Warrants, Forex |
Spread | Variable based on the instrument |
Commission | Variable based on the instrument |
Orders Execution | Market |
Margin Call / Stop Out | N/A |
Trading Features | Mobile Trading, Real Shares |
Affiliate Program | N/A |
Bonus & Promotions | No |
Islamic Account | Yes |
PAMM Account | No |
Customer Support Ways | Call Center, Physical Branches, Technical Remote Support, Ticket |
Customer Support Hours | 09:15 / 23:15 (GMT+3) |
Garanti BBVA Broker Account Types
Garanti BBVA Securities offers three account types: Domestic (Istanbul Borsa), International (Stocks and Equities), and FX. Here’s a brief look into Garanti BBVA FX account features:
- Minimum Initial Margin: TRY 50,000
- Requirement: Demo trading for at least 6 days and executing 50 trades
- Forex pairs
Garanti BBVA Account Opening and KYC
In this Garanti BBVA review, we must mention that you must be over 18 and trade for a minimum of 6 days on a demo account to open a real account with the broker.
- Visit the Garanti BBVA official website;
- Click Open account and choose your account type;
- Fill out the demo account registration form;
- Execute a minimum of 50 trades to be eligible for a Real account;
- Provide identity documentation, including a driving license and identity card;
- Upload the address proof (utility bill or bank statement).
Garanti BBVA Broker Trading Platforms
The company offers four trading platforms for various devices, including mobile and PC.
- Garanti BBVA eTrader Android (for Equities)
- Garanti BBVA eTrader iOS (for Equities)
- Garanti FX Trader Android
- Garanti FX Trader iOS
- Garanti BBVA Mobile Android
- Garanti BBVA Mobile iOS
- Garanti BBVA I-Trader (Web-based for equities)
Trading Costs
The broker offers two commission models for domestic stocks: fixed and volume-based. The commissions vary based on the trading market:
- Volume-based commission for domestic stock: from 0.199% to 0.09%
- Fixed commission for domestic stock: 0.1950%
- Annual equity account maintenance fee: TRY 500
- Futures (VIOP): 0.084%
- Data monitoring packages: from TRY 0 to TRY 950
- International stock: 0.3%
- International markets standard commission: $6.8 per lot
Garanti BBVA Broker Payment Options
Garanti BBVA offers various payment options for depositing and withdrawing funds, including:
- Bank Transfers
- Western Union
- FAST Money Transfers
- Credit/Debit Cards
Garanti BBVA Investment Plans and Copy Trading?
The broker provides access to real stocks for investing and not just CFDs! It also features various investment funds and asset management services.
- Investment Funds: Various funds catering to different investor profiles and goals
- Stocks: Easy access to stock trading through Garanti BBVA Mobile and Internet Banking
Garanti BBVA Promotional Offerings
While the broker itself doesn’t offer promotional programs, its mother company provides various promotions, including:
- Interest-free loan up to TRY 75,000
- Up to TRY 15,000 for those who receive retirement pensions from the bank
- Seasonal rewards
Garanti BBVA Support Channels
The broker has founded 30 branches throughout Turkey. It provides support from 9:15 to 23:15 (GMT+3) through various channels, including:
- Phone: 4440630
- Ticket: Through the “Contact Us” page
- Technical Remote Support: TeamViewer
Client Satisfaction
Garanti BBVA reviews on platforms like Trustpilot paint a mixed picture. There are 13 comments; 92% are negative (1-star and 2-star), and only 8% are positive (4-star).
The Garanti BBVA Trustpilot profile has a poor score of 1.9 out of 5.
Conclusion and Final Words
Garanti BBVA Securities provides real FX accounts with a requirement of 6 days demo trading and executing 50 demo trades.
It supports Western Union and FAST Money Transfers payment methods. The company has a low score of 1.9/5 on Trustpilot.