I am not sure if they will continue also in the future, but so far is good, and I am withdrawing my profits from my account regularly(just in case). From my study so far, it seems the only difference between them is the spread and commission and it even made it more tricky for me at first. The ECN offers 0.0 spreads but charges commission while the STP offers around 0.2 pip spread which is also low and does not charge any trade commission. But I must confess, the two accounts have low costs and the general broker’s trading cost is very low.
- Turnkey Forex provides this service to traders who run complex algorithms and those who want to build their own trading systems.
- You can choose between opening an ECN account or an STP account, both with excellent trade execution.
- The VPS and API trading facility that they offer makes them one of the most new-age brokers of today, offering excellent trading conditions.
- The lack of a training academy is not helpful to beginners and no daily market analysis or insights are provided to help inspire trade ideas.
- Yes, Turnkey Forex offers swap-free Islamic accounts for Muslim traders.
This would ensure maximizing the profits and minimizing the losses. The broker provides a conducive trading environment to its clients for trading forex, cryptocurrencies, commodities, and indices. Turnkey Forex offers true ECN spreads on Forex instruments. The spreads on EUR/USD can go as low as 0 pips but the average spread remains at 0.2 pips.
Aside from good trading conditions for indices, I find that this broker has very good welcome bonus of100%. I have started my stp account with smaller amount of $500 and after initial deposit I havereceived additional $500 for trading as a welcome bonus. Although I can use leverage, still I find thatbonus is great support to my initial capital. I find that this broker indeed supports minimal costs for trading. Since I am scalper, low costs are one of my first requirements when picking a broker. Here is have $1.0 on round lot and very small spreads, around 0.01 pips on eurusd, There are no other trading costs.
Even in the unlikely event that the broker suffers a financial crisis and goes bankrupt, it still can’t use the segregated client funds to offset its debts. Turnkey Forex offers two Partnership options in the form of the Introducing Broker Program and an Affiliate Option. With a minimum deposit of $5 a micro account can be opened. Ethereum (ETH) is the second largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform. Turnkey Forex does not at this time (2023) offer a Sign-Up Bonus, Welcome bonus, or the advantage/profits of a no-deposit bonus with first-time sign-up or account registration.
Turnkey Review : Account Types and Trading conditions
This includes CFDs on forex, commodities, indices and some cryptos. The broker has low spreads starting from just 0.0 pips and commission fees from $1. This is great for anyone who is planning on using automated scalping systems on the MetaTrader platforms such as myself. My only concern would be the lack of regulation which we will look at in the next section. Turnkey allows a minimum trade size of 0.01 lots & a maximum of 100 lots.
The EA provided by the broker is fully customized depending upon the answers that traders give to the questions asked for selecting the EA. Upon seeing the funds deposited by the trader, the EA will automatically trade on his/her behalf. It is possible to track the performance of the EA, but the trader needs to be very careful and factor in all the possible risks of trading with an automated system.
BTC on ECN
I recommend this broker because they are quite versatile and accomodate most traders. Besides Mt4 and Mt5 this broker also offers has a Web Trader with most of the necessary charting tools. Just switched from demo account to live trading with Turnkeyforex, a month before. Have just made one withdrawal till date, which was quite swiftly done.
Perhaps one of the main benefits of joining one of the two platforms above is that most forex brokers offer them. So, even if you decide to try another broker, you do not need to learn how turnkey broker to use a new platform. As mentioned, MetaTrader is one of the most popular and most advanced platforms in the world. Turnkeyforex gives the option of paying with card and cryptocurrecnies.
Live chat and withdrawal speed
The subscription fee depends on the speed and the power of the server that you opt for. I have a dedicated Forex VPS form a third-party provider and find it to be an invaluable tool for running my automated systems around the clock. This way I can compare performance and trading conditions on multiple brokers simultaneously.
It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation. A regulated broker equals a more responsible https://www.xcritical.com/ trading environment. Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device,
anytime and anywhere you want.
Turnkey Forex Trading Platforms
Since I am quite satisfied with conditions, I think that I will certainly stay for some time here. There are several good points which I prefer with this broker. For me it was very good option that there is a btc based account.
The included code editor allows users to create custom indicators based on their needs. EAs can be used to automate trades, and multiple automated strategies can be run simultaneously. Headquartered in London, Turnkey Forex has over 60,000 clients, from over 150 countries. The broker only streams raw spreads from 20 tier-I banks to the traders’ platforms via its ECN network.
Metatrader 4 Key Features
Withdrawals are also processed quickly – within the same day or a maximum of two working days, depending on which payment method you choose. Similar to MetaTrader, it is fully customizable, so you can see live risk reports, prices, combine charts, and many more. Both platforms are available as downloadable software, via your browser (WebTrader), or as a mobile phone app.
The minimum deposit amount required to register a Turnkey Forex Professional live trading account is $10 USD. My story is that I love forex and have traded it for several years. However, I took a good full time job which takes a lot of my time during the day, so I had to quit trading. But, a friend recommended me this broker, since he has a managed account, with solid monthly returns. Despite that I know the such accounts have some risks, I have placed some smaller amount, just to try it. For the last three months, I am satisfied with returns, as they range within my trading average.
responses to “Turnkey Forex”
The subscription fee depends on the speed and power of the server. Using two EAs for my forex trades have helped me in maintaining balance. One of my EAs is for day trading and short trades and the aim is to make money in the short term. This second EA is for long term strategy and it is to make money in the long term.