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. When I started to trade indices, I didn’t know much about it, but I was only gambling. I had to learn properly and now I make money through Turnkey forex. There is rarely any two months period that I do not make withdrawals from my account.

• The platform supports the use of stop-loss orders, which allow traders to set a predetermined level at which their positions will be automatically closed.
• They are in range from 1-3 pips on eurusd even during rush hours, so it does not impact much profitability, considering that I daily have dozen of deals.
• Turnkey Forex offers free VPS service for traders who maintain a minimum balance of $5,000.
• As mentioned, most offshore companies have no financial regulations, which is the exact reason for this Turnkey Forex review.
• The ECN account spread starts from 0.0 pips and a commission of $2 per $100,000 is charged for each trade.

So, even if you decide to try another broker, you do not need to learn how to use a new platform. As mentioned, MetaTrader is one of the most popular and most advanced platforms in the world. We advise all investors and traders to avoid  Turnkey Forex due to its lack of regulation. Traders should trade with well-regulated brokers such as FP Markets and XM.

How many instruments can I trade with Turnkey Forex?

All financial instruments are fraught with risks and must be understood well before an investor starts trading. This would ensure maximizing the profits and minimizing the losses. Act Trader is another trading platform competing with MetaTrader for the best platform. The trader can be used on desktops (both Windows and Mac) and any mobile device.

Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin. According to research in South Africa, Turnkey Forex is an online forex and cryptocurrency broker established in 2016 and headquartered in London.

🧐 Is TurnkeyForex a Scam?

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 https://www.xcritical.com/blog/turnkey-broker-make-a-profit-for-your-company/ 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.

Additionally, the platform offers negative balance protection, ensuring that traders do not lose more than their initial investment, even in highly volatile market conditions. In terms of order execution, the Turnkey Forex Platform boasts fast and reliable execution speeds. The platform utilizes advanced technology to ensure that trades are executed without delays or rejections. This is especially important for day traders and scalpers who rely on quick order execution to take advantage of short-term market movements. Additionally, the platform offers a variety of order types, including market orders, limit orders, and stop orders, allowing traders to implement various trading strategies.

Turnkey Forex Regulation and Licensing – Is the Broker Legit?

According to Google Trends, here is an overview of how frequently the search term – “Turnkey Forex” is entered into Google’s search engine over a given period of time. Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ. Turnkey Forex has great offerings to earn an income through Introducing broker and White label programs, Refer to the website to sign up. One of the best benchmarks to measure the safety of a broker like Turnkey Forex is to establish which regulating authorities are watchdogs over its actions.

Turnkey Forex offers clients online trading on more than 100 assets via the MetaTrader 4 (MT4) and Trade Station platforms. The 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. Turnkey Forex is an international low commission broker, known for excellent customer service. They offer a wide range of assets to trade, including forex, commodities, indices, and cryptocurrencies, through MetaTrader platforms.

responses to “Turnkey Forex”

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. Based on everything we’ve had a chance to see in https://www.xcritical.com/s, this broker does not have any prohibited areas.