Are you looking for a reliable broker? Flipping through a bunch of reviews and learning by heart the rating of the best brokers in 2020?
Or, for example, did you like a young broker with an interesting name Turnkey Forex? Well, then it’s time to take a closer look at this provider and find out for yourself whether it is worth starting online trading in the markets accompanied by it?
What is known about Turnkey Forex broker?
So, the first thing that catches your eye at the very beginning of the Turnkey Forex broker review is its age. Everything is a little confusing here. So, on the official website, the broker tried not to mention his date of birth. In other sources on the network, it is said that the Turnkey Forex Ltd broker was founded in the distant two thousand and nine. Still, brokerage companies like to exaggerate and cheat their age. After all, working with an experienced company is much more solid and safer.
So, according to the information that we managed to find, the broker was allegedly founded in two thousand and nine and appeared on the Internet only in two thousand and sixteen.
The profile of the hero of our review is Admiral Markets. Here only Forex here involves trading using only eighty-five currency pairs. Not enough, as for the profile of the forex broker.
Among other trading instruments, the broker has CFDs on stocks (allegedly there are as many as 200), on indices (13), on metals (6), on energy (3).
Broker Turnkey Forex claims to provide its clients with access to virtually all markets in the US, Asia, Europe, and even the Pacific.
In general, it should be noted that information about this broker is very scarce. And it is hardly worth complaining about the location of the broker in the UK. Most likely, the reason is simple – it is the extremely short term of the broker’s activity in the market and good secrecy.
Trading terms with Turnkey Forex broker
First of all, when analyzing trading conditions with Turnkey Forex, we paid attention to trading terminals. In this case, these are platforms such as MetaTrader 4, Trade Station, as well as the ZuluTrade platform. In truth, the list of trading terminals does not inspire any confidence and certainly does not mean that this broker is keeping up with the times! Regardless, Turnkey Forex prides itself on its arsenal of platforms and boldly proclaims its professionalism. But it is known that even the very MetaTrader 4 is a relic of the past. The platform is completely and completely tailored for brokers, and in the course of work on it, failures occur more and more often. Needless to say about a veteran trading platform called ZuluTrade! After all, this is one of the oldest trading platforms! As you can see, working with the Turnkey Forex broker will definitely not be able to keep up with the times and rejoice at the latest developments in online trading.
The pretentious promises of the Turnkey Forex broker on the account of bonus systems do not inspire confidence. And there are a lot of them here.
All in all, the Turnkey Forex broker offers its clients five main types of trading accounts.
What you should pay attention to when analyzing the TurnKey Forex broker
If you decide to visit the company’s website, you should pay special attention to the footer. For those who don’t know, a footer is a small piece of text at the bottom of a page that is usually in small print and includes a short legal summary. After reading the text, it is worthwhile to come to the conclusion that TurnKey Forex only performs intermediary functions for traders to enter various world exchanges, however, if a trader encounters any difficulties, then nothing will depend on the broker. And support may simply not respond for months until your deposit burns out completely.
To summarize, the top common fraudulent operations of Forex brokers include:
- forged documents, licenses, documents, certificates;
- conflict situations that have become sensational events (litigation, a large number of negative reviews, complaints from customers)
- Being on the blacklist of the OTC Financial Instruments and Technologies Regulatory Center;
- registration of a dealing center in an offshore zone (in fact, finding a company offshore is not always a bad thing, however, most often it indicates that the company is a kitchen);
- fast capital growth, which includes low commissions, promotions, bonuses, prizes that can only be obtained by investing additional funds.
In order not to fall into such a kitchen, you need to pay special attention to a broker work activities, as well as check all the documentation and make sure that the license is valid. In addition, if you think that you need to take reviews, you need to find them not only on the broker’s portal but also on our information resource tradersunion.com/.
Disclaimer: This content does not necessarily represent the views of IWB.