Trading GBP/TRY
The exotic pair of GBP/TRY is made up of the United Kingdom’s official currency, pound sterling, and Turkey’s official currency, the lira. With the GBP being a major world currency and the TRY being an exotic currency, it offers volatility but less liquid conditions. This review breaks down the history of GBP/TRY, why to trade it and how to trade it, live charts, exchanges, news and more.
GBP/TRY Trading Brokers
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Pepperstone provides forex spreads on the EUR/USD averaging just 0.12 pips with their Razor account. This is highly competitive. Their extensive portfolio includes over 100 currency pairs, which exceeds what most rivals offer. Furthermore, Pepperstone stands out by offering three unique currency indices: USDX, EURX, and JPYX, which are rare on other platforms. They have been recognised with our 'Best Forex Broker' award twice.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.4 0.1 0.4 Total Assets FCA Regulated Platforms 100+ Yes MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower -
XTB offers access to over 70 currency pairs, with competitive spreads averaging about 1 pip for major pairs. Its xStation platform is user-friendly, providing traders with top-tier charting tools, over 30 indicators, and diverse order types to support different strategies and risk management needs.
GBPUSD Spread EURUSD Spread GBPEUR Spread 1.4 1.0 1.4 Total Assets FCA Regulated Platforms 70+ Yes xStation -
FXCC champions its competitive forex trading environment. ECN spreads can drop to an impressive 0.0 pips during busy trading periods. Offering more variety than many competitors, it supports over 70 currency pairs. Furthermore, traders benefit from MT4, renowned for its exceptional charting capabilities, specifically designed for forex trading.
GBPUSD Spread EURUSD Spread GBPEUR Spread 1.0 0.2 0.5 Total Assets FCA Regulated Platforms 70+ No MT4, MT5 -
Vantage provides over 55 currency pairs, exceeding the industry norm, giving traders ample opportunities. With a robust liquidity pool, forex spreads start at 0.0 pips on the ECN account, often beating other options. Additionally, there are no commissions, deposit fees, or hidden charges.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.5 0.0 0.5 Total Assets FCA Regulated Platforms 55+ Yes ProTrader, MT4, MT5, TradingView, DupliTrade -
IC Markets remains dedicated to offering tight 0.0-pip spreads on major currency pairs like EUR/USD, ensuring outstanding execution with an average speed of 35 milliseconds. Ideal for traders seeking high performance, those dealing in large volumes can also enjoy rebates of up to $2.50 per forex lot.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.23 0.02 0.27 Total Assets FCA Regulated Platforms 75 No MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower -
FxPro provides over 70 currency pairs, though minors are excluded, and is renowned for its rapid execution and tight spreads, averaging 0.45 pips on EUR/USD. Traders can design, evaluate, and implement short-term strategies using the top-tier MT4 platform with expert advisors for algorithmic trading.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.6 0.45 0.73 Total Assets FCA Regulated Platforms 70+ Yes FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade, Quantower -
IG provides an extensive selection of over 80 currency pairs through its own web platform, mobile app, or MetaTrader 4. For advanced charting and forex analysis, the ProRealTime software is available. Testing shows forex spreads are competitive, beginning at 0.1 pips on major pairs such as EUR/USD.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.9 0.8 0.9 Total Assets FCA Regulated Platforms 80+ Yes Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime
Safety Comparison
Compare how safe the Trading GBP/TRY are and what features they offer to protect traders.
Broker | Trust Rating | FCA Regulated | Negative Balance Protection | Guaranteed Stop Loss | Segregated Accounts |
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Pepperstone | ✔ | ✔ | ✘ | ✔ | |
XTB | ✔ | ✔ | ✔ | ✔ | |
FXCC | ✘ | ✔ | ✘ | ✔ | |
Vantage FX | ✔ | ✔ | ✘ | ✔ | |
IC Markets | ✘ | ✔ | ✘ | ✔ | |
FXPro | ✔ | ✔ | ✘ | ✔ | |
IG Index | ✔ | ✔ | ✔ | ✔ |
Payments Comparison
Compare which popular payment methods the Trading GBP/TRY support and whether they have trading accounts denominated in British Pounds (GBP).
Broker | GBP Account | Debit Card | Credit Card | Neteller | Skrill | Apple Pay |
---|---|---|---|---|---|---|
Pepperstone | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
XTB | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
FXCC | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
Vantage FX | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
IC Markets | ✔ | ✘ | ✔ | ✔ | ✔ | ✘ |
FXPro | ✔ | ✘ | ✔ | ✔ | ✔ | ✘ |
IG Index | ✔ | ✔ | ✔ | ✘ | ✘ | ✘ |
Mobile Trading Comparison
How good are the Trading GBP/TRY at mobile trading using apps or other mobile interfaces.
Broker | Mobile Apps | iOS Rating | Android Rating | Smart Watch App |
---|---|---|---|---|
Pepperstone | iOS & Android | ✘ | ||
XTB | iOS & Android | ✔ | ||
FXCC | iOS & Android | ✘ | ||
Vantage FX | iOS & Android | ✘ | ||
IC Markets | iOS & Android | ✘ | ||
FXPro | iOS & Android | ✘ | ||
IG Index | iOS & Android | ✔ |
Beginners Comparison
Are the Trading GBP/TRY good for beginner traders, that might want an affordable setup to get started, along with good support and educational resources?
Broker | Demo Account | Minimum Deposit | Minimum Trade | Support Rating | Education Rating |
---|---|---|---|---|---|
Pepperstone | ✔ | $0 | 0.01 Lots | ||
XTB | ✔ | $0 | 0.01 Lots | ||
FXCC | ✔ | $0 | 0.01 Lots | ||
Vantage FX | ✔ | $50 | 0.01 Lots | ||
IC Markets | ✔ | $200 | 0.01 Lots | ||
FXPro | ✔ | $100 | 0.01 Lots | ||
IG Index | ✔ | $0 | 0.01 Lots |
Advanced Trading Comparison
Do the Trading GBP/TRY offer features that allow for more advanced trading strategies?
Broker | Automated Trading | Pro Account | Leverage | VPS | AI | Low Latency | Extended Hours |
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Pepperstone | Expert Advisors (EAs) on MetaTrader | ✔ | 1:30 (Retail), 1:500 (Pro) | ✔ | ✔ | ✔ | ✘ |
XTB | Open API | ✔ | 1:30 | ✘ | ✘ | ✔ | ✘ |
FXCC | Expert Advisors (EAs) on MetaTrader | ✘ | 1:500 | ✔ | ✘ | ✔ | ✘ |
Vantage FX | Myfxbook AutoTrade, Expert Advisors (EAs) on MetaTrader | ✘ | 1:30 | ✔ | ✘ | ✘ | ✘ |
IC Markets | Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade | ✘ | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) | ✔ | ✘ | ✔ | ✘ |
FXPro | Expert Advisors (EAs) on MetaTrader, cBots on cTrader | ✔ | 1:30 (Retail), 1:500 (Pro) | ✔ | ✘ | ✔ | ✘ |
IG Index | Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime | ✔ | 1:30 (Retail), 1:222 (Pro) | ✔ | ✘ | ✔ | ✔ |
Detailed Rating Comparison
Use this heatmap to compare our detailed ratings for all of the Trading GBP/TRY.
Broker | Trust | Platforms | Mobile | Assets | Fees | Accounts | Support | Research | Education |
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Pepperstone | |||||||||
XTB | |||||||||
FXCC | |||||||||
Vantage FX | |||||||||
IC Markets | |||||||||
FXPro | |||||||||
IG Index |
Our Take On Pepperstone
"Pepperstone is a premier trading platform, providing tight spreads, swift execution, and sophisticated charting tools for seasoned traders. Beginners benefit from no minimum deposit, comprehensive learning materials, and outstanding 24/7 support."
Pros
- In recent years, Pepperstone has significantly enhanced the deposit and withdrawal process. By 2025, clients can use Apple Pay and Google Pay, while 2024 saw the introduction of PIX and SPEI for customers in Brazil and Mexico.
- Pepperstone offers rapid execution speeds of approximately 30ms, enabling swift order processing and execution, making it ideal for traders.
- Support for top-tier charting platforms such as MT4, MT5, TradingView, and cTrader. These tools accommodate different short-term trading methods, including algorithmic trading.
Cons
- Pepperstone's demo accounts expire after 30 days, which may not provide sufficient time to explore various platforms and evaluate trading strategies.
- Although its market range has improved, its crypto offerings remain limited compared to brokers specialising in this sector, lacking real coin investment options.
- Pepperstone doesn't offer cTrader Copy, a favoured feature for copying trades found in the cTrader platform, which is available on other platforms such as IC Markets. However, Pepperstone has launched its own user-friendly copy trading app.
Our Take On XTB
"XTB emerges as an ideal option for novice traders, offering the impressive xStation platform, zero commission pricing, no required minimum deposit, and outstanding educational resources, many of which are conveniently integrated into the platform."
Pros
- Setting up an XTB account is straightforward and fully online, requiring only a few minutes. This simplicity eases new traders into the world of trading.
- Top-notch customer support, available 24/5, includes a welcoming live chat with response times under two minutes during tests.
- XTB offers a superb array of educational resources, such as training videos and articles, embedded within the platform to assist traders of all experience levels.
Cons
- XTB has stopped supporting MT4, restricting traders to its own platform, xStation. This decision may discourage experienced traders accustomed to using the MetaTrader suite.
- Trading fees are competitive, with average EUR/USD spreads of about 1 pip. However, they are not as low as the most affordable brokers, such as IC Markets. Additionally, an inactivity fee applies after a year.
- XTB lacks a raw spread account, a feature increasingly offered by competitors such as Pepperstone. This omission might not satisfy traders seeking the most competitive spreads.
Our Take On FXCC
"FXCC remains a top choice for forex traders, offering over 70 currency pairs, very tight spreads from 0.0 pips in tests, and high leverage up to 1:500 with the ECN XL account."
Pros
- The complimentary education section, featuring the 'Traders Corner' blog, provides a wide array of resources suitable for traders of all experience levels.
- FXCC has introduced MT5, which in our evaluations, mirrored the trading conditions of MT4 by offering swift execution, improved charting, and market depth tools.
- FXCC offers competitive and transparent ECN spreads starting from 0.0 pips, with no commissions. This makes it one of the most cost-effective forex brokers available.
Cons
- FXCC's exclusive MetaTrader platform is a limitation, especially when compared to more versatile options like AvaTrade, which offers five different platforms to cater to various trader needs.
- While the MetaTrader suite excels in technical analysis, its outdated design detracts from the overall trading experience, particularly when contrasted with contemporary platforms such as TradingView.
- Unaware traders might face steep withdrawal fees, such as a notable $45 for bank transfers.
Our Take On Vantage FX
"Vantage is an ideal choice for CFD traders looking for a well-regulated broker with access to the dependable MetaTrader platforms. With a swift sign-up process and a minimum deposit of $50, starting trading is simple and fast."
Pros
- The broker recently expanded its range of CFDs, offering more trading opportunities.
- The trading software suite is outstanding, featuring the acclaimed MT4 and MT5 platforms.
- Opening a live account is both straightforward and swift, requiring under 5 minutes to complete.
Cons
- It's unfortunate that some clients must register with the offshore firm, which provides reduced regulatory safeguards.
- Regrettably, cryptocurrencies are accessible solely to clients in Australia.
- Based on tests, average execution speeds of 100ms to 250ms are slower compared to other options.
Our Take On IC Markets
"IC Markets provides excellent pricing, swift execution, and easy deposits. With cutting-edge charting tools like TradingView and the Raw Trader Plus account, it continues to be a preferred option for intermediate and advanced traders."
Pros
- In 2025, IC Markets earned DayTrading.com's accolade for 'Best MT4/MT5 Broker' due to its top-tier MetaTrader integration. This achievement highlights the broker's continuous refinement over the years to enhance the platform experience.
- IC Markets provides some of the industry's narrowest spreads, offering 0.0-pip spreads on major currency pairs. This makes it an extremely cost-effective choice for traders.
- As a well-regulated and reputable broker, IC Markets focuses on client safety and transparency to provide a dependable global trading experience.
Cons
- The tutorials, webinars, and educational resources require enhancement, lagging behind competitors such as CMC Markets, which diminishes their appeal to novice traders.
- Although there are four top-tier third-party platforms available, the absence of in-house software or a trading app tailored for novice traders is notable.
- Interest is not paid on idle cash, a feature gaining popularity with alternatives such as Interactive Brokers.
Our Take On FXPro
"FxPro is an excellent choice for traders, offering swift execution speeds under 12ms, reduced fees since 2022, and outstanding charting platforms like MT4, MT5, cTrader, and FxPro Edge."
Pros
- FxPro uses a 'No Dealing Desk' (NDD) model for swift and transparent order execution, usually within 12 milliseconds, making it well-suited for short-term trading strategies.
- FxPro provides four dependable charting platforms, including the user-friendly FxPro Edge. It features more than 50 indicators, 7 types of charts, and 15 different timeframes.
- FxPro's Wallet is a notable feature enabling traders to securely manage their funds. It ensures additional protection and ease by separating unused funds from active trading accounts.
Cons
- There are no passive investment options such as copy trading or interest on cash. While traders might not find these essential, competitors like eToro, which accommodate both active and passive investors, offer more extensive services.
- FxPro offers customer support five days a week around the clock, accessible via various platforms, and the service quality is reliable based on tests. However, the absence of weekend support can be a drawback for traders requiring help beyond standard market times.
- FxPro, with its $10M funded demo account and expanding Knowledge Hub, mainly caters to experienced traders. Beginners might find its account and fee structure challenging to understand.
Our Take On IG Index
"IG offers a complete package with an intuitive online platform, top-tier beginner education, advanced charting tools through its TradingView integration, real-time data, and swift execution for seasoned traders."
Pros
- The IG app provides an excellent mobile trading experience with an intuitive design, earning it the Runner Up position in our 'Best Trading App' award.
- IG stands out with its extensive range of instruments, offering stocks, forex, indices, commodities, and cryptocurrencies. Additionally, it has recently introduced US-listed futures and options, along with an AI Index. These options enhance opportunities for diversification in trading.
- As a seasoned broker, IG adheres to stringent regulatory standards across various regions, ensuring significant trust.
Cons
- In the UK and EU, negative balance protection is available. However, US clients lack account protection and guaranteed stop losses.
- IG imposes a monthly inactivity fee of $12 after two years, discouraging occasional traders.
- Beginners may find IG's fees complicated, as they vary depending on the trades or services. This could cause confusion and unexpected costs.
GBP/TRY Chart
Why Day Trade GBP/TRY?
- Volatility – The GBP/TRY attracts investors from around the world. With wide spreads in slow periods and narrow spreads during busy periods, it allows for opportunities to profit off significant shifts in the pair’s value. Further, political uncertainty can also widely affect both the pound and lira.
- Range of trading vehicles – The forex market sees high and extensive volume, so trading GBP/TRY can be done through many vehicles, such as options, ETFs and futures.
- Diversification – An advantage of trading an exotic pair (i.e. without USD), allows investors to diversify and utilise distinct strategies to create profit.
- Resources – With the tools available nowadays, creating forecasts and predictions on GBP/TRY doesn’t have to be so hard. Conduct technical analysis with access to live candlestick charts, real-time price movement, historical graphs and the best exchange rates. Many websites also give you access to investing forums with trader sentiment and market outlooks.
Risks Of Trading GBP/TRY
- Lack of Information – As the Turkish lira is not a major currency, there is less technical information available, which can make the GBP/TRY challenging to forecast.
- Wider spreads – GBP/TRY has less liquidity compared to major forex pairs like GBP/USD. Liquidity creates buying power, and its low levels can mean that it’s more costly to trade.
- Volatility – Shifts in the FX market can be unpredictable, making trading difficult for beginners. Thus, technical knowledge, such as support/resistance levels and pivot points are a good source to achieve success when trading volatile pairs.
Influences On GBP/TRY Movement
Central Bank Monetary Policies
Financial institutions can devalue or inflate their respective currencies, which can affect exchange rates. The Bank of England makes important decisions on GBP interest rates. Likewise, major decisions from The Central Bank of the Republic of Turkey affect the future performance of TRY.
Politics
Political uncertainty or stability can widely affect investor sentiment. For example, Brexit threw the British economy into a state of flux and ushered an era of uncertainty. On the other hand, geopolitical issues due to the current situation in Syria have impacted the Turkish economy.
Economic Conditions
Inflation and the GDP of a country can affect the average exchange rate. This is important because when economic growth is greater in one country it will strengthen against the other currency, and vice versa.
Balance of Trade
A country’s current account depends on the trade between the country and its trading partners. A current account deficit occurs if its spending more on foreign goods than it’s bringing in. For example, the UK current account deficit hit £97.9 billion in 2014 (5.5% of GDP), which presented a risk in the market’s perception of the UK. On the other hand, international trade is a big aspect in Turkey’s economic activity, so a large current account deficit would likely turn investors away.
GBP/TRY Currency Correlations
The GBP/TRY does not have a US dollar component, which makes it a cross. Cross currency pairs often move differently to majors. However, to some extent, they are still dependent on its movement. For example, the GBP/TRY can move in relation to GBP/USD and USD/TRY pairs. Pairs can either move with each other or in the opposite direction, which affects its correlation coefficient.
- Positive correlation – This is when pairs move in the same direction as each other. For example, popular pairs, GBP/USD, AUD/USD and EUR/USD are all positively correlated. This is because the US dollar is the counter currency and any change in the US dollar will impact these pairs.
- Negative correlation – This occurs when pairs move in the opposite direction. Popular pairs include USD/CHF, USD/JPY and USD/CAD. The base currency is the US dollar.
Application
A GBP/TRY trader can use this information to better understand the consequences of movement in certain pairs. Although it is important to note that correlations don’t remain stable. Economic factors and market speculation can create shifts in currency correlations.
GBP/TRY Day Trading Strategy
Timing
Successful GBP/TRY day trading rests on timing. While trading GBP/TRY seems hard, it typically involves trading during the highest levels of volume and volatility to generate profits above the cost of spreads and commissions. In other words, you should be trading during the ideal window.
While the forex market is open 24/5, it does not mean each of those hours is worth trading. So when is the ideal window? An hourly volatility chart of GBP/TRY will show that there is increased volume from 6am to 4pm GMT. After that, movement from each hour tapers off, which will likely have fewer big price moves to participate in.
Another thing to note is that the majority of UK monthly economic data news comes out between 7am to 9:30am GMT, which will likely cause higher volumes in the GBP/TRY pair. So, 30 to 60 mins before releases or 1 to 3 hours after releases are good times to trade as news can impact the pair’s value.
Strategy Tips
There is no perfect day trading strategy for GBP/TRY as exchange rates are affected by a range of factors, as covered above. There are many forex strategies to learn online. GBP/TRY live charts that span from 1 minute to 10 years and technical analysis are useful for creating forecasts or identifying trends.
Different strategies work for different people. Some may prefer pivot points, swap points and forward curves. However, it is important to do your own due diligence and research.
News
The latest market news and outlook can inform GBP/TRY trading strategies. This is because the pound and lira can shift in response to major news releases. Some news resources offer FX forecasts, spot rates, pre-market sentiments, historical data and the best GBP to TRY exchange rates. Here are some popular sources to consider:
- XE, Coinmill and Post Office provide free real-time currency exchange rates and converters i.e. 1 GBP in TRY
- Bloomberg’s FX Centre is where you’ll find markets news, data, analysis and more
- DailyFX offers charts and covers financial market news for forex and other assets
- Walletinvestor offers free forecasts for many forex pairs including GBP/TRY
History Of GBP/TRY
Before you start investing in the GBP/TRY, it’s useful to understand significant historical dates and its origins.
Early GBP & TRY
The British pound dates back to the Anglo-Saxon period in 775 AD, where silver coins, known as ‘sterlings’ circulated as legal tender. Having been around for 1,200 years, it is considered the oldest currency in the world. After a period of a specie-based monetary system dominated until the mid-17th century, the Bank of England was created in 1694, which was the first central bank in history.
It was around the 1700s when the UK started defining the pound’s value in terms of gold instead of silver. But eventually, it abandoned gold-backed money in 1931. After WWII, the UK joined a group of allied nations in signing the Bretton Woods Accords in 1944, where USD and GBP were designated as the global reserve currencies. This was when GBP was fixed to the US dollar. The Bretton Woods monetary system stayed in effect until 1971. However, since 1992, the GBP has existed as a free-floating currency.
On the other hand, the Turkish lira was initially adopted as the official currency by the Ottoman Empire in the mid-1800s. The Ottoman lira were gold coins used as currency while other coins that were lesser in value were also in circulation. These were called ‘kurus’ and ‘para’. In 1870, the first versions of Turkish lira banknotes were being printed and came into circulation.
The lira has had a volatile past and experienced devaluations and reconstructions, such as the replacement of the Ottoman lira in 1923 by the ‘First Turkish Lira’. This replaced smaller denominations of coinage with a standardised decimal system of currency. This shifted the Turkish currency from being largely specie-based into a modern form of currency. The First Turkish lira remained the official currency until 2005.
Recent GBP/TRY
Turkey faced constant inflation throughout the 20th century and in an attempt to achieve stability, they periodically pegged the currency to many globally prominent currencies. After 2005, the second Turkish lira was created, which is currently used in Turkey. For context, the exchange rate of 1 million First Turkish lira is 1 new TRY. Since then, it has led to a more stabilised rate of exchange.
A recent key event for Britain was the Brexit vote in 2016, which threw the British economy into a state of uncertainty. After the vote, the pound sterling saw its lowest levels since 1985 falling over 10% overnight and hitting $1.3236. Until this day, the referendum has had a lasting impact due to concerns over a successful Brexit outcome. For example, it has led to reduced trade with the EU, which was the biggest market of trade for the UK. This implied a reduced demand for its currency and a lower value for the pound.
In an attempt to restore stability and confidence in the economy, the Bank of England implemented a 10 year plan of quantitative easing, with near-zero interest rates and aggressive bond-buying. Despite this, the GBP has struggled to regain its pre-2008 level. Between 2008 and 2019, the GBP has fallen by more than 40% against USD.
Role Of GBP
When investing in the GBP/TRY pair, you should consider the role these two currencies play. This knowledge can give you a stronger position to make predictions about the market.
The UK’s economy is sixth in the world, with London being home to nearly 30% of daily forex exchange transactions. The British economy is primarily service-oriented, which is followed by manufacturing and agriculture sectors. Banking and insurance are key contributors to the UK’s GDP. Exports play a key role in the economy and the UK stands as the 10th largest exporter of goods and services abroad. Main exports include manufactured goods, fuel, chemicals and food. The main destinations being the US, Germany and France.
The British Pound is the world’s fifth most widely held reserve currency. In the forex market, the GBP currency accounts for around 13% of daily forex trading volume. Other commonly traded pairs include GBP/USD and EUR/GBP.
Britain has had a long history of global economic leadership and a strong currency. However, key political events, such as Brexit, have undermined the previous strong position of the pound. With that said, the volatility this brings provides day traders and short-term traders with good investing opportunities.
Role Of TRY
The Turkish economy is considered an emerging market economy due to its new industrialisation era. Turkey’s geographic location has also been key in its access to foreign trade as it falls on the Silk Road. Turkey has the 13th largest economy for global productions, which include textiles, automobiles, electronics and cement. However, Turkey is said to have a service-based economy as 50% of its workforce comes from service industries. Furthermore, the services sector makes up 70% of the total GDP, which is followed by industrial output and agriculture.
International trade is also a big aspect of economic activity for Turkey, with main trading partners including countries in the EU, followed by Russia and the United States. There is also a customs union being arranged with the EU to increase industrial production for exports.
Final Word On Trading GBP/TRY
As an exotic pair, the GBP/TRY offers great opportunities for diversification in a trading portfolio. It also promises volatility, attracting investors from all over the world. With all the tools at your disposal, it’s important to conduct technical analysis, make use of real-time exchange rates, historical graphs and more.
Whatever investing strategy you choose, maintaining risk management is important when trading with leverage. Furthermore, trading during the ideal investing window is key. It is also worth considering trading with a trusted OTC broker.
Find out more about forex trading.
FAQ
What Type Of Currency Pair Is GBP/TRY?
The GBP/TRY is as an exotic currency pair. It consists of a major currency, GBP (British Pound) and an emerging currency, TRY, (Turkish lira). The GBP is the base currency, while TRY is the quote currency. It shows how much the GBP (base currency) is worth against the TRY (counter currency).
When Is The Best Time To Trade GBP/TRY?
The best time to trade GBP/TRY is between 6am and 4pm GMT. This is when the pair experiences the most volume and volatility, thus generating profits that exceed costs from spreads and commission.
Is The GBP Getting Stronger Against The TRY?
Pre 2008, GBP was a strong currency. However, after the financial crisis and the Brexit referendum vote in 2016, it has seen a negative trend in recent years. But with schemes like the 10-year quantitative easing, it is said to have circumvented extreme depressions. Nonetheless, it still holds a strong economy and is the world’s 5th widely held reserve currency.
How Much Is 1 GBP To TRY?
The live FX spot rate for GBP/TRY is constantly changing. See a live chart for the latest exchange rate between these currencies.
Should I Trade With GBP/TRY?
While trading major pairs like GBP/USD and EUR/USD are more popular, volatile and liquid, trading with the exotic GBP/TRY is a great opportunity to diversify your forex portfolio. Traders should practice strategies in demo accounts during the ideal investing window, keep up with the latest news and utilise resources like charts. When done right, traders can get decent profits from the GBP/TRY.