No valid regulatory information
Please be aware of the risk!
No restriction on the broker account. Provide service support by WikiFX
5th Floor, Ebene Views 66C2 Ebene Quatre Bornes, Mauritius
It has been verified that this broker currently has no valid regulatory, please be aware of the risk!
Average transaction speed（Millisecond） Poor 737.4
The fastest transaction speed（Millisecond） 500
The fastest transaction speed [open]（Millisecond） 500
The fastest transaction speed [close]（Millisecond） 512
Slowest transaction speed（Millisecond） 1953
Slowest transaction speed [open]（Millisecond） 1953
Slowest transaction speed [close]（Millisecond） 0
Average disconnection frequency（times/day） 1.5
Average reconnection time（Millisecond） 448
XAUUSD Perfect 0USD/lot
Average trading slippage Poor 11.1
Maximum transaction slippage 10
Maximum transaction slippage [Long] -2
Maximum transaction slippage [Short] 10
Turnkey Forex clearly did none of the above, and could not even be considered a broker, but rather a foreign exchange market con. If Turnkey Forex offers higher leverage than this, it's a red flag that business could be a scam. Turnkey Forex is more likely to be a scam if it involves a higher-than-average investment. A legitimate broker will usually ask around $5 to $10 in exchange for their services.
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General Information & Regulation
Turnkey Forex is a forex and CFD broker that offers online trading. Launched in 2016, Turnkey Forex has its headquarters in London, UK, and there is a customer support team that is available 24/7. Turnkey Forex is so far not subject to any valid regulation. Still, Most experts and professional traders would not trade with an unregulated broker.
Turnkey Forex offers investors access to trading instruments including Forex currency pairs, commodities, indices, and cryptocurrencies.
Turnkey Forex offers traders two types of accounts: the STP and ECN Accounts. The minimum initial deposit required by this broker is only $10, which sounds quite reasonable for most regular traders.
Turnkey Forex Leverage
When we talk about the trading leverage offered by Turnkey Forex, the maximum leverage level available is relatively high, reaching up to 1:500. Leverage magnifies the returns from favorable movements in a currency's exchange rate. It's important that forex traders learn how to manage leverage and employ risk management strategies to mitigate forex losses.
Spreads & Commissions
The minimum spreads start from 0.1 pips for EURUSD, 1 pip for EURGBP, 1.6 pips for GBPCAD, 0.25 pips for XAUUSD, 0.015 pips for XAGUSD, 1.3 pips for D30EUR, and 2 pips for U30USD. The commission for ECN accounts is $1 (per side) per standard lot. Commission on cryptocurrencies is $1 per $100K and on stock indices is 0.1$ per lot.
Turnkey Forex offers traders a wide range of trading platforms, including the industry-leading MT4 and MT5 trading platforms, as well as web terminals, mobile apps, and ActTrader, to meet a wide range of traders needs.
Deposit & Withdrawal
Turnkey Forex welcomes traders' payments using cryptocurrencies, in addition to Instcoin (minimum deposit of $50, minimum withdrawal of $10), VLOAD (minimum deposit of $10, minimum withdrawal of $100), wire transfer, and VISA for withdrawals and deposits.
Turnkey Forex alleges its client support desk is always available to assist clients on a 24/7/365 basis. A quick way to reach the support desk is through the instant web chat on the website.
The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.
Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.
Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.