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

4.025 · 50 REVIEWS
Updated: Jan 18, 2022 · Visit site  · 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.

TurnkeyForex.com

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:
Regulators:
Prohibited countries: Unknown
Trading platforms: MT4, MT5, ActivTrader
Web Trading: Yes
Mobile Trading: Yes
Currencies: (85+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (20+) Gold, Silver, Other Precious Metals, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
Scalping: Yes
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

Live discussion

Join live discussion of TurnkeyForex.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

4.025 · 50 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Traders Reviews

SL,
Singapore, Singapore,
Jan 12, 2022,
Guest

Unfortunate event

Service use: Live

Length of use: 6-12 Months

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
 
AK,
Berlin, Germany,
Nov 17, 2021,
Guest

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

recommend

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,
Guest

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 15, 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
 
Alexander Red,
Brescia, Italy,
Sep 14, 2021,
Guest

Scalping strategy

Service use: Live

Length of use: 0-3 Months

Scalping the news here is less complicated because the difference between the ask and bid price is usually slim. The spreads do not get too wide and making meaningful profit within few pips is a possibility
Pros: I scalp the news and day trade
Cons: the MT4 does not allow crypto base accounts only the MT5 does.
 
Sarajevo, Bosnia and Herzegovina,
Sep 9, 2021,
Registered user

Crypto for many uses

Service use: Live

Length of use: 3-6 Months

The broker employs cryptocurrencies in many of its activities. It provides cryptocurrency CFD services which means that the underlying asset cannot be kept or stored. It also accepts cryptocurrencies for deposit and withdrawal purposes and one thing is that they could be used as base currency for a trading account in the place of the popular USD or EUR. Withdrawal using cryptocurrencies just like that of the mastercard and electronic wallet are also granted only a few hours after request is made.
 
Nebraska, USA,
Aug 19, 2021,
Registered user

Base Accounts

Service use: Live

Length of use: over 1 Year

It's not like the monotonous brokers that offer just USD and EUR base accounts. One can also use some cryptocurrencies as account base currency. I have been using ETH base currency account and I have not had issues with my account or the account balance. Now that cryptocurrency prices have reduced I am being careful too.
 
Lund, Sweden,
Jul 11, 2021,
Registered user

Use my robot here

Service use: Live

Length of use: 0-3 Months

I've just bought a robot in MT5 platform and use it here. The environment is stable for such. Recommend
 
MD, USA,
Jun 24, 2021,
Registered user

Crypto Broker

Service use: Live

Length of use: 3-6 Months

Cryptocurrency withdrawal is fast. I use it as my base currency and also with draw with it. Trading cryptocurrencies with Turnkeyforex has been without issues. It would be nice if the broker adds to the crypto instruments.

I turned to using robots a while ago and it has given me consistent trading results, just like when I was trading manually.
 
Laval, France,
Jun 10, 2021,
Registered user

EA account

Service use: Live

Length of use: 3-6 Months

Someone trades for me for an agreed profit - just bought the EA. I also trade myself but it is with very little capital because I am not so good yet. My trades are not so balanced yet and I get scared many times, so because of this I resort to scalping the market many times and this is even easier because the spreads are zero spreads and the leverage is quite high, up to 1:500.
 
London, United Kingdom,
May 20, 2021,
Registered user

Traders can control PAMM accounts

Service use: Live

Length of use: over 1 Year

Turnkey offers both the ECN and STP accounts with forex, commodities, indices and cryptocurrencies. I like that the broker has good services plus high and flexible leverage of up to 500:1. I have been trading here for some years now, and I am consistently profitable. Now I trade for people to make profit. When I had my first set of clients, they needed me to trade for them and wanted a very safe environment where all the parties involved would watch the trades, but I didn't know what to do. It only came to my mind to contact customer support to make inquiries, and it was the customer support that told me about the PAMM program. I was told that I could be the PAMM trader and the broker would join my clients' accounts to mine; that seemed to be the idea I was looking for; the other parties also agreed to it, and we opened one. I was told that I had to have at least three other accounts joined with mine and the cumulative money cannot be less than $5000. We also agreed on how the profit would be, and the investors gave the broker the consent of delegating the right of trading theaccounts to me. So, from there, all my trades were allocated to their account too, and anytime they withdraw money, the broker assigns my portion from the agreement to me. This is our 6th month of doing and it has been smooth.
  1 trader has found this review helpful
London, United Kingdom,
May 16, 2021,
Registered user

good trading condition

Service use: Live

Length of use: over 1 Year

Forex has changed my life. I had always dreamed of working from home. I tried some other skills before I was finally introduced to forex. I have had my share of losses which eventually affected my psychology. I finally met a big brother who made me see some of the mistakes I have been making . I'm glad I met him. Trading started going well since then. The only problem I had was withdrawal charges. I trade for people and their withdrawal charge didn't make me get the full profits. Sometimes they reduce my profit up to 3%. Imagine I am withdrawing 9% of my profit and 3% is gone all because of the withdrawal charge. I was introduced to a broker who does not charge any withdrawal fee but their trading services were bad and I was eventually scammed. A friend finally introduced me to Turnkey and I discovered their withdrawal charge is relatively free asides the good trading condition . I have been using the broker for over two years now and their trading services are also cool. I also like the fact that Turnkey offers transparent brokerage services.
  1 trader has found this review helpful
Paris, France,
May 12, 2021,
Registered user

Tight spread and easy scalping

Service use: Live

Length of use: 6-12 Months

EURUSD, EURJPY, USDCAD, GBPJPY, and other currency pairs are all zero pips. Scalping has been made so easy in Turnkey because of the tight spreads. Scalping was not my strategy before I started to trade here, but the zero spread tempted me to start scalping. I still take long trades but not so often; It has been good here for me. Compared to my former broker, the Turnkey demo account has the live chart value, and I use it to test new strategies before trying them out on the live account. I don't have an issue with the broker yet.
 
Melbourne, Australia,
Jan 18, 2021,
Registered user

Awesome experience..!

Service use: Live

Length of use: over 1 Year

Hey guys!
I have been trading for more than 8 years now. Initially, I was trading part-time so I was fine
with my earlier broker, but when I shifted to being a full-time trader, I started facing serious
troubles with them. I had several trade issues & so frequently and they literally took forever to
get back to me. They even took it on my withdrawals and trust me, it bites so bad, to not be able
to get your own money. So, I had to switch my broker. After a lot of research and consultation
with my fellow traders, I took a step ahead with ‘Turnkey Forex’.With my 2 years of experience
with them, I can say that despite being an unregulated broker, their services have been better
than some of the regulated brokers as well. I extremely contend with their deposit and
withdrawal procedure. My deposits never take more than 20 minutes to reflect on my account.
Even my withdrawals are always sorted within 10 hours and this is their best aspect. They have
cancelled my withdrawal just once, in the last 2 years and that also counts back to a valid
reason, which makes me more secure about my funds. But they should consider giving us more
than 100 % bonus some times like their other counterparts, it could give a much-required boost
to our trading. If other brokers can do it, so should you guys work on it as well.
And, I am not satisfied with just Cryptos being the solo mode of payment, other forms of
payment should also be added to the options. It could be really convenient for every one of us to
trade with them. Their chat support mentioned that they will soon be introducing the direct
method of payments, but as of now, it is only Cryptos. One thing that I am amazed to see is that
they do not have much social media presence and whenever I recommend them to anyone, my
colleague comes back to me saying that this broker is not very popular. I can also see that they
have not replied to any of the reviews here on FPA too. Guys, this is time for social media.
While you are good at what you do, you need to up your game on social media too.
As of now, I am satisfied with their services but the things mentioned above need to be looked
into for better future prospects.
Otherwise, you all are doing a great job. Keep it going!
  1 trader has found this review helpful
Dubai, United Arab Emirates,
Dec 29, 2020,
Registered user

The Best Forex Services

Service use: Live

Length of use: over 1 Year

I am a full-time trader from last 2 years and I joined Turnkey forex this March with my Friend’s referral link. Initially, I was sceptical about going with an unregulated one, so I started with just $150 and my deposit reflected in my account within 10 minutes of its initiation, that was surprisingly fast. They literally have the tightest spreads in the market and have no reluctance with any trading strategy that I adopt. I also like their commission structure. For my STP account, they do not charge me anything and for the ECN account, they have a commission structure of just $2/ standard lot (Round trip) for forex, which works well for me. And, I can also trade Cryptocurrency at my MT4, this is like icing on the cake because I just have the hang on my MT4, and MT5 is little off limit for me. Now I focus on my MT4 and can trade everything here comfortably, but currently, they just have 5 crypto options, which needs to be increased as soon as possible because it is narrowing my trading options, and this is a great time to trade in cryptos. With the withdrawals, I am personally satisfied. My first withdrawal was executed within 6 hours. It was such a relief to get my hard-earned money back safely. Since that time, I shifted all my funds to this broker. Although one time they took 14 hours to execute my withdrawal, it just happened once and never again. I have had a great trading experience here but I feel that the website lacks complete information on certain aspects like ‘ Act Trader’ and MT5 platform, the information is not that explanatory, the team needs to fix this soon.
However, Turnkey is acing their game with the customer support, ‘Sara’ is my account manager, who is just an email away and often enquires if I face any trouble with the platform. It is quite convenient to reach them in case of any trade issue at the chat portal as well, the team is quick and knowledgeable. Overall, my experience has been quite satisfactory and I am looking forward to being an Introducing broker with them now, after all, who minds some extra income, LOL.
 
Hong Kong, Hong Kong,
Dec 16, 2020,
Registered user

A Trustworthy Offshore Broker

Service use: Live

Length of use: over 1 Year

I opened an account with Turnkey Forex about a year back after burning my hands with an offshore broker. I was initially reluctant to try out another offshore broker, but after reading their reviews, I decided to give them a try. Here is what I think:-

Pros:
1. Deposits are fast. It takes just 10 minutes for my deposit to reflect in my trading account.
2. Spreads are tightest of what I have seen.
3. Commission is super low- only $2/lot RT
3. Excellent customer service. I have a dedicated Account Manager, and the chat support is quite knowledgeable and responsive as well.
4. They have Cryptocurrencies for trading and have also added Act Trader recently.
5. The withdrawals are super fast. I always get my money within 1-4 hours time.

Cons:
1. 1. I do not like their website. Too many spelling mistakes which initially made me doubt if they are even genuine. Also, they have stocks and ETFs mentioned on their website which I couldn’t see on the trading platform. When checked with the chat agent, I was told that they are in the process of Upgradation.
2. As of now, they are only accepting deposits in the form of Cryptocurrencies. I have been told by my Account Manager that they will be introducing InstaCoins and VLoad very soon. I am waiting for that.

I am glad that I gave Turnkeyforex a try. They are the only reason why I have not lost all my faith in offshore brokerage.
 

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