Turnkey Forex Review 2023 A Scam or Legit Forex Broker ️
However, I took a good full time job which takes a lot of my time during the day, so I had to quit trading. But, a friend recommended me this broker, since he has a managed account, with solid monthly returns. Despite that I know the such accounts have some risks, I have placed some smaller amount, just to try it. For the last three months, I am satisfied with returns, as they range within my trading average.
This is crucial for beginners as it allows them to enter and exit trades quickly, reducing the risk of losses due to price fluctuations. Turnkey Forex offers clients online trading on more than 100 assets via the MetaTrader 4 (MT4) and Trade Station platforms. The turnkey broker broker provides the options of managed (MAM) accounts, social trading platforms and a free virtual private server (VPS) to support clients in their trading activities. They are however lacking regulation which should make traders think twice about using them.
In my days in high school, I was exposed to forex trading and could have started trading since then, but my dad discouraged me; he said forex trading is a scam. I got scared of trading, and I promised him I wouldn’t try trading at all. I got the opportunity to trade when I was in the university too, but I saw it as a gamble, and I was not ready to throw my money away. It was when I attended a seminar where someone talked about being a forex trader that I started to think that forex might be a good choice for me. I saw that many people lose money because of the wrong choice of broker. I learned how to trade from a professional who had been trading for more than ten years, and he recommended turnkey as the broker to use.
If your trading strategy is not solely based on forex, but you have a more diversified approach, you can opt for MetaTrader 5 instead. Similar to MT4, it packs powerful analytical tools, technical indicators, and fundamentals, and can be customized to cater to your specific needs and trading objectives. Turnkey Forex is a brokerage company offering trading services for clients
. Yes, Turnkey Forex offers swap-free Islamic accounts for Muslim traders. All through the time when the market’s open, day or night, Turnkey Forex is available for helping out their customers and clearing their doubts. Their instant web chat can instantly connect anyone on their website to their customer support desk.
Tight spreads are available for all the different account types. It is common that ECN accounts provide tight spreads and the spread for standard accounts is usually around 1.0 for most brokers. But to my surprise, the spread for the ECN account for Turnkey is 0.00 while the standard account also offers zero spread which averages around 0.2. The standard and ECN accounts work for scalpers and long term traders. The only difference I see is that one has to choose based on whether he wants the fees to be part of the spread or if he wants to be charged a commission. A good broker constitutes a good service for traders in terms of many criteria including trading instruments,
deposits and withdrawals, as well as customer support.
As for the payment methods, you can choose between
Crypto, Credit/debit cards, Neteller, Skrill and Wire transfer. The customer support is available via
Callback, Email, Live chat, Office, Phone, Skype and Web form. For some time now I am trading crypto coins with this https://www.xcritical.in/ broker, because, in my personal view, this broker offers some of the lowest costs of crypto trading on the market. Here I have possibility to trade crypto on an ecn account, where costs of trading are significantly lower, comes with $1 fixed plus a small spread.
This involves the trading of gold, silver, and other precious metals as hard commodities that are contract-based tradable. Turnkey Forex provides MT4 free of charge as a downloadable desktop application for Windows PC and a mobile trading application for Android and iOS devices. Once the account has been created a verification email will be sent to activate the account. Navigate to the website homepage and select the option to open an account. Turnkey Forex is a registered trading name of TurnKey Forex Limited launched in 2016 and has its headquarters in Mauritius.
This broker offers access to several asset classes, including currency pairs and commodities, indices, and cryptocurrencies. These are available via one of the three platforms detailed below. Just switched from a demo account to live, the trading conditions seem to be good. The Electronic Communication Network offers the best conditions for trading. For instance, it allows the traders to give specific preset conditions at which they would like to trade.
Demo accounts are available on Turnkey Forex, where traders can use virtual funds for practice purposes. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. I learnt that there is also protection against negative balance. If it happens that I have a negative balance, I will open another account elsewhere. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation.
Turnkey Forex includes VPS hosting, robo trading, and trading calculators as well as access to MT4, MT5, and Act Trader. Learn everything you need to know about this forex broker by reading our complete Turnkey Forex review. It is quick and easy to deposit funds into your Turnkey Forex trading account. Funds can be deposited using a wide range of payment methods including Credit Cards, Debit Cards, Cryptocurrencies (including Stable Coins) and Bank Wire Transfer.
Turnkey Forex offers commission-free trading on its STP account. Expert Advisors and algo trading can be made use of, on these accounts. It allows hedging and scalping as well, and just like ECN account, offers a 100 % deposit bonus by just sending an email to their support team.
- If that wasn’t enough, Turnkey Forex have kindly provided some standalone tools to further enhance the trading experience.
- I found the broker to have very good forex trading conditions, including spreads from as low as 0.0 pips, commission starting at just $1, flexible leverage and quick trade execution speeds.
- It is quick and easy to deposit funds into your Turnkey Forex trading account.
- I think they could improve by adding some more funding options such as digital wallets.
- Traders can reach out to the support team via live chat, email, or phone.
I prefer trading using Mt5 with Turnkey FX because I can use Sell-Stop Limits and Buy-Stop Limits orders, my friend on the other hand prefers Mt4 with the old-fashoined limit and stop orders. I recommend this broker because they are quite versatile and accomodate most traders. Besides Mt4 and Mt5 this broker also offers has a Web Trader with most of the necessary charting tools. Turnkey Forex provides a trading opportunity on STP/ ECN execution model (Check ECN Brokers) to trade 85 currency pairs, CFDs on commodities, ETFs, indices, and shares. This company is unregulated does not except debit or credit cards only crypto or wire transfers. I literally watched my money disappear as I was watching the trade while the trade was going in my favor.
Yes, apart from robo trading, Turnkey also allows manual trading. Both platforms are available as downloadable software, via your browser (WebTrader), or as a mobile phone app. Regardless of your skill, preference, or availability, one of these solutions will surely match your needs and preference.