Fresh TurnkeyForex.com review that helps Forex Peace Army traders invest safely

4.092 · 50 REVIEWS
Updated: Jan 27, 2022 · TurnkeyForex.com  · Is this your company?

TurnkeyForex is a forex broker. Turnkey Forex offers the MetaTrader 4 forex trading top platform. TurnkeyForex.com offers over 80 forex currency pairs, indices, commodities, cryptocurrencies, gold and silver for your personal investment and trading options. Please read Turnkey Forex Reviews below and share your live trading experiences with this broker.

Turnkey Forex

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum Deposit: $10
Established: 2016
Address: 5th Floor, Ebene Views 66C2 Ebene Quatre Bornes, 72202, Mauritius
Customer Service: CONTACTUS@TURNKEYFOREX.COM, +442032876032
Regional offices:
Regulations:
Prohibited countries: Unknown
Trading platforms: MT4, MT5, ActivTrader
WebTrader: ✅ Yes
Mobile Trading: ✅ Yes

Trading Instruments

Currencies: (85+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (20+) Gold, Silver, Other Precious Metals, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

MAM: ✅ Yes
PAMM: ✅ Yes
CopyTrading: ✅ Yes
Deposit Methods: Bank Wire (Bank Transfer), VISA, MasterCard, Bitcoin, Ether/Ethereum, Litecoin, Neteller, Ripple, Skrill, SWIFT, Tether
Withdrawal Methods: VISA, MasterCard, Bitcoin, Ether/Ethereum, Litecoin, Local Bank Transfers, Neteller, Skrill

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4.092 · 50 REVIEWS
Forex Peace Army
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Traders Reviews

Happy,
Hurst, USA,
Jan 24, 2022,
Guest

Good broker for scalping

Service use: Live

Length of use: 3-6 Months

I find that this broker offers good conditions for scalping. I am trading here for last two months. Costs of trading are minimal. I have an STP account, where there are no trading fees, only quite small spreads on eurusd it goes from less than 1 pip. For my trading style it is a huge benefit, because I have minimal impact of trading costs on my profitability. I trade on MT5 platform, and up to now I didnt experienced any sort of interruptions on platform. What I also find good here is that this broker supports hedging. So, SL and TP can be placed within quite
 
SL,
Singapore, Singapore,
Jan 24, 2022,
Guest

Update to "Unfortunate Event" post

Service use: Live

Length of use: 6-12 Months

Since I’ve posted my review on 12Jan2022, after several email communications from 05Jan2022 onwards, Turnkey has responded via email that they will return the funds to my Turnkey account on 18Jan2022. I have since received the funds (exact amount on 18Jan2022), made a withdrawal request, and have received the funds (exact amount) back into my bank account (21Jan2022). Overall, it was a peculiar event, as I’ve not encountered such happenings before.

Jan 12, 2022 - 1 Star I have used Turnkey Forex since April 2021 and had a first full withdrawal in August 2021, due to personal reasons. The trades during my first deposit with Turnkey has been a good experience, though the bank wire deposit and withdrawal took a long time (~3 weeks) but it was manageable, as it was notified by customer support and I was mentally prepared for it.

Having a rather good impression on the trading experience, I've decided to continue with Turnkey in November 2021 with a 2nd deposit. When I've made my deposit and was informed there could be delayed deposit via bank wire, I was prepared to wait, and after 2 weeks (end of Nov'21), my account was deposited with my transferred funds and I was notified by customer support via email. Unfortunately, after 1 month (on 23Dec2021), the balance in my Turnkey account was zeroed, and upon checking my account statement (there isn't daily statements sent), I saw the deposit was reversed with no notification from Turnkey Forex to indicate the events leading to it or causing it to happen.

I've contacted Live Chat on 05Jan2022, and was told that customer support would contact me soon. I didn't get a response immediately (waited for more than half a day), so I sent an email to support team on 05Jan2022 at night, asking whether this is due to a system glitch. Turnkey first responded on 06Jan2022, saying "funds sent via bank wire were credited to your trading account temporarily. As checked, we still haven't received them. Therefore, the transaction has been reversed. I request you to get in touch with your bank once for the same." I couldn't believe this, as I've not encountered such an event during my trading years, and so I asked Turnkey to check carefully. So after another round of back and forth emails, I did check with my bank, and was informed that it was a same bank transfer (within Singapore, same bank that I used to do the bank wire), and it was completed successfully immediately.

So, this got me thinking. On 30Nov2021, Turnkey confirmed to receive the deposit into my Turnkey account. There's a delayed 15 days after bank wire until the balance showing up in my account, I don't know what's the delay for, but nothing was communicated to me about the bank wire being deposited to my Turnkey Forex account was based on good faith. And it was reversed on 23Dec2021, while my bank account showed clearly an outgoing transaction dated 15Nov2021, and nothing came back after that in December.

From my client portal view, there wasn't a withdrawal for the balance on my account, but for deposit, there was an "approved" deposit dated 29Nov2021. So where did my funds go to? I feel disappointed and unhappy how this turned out, not sure if anyone out there encountered a similar event as me. But for others, to take note this could happen to you too.

I'm still in correspondence with Turnkey customer support, I hope they'd find the answer to my missing funds soon.
 
Villejuif, France,
Dec 23, 2021,
Registered user

Long and short trades

Service use: Live

Length of use: 3-6 Months

So far it seems suitable for short and long term trades. I scalp and also do swing trades when it is necessary. The strategy I use depends on the markets and the opportunities that i see
 
Rome, Italy,
Dec 22, 2021,
Registered user

Fast execution

Service use: Live

Length of use: over 1 Year

My trades execute very fast,t and the execution even became faster when I started to support it with the VPS. Executing many trades at a time comes with no delays
 
LuisGG,
Rota, Spain,
Dec 21, 2021,
Guest

Wide of market

Service use: Live

Length of use: over 1 Year

I get to trade all the major forex pairs and crosses as a single trader. Even if my trades runs for a week, the broker does not tamper with it and does not close me out of my trades. It has advanced trading tools and the news also assists me in knowing the long term directions of the market. All that is need here is knowledge and one is guaranteed to make money because the broker is legit.
 
Dilyana,
Athens, Greece,
Dec 18, 2021,
Guest

Favourable technical tools

Service use: Live

Length of use: over 1 Year

professional technical tools like different types of pending order, professional charting features and more makes trading here worth it. I recommend this broker any day any time
 
Milan, Italy,
Dec 6, 2021,
Registered user

Good broker for trading forex

Service use: Live

Length of use: 3-6 Months

In my opinion this is good broker for trading forex, especially for scalpers, like myself. I am here for few months now, scalping during US time, when volatility is highest. I am using one EA on my MT5 platform, it is working without any issues. All deals were executed up to now. Spreads are very tight here. As I am trading major fiat currencies, I have spreads around 3 pips. However, as US time closes, spreads are even lower, some 2 pips. For me it is also good option that I can transfer my profits to my PayPal account
 
Sofia, Bulgaria,
Nov 27, 2021,
Registered user

friendly for ea

Service use: Live

Length of use: 0-3 Months

I have a few ea for asia session here. Overnight fees are quite low as the spread. It is not costly to trade here and the features available makes it easy for me to make short term trade speculation. Overall recommend
 
Arizona, USA,
Nov 25, 2021,
Registered user

Bad "Market Open" Discipline

Service use: Demo

Length of use: 6-12 Months

They do not seem to take the Market open time (Sunday in my Time Zone) seriously for their Demo Feed.

I have many Forward-Tests running which get destroyed when they decide to turn on the feed several hours later than the market open. Emailing Support for several weeks...no help. Multiple Excuses given. They need to do their maintenance on Saturday and get the feed turned back on well before the market open. Even ICMarkets can manage to do this with their enormous Demo Server Fleet. NO OTHER DEALER TREATS THE MARKET OPEN SO RECKLASSLY.

They have unlimited Demo's which is nice.

They adjust their spreads in their ECN model often and they become wider more than any dealer I have seen. I have over 7 dealers on my computer and four VPS's. Turnkey Forex is the worst when it comes to spread changes. Today it is Thanksgiving day in the USA so liquidity is low. Out of all the dealers that I have Turnkey Forex for most of the day has had 3-4 times the spread..in their so-called ECN account that they charge a commission on. No wonder they are advertising "Zero-Commissions" recently.

I am scared to go live with them. I am holding out to see if there is any improvement. I think everybody deserves a chance.
 
Reply by TurnkeyForex submitted Dec 7, 2021:
Dear Marley,

Thank you for continuing to be a valued customer with Turnkey Forex!

In regards to your concern of demo feed not turning on, please be informed that this has happened on our Demo accounts only on a couple of Monday mornings in the past one year, due to some technical glitch, as part of the maintenance on the server. There has not been any issue whatsoever on our Live accounts. However, we have already fixed this issue and it will not recur in future.

The maintenance on servers is carried on from time to time in order to provide order execution similar to that on a live account for best client experience.

Further, our support team has constantly been in touch with you via email regarding your queries.

Regarding the spreads, TurnkeyForex is known in the industry for providing a combination of low commissions and razor-thin spreads starting from 0.0 pips on pairs like EURUSD on ECN accounts. Being a pure ECN broker, the spreads provided on an ECN account are raw and free from re-quotes.

On our platform, you get trade execution mostly at the prices that you see, unlike most of the other brokers. Even if the spreads are wider at a few occasions including market opening or closing time or news hours, you will see that the order execution happens at the best prices and there is minimal slippage with us.

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.

We request you to try out our live account for a real hands-on experience with our impeccable trading conditions.

For further inquiries, please contact us on Live Chat 24*5 or write to us at contactus@turnkeyforex.com

Regards
Turnkeyforex Team
Sarr1705,
Prague, Czech Republic,
Nov 25, 2021,
Guest

Flexible leverage

Service use: Live

Length of use: 6-12 Months

The broker provides a different range of markets with more than 60 forex pairs and other assets like indices, cryptocurrencies and commodities. The wide range of the market is also coupled with flexible leverage which can be large enough to make me risk as much as I can and can also be low enough to make me lay low when I want to. One can use up to 1:500 leverage
 

Frequently Asked Questions

Is TurnkeyForex regulated?

Turnkey Forex is not regulated with any government or non-government body.

In other words, there is no designated government or non-government body to supervise the activities of TurnkeyForex or to resolve complaints.

What is the minimum deposit for TurnkeyForex?

The minimum amount required to open a trading account in TurnkeyForex varies depending on the account types. It is :

  • $5 for micro Account
  • $100 for Standard STP Account
  • $200 for Pure ECN Account
  • $300 for Zulu Trade Account

Does TurnkeyForex allow Scalping and Hedging?

TurnkeyForex does allows scalping and hedging.

Can I withdraw bonus from my TurnkeyForex account?

In order to withdraw Bonus from your account, you need to make transactions expressed in number of lots in the amount of using the following formula:

  • For currencies and commodities: Number of Lots required = Bonus Amount/2. For instance, if you receive $500 as bonus amount. Then in order to withdraw the bonus availed, the trader needs to trade a volume of: 500/2 = 250 Lots (Closed are taken into consideration)
  • For global indices: Number of Lots required = Bonus Amount/2 * 10