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I was more than thankful to these people and happy that I can continue with trading. I have a situation where from time to time my home internet loses a connection for a second, which was driving me crazy when it happens while I was on the platform and trading. I have contacted their customer service to ask for advice if I could do something about it, and they proposed I switch trades through VPS. Since then, I don’t have any sort of issues with https://www.xcritical.com/ the execution of my deals. With this broker it comes with a monthly cost, but for me, it pays off. The Electronic Communication Network offers the best conditions for trading.
Simple and Straightforward broker
This includes secure socket layer (SSL) encryption and two-factor authentication (2FA) for added security. Turnkey Forex is suspected to be a scam broker as it is an turnkey forex offshore company. TurnKey Forex is a registered trading name of TurnKey Forex Limited and as stated on the website headquarters in Mauritius. I have used different bots that are built differently and work differently and they have given me consistent results. I will suggest the broker for those who like to trade with bots and those who trade manually.
Turnkey Forex Review – Robo Trading
Overall, if you need access to one of the world’s most popular trading platforms and low costs, this may be the broker you need. Turnkey Forex is a well-rounded forex broker best for intermediate and advanced traders. Beginners may find it challenging because of the lack of resources and education. However, those who are willing to use third-party learning resources may still have a satisfying trading experience with this broker. Most if not all the features of Turnkey so far indicate a specialized broker ideal for traders with experience. Robo trading allows you to use an automated trading strategy that can be turned on and off as you wish.
Turnkey Forex Review – Contact and Customer Support
As far as withdrawals are concerned, then those are processed within the same day or in a maximum of 2 working days, depending on the withdrawal mode. 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 customize 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. Disappointingly, I couldn’t find any training resources available from Turnkey Forex. I would have liked to at least have seen some tutorial videos and trading guides as these could benefit beginner traders looking to improve their trading skills and knowledge.
Turnkey Forex Available Instruments
- If that wasn’t enough, Turnkey Forex have kindly provided some standalone tools to further enhance the trading experience.
- However, those who are willing to use third-party learning resources may still have a satisfying trading experience with this broker.
- 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 platform offers 24/7 customer support via live chat, email, and phone.
- I am relatively new trader, so my performance was not quite good and I through that pamm account would be good option to improve my trading profitability.
The ECN account spread starts from 0.0 pips and a commission of $2 per $100,000 is charged for each trade. As with currency exchange markets, commodity markets offer trading in contract-based tradable goods. A No Dealing Desk (NDD) of Turnkey Forex routes all clients’ orders to the liquidity providers with trading servers located in Amsterdam.
Cryptocurrencies and card withdrawal and deposit.
Each account type has its own unique features and trading conditions, allowing traders to choose the one that best suits their needs. The forex market has gained significant popularity in recent years, attracting both seasoned traders and beginners alike. With its potential for high returns and the ability to trade 24/7, forex trading has become a lucrative investment opportunity.
Good Brokerage Service for Entrepreneurs that want to partner with a brokerage service.
As we mentioned before, there are some commissions that are based on the base currency of the account as well as the lot size being traded. Clients will have to pay fees starting from $2 per $100k for VIP and ECN accounts, $8 per $100k for MICRO accounts while the STP and SWAP free account is fee-free. Turnkey Forex allows a minimum trade size of 0.01 lots and a maximum of 100 lots. The broker also states on their website that although there is no limit to the number of orders a client can place, they should not exceed the maximum allowed volume at any time.
This way I can compare performance and trading conditions on multiple brokers simultaneously. An interesting account option that Turnkey Forex offers is the Micro Account. You can set up this account with $5 only, which is quite unique in itself. While requiring very little money to start up, the Micro account offers basically the same trading conditions as the STP accounts, apart from some minor differences.
Turnkey Forex vs Trading.com vs TradeMax – A Comparison Table
I have not noticed anything that seems fraudulent since I started here. For indices, there are opportunities across major and niche indices. 1 lot equals 1 contract, and swaps may be adjusted based on different market conditions, and are applicable to all open positions.
Launched back in 2016, Turnkey Forex has its headquarters in Mauritius. They provide all types of traders with CFD instruments for manual and automated trading on the popular MetaTrader platforms. I like how the broker has no sales culture and believe in the mantra; ‘Customer is king’. This is backed up by a responsive support team that is available 24/7.
They have a Micro account for beginners, a Standard account for regular traders, and an Islamic account for those who follow Shariah principles. This flexibility allows traders to choose the account type that suits their trading style and preferences. All the costs and features of the two trading accounts are discussed in the next section below. I’m glad I switch to turnkeyforex, with their stp accounts, commissions are one less thing to worry about.
The Turnkey Forex Platform also offers several risk management features to help traders protect their capital. 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. This feature helps minimize potential losses and protects traders from significant drawdowns. Additionally, the platform offers negative balance protection, ensuring that traders do not lose more than their initial investment, even in highly volatile market conditions.
Turnkey forex reviews are invaluable resources for beginners looking to enter the forex market. They provide unbiased and comprehensive information about forex brokers and trading platforms, helping beginners make informed decisions. One of the standout features of the Turnkey Forex Platform is its wide range of trading instruments. The platform offers access to a variety of currency pairs, including major, minor, and exotic pairs. Additionally, traders can also trade commodities, indices, and cryptocurrencies. This extensive range of trading instruments allows traders to diversify their portfolios and take advantage of various market opportunities.
However, with the abundance of forex brokers and trading platforms available, it can be overwhelming for beginners to choose the right one. In this guide, we will explore the importance of turnkey forex reviews for beginners and how they can help in making informed trading decisions. Turnkey Forex offers clients online trading on more than 100 assets via the MetaTrader 4 (MT4) and Trade Station platforms.
When it comes to spreads, Turnkey Forex offers both fixed and variable spreads. Fixed spreads ensure consistency in trading costs, while variable spreads can be lower during times of high market liquidity. The spread options offered by Turnkey Forex are competitive compared to other brokers in the industry.
His experience as a senior analyst and market knowledge (including day trading) fuel his insightful work on cryptocurrency and forex markets, published in respected outlets like ForexCrunch. Turnkey Forex offers trading at a minimum cost of $10 on their ECN and STP accounts, a demo account and swap-free option are offered to traders. According to Turnkey’s website, they are “married to customer service” and from our experience, we can safely say that Turnkey’s customer service is stellar. Our questions were answered within seconds through live chat, and the support agent we spoke to was very well educated and insightful. This broker ensures that you will get the support you need 24/7, 365 days a year.
Some of the points that I would note are low costs on ecn account which range as low as $2 for traded round mini lot, possibility for margin trade and allowed hedging. Overall, trading costs are indeed low here, which is good since I have larger number of trades. Turnkey Forex is one of the best Forex trading platforms with superior trading technology, fast execution and good customer support. 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 a 100 % deposit bonus by just sending an email to their support team. Arslan Butt, a financial expert with an MBA in Behavioral Finance, leads commodities and indices analysis.
This broker was recommended to me by a friend who is also a forex trader, as I had so many issues with requotes with my previous broker. For now I think that it was a good decision, since for the last three months I didnt experienced any requotes neither slippages. As for spreads, they are even lower from ones that I previously had, so even in this way I have managed to increase profitability of my trades.