Turnkey Forex Forex Broker

Turnkey Forex Broker - Comprehensive Information Guide

1. Broker Overview

　　Turnkey Forex, officially known as Turnkey Forex Limited, was established in 2016 and is headquartered in Quatre Bornes, Mauritius. This broker operates as a private entity, providing services primarily to retail clients across various global markets. Over the years, Turnkey Forex has made significant strides in the online trading industry, focusing on offering competitive trading conditions, including low spreads and high leverage.

　　The broker initially started as an investment advisor for institutional investors before transitioning into a full-fledged brokerage. This evolution has allowed Turnkey Forex to leverage its expertise in financial markets to cater to a broader audience, including retail traders. The company aims to deliver a seamless trading experience, underpinned by advanced technology and customer-centric services.

　　As a technology-driven broker, Turnkey Forex utilizes various trading models, including ECN (Electronic Communication Network) and STP (Straight Through Processing), to facilitate trading for clients. This operational model ensures that traders have direct access to liquidity providers, enhancing execution speed and pricing transparency.

2. Regulatory and Compliance Information

　　Turnkey Forex operates without regulation from any recognized financial authority, which raises significant concerns regarding the safety and security of client funds. The broker claims to be registered in Mauritius, an offshore jurisdiction known for its lenient regulatory environment. However, it does not hold a valid license from the Financial Services Commission (FSC) or any other reputable regulatory body.

• Regulatory Bodies: None
• Regulatory Numbers: Not applicable
• License Validity and Scope: Turnkey Forex does not possess any regulatory licenses.
• Client Fund Segregation: The broker states that client funds are held in segregated accounts, but the lack of regulation means that there is no guarantee of protection in case of insolvency.
• Investor Compensation Fund Participation: Not applicable, as the broker is unregulated.
• KYC and AML Compliance: While Turnkey Forex claims to implement KYC (Know Your Customer) and AML (Anti-Money Laundering) measures, the effectiveness of these measures is questionable due to the absence of regulatory oversight.

3. Trading Products and Services

　　Turnkey Forex offers a diverse range of trading products, making it a versatile option for traders. The broker provides access to:

• Currency Pairs: Over 85 forex currency pairs, including major, minor, and exotic pairs.
• CFD Products: Trading options include indices, commodities, stocks, and cryptocurrencies.
• Unique Trading Instruments: The broker also offers trading in precious metals like gold and silver, as well as energy commodities like oil.
• Product Update Frequency: Turnkey Forex regularly updates its trading offerings, although specific details on new products are not publicly disclosed.
• Retail Trading Services: The broker caters primarily to retail clients, offering various account types to suit different trading strategies.
• Institutional Client Services: While primarily focused on retail trading, Turnkey Forex does provide services that may appeal to institutional clients.
• White Label Solutions: Details on white label solutions are not provided in the available information.
• Asset Management Services: The broker does not explicitly mention asset management services.

4. Trading Platforms and Technology

　　Turnkey Forex supports multiple trading platforms, ensuring that clients have access to the tools needed for effective trading:

• MetaTrader 4/5 Support: The broker offers both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are widely recognized in the trading community for their functionality and user-friendliness.
• Proprietary Platform Details: No proprietary trading platform is mentioned; the focus remains on the MetaTrader platforms.
• Web-Based Trading Platform: Turnkey Forex provides a web trader option, allowing clients to trade directly from their browsers without downloading software.
• Mobile Applications: The broker supports mobile trading through MT4 and MT5 applications available for both iOS and Android devices.
• Execution Models: Turnkey Forex operates on an ECN and STP execution model, ensuring direct access to market liquidity.
• Server Locations and Infrastructure: The broker utilizes trading servers located in major financial hubs, although specific locations are not detailed.
• API Access and Automated Trading Support: Turnkey Forex supports API access for automated trading, enabling clients to implement their trading algorithms seamlessly.

5. Account Types and Trading Conditions

　　Turnkey Forex provides various account types to accommodate different trading preferences:

• Standard Account Conditions: The minimum deposit for opening an account is $10, with variable spreads starting from 0.0 pips and a commission of $1 per lot for the ECN account. The STP account does not charge a commission but has slightly higher spreads.
• Advanced Account Types: The broker does not specify VIP or professional account types; however, both ECN and STP accounts are available.
• Special Accounts: There is no mention of Islamic accounts or corporate accounts.
• Demo Account Policy: Turnkey Forex offers a demo account for practice, allowing traders to familiarize themselves with the platform.
• Leverage Ratios: The broker offers leverage of up to 1:500, depending on the account type and trading instrument.
• Minimum Trade Sizes: The minimum trade size is 0.01 lots, suitable for micro trading.
• Overnight Fees: Specific policies regarding overnight fees or swap rates are not detailed in the available information.

6. Fund Management

　　Turnkey Forex provides several options for fund management, which include:

• Supported Deposit Methods: Clients can deposit funds using various methods, including bank transfers, credit cards, and cryptocurrencies (such as Bitcoin).
• Minimum Deposit Requirements: The minimum deposit is $10 for both ECN and STP accounts.
• Deposit Processing Times: Deposits are typically processed quickly, although specific timeframes are not provided.
• Deposit Fees: There are no fees for deposits, making it cost-effective for traders.
• Withdrawal Methods and Restrictions: Withdrawals can be made through similar methods as deposits, but specific limitations are not detailed.
• Withdrawal Processing Times: The broker processes withdrawal requests within 24 hours, although this may vary.
• Withdrawal Fee Structure: There are no withdrawal fees mentioned, making it an attractive option for traders.

7. Customer Support and Educational Resources

　　Turnkey Forex emphasizes customer support, providing various channels for assistance:

• Support Channels: Clients can reach out via phone, email, live chat, and social media.
• Service Hours and Time Zone Coverage: The support team is available 24/5, although extended hours for weekends or holidays are not specified.
• Multi-Language Support: The primary language of support is English, with no mention of additional languages.
• Educational Resources: The broker does not provide extensive educational materials, such as webinars or tutorials, which could benefit novice traders.
• Market Analysis Services: There is no indication of daily market analysis or research reports available to clients.
• Trading Tools: Turnkey Forex offers basic trading tools, including calculators and economic calendars.

8. Regional Coverage and Restrictions

　　Turnkey Forex aims to serve a global client base but has specific regional limitations:

• Primary Service Markets: The broker primarily targets retail traders across various countries, excluding the United States.
• Regional Office Distribution: The main office is located in Mauritius, with no additional offices mentioned.
• Countries/Regions Not Accepted: Turnkey Forex does not accept clients from certain jurisdictions, including the USA and a few others.
• Special Restrictions: Specific restrictions are not detailed, but the broker's unregulated status may deter clients from certain regions.

　　In conclusion, while the Turnkey Forex broker offers a range of trading products and competitive conditions, potential clients should exercise caution due to the broker's lack of regulation and oversight. It is advisable to conduct thorough research and consider alternative options with established regulatory frameworks before engaging in trading activities with Turnkey Forex.