Turnkey Forex Review
Turnkey forex is an international low commission broker, known for excellent customer service. They offer a wide range of assets to trade, inclusive of forex, commodity, shares, indices and ETFs, through MetaTrader and Trade Station platforms.
Pros and Cons
Turnkey Forex was established in the year 2016. They started from being an investment adviser, to becoming one of the most trustworthy brokers to their clients. Their interactive and transparent connections with their customers 24/7 have earned them the label of being one of the most reliable brokers.
Headquartered in London, Turnkey Forex has over 5000 clients, from over 190 countries. More than $100 has been traded by the clients of the broker so far. This non dealing desk broker has its servers in Amsterdam. All kinds of trading strategies are allowed by Turnkey Forex, making them ideal for all types of traders.
Turnkey Forex Limited is the registered name of the broker Turnkey Forex. The safety of clients’ funds is ensured by encryption technology called SSL – Secure Socket Layer, which prevents unauthorised access. Also, the capital of the clients’ are kept segregated from the operational capital of the company. Various firewalls are used to ensure further security to all of the clients’ money.
Turnkey Forex accepts clients from all over the world. There is no restriction to anyone from making use of the various benefits offered by the broker.
One of the most user-friendly trading platforms, MT4 is available on Turnkey Forex to download and start trading. The MQL4 programming language is used for developing different kinds of plugins that can be used to customise the platform. This fast and reliable trading platform is provided free of cost by Turnkey Forex to be downloaded on both Android and IOS devices.
MT4 provides real time access to the live price action. Additionally, live charts of all the assets are provided over 9 time frames from as short as a minute to as long as a month. EAs can be used to automate trades on the platform. Stop orders as well as risk management tools are a part of MT4. One-click trading and alerts are some other helpful features of the platform on Turnkey Forex.
This trading platform is only available to the existing clients. New users of Turnkey Forex are no longer given the option of using Trade Station as a trading platform. New streams, live charts, customised interface and real time asset quotes are some of the distinct features of this platform.
Zulu Trade – the foremost name in the sphere of social trading – is offered by Turnkey Forex to facilitate social trading. Copy trading, where many new traders mirror the trades of seasoned traders, through signals that are provided to them, is a distinctive feature of this broker. This makes it possible for traders of all levels to make profits. The investor can view performance statistics, make deposits and fix up risk parameters.
Trading Instruments / Accounts
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. The trade size ranges from 0.01 lots to 100 lots. The leverage offered can extend up to 400X. $200 is the minimum balance required in order to open this type of account with Turnkey Forex.
Turnkey Forex offers commission-free trading on its STP account. The spreads start from 0.2 pips. 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 100 % deposit bonus.
The best part about Micro Accounts on Turnkey Forex is the extremely low amount of balance required to open account – $5. The maximum leverage offered is 200:1 and the base currencies available are USD and EUR.
Swap Free Account
This no-commission account of Turnkey Forex is ideal for long term investors as well as religious traders. The swaps are not adjusted every time. Hence when positions are moved through midnight, the traders get the benefit of escaping any potential losses. The minimum balance required to open this type of account is $100.
For traders with huge amounts of capital to invest can make use of the VIP Account of Turnkey Forex. There is no maximum trade size that is fixed, and the spreads start from 0.0 pips. A minimum balance of $25000 is required to open this account.
MAM accounts of Turnkey Forex are an excellent option for traders with less time or experience to trade profitably. A single money manager takes upon the investment activities and retains a certain percentage of commission from the trades. Turnkey Forex lists a number of MAM managers, one of whom can be chosen by the investor.
Turnkey Forex is very versatile with its payment options. All withdrawals with the broker are processed in a maximum of 2 working days.
The different methods that can be used for making deposits are as follows:
- Bank transfers – A bank wire transfer can take anywhere between 3 to 7 days to be completed. It can be used for depositing as well as withdrawing funds from trading accounts.
- Card payments – Instant processing of deposits takes place. Both MasterCard as well as Visa debit and credit cards can be used for making payments.
- Crypto currencies – One of the best things about Turney Forex is that they accept crypto currencies as funding options. Bitcoin, Ethereum, Litecoin, TUSD and USDC cryptos can be used.
- Online payments – Skrill and Neteller are the two payment portals used by Turnkey Forex for instant processing of deposits.
Contact and Customer Support
All through the years, and around the clock, 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. The email queries are replied in a matter of a few hours. They can even be reached through telephone.
An account with Turnkey Forex can be opened in merely five minutes. There is absolutely no compulsion to trade or fund the account instantly. The signing up form can be found on clicking the ‘Register’ button on the broker’s website.
Turnkey Forex is a reliable broker with a very impressive record of a large volume of trades that have been undertaken on their platform. The VPS and API trading facility that they offer make them one of the most new-age brokers of today, offering excellent trading conditions.