Is Turnkey Forex a scam or legit broker?

Turnkey Forex is suspected to be a scam broker as it is an offshore company. TurnKey Forex is a registered trading name of TurnKey Forex Limited and as stated on the website headquarters in Mauritius.

Mauritius is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial establish capital which is usually not more than $2,000, to pay a fee, and within a 2-3 month, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers.

Turnkey Forex provides a trading opportunity on STP/ ECN execution model (Check ECN Brokers) to trade 85 currency pairs, CFDs on commodities, ETFs, indices, and shares.

About Turnkey Forex
🗺️ Registered inMauritius
🗺️ Type of LicenseOffshore License
🛡️ Is Turnkey Forex safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

The company claims to be a technology-driven broker, which enters into liquidation and availability to trade through APIs, Robots along with the VPS hosting for better results and other attractive, sophisticated tools. Moreover, the company seems to be extremely customer-oriented with attractive trading costs as well as employed supportive levels through delivered value with no sales culture or commitment to the safety of funds.

Although the proposals may seem compatible, brokers of the self-regulatory nature more often target clients outside of the UK, pretending to be reliable and well-established companies. This means it is better to avoid brokers like this, as there is a significant risk that may affect investors in a bad manner even if the operation seems to be a reliable one.

Rather than putting capital at risk, as well as overall trading experience, it is much better to choose among the companies that have a proven history of compliance with their registered license of reputable authorities. 


Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and Eightcap.

You can also share your trading experience with Turnkey Forex by commenting on this review.

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53 responses to “Turnkey Forex”

  1. Turnkey used to be a great place to trade. Recently in June I funded an account with $500. I ran that account and a second account up $40k plus in total equity. I requested 4 withdrawals for a total of $24,000. Those withdrawals took more then a week to receive (keep in mind they quote you 48 hours for processing) and on top of them being late, all of them were short. They never sent the full amount, each withdrawal was short between $70 and $400. The last $16k I put in for withdrawal on Monday 7/6/2020. From 7/8/2020 I requested to know when they will process my requests. They (Barry, Anthony, Support Team) told me, every day ( sometimes twice a day) they have escalated my issue to be processed by the end of they day. Every single day 1 to 2 times a day I would inquire about my withdrawal issue. Almost two weeks later I am still without my withdrawal. I also have fellow traders who are also waiting on withdrawals that are one week to two weeks late. I have screen shots of everything from my deposits, to the lies they tell me about being processed, I have everything documented. I didn’t want to go anywhere and leave a bad review, but since they are scamming traders (or until I get my money), I need to help those who are looking for a good offshore broker to not go to Turnkey Forex. If they pay I will UPDATE this post only if they stop lying on their website.

  2. I have just started with Turnkey forex four months back. Traded for one month on their demo account. Also availed their 100% bonus offer, which helped me to leverage my account and trade extra and it’s withdrawable after conditions are being met. Spreads are fine, so are the other trading conditions. Haven’t faced any issue with the support. As far as withdrawals are concerned, I got mine in time, the broker didn’t take more than 24 hours for most of them. Overall, the journey has been quite satisfactory. Would recommend this broker too all.

  3. I have been a turnkeyforex client for 2 years now and i have only positive things to say about them.
    Order execution is good
    Support guys are very helpful.
    Withdrawals are processed smoothly.
    Good broker!

  4. Have tried various brokers, but turnkeyforex’s conditions have stayed unmatchable till date. The support never delays my queries, plus conditions are just right for scalpers like me. Must try!

  5. This broker is absolutely my favorite as their commission and spread are low and tight. Just recently, they added the crypto trading which is a great feature to this broker.

  6. There are a number of reasons I believe that this broker is good. First, the charts are very good for analysis, it is easy to find different technical tools for analysis. I trade with the fibonacci, trend line, 50 and 200 moving averages and some other line charts. Even after leaving the chart for a long time, the analysis still remains and I can easily know where I stopped with my analysis for the next day’s trades. Another major reason is the customer support. It has been eager to help every time needed. I asked questions about ea, and many other questions I had in mind then and I was answered properly. I have been grateful for this choice of broker. I started having the ea last month, no fear about the ea services yet.

  7. Got some bonuses for my first deposit, which was a good encouragement for me. I am new to trading and I seek to make money in the long term. I am trading for long term goals and I am not rushing to be a millionaire in the short term or having unrealistic expectations. I see turnkey as the broker to trust for such long term trades and since when I have started too, I have not tried to change my decision and this is simply because of the type of services I am getting here. I don’t think the broker is the most perfect broker in the world but I know they are good enough for me to trust them.

  8. Never faced any issues with them. I like to trade cryptos which I do on weekends while trading forex during the week. Conditions are worth in every market hour.

  9. The live chat is always active which is reallu great. The support team has helped me in a couple of cases and they also answer questions very fast. Withdrawing money is also the same day, so it is easy for me to withdraw when I need my money. The broker gives a platform to trade currency, indices, cryptocurrencies and commodities. I hope stock is added soon.

  10. Entering trades multiple times is easy to do because of the high spreads and instant trade execution. Easy to diversify portfolio with the currency, commodities, indices and cryptocurrency diversification

  11. The broker is a round broker. I am saying this because it has currency pairs, indices, cryptocurrency, and commodities. Traders can choose whichever they are comfortable with to trade. This is an exception for those who are interested in stocks trading because Turnkeyforex does not allow stock trading. Turnkey forex charges very low commissions which is not typical of brokers that have many services.
    I like the mode of withdrawal and deposit. The broker does not accept debit cards but accepts cryptocurrencies and some internet wallets. I deposit and withdraw with bitcoin. It is also possible to start trading immediately one registers because there is no need for verification before depositing money to the broker with crypto

  12. Been using them on and off for almost three years. Use this broker if you are into quick scalping, their trading conditions are made for that.

  13. Honestly speaking, I never thought scalping was my thing but turnkeyforex’s low spreads, fast order execution & low commission charges made me start and rolling good till now.

  14. It is quite a good broker for newbies like me. The execution speed is quite fast. With paid VPS, executions are pretty quick, so it’s possible to use EA here. Spreads are a bit low, although not as low as you might imagine. However, it’s still at par with the industry’s average, with EUR/USD spreads is quite tight. I chose leverage of 1:500 because, even with a low deposit, I can maximize my profits.

  15. Decided to give them a try after reading this. Deposited $200 just to be safe, and only traded on gbpusd – was blown by how tight and low spreads were. Didn’t expect it from this type of broker. Definitely recommending this broker for trading.

  16. Robots work on the Turnkey platform. I have used my robots here and they worked the way they should.

    Deposit and withdrawal are also fast, so far, I have not had issues with making deposit or withdrawal on this platform. Anyway, I also like the cryptocurrency deposit option. I don’t think the broker accepts debit cards, which might be a little stressful for those that do not have cryptocurrencies or VLoad account. It is common for brokers that accept cryptocurrencies to have fast withdrawals and Turnkey has also not disappointed with that.

    The broker also provides VPS at a price. I use the silver VPS package and it works for the functions I want. I will write other comments about my experience here as time goes on

  17. Free demo account that is also suitable for all styles. I test my strategies using it. The only issues I have had with the demo was when I placed trades for a whole day and made about 10% profit that same day, but when I was discussing it with my brother at night I discovered that all the trades I placed that day were on demo account. I was very pained and had to delete it then. I still had to download the demo account again because I use it to test strategies, but I was very careful not to make the same mistakes again

  18. Very low slippages during news releases, I use two brokers to trade forex but when it comes to trading news, I stay with turnkey because I have had good news trading results here. I am working on getting a robot that works for news too.

  19. I just registered to be a PAMM trader. I have had consistent trading results for a long time and I was found worthy due to my consistency. I am also using this as my first step to my dream of becoming a proprietary trader. Trading is helping me to achieve my dreams and I know I can’t exclude my broker also from my success story

  20. The platform has effective customisations that makes me navigate around easily. The tools seem easy to use for beginners and avanced traders and I think many traderss will do well here.

  21. VPS is available to enhance the functioning of expert advisors. The VPS come in different packages, It has the silver, gold, platinum packages. I stopped subscribing for VPS when my trading balance was up to $5000. The VPS is consistent in its working and triggers many trades even when I am offline.

  22. It is one of the few forex brokers that I have found having cryptocurrency base currency options. It also has cryptocurrency for trading but only as CFDs, we do not get to store crypto assets

  23. Many ways to make money here. The PAMM program is one way, manual trading is one and using robots is also one. There are also different assets like forex, crypto, indices and commodities

  24. I have been trading 100GBP and US30USD for indices stocks. I also trade cryptocurrencies and forex with the same broker. Not making plenty of money yet but I am growing and getting better

  25. It gives a high leverage of up to 1:500 with a generally low trading cost. I prefer brokers that offer high leverage because I get to make more money. I prefer to use my stop loss to control my risk management instead of reducing leverage. High leverage is usually a big advantage during scalping especially when the market is highly volatile

  26. With the 100% bonus my initial deposit got doubled and it put me in a good position to use good lot sizes and wider stop losses. I have not made a huge withdrawal since I started but the little ones I have made have been granted within a few hours. Support replies well too

  27. It has 66 currency pairs that contain major, minor and exotic currencies. Easy to trade forex flexibly because of the number. The broker also provides cryptocurrency CFD, indices and commodities for trading

  28. The customer support has been impressive. I chatted them up twice last week and their replies were fast and prompt. The trading conditions are okay for me for now

  29. The spreads are tight here. The spreads for the standard account are tighter than the industry’s average for a standard account. Trading with Turnkeyforex ensures that I make the most of trading opportunities and profit from every trade because I do not have to pay for big spread first

  30. When I place a trade on GBPUSD 1.320 for example, the trade executes at the exact point and this is contrary to what I used to have with my former broker that might execute the trade around 1.323. Turnkeyforex is a good choice for day traders

  31. I find that there are solid conditions for trading forex on ecn account with this broker. Fees are indeed very low, so that has substantially increased my profitability. There are 0 spreads on ecn, while there is only low commission of $1 per lot. This broker also allows mini lots of 0.01, which is good fit to my trading strategy. Hedging is also quite supported here, while I am also able to use leverage of 500:1. Honest broker in my opinion.

  32. The support agents reply properly and I like the way they respond. I just want to make a recommendation that the broker should also make them available on weekends. When I chat support on Sundays I do not get replies till Mondays. Overall I like the trading services here. This is my 7th month of trading here. I only wish support can be available on Sundays too

  33. Withdrawing is easy , I get to withdraw my money anytime, sometimes I withdraw up to 2 and 3 times in a week succesffuly. I recommend trading here

  34. My results with trading NFP, FOMC, CAD news and some other high impact news became better when I got here. Many brokers manipulate charts and do stop loss hunt in order to make traders lose money. Such bad trait are minimal on this platform. The tight spread are also maintained during news releases

  35. nice broker with tight spreads, withdrawal takes 1-2 days, it’s not so good, hope they will do it faster. supprot team is quite helpful

  36. I find that this is fair broker when it comes to trading crypto currencies. Conditions for cryptos are almost equal to trading fiat currencies, which is, in my opinion, rare to see among brokers. Here cryptos can be traded also through an ecn account, with same fees of 1$ per traded lot. Mini lots are supported. However, there are spreads for crypto coins on ecn account, but they are indeed tight. It is rare to find that spreads on altcoins are less than 1 pip. Still, during times of higher volatility, they can range within only few pips, but it is not at all high for cryptos. Of course, BTC is a bit higher, ranges between 10-15 pips, but again, for me it is much lower compared with my previous broker, who was charging me with 50-100 pips for btc. For last three months I didnt experienced any issue with this broker, which is quite positive. Withdrawals on btc wallet are allowed, but what I would like to see in the future is option to connect my btc wallet directly to my trading account. That would save me time and some money for funds transfers.

  37. news trading is the source of my passive income. I do not spend a long before that charts again, I just wait for a time when the news would be released and scalp. Thanks for the low latency and fast order filling, they have been hepful

  38. The platform is easy to use for advanced traders and beginner traders. The customization is easy to understand and I appreciate that about the broker. This is the same for the website and the trading app. Deposit is instant and withdrawal is also the same day. The spreads do not get unncessarily bigger during high volatile events and it is also a driving point for me

  39. A friend recommended the broker as a solution to the high price problems that I have with many brokers I have been using. Truly, the amount charged here is very low. Withdrawal is free and deposit is also free. Charging $1 for $100,000 traded volume is very small.
    The demo account is okay and I took my time to compare the trade results with the live account and I noticed that the demo account has the same features as the live account. I stopped trusting the demo accounts some years ago when a broker I was trading with then manipulated my demo trade results to make me make profit, making me wrongly believe that I was very good. I have seen a couple of brokers do that too. Kind of surprised that Turnkeyforex provides a reliable demo account but it also strengthened my confidence in the broker to believe that the reliable services will cut across different aspects of the platform

  40. The execution is fast and that was one of the first things I noticed when I started to trade. The whole thing even became ultra-fast when I started to use VPS. The speed help me a lot, and my day trading strategy became more effective because my trades execute with reduced latency

  41. My first encounter with Turnkeyfrex website was in January last year. The website looks simple and it made me think that the broker would not be a serious one. I check the website out based on the online reviews I got. I reluctantly opened an account and made a little deposit. The rest is story. The spreads are tight! and the profit I started getting from trades is more than what I was getting where I was before with a difference of $1 to $2. I also used to think that every broker takes days to grant withdrawal until I also saw the Turnkeyforex grants withdrawal within hours on the same day of making the request. It made me conclude that Turnkeyforex is the first professional broker I have had; the formers ones are only platforms that are trying to catch up with the standard

  42. If the good trading features I am noticing continues for some months more, I will make more deposits. So far I think I am enjoying the services. The analytical tools connect well with the charts and they don’t get disorganised when I change from one timeframe to another

  43. Turnkey Forex scammed me. I was a customer of Turnkey Forex and built a lot of equity totaling over four hundred thousand dollars through my trades and when i decided to withdraw my funds they did not pay it out and to this day i’m still owed hundreds of thousands of dollars by this scam broker. They are seasoned crooks and it’s my mission to expose them for what they are and shut them down. My case will also be taken to the regulated bodies and authorities and i urge people to stay away from this broker cause they are up to no good.

  44. It is easy to make complaints because of the 24 hours live chat services. No issues so far. Please keep up the good work

  45. From executions with no delays, no requotes and no rejects, turnkey forex outperforms the other brokers I’ve worked with. As a scalper, these attractive trading conditions make trading an enjoyable experience. I’ve been using their services for a couple of months now and I have no regrets

  46. VPS is available and it works well. It makes my EA stay online for 24 hours and also makes my execution ultra fast. Since I started using a VPS, news trading results have been better since there is minimal slippage and faster execution

  47. Turnkey is the best broker for indices, there are only a few brokers that let you trade with this type of leverage (x500) and Turnkey is one of them!

  48. It’s hard to believe that the entire platform is free. It’s even harder to believe that they are willing to pay out any amount of money that you have on your account in Bitcoin. I have never seen such a thing before and I’m really happy about it!

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