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

4.209 · 42 REVIEWS
Updated: Oct 19, 2021 · 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, 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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4.209 · 42 REVIEWS
Forex Peace Army
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Traders Reviews

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.
 
Poland, Poland,
Aug 4, 2021,
Registered user

crypto deposit and withdrawal

Service use: Live

Length of use: 0-3 Months

The broker accepts cryptocurrency as a mode of withdrawal and deposit. Using this means there is no need for account verification, especially to deposit money. Withdrawals are generally fast, and also I find it easy to deposit cryptocurrency because I have a lot of money invested in cryptocurrency. The live chat and support are active for five days a week and for 24 hours. The trading condition is optimal; I trade assets like AUDCHF and EURUSD. Trading these pairs has been profitable so far; I trade them mainly, and I don't trade other pairs. I am happy I am trading these pairs because they have given me a good turnaround in my trading career. The MT5 had different timeframes that could be used when trading forex.
 
Anita M.,
Varazdin, Croatia,
Aug 3, 2021,
Guest

VPS and trade speed

Service use: Live

Length of use: 6-12 Months

I subscribed to the platinum VPS package, it is fast. It provides 5 gig RAM and 4 VCPU. From my research, I discovered that it is connected to the linux servers. The broker partners with a third party company to provide the VPS. I really saw the difference in trades when I started to use it.

It’s a bit better than standard MT5 hosting, the order opens a bit faster. But it also depends of which style of trading you have.
 
Suceava, Romania,
Jul 17, 2021,
Registered user

My new broker

Service use: Live

Length of use: 0-3 Months

I decided to switch to Turnkeyfx a few months ago. Although I like the fact that I get fast withdrawals to my binance wallet, nice ECN account, good broker.
 
Steven,
Belgrade, Serbia,
Jul 13, 2021,
Guest

Types of account offered

Service use: Live

Length of use: 0-3 Months

I have used the ECN and the STP accounts and these are the things I have noticed from the types of accounts. The ECN account does not have so much difference from the STP account. The obvious difference is that in the STP account, the broker does not charge commissions on trades while there is a little commission charged in the ECN account. I still use the ECN account because it offers 0.0 pip spread.
 
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.
 
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.
 
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!
 
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.
 
Maryland, USA,
Jul 17, 2020,
Registered user

Do not fund with this broker. They are a SCAM

Service use: Live

Length of use: 0-3 Months

Turnkey used to be a great place to trade. Recently in June I funded an account with $500. I ran that account and a second account up $40k plus in total equity. I requested 4 withdrawals for a total of $24,000. Those withdrawals took more then a week to receive (keep in mind they quote you 48 hours for processing) and on top of them being late, all of them were short. They never sent the full amount, each withdrawal was short between $70 and $400. The last $16k I put in for withdrawal on Monday 7/6/2020. From 7/8/2020 I requested to know when they will process my requests. They (Barry, Anthony, Support Team) told me, every day ( sometimes twice a day) they have escalated my issue to be processed by the end of they day. Every single day 1 to 2 times a day I would inquire about my withdrawal issue. Almost two weeks later I am still without my withdrawal. I also have fellow traders who are also waiting on withdrawals that are one week to two weeks late. I have screen shots of everything from my deposits, to the bullpoop lies they tell me about being processed, I have everything documented. I didn't want to go anywhere and leave a bad review, but since they are scamming traders (or until I get my money), I need to help those who are looking for a good offshore broker to not go to Turnkey Forex. If they pay I will UPDATE this post only if they stop lying on their website.
  6 traders have found this review helpful
Dikshant G.,
Haryana, India,
May 28, 2020,
Guest

Good Broker

Service use: Live

Length of use: 6-12 Months

I've completed total of 8 mons today with turnkey and can confidently say they are a good choice for scalping. Good trading conditions mended with low pricing say it all. After making fair share of returns, I tested few withdrawals and received on time, better than previous broker experience. Kudos to team
 
Texas, USA,
Jan 31, 2020,
Registered user

Service use: Live

Length of use: over 1 Year

I've traded with Turnkey for 1 year. Spreads and commissions are about the lowest of any broker I tested. Their ECN execution has always been fast.

I echo some other reviewers on the slowness of support responses. But I find their Live Chat extremely handy and friendly, when they're on. My Bitcoin withdrawal took 4 business days (instead of their advised "2"), but it came through perfectly.
 
California, USA,
Jan 9, 2020,
Registered user

Needs Improvement

Service use: Live

Length of use: over 1 Year

Pro's
- Accepts US customers
- Low commissions and spreads compared to other unregulated brokers
- Triple swap occurs on Friday, not Wednesday (great if you don't hold positions over the weekend)
- Barry is a good account manager
- Stable coin options for deposits / withdrawals are offered (great to avoid fluctuations and uncertainty of other crypto)

Con's
- Unregulated
- The back office portal is the worst I've experienced from any broker:
very slow to respond
support ticket submission currently doesn't work (have to send email)
withdrawal request currently doesn't work (have to send email)
instant transfer between accounts is not offered (have to send email)
- It typically takes 1-2 days to receive a response to support, withdrawal, and transfer email requests.
- Night spreads can get high (not good for night scalping)
- Every night when rollover occurs, the tick data and trading stops for 5 minutes (problem for night scalping)
- They don't give you a record of withdrawal details showing crypto coin quantity and price at time of the withdrawal transaction, so there's no way to audit the withdrawal transaction to make sure they are not holding a little bit of coin for themselves with each withdrawal

Dec 29, 2018 - 4 Stars I've been trading with Turnkey for 1+ year and overall I find them to be much better than most other brokers accepting US traders. Trading conditions are very good, customer service has been excellent, and deposits and withdrawals have gone smoothly for so far. Commissions are the lowest available, and triple swaps are charged Friday night instead of Wednesday night which works if you don't keep positions open over the weekend. I don't like the fact that there is nightly 5 minute trading freeze at rollover time and also there are some minor things about the customer portal I don't like. My deposits and withdrawals are not nearly as large as @rhukevhe, so perhaps that explains why I have not run into similar challenges. I'll be monitoring things closely and will update my review if my experience changes.
 
-,
-, USA,
Sep 19, 2019,
Guest

Market maniupulation

Service use: Live

Length of use: over 1 Year

Twice price was never near my stop loss and they closed the trade, my trade hit tp it went under my target and it did not close, funny how the drop only happened in their platform which should tell you something. Extremely disappointed they don't honor anything, at the beginning they were great now just terrible. Currently looking for a new broker.
  1 trader has found this review helpful
Elijah,
Chicago, USA,
Jun 15, 2019,
Guest

so far so good!

Service use: Live

Length of use: 6-12 Months

Great spreads, and super low commissions make this a great place to trade! The swaps are below average, but the spreads are very tight and the commissions are very low!

This is a great broker because they don't block you from placing pending orders right near (market) price (like many other brokers). They credit you all fees for deposits made in BTC with a $200 minimum deposit to get fee credit.

Trade executions are fast, deposits are fast via BTC, even over the weekend. And the greatest thing about this broker is the withdrawals are super fast in BTC, which allows me to eliminate the bankers and their overpriced fees!
 
Perter,
Norwood, Australia,
Jun 14, 2019,
Guest

good broker have been with them for more than 2 years

Service use: Live

Length of use: over 1 Year

Have been with the broker long enough to confidently say they are fair & never had issues big enough that i switch over to another broker

execution has been consistently good
minimal slippage
commission low
chat support always manages to help you when needed
spreads are the best that i've traded on, they just get sluggish when around midnight

but overall no complains
 
United States, USA,
Apr 23, 2019,
Registered user

UNREGULATED SCAM BROKER! STAY AWAY

I had an earlier case against scam broker Turnkey Forex.
https://www.forexpeacearmy.com/community/threads/resolved-scammed-by-turnkey-forex.57929/

This scam broker still owes me $100k in profits and have no intention of paying. During one of my several calls to their upper management, they pretty much admitted to me that they are running a scam. They are run by an organized crime family with links to other scam brokers like finpro. They are not even a bucket shop, they are far worse. My case has been referred to the FBI and other law enforcement agencies both in the US and UK. My mission now is to have them shut down for good as they have no intention of stopping and intend to continue stealing from hard working people. I was shocked by the blatant disrespect and contempt when i heard the man in charge cheekily admit to me on the phone that my suspicions about them were true. It's time the FPA community banish this scam broker into the wilderness where it belongs.

Details are here.
https://www.forexpeacearmy.com/community/threads/scammed-by-turnkey-forex-part-2.59965/

Nov 5, 2018 - 1 Star WARNING!! SCAM BROKER WILL NOT PROCESS MY WITHDRAWAL!! WILL HAPPEN TO YOU IF YOU MAKE HUGE PROFITS!! STAY AWAY!!

I am here to warn others to stay away from Turnkey Forex. They are a SCAM broker. Are not regulated by any governing body and you will be put through hell to get a withdrawal. They currently have a ton of my money they are refusing to process for withdrawal. They are asking for some ridiculous documents that they never asked for when i was opening and funding my account. Some of these insane requests include 'A letter from your employer confirming that you are not prohibited to carry out trading activity in forex trading,' which is laughable if it wasn't so infuriating. They are asking for things that even regulated companies won't ask for. We are all too familiar with these tactics by scam companies to steal from their clients. If a legitimate company asks for a document to open an account, those same documents are good enough to withdraw your funds, but not with these crooks. They gladly took my money but are now putting a wall for me to get it back. Before i start going through all legal routes if necessary, i'm here to warn others and hold this scam broker accountable by warning people about them and bringing them to justice in the forex community.

More. Community discussion of this issue >>

  4 traders have found this review helpful

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