Turnkey Forex Review: What Makes This Firm So Dangerous?

Turnkey Forex, or Turnkey Forex Limited, is a brokerage incorporated in Mauritius. With their activities since 2016, they haven’t built a good reputation. On the contrary, everything you take a look at with this firm smells like a scam.

Luckily, this Turnkey Forex review shows you the necessary tips and tricks to keep your funds safe. But also how to choose the right brokerage and the benefits of AI tools nowadays.

Is TurnKey Forex Safe?

One of the leading signs this firm is not safe is a lack of regulations. Generally speaking, FSC Mauritius is a weak domestic option. But it would be better than nothing anyway. However, companies with top-tier licenses like FCA, ASIC, and BaFin are the ones you should look for. Yet, TurnkeyForex company doesn’t have any.

Instead, the company came on a warning list of a trusted regulator. We are talking about the Commodity Futures Trading Commission (CFTC) from the US. Therefore, you can forget about any protection from the company’s side. But a similar offer can be seen with the Coinexx broker.

Why Is Regulation Necessary?

The regulation is necessary for various reasons, but primarily because the company must be transparent about many things. On top of that, depending on regulation, you can enjoy some funds protection measures, such as negative balance protection and guaranteed stop-loss. Not to mention compensation schemes like in the case of FCA-regulated firms.

User Experience – What Other Traders Say?

Apparently, the company has a 4.4 rating on Trustpilot. On top of that, there are 171 comments at the moment, mostly positive ones. However, the low percentage of negative ones is actually the truth.

Luckily, these Turnkey Forex reviews can show you that almost everything could be fake nowadays. Unless you are working with top-tier licensed firms.

What Are Trading Platforms Available?

Surprisingly, the company offers highly popular and reliable MT4 and MT5 software. But there is also ActTrader as the secondary option. In general, you can enjoy a wide range of advanced features there.

But if the withdrawal is questionable, software choice becomes irrelevant. But very quickly, these standard platforms and strategies will be changed for AI tools. For instance, AI Analysis Bot.

Available Trading Instruments

In general, the company has a wide range of tradeable assets. These are divided into four main categories, and anyone can find suitable options. Just make sure you are trading through reliable platforms like MetaTrader to avoid market data manipulation. In any case, you can trade with:

• Currency pairs – USD/GBP, EUR/HUF
• Commodities – natural gas, platinum
• Indices – ASX 200, S&P 500
• Crypto – LTC, ETH, XRP

Can You Trade On A Mobile?

On the positive side, traders can use these platforms wherever they are. But even more importantly, regardless of their mobile device type. But as can be seen in our Coinexx review, without a license, none of this is important.

Account Types With Turnkey Forex

Important to realize is that the company has quite a low minimum deposit requirement. It starts at $10, and that’s something that can attract new traders. Regardless of your deposited amount, you can choose between two account options:

• STP
• ECN

Practically, the only difference there is in the spreads and commission. Yet, the costs are considerably low, and we are wondering how they are making profits. But it seems like only from your deposits.

Can You Trade On a Demo?

Indeed, Turnkey Forex broker offers a free demo account. Most importantly, you don’t have any restrictions. But be careful because it may take longer than you think to test all the strategies. Thus, to avoid that, an AI Analysis Bot might be a perfect solution.

Trading Fees, Leverage, and Commissions

Of course, like any other offshore swindler, they offer insanely high leverage. In this case, up to 1:500. In addition to that, they don’t have a negative balance protection. Therefore, you can lose everything in a blink of an eye.

As for spreads, the company offers highly attractive spreads from 0 pips. On top of that, their $1 commission can also be interesting. Yet, it might make you wonder how they make profits, though. But to see all the manipulations with trading conditions, check our VitalInvest review.

Deposit Methods And Withdrawal Policies

Important to realize is that the company doesn’t have transparent funding policies. Allegedly, they are accepting many different payment methods, starting with bank transfers, cards, and crypto. Yet, if you check their reviews, you will realize they are mainly forcing crypto. The main reason behind it is that you can’t file a chargeback.

As for withdrawals, they don’t reveal any fees. Therefore, expect non-existent ones they will make up along the way. In general, that’s something that swindlers are often using to extort your last money. After that, they vanish.

Summary: Can You Trust Turnkey Forex Broker?

The only positive thing about this firm is its trading software choice. But also a demo account. Everything else is quite suspicious. In the first place, it is because the company is missing regulations. Not to mention, they are on the CFTC warning list.

This is a sign that you have started choosing the right brokerages and tools. For example, AI Analysis Bot. Decades of market data, live analysis, technical indicators, and patterns combined in one signal. Which leaves you a choice to invest or not. No pressure, no manipulations that you were used to. Contact us and find out more.

How Can I Make Money While Trading Online?

If you ask these swindlers, they will just tell you to start investing with them. But if you ask experienced traders, they will tell you a different story. All in all, you have to find the most suitable environment for yourself. In the first place, a regulated company to work with. Otherwise, all the success would be worthless.

But if you want outstanding results, we suggest you try AI tools. Such as AI Analysis Bot. As you can see, with the expansion of AI tools, many businesses have skyrocketed. Why then limit your potential? With this tool, you can trade like a pro while still keeping control of your money! Book a free consultation with our experts and find out more details already today!

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