TurnkeyForex.com Review

3.621 · 25 REVIEWS
Updated: Oct 12, 2020 · 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, shares, gold and silver for your personal investment and trading options.

TurnkeyForex.com

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 400:1
Minimum to Open Live: $5
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, ActivTrader
Web Trading: Yes
Mobile Trading: Yes
Currencies: (85+)
Cryptocurrencies:
CFD: (20+) Gold, Silver, Other Precious Metals, Stocks, Oil, Other Commodities
Scalping: Yes
MAM: Yes
PAMM: Yes
ZuluTrade: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Bitcoin, Neteller, Skrill, SWIFT
Withdrawal Methods: VISA, MasterCard, Local Bank Transfers, Neteller, Skrill

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3.621 · 25 REVIEWS
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Traders Reviews

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.
  1 trader has 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 >>

  2 traders have found this review helpful
Richmond, Canada,
Feb 18, 2019,
Registered user

Good trading conditions, but slow website and unregulated

Been trading here for 2+ months, the trading conditions are decent, low fees, not too much slippage.

I give 3 stars however because their website is extremely slow, and as of right now it does not work at all, it shows that the website does not exist.
This does make me worry a bit, as they are unregulated and makes me think they might just pack up and leave with these digital funds when it suits them.

I will update and provide a more detailed review in the future.
 
USA,
Dec 21, 2018,
Registered user

If this is the same as Finpro then AVOID. I have just been told that any profits above the original deposit will only be paid in BTC. FYI, initial deposit was $10,000 USD and you double account and wish to withdraw you can only do so in BTC. If this is not affiliated with Finpro then my apologies. BEWARE
  1 trader has found this review helpful
Reply by TurnkeyForex submitted Dec 26, 2018:
Hi Mwash! We are not related to Finpro . Thanks
NJ, USA,
Dec 6, 2018,
Registered user

Brokers protect themselves from money laundering

I'm US citizen. Hard to find a broker like this. Anyway, I have taken withdrawal from them and Finpro. Both good brokers and sent my money quickly. I have had experience with other brokers when I tried to withdraw large amounts. They simply ask for more documents. This is money laundering laws guys. Get used to it. If you are not willing to provide this as a USA citizen, use a USA broker like TD who will ask for it up front prior to deposit.

  1 trader has found this review helpful
Mogadishu, Somalia,
Oct 6, 2018,
Registered user

wow it is Amazing they Serve well but they don't have any Regulation i don't know the reason still with out regulation or there is a long process to get Regulation?
 
Romania,
Sep 20, 2018,
Registered user

Excellent broker

I recently opened an account with them.
Very low spreads.
Lowest commission i could find so far.
Reasonable execution and slippage.
Fast and polite support.
One question mark is lack of regulation but i'm willing to trust them as long as i don't see anything bad posted here.
 
BAGHDAD, Iraq,
Jul 22, 2018,
Registered user

Best Broker

Low Commission + low spread+ speed execution = https://turnkeyforex.com/

The only drawback they have. There are not many account financing options. Like a
credit card .
 
Sonny,
India,
Jun 26, 2018,
Guest

My Experience with Turnkey- Impressive Broker

I have a live account with Turnkeyforex...I have used bank wire and Bitcoin to deposit and withdraw from them both have gone smoothly, quite easy especially the Bitcoin transfers.
Impressed with their support staff, they are quick to respond and help...although they have only given me 200x leverage since i avail their bonus promotion, it technically gives me 400x on my account....I would want them to introduce crypto trading as well, since they already use cryptos for deposits and withdrawals.
Will definitely recommend them from my own experience.
 
Senoia, GA, USA,
Apr 26, 2018,
Registered user

So far so good. Just wired $500 to start an ECN account. Spreads are amazing and commissions are very low. Best I've found for US customers looking for an offshore broker. Just wish they were regulated, which is still the only thing that makes me a bit nervous.
 
San Diego, CA, USA,
Feb 26, 2018,
Registered user

Profit from TurnkeyForex Trading

I started last August 2017 with TurnkeyForex. I was testing a number of different Forex brokers and had begun to settle on the ECN account as the only type of account that could adequately accommodate my scalping trading style. Their wonderfully low commissions per trade had an immediate positive impact on the profitability of my scalp trades. I had some problems with the MT4 platform and lost some significant gains due to some freezeups on a wild volume day. So I left. Now I am back! I have not been able to find another forex shop to compare with TurnkeyForex's liquidity, speed, and low-cost rates--and my significant profitability trading here. I wish they had MT5. But being able to easily talk to Ben 1-on-1 for account help has been awesome. He has walked me through many tasks including my first Bitcoin transfer. These are talented, good-hearted folks with an awesome ECN environment that is above all others. I make money here; it's as simple as that.
 
RonWalt,
USA,
Jan 29, 2018,
Guest

Very responsive client support, and a good trading environment with tight spreads and low commissions.
 
Simon,
New Delhi, India,
Jan 26, 2018,
Guest

Excellent client support. Please add MT5 to your available platforms

I have had accounts at over a dozen forex brokers over last several years. One thing that is coming among all the brokers is that they take their customers for granted and the client support is limited to email or support ticketing system.

Turnkeyforex on the other hand is a very professional and client friendly broker. They always are available and willing to get on phone with me. I don't have a very large account with them but they seem to not care if my account size is small. Their client support is top notch and their spreads are as tight, or even better than, some of the leading brokers in the industry. Their client support deserves a 5 star rating. Keep doing the good work. Small traders like me need forex broker who cares.

But one suggestion, you only have MT4 on your platform List. Please add MT5 as well to your platform List. It's an upcoming platform and adding it to your available platforms will enhance your technical competitiveness in the otherwise commoditized industry.

Cheers
 
Bill,
England, United Kingdom,
Jan 10, 2018,
Guest

None existant company - cannot be found at Companies House

When any attempt at due diligence was made they are NOT repeat NOT appearing as a Limited Company in the UK and any live chat with their supposed representatives makes them very evasive.
They even claimed to be formally based in Canada when I phoned them as the manager seemed to panic when questioned on this basic due diligence .
Remember folks - always , always , always do due diligence.
I will not be sending them any money as it is clear they are not who they say they are as no registration exists for this company anywhere in the UK and likely they are not at the generic address they gave. You have been warned
  1 trader has found this review helpful
Romana,
Zagreb, Croatia,
Dec 4, 2017,
Guest

Opening my account was very easy and fast. I am particularly pleased with the support team because every respond comes in a few seconds.
 
Kyrgyzstan,
Nov 30, 2017,
Registered user

Very Great Broker. Powerfull. Very great support. I like it. I opened acoount very easy because support helped me.
 
Valued client,
USA,
Nov 28, 2017,
Guest

Great broker and great live customer service! I do quite a bit of withdrawing and they are always diligent/quick with the process. 100% recommend using their service to access the markets!
 
California , USA,
Nov 21, 2017,
Registered user

So far so perfect

Great Broker, signing up process, deposit, spread, low commissions.... glad that i found these guys
 
Buffalo, NY, USA,
Nov 15, 2017,
Registered user

Quick and efficient

Very quick and gets the job done. every time i message them during hours of operation, i get a respond in seconds
 
Daniel,
Eldoret, Kenya,
Jun 2, 2017,
Guest

Excellent broker. I have traded with them for 2 months and I have never had problems with them. I have withdrawn twice and I received fund within few hours on my Skrill account. The spreads are great! Their commissions are quite lower as compared to other Brokers. My MT4 account is 77-----74.
 
SA, Australia,
Apr 12, 2017,
Registered user

Good broker

I'm trading with turnkeyforex for past 8 months now and have done 456 trades with them till dt. So far turnkey and I have never been on opposite sides. If there are any issues, they are amicably resolved. I never experienced any stop hunting or requotes. Their execution is fast, spreads and commissions are low. Highly recommended!!!

Unfortunately no MT5 :(
 

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