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Turquoise (LSEG) Review
Turquoise is a pan European share trading venue majority owned by London Stock Exchange Group. Banks and brokers use it to trade shares, not individual retail account holders.
Min Deposit
N/A
Spreads From
Not applicable, Turquoise is not a forex or CFD broker
Max Leverage
Not applicable, no margin trading is offered to individuals
Platforms
Turquoise Lit, Turquoise Plato
Pros
- Majority owned by London Stock Exchange Group, a listed and well known operator
- FCA authorised since January 2011 with a clear public register entry
- Covers around 4500 securities across 20 European countries from one connection
- Backed by major banks including Goldman Sachs, UBS, and Morgan Stanley as members
Cons
- Not a retail broker, individual traders cannot open a direct trading account
- No forex or CFD products, only shares, depositary receipts, and ETFs trade here
- Access depends entirely on using a bank or broker that connects to Turquoise
- No public fee page for individuals, since pricing is built for member firms
Nine investment banks built Turquoise in 2008 as a rival to the main stock exchanges. The holding company behind it, now called Turquoise Global Holdings Limited, was set up in December 2009, soon after London Stock Exchange Group bought a majority stake in the platform.
Turquoise runs two trading venues today, one in London regulated by the FCA and one in Amsterdam for the EU market after Brexit. Banks and brokers connect to trade around 4500 shares, depositary receipts, and ETFs from 20 countries. There is no forex or CFD trading and no public account you can open, access runs through a member firm.
Turquoise Global Holdings Limited has been authorised by the FCA since January 2011, under firm reference number 525956. In 2023 it added Turquoise Retail Max, a service that helps retail brokers get a better price for their own clients, but ordinary traders still cannot sign up with Turquoise directly.
Max Leverage
Not applicable, no margin trading is offered to individuals
Spreads From
Not applicable, Turquoise is not a forex or CFD broker
Platforms
Regulators
- FCA (UK)
