Turkey’s Answer to Robinhood Aims to Tap Retail Stock Buzz
- Midas brokerage founded by two 28-year-old high school friends
- Firm will offer trading in Turkish, U.S. shares through an app
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Turkey’s first commission-free trading platform intends to be ready to start operating early next year, tapping into burgeoning demand among locals to invest in the stock market.
Midas Menkul Degerler AS, founded by 28-year-old high-school friends Egem Eraslan and Umut Bozkurt, aims to be the most-digitalized trading venue among Turkish stock brokers. The company will test its software with a “limited group” of customers over coming months before the full launch of a service that’s drawn comparisons with U.S. no-fee brokerage app Robinhood.