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About Turnkey Forex
Registered in 2016, Turnkey Forex is an online forex broker offering a wide range of market instruments, including forex, currency pairs, commodities, indices, and cryptocurrencies. Turnkey Forex has its headquarters in London, UK. The specific address of this broker is 5th Floor, Ebene Views 66C2 Ebene Quatre Bornes, Mauritius.
Is Turnkey Forex legit？
No, Turnkey Forex is not legit. It is an unregulated broker that recently doesn't hold a legitimate license. According to WikiFX, this broker has been given a very low rating of 2.08/10. An unlicensed broker with such a low score is likely to take your money away fraudulently. We advise traders to avoid the potential risks.
Account Types
Turnkey Forex has two accounts, they are STP account and ECN account. According to the Turnkey Forex website, ECN and STP accounts are exactly the same, the only difference being that in the STP account, the commission charges are included in the spread, while in the ECN account, there are raw spreads and a very low commission. To open an account, the minimum balance is $10.
Leverage
This broker offers clients leverage of up to 1:500. it is considered high. Note that high leverage can amplify profits as well as losses. It is unsuitable for inexperienced traders to invest in this broker.
Spreads & Commissions
The minimum spreads for the STP account start from 0.2 pips. The commission for ECN accounts is $1 (per side) per standard lot. Commission on cryptocurrencies is $1 per $100K and on stock, indices are 0.1$ per lot. The commission for STP accounts is $0.
Deposit&Withdrawal
Traders can deposit money from this broker via Crypto payments, instacoin, and Vload, and withdraw money via Cryptocurrency, PayPal via Coinbase, and VLoad. However, you have to pay an extra fee in order to withdraw. If you deposit money via Crypto payment and Vload, the minimum deposit fee is $10. If you deposit money via instacoin, the minimum deposit fee is $50.
Customer Support
there is a customer support team that is available 24/7.
Trading Platform
Turnkey Forex offers traders a wide range of trading platforms, including the industry-leading MT4 and MT5 trading platforms, as well as web terminals, mobile apps, and ActTrader, to meet a wide range of traders' needs.
Feedback on Twitter
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There is an official account of Turnkey Forex on Twitter. It was registered in 2016 and has 54 followers recently.
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There is one trader who praised Turnkey Forex on Twitter. We dont know if he is a shill of Turnkey Forex.
Exposure on WikiFX
Currently, there are no traders‘ complaints related to Turnkey Forex received by WikiFX. However, it doesn’t mean that you can fully trust this broker.
Conclusion
WikiFX doesn't advise traders to invest in unregulated brokers. Turnkey Forex is an unregulated broker that no one can hold this broker accountable for if something goes wrong. We advise investors to do more research before making a decision. If you want to know more information about the reliability of certain brokers, you can open the WikiFX website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.
Click on Turnkey Forex' WikiFX page for details
