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Traders should trade with well-regulated brokers such as FP Markets and XM. Turnkey Forex is one of the few forex brokers that provide access to Act Trader, apart from Coinexx, a broker with a relatively poor reputation and mostly known for crypto trading. Mainstream brokers like AvaTrade or Oanda have not introduced Act Trader just yet, and they also come with higher costs for traders as they are market makers.

A review by the Commission has revealed that this entity is acting in a capacity that appears to require registration, but it is not registered with the CFTC. Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies and financial institutions exchange currencies for one another at floating rates. Mauritius is an easy jurisdiction to open a brokerage, as opening requires an initial establish the capital of only $2,000, making it a popular offshore zone for shady brokers. Swap Charges are when you keep a position open overnight or a rollover interest which is either earned or paid in forex. Swap is the interest rate differential between the two currency pairs you trade and is calculated depending on your position- Short or Long.

Turnkey Forex regulation

This broker includes support for a variety of asset classes including currency pairs, commodities, indices, and cryptocurrencies. Turnkey Forex includes VPS hosting, robo trading, and trading calculators as well as access to MT4, MT5, and Act Trader. Learn everything you need to know about this forex broker by reading our complete Turnkey Forex review.

Is Turnkey Forex a safe forex broker?

I see turnkey as the broker to trust for such long term trades and since when I have started too, I have not tried to change my decision and this is simply because of the type of services I am getting here. I don’t think the broker is the most perfect broker in the world but I know they are good enough for me to trust them. Deposit and withdrawal are also fast, so far, I have not had issues with making deposit or withdrawal on this platform. I don’t think the broker accepts debit cards, which might be a little stressful for those that do not have cryptocurrencies or VLoad account. It is common for brokers that accept cryptocurrencies to have fast withdrawals and Turnkey has also not disappointed with that.

If you are unsure if this is the broker for you, you can also opt for a free demo account. You can test all of its features using real market prices while risking only virtual funds. The main difference between these accounts is that the STP account charges you only the spread (with built-in commissions), while the ECN account comes with lower spreads and a small commission.

Turnkey Forex Review 2022: Scam Or Safe? Pros & Cons | Detailed Overview

Of all the brokers I’ve used, this has never happened to me where when trying to register I am taken to a different brokers register link. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located. No, it is currently not effectively regulated and you are advised to be aware of its potential risks. We have not received any reports of fraudulent activity at this time.

  • It is typically a form of short-term protection when a trader is concerned about news or an event triggering volatility in currency markets.
  • It is good to see they are active online and have even left feedback on numerous reviews, both positive and negative.
  • We aim to help you find the best broker according to your own needs.
  • Turnkey Forex includes VPS hosting, robo trading, and trading calculators as well as access to MT4, MT5, and Act Trader.

With the Commission Free STP account, you can experience reliable trade execution speeds and low spreads. The STP account is exactly the same as the ECN account, with the only difference being that in STP account, the commission charges are included within the spread. There is no other commission/charge and no difference in any other trading condition. I think this account could be considered for anyone trading mid to long term who is not too concerned about the spread and would rather not pay a commission. We continuously strive to provide our clients with the best trading experience by coming up with lucrative offers including the currently running Zero Commissions offer.

Turnkey Forex Account Types

Both accounts are exactly same, the only difference being that in STP account, the commission charges are included in the spread, while in the ECN account, there are raw spreads and a very low commission. The minimum trade size is 0.01 lots while the maximum is 100 lots. I especially like how the spreads start from as tight as 0.0 pips and the commission fees are also very low. Almost to the point it makes me wonder how the broker is making a profit.

Turnkey Forex regulation

While Turnkey Forex comes with excellent trading conditions, education and research to help beginners and advanced traders alike are completely missing. Perhaps, the broker may benefit from introducing guides on how to trade the market and how to use a trading platform. There is only a FAQ section that addresses a few key matters, such as how to open a corporate or individual account, leverage, and margin requirements. This broker offers access to several asset classes, including currency pairs and commodities, indices, and cryptocurrencies. These are available via one of the three platforms detailed below. Crypto- and Multi-asset brokers must buy MetaTrader5 Trading platform as it is not possible to denominate trading accounts in cryptocurrencies in MetaTrader4 due to currency digit limitation.

Turnkey Forex regulation

Although the Forex market is highly saturated and extremely competitive, the trading volumes amount to trillions of dollars, and there is always a place for a new player. I am trading for the long run, I don’t want to be staring at my charts all night, I want to get in and get out and let my money work for me. Turnkey Forex is a registered trading name of TurnKey Forex turnkey solution providers Limited launched in 2016 and has its headquarters in Mauritius. Turnkey Forex affirms that it uses Secure Socket Layer encryption technology to protect information submitted to it by the clients. I like this technology as it prevents interception by hackers during the transmission over the internet. Firewalls have also been deployed to further protect the systems.


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