Turnkey Forex Company

Turnkey Forex Company: A Comprehensive Overview

1. Company Overview

Founding Date and Background

Turnkey Forex was established in 2016, positioning itself as a forex and CFD broker aimed at providing traders with a platform to access various financial markets. The company claims to have evolved from an investment advisory service for institutional investors to a full-fledged brokerage.

Parent Company/Ownership Structure

Turnkey Forex operates under the name Turnkey Forex Limited. However, detailed information about the ownership structure is limited, and the company lacks transparency regarding its parent company.

Headquarters Location

The company is purportedly headquartered in Quatre Bornes, Mauritius. This location is often chosen by brokers due to the relatively easy regulatory environment.

Global Business Scope

Turnkey Forex aims to serve a global clientele, accepting clients from various countries, including the United States. However, it is important to note that the broker is not regulated by any major financial authority, which raises concerns about its operations.

Main Regulatory Bodies

Turnkey Forex does not have effective regulation from any recognized financial authority. It operates without oversight from major regulators such as the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC).

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2. Company History and Development

Key Milestones

Since its inception in 2016, Turnkey Forex has positioned itself in the forex trading market without any significant milestones that enhance its credibility. The absence of regulatory oversight is a notable aspect of its history.

Business Expansion Journey

While Turnkey Forex has made efforts to expand its offerings, including various account types and trading instruments, its lack of regulation and transparency has limited its growth potential in the competitive forex market.

Customer Base Growth

The company claims to have attracted a diverse customer base, although specific figures regarding its client acquisition and retention rates are not publicly available.

Platform Development History

Turnkey Forex offers trading on popular platforms such as MetaTrader 4 and MetaTrader 5. However, there is little information available regarding the development and enhancement of its trading platforms.

Important Awards or Recognitions Received

To date, Turnkey Forex has not received any notable awards or recognitions that would enhance its reputation in the forex trading industry.

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3. Trading Services Offered

Forex Trading Options

Turnkey Forex provides access to a wide range of forex trading options, including more than 85 currency pairs. The broker offers various account types, such as ECN and STP accounts, to cater to different trading strategies and preferences.

Stock Trading Options

The broker offers trading on a selection of stocks, allowing clients to invest in shares from various global markets. However, the specific number of stocks available for trading is not clearly stated.

CFD Trading Products

Turnkey Forex allows trading in Contracts for Difference (CFDs) on commodities, indices, and ETFs. This provides traders with the flexibility to speculate on price movements without owning the underlying assets.

Other Financial Instruments

In addition to forex and stocks, Turnkey Forex offers access to cryptocurrencies, commodities (such as gold, silver, and oil), and indices. This diverse range of financial instruments allows traders to build a varied portfolio.

Special Services or Unique Advantages

Turnkey Forex claims to provide low spreads, fast execution, and a user-friendly trading experience. The broker also offers managed accounts and VPS services, although the details of these services are not extensively outlined.

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4. Regulatory and Legal Background

Detailed Regulatory Information

Turnkey Forex operates without regulation from any recognized financial authority. This lack of oversight raises concerns about the safety of client funds and the broker's legitimacy.

Legal Entity Structure by Region

The broker is registered as Turnkey Forex Limited in Mauritius, but it lacks a transparent legal entity structure that would typically provide assurance to clients regarding its operations.

Client Fund Protection Measures

Due to the absence of regulation, there are no formal client fund protection measures in place. This poses a significant risk for traders who choose to engage with Turnkey Forex.

Countries/Regions Served

Turnkey Forex accepts clients from various countries, including the United States. However, it is essential to note that traders from regions with strict regulatory requirements may face challenges when dealing with this broker.

Compliance History

Turnkey Forex has not reported any compliance history, which is concerning given its unregulated status. The absence of a clear compliance framework raises red flags for potential investors.

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5. Competitive Landscape

3-5 Main Competitors

Turnkey Forex faces competition from several established brokers in the forex trading market, including:

• FP Markets: Regulated by ASIC, known for its competitive pricing and diverse offerings.
• IC Markets: Another well-regulated broker offering low spreads and a wide range of trading instruments.
• OANDA: A reputable broker with a strong regulatory framework and a user-friendly platform.

Positioning in the Industry

Turnkey Forex positions itself as a low-cost broker with a focus on providing various trading options. However, its unregulated status limits its appeal compared to more established and regulated competitors.

Market Differentiation Factors

The primary differentiation factor for Turnkey Forex is its claim of low minimum deposits and a variety of trading instruments. However, the lack of regulation and transparency significantly undermines its competitive positioning in the market.

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Conclusion

Turnkey Forex presents itself as a forex and CFD broker with a focus on providing a diverse range of trading options. However, the absence of regulation and transparency raises significant concerns regarding its reliability and the safety of client funds. Potential traders should exercise caution and consider engaging with well-regulated brokers to mitigate risks associated with trading in the forex market.

For more detailed information on forex trading and broker evaluations, learn more.