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All in all, Turnkey is a good broker for intermediate and advanced traders who understand the additional risks of using the services of an unregulated broker. MetaTrader 4 (or MT4 for short) is a widely used trading platform among forex traders all over the world. I like this platform as it is user friendly yet still complex enough https://www.xcritical.com/ to meet the needs of almost all types of traders. The MT4 platform is fast, reliable and replete with trading and analytical tools.
How to Open a Turnkey Forex Account – Step-by-Step Guide
Turnkey Forex offers commission-free trading on its STP turnkeyforex account. Expert Advisors and algo trading can be made use of, on these accounts. It allows hedging and scalping as well, and just like ECN account, offers a 100 % deposit bonus by just sending an email to their support team. 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.
Turnkey Forex Review – Can You Trust This Broker?
Mainstream brokers like AvaTrade or Oanda have not introduced Act Trader just yet, and they also come with higher costs for traders as they are market makers. While Turnkey Forex comes with excellent trading conditions, education and research to help beginners and advanced traders alike are completely missing. Perhaps, the broker may benefit from introducing guides on how to trade the market and how to use a trading platform. There is only a FAQ section that addresses a few key matters, such as how to open a corporate or individual account, leverage, and margin requirements. This broker offers access to several asset classes, including currency pairs and commodities, indices, and cryptocurrencies. These are available via one of the three platforms detailed below.
Turnkey Forex Review – Company Information
For the moment everything is functioning without errors and without non-executed deals when signal pops up. It lets users trade in currencies, forex options, contracts for differences (CFDs), futures, equities, and exchange traded funds. The platform is flexible and easy to customize and organize, and unlike MT4 and MT5 comes with built-in one-click trading capabilities. It supports market, stop and limit orders; price alerts; comprehensive charting package with 30 technical indicators and trading-from-charts capabilities, etc. Another feature of the application is ActFX, which allows traders to analyze charts, automatically open or close positions, and backtest trading strategies.
It is a modular white label platform developed by the software provider ActForex. According to Google Trends, here is an overview of how frequently the search term “Turnkey Forex” is entered into Google’s search engine over a given period of time. I am trading for the long run, I don’t want to be staring at my charts all night, I want to get in and get out and let my money work for me. Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market.
Eas also work effectively, and with that, there is an opportunity to trade without being physically involved. I also like the flexibility the broker offers in its asset provision. For advanced and intermediate traders, it is possible to join either Act Trader or MetaTrader, depending on skills and preference. The broker also supports multiple trading styles and strategies, including automated trading, scalping, day trading, and more.
You will find a generous selection of around 500 trading instruments in 4 main asset classes are available to trade. This includes CFDs on forex, commodities, indices and some cryptos. The broker has low spreads starting from just 0.0 pips and commission fees from $1. This is great for anyone who is planning on using automated scalping systems on the MetaTrader platforms such as myself. My only concern would be the lack of regulation which we will look at in the next section. Turnkey allows a minimum trade size of 0.01 lots & a maximum of 100 lots.
Upon seeing the funds deposited by the trader, the EA will automatically trade on his/her behalf. It is possible to track the performance of the EA, but the trader needs to be very careful and factor in all the possible risks of trading with an automated system. The Electronic Communication Network offers the best conditions for trading. For instance, it allows the traders to give specific preset conditions at which they would like to trade. $10 is the minimum balance required in order to open this type of account with Turnkey Forex.
These platforms are widely recognized and popular among traders due to their user-friendly interface, extensive charting capabilities, and automated trading options. Traders can also access these platforms on various devices, including desktop computers, smartphones, and tablets. One of the major advantages of trading with Turnkey Forex is the wide range of tradable instruments available.
While Turnkey Forex seems to offer a promising trading environment, it is always wise to evaluate your own risk tolerance and financial goals before making any investment decisions. 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. If you are unsure if this is the broker for you, you can also opt for a free demo account. You can test all of its features using real market prices while risking only virtual funds.
One area where Turnkey Forex falls short is in providing educational resources for traders. While they offer basic tutorials and guides, they do not have a comprehensive educational section like some other forex brokers. This can be a disadvantage for beginner traders who rely on educational materials to improve their trading skills and knowledge. If you don’t mind the lack of education and educational resources, you will find this no-nonsense broker highly useful, functional, and compatible with a wide range of strategies. Overall, if you need access to one of the world’s most popular trading platforms and low costs, this may be the broker you need.
Since I am scalper, low costs are one of my first requirements when picking a broker. Here is have $1.0 on round lot and very small spreads, around 0.01 pips on eurusd, There are no other trading costs. I need to stress that up to now I did not experienced any issues with execution of deals. The forex market has gained significant popularity in recent years, attracting both seasoned traders and beginners alike. With its potential for high returns and the ability to trade 24/7, forex trading has become a lucrative investment opportunity.
- I won’t say much as I have just started with them recently but my till date experience has been satisfactory.
- For VIP accounts, spreads are as low as zero, but requires a USD 25,000 deposit, and is therefore an option for high volume traders only.
- For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker.
- This means that there should be no conflict of interest between your trades and the broker.
- Turnkey Forex has partnered with third party VPS providers in order to provide reliable, low latency connections to the trading servers on a 24/7 basis.
- Similar to MT4, it packs powerful analytical tools, technical indicators, and fundamentals, and can be customized to cater to your specific needs and trading objectives.
Here I have possibility to trade crypto on an ecn account, where costs of trading are significantly lower, comes with $1 fixed plus a small spread. In addition, here I am allowed to use leverage for trading cryptos and also to use my own ea, which works perfectly on their web terminal. Overall, I am very satisfied here, and I hope that it will be so also in the future. Turnkey Forex is a registered trading name of ‘Turnkey Forex Limited’. Many experts and professional traders would not trade with an unregulated broker.
Have just made one withdrawal till date, which was quite swiftly done. I won’t say much as I have just started with them recently but my till date experience has been satisfactory. I started with the demo account and it has still been useful till now. I was a little nervous when I started the live account but was able to get balance within 1 month. Not all months have been highly profitable but I have been making more profit than losses.
