Turnkey Forex is an offshore broker. Turnkey Forex offers over 70+ forex currency pairs, commodities, indices, cryptocurrencies, gold and silver for personal investment and trading options. They provide the MT4 trading platform for traders.
Is Turnkey Forex Regulated?
The regulatory status of a broker says a lot about a broker, Turnkey Forex is the registered trading name of Turnkey Forex Limited and it is stated on their website that their headquarters is situated in Mauritius.
Mauritius is the easiest place to get licensed as a brokerage platform. Mauritius only require the company to register online, prove initial established capital which is usually not more than $2000, pay a registrar]tion fee and within 2-3 month, the broker is crisp and licensed. The ease associated with registering in Mauritius has made lots of brokers with ill intentions go there for registration just to appear registered.
In America and other European countries, for instance, the regulatory authority in charge has lots of regulatory requirements for forex brokers to fulfil. For Finacial Conduct Authority (FCA) in the United Kingdom, for instance, forex brokers are required to have segregated bank accounts for client money, a 1 million GBP minimum capital and a swift withdrawal process. The regulatory body also provides a 50,000 GBP compensation scheme to shield traders against broker-related matters. All these are not available in Mauritius, a broker that is registered in this region is more or less not regulated.
Trade with brokers with reputable regulatory status to ensure the safety and insurance of your funds. We advise you to stay away from brokers with a regulatory status similar to this.
Available trading software are;
TurnKey trading platform choice is amazing. They provided MetaTrade4, MetaTrade5, a web trader and an Act Trader. If the choice of trading platform is the only criteria in deciding the integrity of a broker, Turnkey would have been a great choice, but there’s always a regulatory issue to bear in mind.
- Turnkey Forex MT4 – MetaTrader 4 Platform
Turnkey Forex MT4 is a standard MT4 platform providing trading on all assets, variable spreads, customizable trading charts and analysis, a copy trading system, and alerts on market updates. Clients can open up to 10 charts simultaneously, and there’s an app to be used on Android or iOS mobile devices.
- About Act Trader Trading Platform
Act Trader is another trading platform competing with MetaTrader for the best platform. However, not many people have heard about it yet. The trader can be used on desktops (both Windows and Mac) and any mobile device. It’s a bit simpler than MT4 and easier to navigate, yet it has fewer charts and indicators. If you have no previous trading experience, this might not be a bad starting point.
- Turnkey Forex MT4/MT5 Mobile App – iOS and Android Trading
The mobile trading app is a MetaTrader app that clients can download directly from its website and use their credentials to log in. There’s also the Act Trader app, and all of them are available for both iOS and Android. Most of the features are the same as desktop platforms, just more convenient to use.
Turnkey regulatory status seems to be the only thing raising our suspicion about the broker because all other factors indicate that they are a serious broker. Since your funds are at risk with this broker you should be careful about trading with them.
How to get your money from a fraudulent forex broker
Losing money to forex brokers can be devastating. Financial security measures are now put in place by Banks and Financial service providers to aid the recovery of funds lost to scams online. If you were defrauded by a broker you should go to your bank and submit a chargeback request. A chargeback is the reversal of money transferred to a fraudulent entity. You will have to submit evidence to your bank to prove to them that you were scammed by the broker you invested in. A chargeback process can be tedious and most times not straightforward for ordinary people. This is why it is advised to hire a Financial assistant or a Fund Recovery Expert to help during the chargeback process. For a chargeback to be approved, you have to convince your bank with evidence that you were scammed by the organisation you sent the money to.
Go to Duolabs today to hire a Professional Fund Recovery Expert. Duolabs is an online Recovery platform with various recovery experts for hire, ranging from Fund, Cryptocurrencies and Data. You will have to provide some evidence that will be submitted to the bank to prove that you were scammed, documents like terms of service, transaction receipt and many more that the Recovery expert dims fit. Speak with a Fund Recovery on Duolabs to know all necessary information you will need to provide for your chargeback to be successful and for full guidance doing the chargeback process.
Do Fund Recovery Expert Guarantee Success?
No, nothing in this world is guaranteed and this applies to the work of recovery experts also. Only a scam will give you a 100% guarantee in anything, there is always risks to whatever we do, although the Recovery Expert will do everything in its power to successfully recover the funds.
Usually, the success rate is rather high (about 85%) for the professional fund recovery experts but the firm may not offer any guarantee for such services to make you understand that there is risk in everything.