Website URL: https://turnkeyforex.com/
Deposit Methods: Credit/Debit Card, Bank Wire Transfer, Neteller and Skrill
Minimum Deposit: $5
Free Demo Account: Yes
Types of Assets: Forex, Commodities, Shares, Indices, ETFs
This review is dedicated to a broker that has one motto — Client is the king. We are talking about Turnkey Forex. In the beginning, this was an Investment Advisor for institutional investors and it slowly turned into a Forex broker. So, let’s see what it offers now.
As a client, you get to choose different platforms. The most popular MetaTrader 4, Trade Station, or Social Trading with Zulu Trade. If you are not a fan of MT4, there is a possibility to download Trade Station on any device.
If you choose Social Trading, you have to use the Zulu Trade platform. This way you will have the possibility to connect with experts, create different packs of instruments, and earn extra revenue. I have to say, I am impressed with this offer. It is important to provide an excellent and responsive platform and Turnkey Forex managed to do that.
This Turnkey Forex review started with very good impressions and apparently, it will continue in that direction for now. Each client can choose one of five accounts. We have ECN (Electronic Communication Network), STP (Straight Through Processing), Micro Account (Minimal Initial Deposit), Swap-Free (Islamic Account), and VIP Account.
The first one, ECN, has a special ECN technology that allows you to specify the conditions. Some of those conditions are a margin call of 70%, spreads from 0.00 Pips, leverage up to 1:400, as well as scalping and hedging.
The second one, STP Account, does not limit you on the use of automated trading, expert advisors, and strategies. With this account, you will get spreads from 0.2 Pips and the minimum trading size of 0.01 lots.
The next one is Micro Account. This is an excellent choice for beginners since you can deposit just $5. The leverage is up to 1:200, spreads are from 0.2 Pips, minimum trading size 0.01 lots, and 70% margin call. The only negative thing about this account is the commission of $8 per $100k Round Turn.
The VIP Account offers spreads from 0.00 Pips, leverage up to 1:100, the maximum trading size on your request, and the minimum account balance of $25,000 with a bonus of up to $20,000.
After all those surprises, we ran into the first disappointment in this Turnkey Forex review. The Customer Support center looks excellent. But that is just at the first glance, unfortunately.
This broker offers different contact methods, but you cannot count on all of them. For example, there is an option to chat on Skype, but in reality, that is only an icon, nothing more. You cannot click on it. You have the possibility to send an email, call the phone number or send a message using Live Chat.
Of course, we chose Live Chat. The Chat is not working properly, and you need to refresh a page a couple of times. Even if you do that, a new error will occur. So, proper customer support is not something you can count on if you become a client at Turnkey Forex.
Deposits and Withdrawals
As a deposit method, you can choose Bank Wire Transfer, Credit/Debit Card, or online payment gateways (Neteller and Skrill). The minimum deposit amount depends on the account and the currency you choose needs to be the same when you make a withdrawal request.
We do not have a problem with a variety of payment methods, but we do find one thing questionable. When you go to FAQ Page, it is written that you have to wait 30 minutes for Skrill and Neteller withdrawals, 48 hours for Credit/Debit Card ones, and three to five business days for Bank Wire Transfer.
Well, that’s not a problem but when you go to the Withdrawal Policy Page, things are a bit different. Credit Card withdrawals take up to five days and for Skrill/Neteller you have to wait within two days.
If a Forex trader doesn’t work on the knowledge and skill improvement, can they count on success? Of course not. That is the reason education is one of the most important parts. Well, this broker won’t provide you with the necessary learning material. In fact, there is not a single educational article on the website and that is quite disappointing.
You can find some tools like MAM Account (Multi Account Manager), VPS Hosting (Virtual Private Server), FIX API (for accounts with a minimum $25,000 balance), and Robo Trading but that’s not enough at all.