- Start trading with a minimum deposit $10
- Tight spreads starting from 0.0 pips
- Same day withdrawals without any charges on withdrawal
- Low commission
Spread:from 0,0 p
Instruments:Forex, Commodity, Shares, Indicies, ETFs
Turnkey Forex Review
Table Of Contents
Turnkey Forex Review - Outline
|Broker’s Name||Turnkey Forex|
|Headquartered||Quatre Bornes, Mauritius|
|Platform Types||MetaTrader 4, MetaTrader 5, Web Terminal, Mobile app|
Turnkey Forex Review – Synopsis
Turnkey Forex entered the financial markets as an investment advisor for institutional investors and then emerged as a reputed forex broker over the years. They have been active in the financial markets since 2014 and headquartered in London. They offer their services to clients all over the world and have users from 150+ countries at the moment. You can trade Forex, Commodities, Indices and crypto currencies on this trading platform. Turnkey Forex is a pure ECN broker with 20 major liquidity providers offering competitive spreads that can go as low as 0.0 pips for EUR/USD.
Turnkey Forex Review- Security Of Funds
Turnkey Forex ensures the highest level of security for the client’s funds by holding them in a segregated client bank account with an approved banking institution.
- All funds are kept in a cold storage wallet with no online linkage.
- An encrypted system to protect all the data so that no third party can access or make changes to it.
- Turnkey Forex also uses an advanced SSL technology to protect the privacy of its users and keep all the personal information that you enter on the platform safe and secure.
Turnkey Forex Review – Trading Platforms
Turnkey Forex users get to trade MT4 and MT5 platforms along with MT4/MT5 Web Trader and a mobile app to trade on the go.
Turnkey Forex Review – MT4
MT4 continues to remain a popular choice of traders around the world for novice as well experienced traders over the years. And Turnkey Forex also tries their best to support you to use the MT4 Platform with most ease and convenience.
Turnkey Forex Review – Perks Of Using MT4 Trading Platform
- Access to forex from anywhere in the world 24 hours a day
- Real-time pricing & charts
- Up to 10 open charts opened simultaneously
- Full-featured trading system & easy access to trading account
- User friendly interface
Turnkey Forex Review – Features Of MetaTrader 4
- Trade fx, commodities, indices, cryptocurrencies
- Variable spreads starting from 0.0 pips
- Free ios/android mobile apps for on the go trading
- Advanced customizable charting and analysis tools
- Copy experienced traders with mql5 ide & ea integration
- News and alerts informing you of the important market events
Turnkey Forex Review – MT5
MetaTrader 5 is just the advanced and upgraded platform which is becoming a favourite of many traders due to its innovative tools and features. MT5 trading platform can be perfect for someone who is looking to dive deep into the financial markets with an advanced toolkit to assist them throughout. MT5 platform can offer you a very smooth trading experience, suitable for all levels of traders.
Turnkey Forex Review – Features Of MT5 Trading Platform
- 6 pending order types
- 9 timeframes
- 44 graphic objects
- Strategy tester
- Partial order execution and new order fill policies
- Crypto denominated accounts
Turnkey Forex Review- MT4/MT5 Web Trader
This can be a perfect choice for every trader who is looking for a browser based web trading solution. This platform promises you to provide you the best trading experience with its cutting edge technology and user friendly interface. This eliminates the need for the installation of any additional software as you get to trade freely with your web browser alone.
Turnkey Forex Review – Features Of Turnkey Forex MT4/MT5 Web Trader
- Trade 66 forex pairs, 4 commodities, 11 indices and 5 cryptocurrencies.
- Multiple order types
- Comprehensive market watch
- Tightest spreads from 0.0 Pips
- Ability to run all Expert Advisors (EAs)
- Secure client terminal
- Leverage up to 500:1
- Live streaming of prices
- Fully customizable desktop
- One click trading
- Multiple order windows
- No requotes and no hidden charges
Turnkey Forex Review – Trading
Turnkey Forex provides a robust and user friendly trading platform that meets the needs of all kinds of traders whether they are beginners or experienced professionals. You can either choose the traditional MT4 platform or advanced MT5 platform and even go with the MT4/MT5 Web Trader without installing any other softwares. They also have a User friendly mobile app to trade on the go with convenience. The minimum deposit is just $10 which makes it perfect for a beginner who doesn’t want to risk much during their initial period.
Turnkey Forex Review- Advanced Trading To Give You An Edge
Turnkey Forex has all of the advanced features and tools that an experienced trader would need to build and maintain their competitive edge.
- Wide Range Of Asset Offerings :
With Turnkey Forex you can trade 66 currency pairs in the forex market, commodity market instruments including gold, silver and crude oil, Indices and crypto currencies. You can choose to trade any of these markets with competitive trading conditions offered by Turnkey Forex.
2. Fast Execution Speed : Turnkey Forex being a pure ECN broker partners up with 20 liquidity providers which includes Tier-1 banks and ECNS. The liquidity ensures minimum slippage making it a perfect platform for scalpers. All your orders will be placed and executed without any delay and glitches as well.
3. Negative Balance Protection : Another attractive feature offered by Turnkey Forex is their Negative balance protection that is available to all clients. This prevents your account balance from going negative in case of an increased drawdown. This feature is very helpful in minimising the risk of trading in the highly volatile markets.
4. VPS Hosting : The Virtual Private Server allows traders to run a variety of automated strategies including EAs on the platform without having to run your computer hardware, device or without any internet backup and power supply. Turnkey Forex clients can access VPS service from third party providers to enjoy a seamless trading experience on the platform without worrying about connectivity issues.
5. Trading with Expert Advisor (EA) : Turnkey Forex also offers Robot trading or EA trading facility to its users which allows them to automate their trades using an Expert Advisor. The platform supports all kinds of EAs and you can choose an Expert Advisor of your choice for automated trading with Turnkey Forex.
Turnkey Forex Review- PAMM Accounts
The PAMM account feature is something that can greatly benefit many people who want to make profits without actually entering any trades themselves. It is a form of pooled money forex trading where you get someone to trade on your behalf. You don’t need to set up a strategy or trade on your own when you use an account manager’s service. This account manager will be responsible for handling the consolidated funds of many investors like you as they trade with them.
You can earn profits without actually engaging in trading as the account manager will trade on your behalf with your funds. The manager will be rewarded with a commission for their service. This commission will be decided on the basis of the mutual agreement between the manager and investors. These managers cannot do anything with your funds except trading. You are in total control of all the deposits and withdrawals. But you cannot enter any trades yourself. The trading function is bestowed upon the account manager chosen by you.
Let’s Have A Brief Review About How The Turnkey Forex PAMM Accounts Work
- A manager can open a PAMM account only when they meet the requirement of having at least 3 investors or sub accounts with a cumulative deposit of $5000.
- The investors have to give their consent that they are delegating the trading rights of their funds or account to the PAMM manager and also agree upon their commission or performance fees which will be paid from the trading profits later on.
- The PAMM manager will perform trades on their own account and they will be later copied or allocated to the sub accounts of investors.
- The account manager cannot perform any other activity except trading with the funds allocated by investors. They cannot withdraw the funds from the investor’s account in any situation.
- The investor or sub account owner exercises full control of their funds in terms of deposit, withdrawals and also has the right to request the account manager to detach their account from the settlement anytime they want. The only right that you don’t have is entering trades yourself as that will be done by the account manager only.
- The performance fees of the PAMM manager will be transferred from the profits of investors by the broker Turnkey Forex based on the predetermined percentage.
Turnkey Forex Review – Accounts
You can open 3 types of trading accounts on Turnkey forex. First one is a free demo account where you get to trade with virtual money. Second one is a pure ECN account and the third one is an STP account. Let’s review all these accounts in detail.
Turnkey Forex Review – Demo Account
Demo trading accounts are very useful for a beginner as they get to practice trading and learn without risking any real money in the process. Turnkey forex also offers a free demo account which you can use for practice or for checking the trading conditions and user interface of the platform. You get to trade in the real time market conditions with virtual money without any risks.
Turnkey Forex Review – ECN Account
Turnkey Forex is a pure ECN broker and an Electronic communication Network facility links the accounts of all the participants in the market including individual traders, investors and banks. A pure ECN account with Turnkey Forex offers tighter spreads, lower commission and high speed order execution so that you can trade all the financial instruments with ease. You can open a live trading account by depositing the minimum balance amount which is $10.
Turnkey Forex Review -STP Account
STP stands for commission free ECN account. There is no other difference in its functioning except the fact the commission will be adjusted with the spreads. So the only charges that you will have to pay here will be the spreads. And the broker’s commission will be added with the spreads itself.
Let’s review the features of both accounts in detail so that you can easily choose which one will be suitable for you when it comes to Turnkey Forex.
|ECN Account||STP Account|
|Commissions||$1 per lot||$0|
|Spreads||From 0.00 Pips||From 0.2 Pips|
|Trading Platforms||MT4, MT5, Web Trader, Mobile, Act Trader||MT4, MT5, Web Trader, Mobile, Act Trader|
|Execution||Market Execution||Market Execution|
|Trading Instruments||Forex, Commodities, Indices, Cryptocurrencies||Forex, Commodities, Indices, Cryptocurrencies|
|Min Trade Size||0.01 lots||0.01 lots|
|Max Trade Size||100 lots||100 lots|
|Leverage Available||Up to 500:1||Up to 500:1|
|Account Base Currency Available||USD, EUR, BTC, XRP, LTC, BCC and ETH||USD, EUR, BTC, XRP, LTC, BCC and ETH|
|Stop Out level||50%||50%|
|Min Account Opening Balance||US$10||US$10|
|Deposit Bonus||Up to 100%||Up to 100%|
*Commission on cryptocurrencies is $1 per $100K and on stock indices is 0.1$ per lot.
Turnkey Forex Review – Trading Cost
Turnkey Forex is offering very tight spreads which can go as low as 0.0 Pips and the average spreads are just 0.2 pips. The commission is also pretty low in case of an ECN account which is fixed at $1 per lot per side. The spreads are variable and will be reduced to a great extent with the liquidity provided by Turnkey Forex. You can also avoid commissions by signing up for an STP Account and it does not make much difference to the spreads as well.
Turnkey Forex Review – 100% Deposit Bonus
Another attractive feature of Turnkey Forex is the 100% deposit bonus given when you make a minimum deposit of $100. This can be used to double your trading margin by availing the 100% bonus everytime you make a fresh deposit to your trading account by adding funds. One thing to note here is that a trader cannot withdraw this bonus and it cannot be lost as your positions will be stopped right before your account gets to a point where you can lose the bonus. You can use this bonus freely for trading and boost your trades with an extra margin.
Turnkey Forex Review – Leverage
The maximum amount of leverage that you can avail on Turnkey Forex is 500X and it will be applied in proportion based on the market instrument that you are trading with . You can get upto 500:1 leverage when you trade with any major currency pairs in the forex market. The leverage availability for different trading instruments with Turnkey Forex is as follows.
- Commodities- 500X
- Indices- 500X
- Major currency pairs- 500X
- Minor currency pairs- 300X
- Exotic currency pairs- 200X to 50X depending upon the pair
- Cryptocurrencies- 5X
Turnkey Forex Review – Client Support
Turnkey Forex offers its clients 24/5 live chat and call support and email response within 12 hours of query. You can avail customer support from the broker for 24 hours a day and 5 days a week.
Turnkey Forex Review – Conclusion
Turnkey Forex surely offers tight spreads and enough liquidity to all its traders as a pure ECN broker. You can also sign up with the platform for availing PAMM account facility if that is something that you find useful. You can even use an EA for automated trading or copy the trades of experienced traders with the social trading tools available on the platform. We can conclude that it is a beginner friendly trading platform with all of the advanced tools needed by an experienced trader as well.
Turnkey Forex Review - FAQS
Yes, Turnkey Forex is a scalper and hedging friendly broker
You can deposit funds to your Turnkey Forex trading account via Credit Cards, Debit Cards, cryptocurrencies (including Stable Coins), VLoad and bank wire transfer.
Turnkey Forex will process all withdrawals within 12 hours.
Yes, you can open multiple accounts in Turnkey Forex and transfer funds between these accounts if there are no open positions in the account from which the funds are being transferred.
Yes, you can use any Expert Adviser for automated trading on Turnkey Forex.
You can hold them however long you want as long as there is enough margin in your account for covering the losses of that trade if it happens.
Turnkey Rollover occurs at GMT 23:55 GMT +3
No, Turnkey Forex does not charge any inactivity fees.
You can open an account on Turnkey Forex with two base currencies in MT4 & Act Trader- USD and EUR and seven different base currencies in MT5: USD, EUR, BTC, XRP, LTC, BCC and ETH
Turnkey Forex generates and sends the account statements at the end of each trading day automatically.