Turnkey Forex Review
Turnkey Forex Review
Turnkey Forex has five types of real trading accounts, including the swap-free Islamic account and the VIP account. There is also a free demo account and a money management MAM/PAMM account.
The broker offers trading in 85 currency pairs and CFDs on commodities, shares, indices and ETFs.
Turnkey Forex provides VPS hosting for automated trading strategies, including expert advisors (EAs) 24 hours a day 7 days a week without having to maintain any computer hardware, back up internet or power supply. There are three subscription plans starting from $25 per month. The $25 subscription plan is free for clients with more than $5000 in their accounts.
The Company. Security of Funds
Company Country Regulation
Turnkey Forex UK No
The information about Turnkey Forex is rather scarce. It seems it is based in the UK, naturally in Canary Wharf, but is not regulated by the FCA. There are many such brokers and they usually target clients outside of the UK, but as a general rule unregulated brokers are riskier than the regulated ones and should be avoided.
The different regulators have different reputation and some are stricter than others. Overall, among the more serious ones are UK’s FCA and the Australian Securities and Investment Commission (ASIC).
Turnkey Forex offers three trading platforms: MetaTrader 4 (MT4), ZuluTrade and something the broker calls Trade Station.
MT4 is the most popular trading platform and is used by hundreds of forex brokers, both big and small.
Trade Station is not to be confused with Monex’s TradeStation platform, despite the name Turnkey Forex has given to it. In this case it is ActTrader. It is a modular white label platform developed by the software provider ActForex.
It lets users trade in currencies, forex options, contracts for differences (CFDs), futures, equities, and exchange traded funds. The platform is flexible and easy to customize and organize, and unlike MT4 and MT5 comes with built-in one-click trading capabilities. It supports market, stop and limit orders; price alerts; comprehensive charting package with 30 technical indicators and trading-from-charts capabilities, etc. Another feature of the application is ActFX, which allows traders to analyze charts, automatically open or close positions, and backtest trading strategies.
ZuluTrade is one of the oldest social and copy trading platforms with thousands of signal providers and traders.
Turnkey Forex offers several types of bonuses: a 100% deposit bonus, free trades bonus for 30-day commission free trades and a 30% rescue bonus. All three types are subject to conditions set by the broker.
Methods of payment
Turnkey Forex provides several options for account funding: bank transfer, payment through credit or debit card and the Neteller online payment system.
First and foremost Turnkey Forex is not regulated and this should be kept in mind when considering whether or not to use its services. We are not implying all unregulated forex brokers are crooks. For all it’s worth, there are big crooks among the regulated ones as well, but at least they are required to stick to some rules.
In fact, however, Turnkey Forex offers rather good trading conditions, plus some other extras like VPS hosting and money management accounts and scalping.
Turnkey Forex Review Conclusion
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