up to 100%
up to 100%
no Deposit Bonus
- Regulated By:: CySEC
- Headquarters:: N/A
- Foundation Year:: 2011
- Min Deposit:: $5
Turnkey Forex- a London based Organization that offers 100+ assets for every trader through efficient platforms such as Trade Station and MT4 (MetaTrader 4). The broker also has five-types of real accounts as well as free demo accounts and a money management account (MAM). It also offers social trading platforms so as to guide the traders throughout their trading experience.
Turnkey Forex happily offers trading in more than 85 currency pairs and CFDs on shares, indices, and Commodities- Everything just under a single roof!
Pros and Con- revealed 2020!
- Access to VPS and MAM available.
- Offers Social Trading via ZuluTrade.
- You can start with a minimum balance of $5 to start with.
- Traders with a balance of at least $5000 can avail free VPS.
- Tight/ low spreads on major currency pairs.
- Easy-to-go registration and verification process.
- You can connect it with 2 different copy-trading networks.
- 200+ stocks are available to deal with.
- Highly automated system for trading provided when requested.
- It is not a regulated broker.
- There is no such thing called- Daily market analysis.
- There are limited non-FX trading tools for traders.
- To avail the best trading experience you need to have a lump sum of the deposit.
- There is no trader’s training academy for the newbies.
Now let us start with the review based on our team’s hard work and research. Here, we have tried to compile all the crucial aspects you can consider when choosing the best forex trader for your trading requirements.
Turnkey Forex: The Broker Insight
Turnkey Forex is a CFD and forex broker that aims to provide trading services to satisfy traders of different experience levels according to their needs. They do not follow the traditional sales culture when compared with other brokers available and focus on a unique mantra: CUSTOMER IS KING. With around 5000 clients from across 190 countries, the broker feels the pride to highlight that more than $10 million has been invested by the traders using their platform.
Turnkey Forex is a complete ECN broker that has successfully incorporated modern technology to promote liquidity from the providers, intending to provide top-notch services to the customers. Moreover, there is no dealing desk (NDD) involved, the reason being that Turnkey Forex is a complete ECN or STP broker with optimum trading servers based in Amsterdam.
The broker as mentioned above is UK based and is rather scarce. Turnkey Forex provides VPS hosting for many trading strategies that include professional guidance from expert advisors (EA’s) 24*7- something we all look for.
There are up to 100 trading instruments/ tools in five asset classes. The trade is executed within the blink of an eye, and you can use your create and implement your trading styles and strategies- What else to ask for!
The broker offers services in terms of the long-range of forex pairs, along with CFD which is based on shares, major stock indices, commodities, and much more. If we talk about forex offering, the broker offers spreads as low as 0.00 pips, which is considered to be its main selling point in the market.
Turnkey Forex: Regulations
Turnkey Forex is not a regulated broker. There is no regulatory information available on any website regarding the same. It is a Secure Socket Layer (SSL) encrypted technology that is responsible to protect all the data provided by the traders from hackers and other fraudulent. This makes Turnkey Forex a completely secured platform to deal with.
Deposits from the traders are held in various accounts linked to the top banks of the world. So, the money you deposit is completely safe even if the broker suffers through conditions like financial crises. Your money is in safer hands!!
Countries Covered by Turnkey Forex
Turnkey Forex can accept clients from many countries that exclude the USA and others. You may not find it available to traders from some countries because of the restrictions.
Turnkey Forex offers three trading platforms:
- MetaTrader 4 (MT4)
- Trade Station
- Zulu Trade.
MT4 is the most popular trading platform, which is used by many forex brokers. It allows traders to buy or sell currencies, forex options, CFDs, futures, commodities, equities, and indices. The platform is quite flexible and easy to personalize as well as organize, and unlike MT4 and MT5 comes with one-click trading features.
Trade Station is available on Windows- PC, MAC, and on Smartphones through iOS and Android apps.
Trading Tools to Access
Turnkey Forex allows the traders to create a ZuluTrade account so that they can partake in social trading. You will find thousands of traders who tend to be registered as the signal providers on this platform. ZuluTrade is one of the oldest social as well as copy trading platforms with a number of signal providers and traders.
Traders can view profile to verify the performance statistics. Basically, social trading provides the trader with the right opportunity to copy a trade even when they do not have the required trading knowledge.
MAM- Multi Account Manager Account
This tool is for investors who want to trade on behalf of other traders. The manager tends to prepare his/her proposal highlighting the fees involved. You can view the MAM list and choose a manager which is based on his rankings, reviews, and performance. Just be well-aware of the terms and conditions in terms of the profits, risks involved, allocation of funds, and more.
Virtual Private Server (VPS)
Turnkey Forex is a partner with a third party Virtual Private Server Provider. This is to ensure that your trading is secure and safe 24/7. These services if the best for the EA traders and those who desire to make a profit without power, hardware, or any other technical problems. Turnkey Forex offers free VPS for the traders who have a minimum balance of $5000 or else you can get yourself a monthly subscription (that will cost you around $25, @45, or $80 accordingly).
This is for traders who love to run complex algorithms or for the ones who want to develop their own trading systems. It is available for both the platforms- MT4 and the Trade Station. Turnkey Forex offers FIX APIS to the traders with a minimum deposit balance of $25000.
Again for the traders who tend to maintain a balance of $5000 and trade at least 10 rounds in the mini lot every month. Robo Trading is customized on the bases of the questions answered by the traders. You can easily monitor your performance, especially if you understand the risk factors involved.
Turnkey Forex: Trading Instruments
Turnkey Forex offers various instruments for trading online, such as:
- 8 stock CFDs
- 11 Indices
- 85+ currency pairs for forex trading
- 8 EFts and Commodities
Trading Accounts and Fees
Turnkey Forex provides you with several accounts trade with. The accounts depend on the trading capital and other conditions. As a trader, you can get access to trade using MT4 and Trade Station platforms. Additionally, the trade size may vary from 0.01 lots to 100 lots according to your trading needs and account types. Here are the account types you can get access to with this unique broker:
- Micro Account: Designed for the newbies who are looking for a minimum balance of $5.
- Swap Free Accounts: These account types are for the traders who wish to have a swap-free account.
- STP Account: You need to have a minimum account balance of $200 to access this account. However, the spreads start from 0.2 pips, and they commission-free with the leverage of 1:200.
- ECN Account: The best account one can avail of! This account type comes with really low spreads, low deposits & commissions, and amazing trade execution.
You can also create demo accounts, especially if you are new to the world of trading. Turnkey Forex makes sure that these accounts are risk-free and are pre-loaded with virtual funds so that you can get acquainted with trading.
Turnkey Forex claims that they are married to their clients and therefore, they are always available to assist traders on a 24*7. You can always use the chat option available on the website. State the issues you are facing and the team will automatically reach you back by email and telephone.
Deposits and Withdrawals
Here are the payment options accepted by Turnkey Forex:
- Bank Transfer: Generally takes 3-7 days to complete a bank wire transfer. You need to have a minimum balance of $5.
- Debit/Credit Cards: Here, the deposits are instant, but somehow the withdrawals take up to 2-5 days.
- Online Payments: You can use Neteller and Skrill to make online payments. The transactions are processed instantly and the withdrawals make take up to 2 business days.
- Cryptocurrencies: The traders can add funds to their accounts using digital currencies like Bitcoin, Litecoin, and more.
How to open an Account on Turnkey Forex?
It is very easy for you to open an account with Turnkey Forex. It is just a matter of 5 minutes to open a professional trading account, without any restrictions in terms of funding or trade.
All you have to do is to create an account by visiting the broker’s official website and click on the REGISTER button. Fill in the details & you are to go. Start by making the required deposits to start trading.
Turnkey Forex is quite a promising broker despite being an unregulated platform. They are known for the transparency, as mentioned on the website that they have traded over $100 Million and has more than 5,000 traders from around 190 countries. By looking at the above details, we can also say that the broker happily offers a variety of accounts that are easily accessible by a huge spectrum of potential traders and a big list of assets you can trade on.
They also provide commendable customer services and are reliable and efficient when it comes to their customers. You can also avail of several bonuses offered by creating an account with them. Lastly, if you are feeling a little more curious about the broker visit their official website and get yourself ready to be a winner in the trading market.