JT_Mays Reviews

Review for TurnkeyForex.com

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.
 

Review for HugosWay.com

California, USA,
Dec 20, 2019,
Registered user

Decent Unregulated Broker

Service use: Live

Length of use: over 1 Year

Pro's
- Accepts US customers
- Responsive
- Good Customer Service
- Lighting fast withdrawals
- Excellent back office portal (quick and secure (2FA) and can make instant transfers, deposits and withdrawals)

Con's
- Unregulated
- Deposits/withdrawals only by bitcoin (the fluctuating bitcoin prices can be a gamble... they should offer stable crypto options like trueusd)
- Trading costs and conditions, although not the worst, are not the best especially for night scalping
-They 'archived' my trading history so that I can no longer go back and see individual trade history beyond Sept 2019
  2 traders have found this review helpful