Broker partners
Midas
SPK-regulated app: zero-commission BIST, flat $1.50 US stock trades
Best for: Türkiye-resident investors who want BIST, US and European stocks in one low-cost app
Minimum deposit
None · fractional shares from $1
EUR/USD
0% commission
Max leverage
None on equities (cash) · BIST margin loans at 48.5–66.5% p.a.
Withdrawal time
Minutes to partner banks; USD under $50k in minutes
Conditions verified on the broker's website on 8 September 2026. Always check the live figures before funding.
About the broker
Midas Menkul Değerler A.Ş. is an SPK-licensed Istanbul brokerage founded in 2020 by Egem Eraslan and wholly owned by Midas Finansal Teknolojiler A.Ş. It reported about 4 million users and monthly trading volume approaching $20 billion in May 2026, and has raised more than $140 million, including an $80 million Series B led by QED Investors in August 2025. It is the venue I use for BIST and US equities, and one of the three venues used for managed accounts.
Trading conditions
- Regulator
- SPK (Türkiye) · Borsa İstanbul member
- Licence
- SPK brokerage certificate K-024 (31 May 2022) · BIST member since 2021 · US assets under SIPC
- Founded
- 2020, Istanbul
- Platforms
- Midas app (iOS, Android) · Atlas web platform
- Commission
- BIST equities 0% · US stocks flat $1.50, European stocks €1.50 per trade · US options $1.50 per contract · VIOP 0.01–0.05%
- Funding
- TRY bank transfer (EFT / FAST) · USD or EUR bank transfer · 12 partner banks with instant crediting
- Islamic account
- Yes
- Support
- App in Turkish and English · support and website Turkish only
Typical spreads
BIST stocks
0% commission
US stocks
$1.50 per trade
TEFAS funds
No Midas commission
Strengths
- Zero commission on Borsa İstanbul with no account, custody or clearing fees
- Flat $1.50 per US trade, fractional shares from $1 and free live data
- SPK-licensed brokerage; BIST holdings at the Central Registry Agency, US holdings under SIPC protection
- Funding and withdrawals in minutes via 12 partner banks, no Midas transfer fees
- One account for BIST, US and European stocks, US options, VIOP futures, TEFAS funds and gold certificates
Watch out for
- Türkiye residents only; no accounts for non-residents or anyone tax-resident abroad
- No CFDs or leveraged forex; BIST margin loans carry high TRY interest
- Support and website in Turkish only; TRY to USD conversion at Midas's own rate rather than a published fee
Common questions
Who can open a Midas account?+
Adults holding a Turkish chip ID card, a blue card or a Turkish foreign ID card who live in Türkiye and are not tax-resident elsewhere. Child and company accounts are also available for Turkish chip-ID holders resident in Türkiye. Non-residents cannot open an account.
What does Midas charge?+
BIST stock trades are commission-free with no account, custody or clearing fees. US stock trades cost a flat $1.50 and European stock trades a flat €1.50 per trade. US options are $1.50 per contract for the first 500 contracts a month. TEFAS fund orders carry no Midas commission. Deposits and withdrawals are free from Midas's side.
Can I trade US stocks and how are they protected?+
Yes. Midas gives access to NYSE, NASDAQ and OTC stocks, US-listed ETFs and US options, with fractional shares from $1 and dividends paid in USD. Shares are held in your name at SEC-authorised custodians and covered by SIPC insurance up to $150 million ($75 million securities plus $75 million cash) per the Midas site.
How does currency conversion work?+
You can deposit USD directly or convert TRY to USD or EUR inside the app 24/7 (USD/TRY and EUR/TRY pairs) using your cash balance; converted funds are usually available to trade immediately. Midas quotes its own rate and does not publish a separate conversion commission.
How fast are withdrawals?+
Withdrawals to Midas's 12 partner banks arrive within minutes. TRY withdrawals to other banks arrive in minutes within FAST limits (larger amounts next business day). USD withdrawals under $50,000 take minutes and $50,000–$200,000 about an hour in business hours. Midas charges no withdrawal fee; SWIFT fees from third-party banks may apply to non-partner USD transfers.
How to open an account
Accounts with Midas are opened through NUUK under our partnership agreement. Contact us and we will guide you through the onboarding; the steps below show what the broker will ask for.
- 1
Download the Midas app from the App Store or Google Play and sign up with your mobile number
- 2
Verify your identity with a Turkish chip ID card, blue card or foreign ID card; you must be 18+ and resident in Türkiye with no tax obligations abroad
- 3
Complete the in-app application and e-sign the investment account agreements; the process takes about 5 minutes
- 4
Fund the account by bank transfer in TRY or USD (from any bank; partner-bank transfers are credited within about 2 minutes)
- 5
Buy your first stock: convert TRY to USD in-app if needed and place an order for BIST, US or European shares from $1/€1
Links on this page are referral links. If you open and fund an account through them NUUK earns a commission from the broker. This does not change the spreads or commissions you pay.
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