Fresh review that helps Forex Peace Army traders invest safely

3.803 • 41 REVIEWS
Out of business
Updated: Dec 22, 2023
TurnkeyForex is a forex broker. Turnkey Forex offers the MetaTrader 4 forex trading top platform. 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.
TurnkeyForex has merged into Coinexx. now points to

The FPA recommends all clients with questions contact Coinexx support.
Website is down. Company seems to be out of business.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $10
Established: 2016
Address: 5th Floor, Ebene Views 66C2 Ebene Quatre Bornes, 72202, Mauritius
Contact: CONTACTUS@TURNKEYFOREX.COM, +442032876032
Regional offices:
Prohibited countries: Unknown
Trading platforms: MT4, MT5, ActivTrader
Web Trading: ✅ 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
Copy Trading: ✅ Yes
Deposit Methods: Bitcoin, Coinbase, Ether/Ethereum, Instacoins, Litecoin, Neteller, Ripple (XRP), Tether (USDT), VLoad
Withdrawal Methods: Bitcoin, Coinbase, Ether/Ethereum, Instacoins, Litecoin, VLoad
* Please check broker website for more information
3.803 • 41 REVIEWS

Recent User Reviews of Turnkey Forex

Amsterdam, Netherlands,
Dec 20, 2022,
Registered user

They scam you once you start making big profits

Service use: Live Length of use: 6-12 Months
A year or two ago i found that the chart for NAS100 was lagging at different times during the day, sometimes for a halfhour straight and the lag was up to 5 second compared to a more regulated broker, was looking at oanda at the time.
I had 100€ in my account and turned it into 10k in a week and requested a first withdrawal. After this my orders had massive slippage and there was a big commission charged where before there was none.
I got the money out in BTC after a couple months of starting chats on the site and they always gave me some bull, wait 48hrs and so on. Eventually i threatened to expose them on online forums and that must have convinced them to send the money.
They would also rip you off on the btc amount you receive because of the volatility of crypto and the waiting time of the withdrawal.
So if BTC went down in price since you requested the withdrawal you would get the same amount as of the moment of your request, so worth less fiat. If BTC went up however they would send a lesser amount of BTC
California, USA,
Nov 2, 2022,
Registered user

Registering for an account takes me to

Service use: Other Length of use: Have not used
Why does the "register" link take me to the register link? Is this broker just a fake broker disguised as 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.
1 trader has found this review helpful
Cologne, Germany,
Sep 5, 2022,

Nice Broker that offers Effecient Price Aggregation

Service use: Live Length of use: 3-6 Months
As oppossed to most newbie forex traders I have done my research "up to the last page of the rule book". Spreads affect a traders profitability profile in the long run. I chose Turnkey FX as my broker because they offer extremely low spreads in comparison to other brokers.

I have been trading on a live account with this broker for 1 year now, specializing in EURUSD and XAUUSD [correlation]. It would be unfair for me to not mention AGAIN that this broker offers extremely tight spreads relative to other brokers I have researched and back-tested. 

I recommend Turnkey FX to traders that want to benefit from tight spreads
Florida, USA,
Aug 7, 2022,
Registered user

Most trusted support broker

Service use: Live Length of use: over 1 Year
There is only a handful of off-shore FX brokers who allow trading with residents of USA.
In my opinion this is one of the best and reliable FX brokers I have ever had a pleasure to trade with. In addition they have very knowledgeable support staff with immediate response to any requested support issue.
Completely satisfied with this great company.
Singapore, Singapore,
Jan 24, 2022,

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.
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 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 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.
1 trader has found this review helpful
Reply by TurnkeyForex submitted Dec 6, 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

Turnkeyforex Team
Berlin, Germany,
Nov 17, 2021,

Good Broker

Service use: Live Length of use: 3-6 Months
I've never had here problems with order execution and I've chosen it because of tight spreads, tested withdrawal to crypto wallet and got funds during a day, it seems about 4 or 6 hours but it was business day. but after NFP I've lost almost everything, fellows, be careful with nfp! I will continue trading with turnkey next month ..
livorno, Italy,
Nov 16, 2021,
Registered user


Service use: Live Length of use: 3-6 Months
true ecn, with vps it's much better, trading here news and also i have here some ea, mt4 works without delays, it's possible to use crypto for withdrawal. no problems for now
Alin Muresan
Zalau, Romania,
Oct 25, 2021,

Same day withdrawal

Service use: Live Length of use: over 1 Year
The withdrawal has been on the same day so far. No delays. I use btc wallet on crypto exchange. There are brokers that don't accept binance, here there aren't problems.

Order execution without problems, but during asian session there are requotes.
Bacau, Romania,
Oct 14, 2021,
Registered user

Analytical tools

Service use: Live Length of use: over 1 Year
There are many analytical tools here that many serious traders will be able to use. If you know how to trade you will be able to make money here. I am not making money yet even though I have been trading the live and demo account but my friend who knows how to trade better makes money. I will join the money makers’ league soon. By the way, the demo account has been useful in my training so far. I am glad it is always available for use

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