I am a forex trader, trading with assistance of an algorithm. Since I have relatively larger number of deals on a daily basis, I have tested this broker for a month on a demo account in order to be certain that it can sustain my trading strategy. Demo account did not exposed any issues so a week ago I have turned to real account. For the moment everything is functioning without errors and without non-executed deals when signal pops up.
You don’t have to own the underlying assets, and they can also increase their profit with leverage. The broker has a wide range of instrument classes helping traders to create different trading portfolios. Even though the asset classes are wide, the tradable assets in them are not much. If the broker liquidates, all the funds in the segregated bank account won’t be affected, which is a benefit for clients of this company.
Broker information
It can only be accessed via email, address and a phone number. Since the company’s website is not currently open, we do not know if it offers other services such as live chat, callback, FAQ, 24/7 or 24/5 service, etc. The ECN account has a commission of 1 USD per lot but lower spreads, while the STP account requires no commissions buy a higher level of spreads. With more than 70 currency pairs, Turnkey Forex is a great choice for forex trading. Also, MetaTrader 4 and Act Trader are some of the most popular platforms in the world for forex trading.
The brokerage firm has grown from its inception to what it is today quickly, and I believe the company will keep growing and getting better with time. Traders can use these tools and resources to help manage their risk, and also get access to educational material and other resources. However, it’s important to note that trading always carries a risk and no strategy or tool can guarantee success. Traders should always understand the risks involved and invest only what they can afford to lose. The lack of a training academy is not helpful to beginners and no daily market analysis or insights are provided to help inspire trade ideas. Turnkey Forex offers two Partnership options in the form of the Introducing Broker Program and an Affiliate Option.
Turnkey Forex Alternative Brokers
This means that potentially any major liquidity provider you are interested in can
be integrated with your business. Turnkeyforex offers different commissions and fees for its account types. The minimum trade size is 0.01, while the maximum is 100 lots. A Forex broker like Turnkey Forex provides traders with access to one or more platforms that will allow them to buy and sell foreign currencies. Retail currency traders use these broker companies to gain access to the 24-hour currency market for speculation purposes.
Although the Forex market is highly saturated and extremely competitive, the trading
volumes amount to trillions of dollars, and there is always a place for a new player. But to expect rapid growth, you https://www.xcritical.com/ need services and technology that are designed considering
all the peculiarities of the domain. Get access to advanced analytics modules, KYC/AML services, and 60+ fiat payment system integration.
Broker Types
For the last two months I didnt regret, and hope that I will not in the future. Some of the points that I would note are low costs on ecn account which range as low as $2 for traded round mini lot, possibility for margin trade and allowed hedging. Overall, trading costs are indeed low here, which is good since I have larger number of trades. It would be preferable to start with a turnkey solution if you want to launch a Forex trading firm. It means fewer legal procedures, no immense financial needs, and a quicker startup process for a new broker.
- Turnkey Forex provides two different account types, ECN account, STP account, and Risk-Free Demo account options.
- Turnkeyforex ensures that clients’ funds are protected by separating clients’ money from the company’s money.
- Forex broker services can also be provided for institutional clients and large companies such as investment banks.
- However, with more and more brokers available on the foreign exchange markets nowadays, you need to find a fair broker that helps you be consistently profitable from your many trades.
- Turnkey Forex is one of the best Forex trading platforms with superior trading technology, fast execution and good customer support.
Customer service is taken care of through a phone hotline, email, as well as a live chat service for clients to send inquiries. Support working hours are not explicitly stated on the broker’s website. Turnkey Forex is a forex broker operating in an unknown location, not regulated by any government agency. The broker allegedly has a representative office at Quatre Bornes, Mauritius. Forex pairs are many, and traders won’t have to trade the same pairs monotonously at all times.
Overall Turnkey Forex Ranking
The broker is trusted by more than 60,000 traders who use its products and services to trade the global market. It has grown to have clients in more than 150 countries worldwide. I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader. Broker offers clients a free Demo account with $10,000 for practicing trading.
In terms of deposit and withdrawal, like many good brokers, Global Prime provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc. Yes, Turnkey Forex offers swap-free Islamic accounts for Muslim traders. The minimum https://www.xcritical.com/blog/turnkey-broker-make-a-profit-for-your-company/ deposit needed to trade is 0.0003BTC or equivalent cryptocurrency that turns out to be $10 (approx). Yes, you can access the demo account on Turnkey Forex, which looks and works the same way as the live account, except that you can’t use real money in a demo account.
ECN Account
Turnkeyforex is not strongly regulated, and it is not a strongly recommended company for this reason. The broker is not strongly regulated but has some measures for protecting clients’ funds. Such measures include keeping clients’ money in a segregated bank account to keep the clients covered in a case of liquidation. If there is a choice, the trader should keep in mind what he would like to trade and find the platform that suits his needs best. Turnkey Forex does not offer Islamic swap-free trading on 2 trading account levels. Turnkey Forex offers Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries.