| Forex broker | |
|---|---|
| Official website | |
| Social network | |
| Date of foundation | 1970 |
| Head Office | First Floor, First St. Vincent Bank Ltd Building. James Street, Kingstown. St. Vincent and the Grenadines |
| Company owner | Turbo Enterprises Ltd. |
| Types of support | [email protected]Callback from the website |
| Phone Support | |
| Languages | Russian, English, Spanish, Portuguese, Turkish, Chinese, Vietnamese, Thai, Arabic |
| Terminals | MetaTrader 4, WebTrader |
| Min. first deposit | From 248 USD |
| Brokerage commission | No commission for Forex and Commodities, from $5 per lot for indices and stocks (depends on account) |
| Lot size | From 0.01 to 60 |
| Leverage | Until 1:500Depends on the account |
| Spreads | Floating from 0.5 pips, fixed from 3 pips |
| Free demo account | |
| Adjustable | Yes |
| Regulators | CRRFNo. CRF RU 0395 AA Vv0138 |
| Types of accounts | Demo, Mini, Standard, Premium, Fixed, InterBank |
| Margin call / Stop out | From 40%/10%, depending on account type |
| Transaction volume | 0.01 lot |
| Order execution | Instant Execution (precise execution), Market Execution (at market price) |
| Methods of replenishment | Neteller, Skrill, Sofort, Webmoney, Bank card (Visa/MC) |
| Withdrawal methods | Neteller, Skrill, Sofort, Webmoney, Bank card (Visa/MC) |
| Number of assets | 60+ |
| Types of assets | Currency pairs Indexes Precious metals Stocks Products |
| Account Currencies | USD |
| Mobile apps | |
| Weekend trading | Yes |
| Tournaments/competitions | No |
| Trader training | Free video courses, webinars |
| Contract Difference Commission | Yes |
| Swaps | Yes |
| PAMM trading | Social Trading Program |
| Analytics | Economic calendar and forecasts |
| Margin trading | Yes |
| Affiliate Program | Registration15% from the first deposit of attracted customers |
| Advantages | Stability and reliability of the company Training materials and analytics Social Trading System Fast execution of transactions Automated trading advisors Hedging and scalping No problem with the withdrawal of earnings |
| Disadvantages | High spreads High threshold for entry Slips and delays in terminal operation |
| Company requisites | Legal name: Turbo Enterprises Ltd. Legal address: First Floor, First St. Vincent Bank Ltd Building. James Street, Kingstown. St. Vincent and the Grenadines |
| Date of update | January 29, 2023 |
| Overall assessment | 0/10 |
TurboForex is this a scam? Review and Customers Reviews
TurboForex is a fast-growing broker, successfully operating on the international market since 2007. For this time the company has managed to gain its users’ trust. It has a large base of traders worldwide and offers trading in currencies, derivatives for goods, stocks as well as international indices. In many respects the secret of its success is in a team of professionals who know their business and understand the needs of the trader.
Of course, you’d like to know whether TurboForex is a scam or it’s a worthy company, enabling you to achieve a lot in Forex trading. You will get the answer here below.
TurboForex is a fairly progressive broker with a client-oriented policy. It’s actively developing in the international market. It’s a young company compared to the market leaders, but it has something to offer its users. One of the key objectives of the broker is the provision of the most favorable conditions as well as advanced technologies that enable its clients to earn a decent income in the foreign exchange market.
Special attention is paid to professional technical support, available to the clients 24/5. The company does its best to ensure maximum customer convenience, regardless of the size of the deposit. Among the key advantages of the Forex broker we should mention low spreads, instant execution of deals, no restrictions on trade (hedging, advisors, there’s no a strict minimum for opening and closing price differences), lots of interesting promotions and bonuses that make trading more profitable. For trading, the broker offers a reliable and well-proven terminal Metatrader 4, available to the trader on all devices (PCs, smartphones). Both newcomers and professionals can conveniently use this trading terminal. It provides advanced options for trading and analyzing the market situation.
Moreover, you can use a very convenient service of copying Turbo Forex Social transactions. Thus, you can receive income, relying on the experience of professionals. For newcomers the company offers good opportunities for training (webinars, video lessons). Beginners can also take advantage of a free video course, explaining the principles of trading in the Forex market, the rules of working with capital and using the MT4 terminal (truth about Forex). It will also give them a glimpse at up-to-date trading strategies. Traders can also utilize such crucial tools as the economic calendar and daily market forecasts.
Replenishment and withdrawal of funds
TurboForex offers different ways of replenishment and withdrawal of funds. To replenish your trading account you need to go through the registration procedure with the broker, deposit the desired amount, choosing a convenient way of transferring funds (the minimum deposit is $250). To deposit funds to your trading account you can make use of modern payment systems:
- Electronic payment systems (QIWI, NETELLER, WebMoney, LiqPay, AlfaClock, Yandex Money);
- Bank transfers;
- Credit and debit cards (MasterCard, VISA).
You can open your trading account only in US dollars. Immediately after the payment, funds are available on the deposit. The withdrawal of funds is possible only for authorized traders. The procedure takes up to 3 working days. By the way, there’s no commission for withdrawal and replenishment of funds.
Complaints about TurboForex
The Internet presents a variety of reviews about the broker. We see that positive reviews dominate and it positively characterizes the company. In their reviews traders tell that it’s a stable and reliable Forex broker, providing an excellent base for training, including webinars and analytics. They add that the broker has a convenient system of social trading and ensures good execution of deals. Other benefits include high quality trading signals, advisors, hedging, scalping, helpful personal managers. It’s not a problem to withdraw funds here (it takes no more than 3 days). It’s no wonder a lot of traders recommend this broker for Forex trading.
However, the Internet also offers enough negative reviews. As usual, people complaint about large spreads, large deposits, incompetent managers and issues with the trading terminal (slippage, delays, freezes). Others point to the problematic withdrawal of funds. To avoid problems when working with the broker, you need to verify the trading account. You should ask your personal manager about the nuances and pitfalls of using bonuses. Learn as much as you can about the withdrawal procedure.
Is TurboForex a scam?
Despite the broker is one of the youngest companies in the Forex market, for the whole time of its work it has already managed to achieve good results, get prestigious awards and many positive estimates. Today the company successfully works with traders throughout the world, offering top-notch services and up-to-date trading opportunities. Positive comments indicate that the company is on the right path of development. The Internet also has negative feedback about the company. Unfortunately, we haven’t seen any representatives of the company working with the negative reviews. We hope the company will catch up with it, as it’s crucial to learn the clients’ attitude to the services provided to timely fix glitches.
The broker offers favorable trading conditions, expanded opportunities for work, enabling traders to get a decent income. The organization has a license, many useful options (round-the-clock support, an ability to copy transactions, a reliable trading terminal MT4, etc.) – all of this backs the company’s credibility and proves that it’s not a one-day broker. Making its primary task to provide top-notch services and successfully implementing it, the broker proves it’s a serious organization. Traders also appreciate the company’s official website, bonuses, various accounts, training opportunities, analytics – all of this indicates a thoughtful policy of working with the user, which is not typical to scams.
Should we call this company a scam? At this stage of the company’s development, we should certainly say – no! Despite a certain number of negative reviews, we see that traders mostly praise the company, pointing to such pluses as the availability of the license, awards and favorable terms of trade. We also hope that the company will manage to cope with all the negative nuances and drastically improve its services. To avoid problems when working with the broker, take some time to consult your personal manager, specifying all the necessary information about the rules of trade the use of bonuses and the withdrawal procedure.
Regulation of TurboForex
The head office of the broker is located in New Zealand. The company is on the register of the Financial Service Provider Register (New Zealand, No. FSP332266), which gives it the right to operate in the country (however, today, according to the regulator’s website, the license is suspended, the information is specified). Additionally, the broker is a member of the FDRS (the Financial Dispute Resolution Service, New Zealand).
Bonuses of TurboForex
Each trader of the company can receive 2 types of bonuses:
1) A 100% bonus on the trading account
You can get a 100% bonus each time you replenish your trading account. To participate in the promotion, you should replenish your trading account and the bonus funds will be credited automatically. The bonus can be withdrawn on the condition of the minimum volume of trade. You’d better specify the conditions for granting the bonus with your personal manager.
2) Trade points for the transaction
You can receive trading points for each trade. These points can be used for purchases at the TurboForex store or for converting the bonus into your trading balance. You should specify the terms of the promotion with the personal manager.
Conclusion
The Forex broker TurboForex is a young, but dynamic and already quite successful company that provides its customers with top-notch services. The constant search for unique solutions, favorable conditions, prestigious awards, round-the-clock support, great opportunities for beginners and professional traders – all this speaks for an impressive amount of work carried out. The broker is licensed. It has a lot of positive reviews (they have to do with the training program, analytics, technical support, etc.) and grateful recommendations from the clients. Of course, there are also negative reviews about the company on the Internet and the company’s representatives haven’t been seen working with negative feedback.
We should note that TurboForex successfully proves its stability and reliability. It has many advantages and this fact gives grounds to conclude today that it’s not a fraudulent company specially created to deceive traders. The traders’ responses we are waiting for this article will influence the rating of the broker on our website. This feedback will also warn people against possible trading problems in the future.
Reviews
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Rate your review 00This company no longer exists, here is...
This company no longer exists, here is a link to the current rating of forex brokers – https://eto-razvod.ru/forex-brokers/
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Rate your review 00I would like to share with you...
I would like to share with you my story of losing a large sum of money, namely ($27,000), from those freaks TurboForex!!! Special thanks to my analyst Alexander Konovalov, who drove me to hysteria. As I am very communicative, I have been telling this story to everyone I could, hoping that someone would… Read more
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Rate your review 000Fraudsters.ALL !!! trades set on the recommendation...
Fraudsters.ALL !!! trades set on the recommendation of the attached analyst turned out to be a complete drain on the account.Minimal pluses, purely my merit, which did not save. I tried to do Chargeback, took a printout of Gazprom, it turned out that transfers, as I thought, which go through the site… Read more
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Rate your review 000Turbo Forex are just crooks. They just...
Turbo Forex are just crooks. They just won’t let you withdraw your money. They will start making up new rules and convince you that you owe them more. I would never advise anyone to do business with them.
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Rate your review 000Broker medium, there are + and -...
Broker medium, there are + and – he has, with + we can mention MT4, 1-2 days withdrawal, free analytics and forecasts, license to operate in the Russian Federation, with a – starting amount of 250, sometimes the news are slipping by 10-15 pips, no Pamm accounts.
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Rate your review 000The broker turboforex is reliable, I've been...
The broker turboforex is reliable, I’ve been working with it for a few months now. Everything with this company is simple and straightforward. Of course, no one will trade for you but they will help you for sure. I have been working with this company since I was a trader and I am fully aware that my… Read more
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Rate your review 000I wanted to leave a review about...
I wanted to leave a review about turboforex a long time ago and thank them for the quality services they provide. I personally had different situations with the broker both good and not so good. I even raised my voice to the manager once but I had to apologize later because I was wrong. The main thing… Read more
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Rate your review 000In the month before last I signed...
In the month before last I signed up with TF, and only because they suggested me to start with a small amount of $200. I began by saying that I liked it: now my deposit is in profit (I read that many brokers lose beginners, and they do not even understand what happened because of the lack of experience)… Read more
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Rate your review 000Turboforex swindlers, all in debt, promised that...
Turboforex swindlers, all in debt, promised that I will help. took a microloan, the minimum is 250 dollars. Vex… The manager did not call anymore. cache was not, tech support is silent. And the online chat is just like an answering machine. basically says the same thing. about the queues and technical… Read more
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Rate your review 000I started trading with this broker last...
I started trading with this broker last year. And you know what, in principle, a good broker:
1) Once I got caught on a stop-loss candle with a long shadow against the open position. The money was returned.
2) With the withdrawal of the money did not have any problems. If you do not know how to use our… Read more -
Rate your review 000I read a lot of reviews, it's...
I read a lot of reviews, it’s good that after half a year trading with TF … A lot of negativity, especially regarding the withdrawal of funds (or rather problems with withdrawal). They are very sensitive to withdrawal problems, we are unaware of any problem with withdrawal. At most 3 days waited. Good… Read more
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Rate your review 000Another complaint has arrived, writes Anatoly Vladimirovich...
Another complaint has arrived, writes Anatoly Vladimirovich Popov from [email protected].
TurboForex does not withdraw funds
I got acquainted with the company Turboforex at the end of 2015. My account number is 16698797… Read more
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Rate your review 000The company TurboForex swindlers! The analyst of...
The company TurboForex swindlers! The analyst of the company turboferex, Vladislav Petrov completely drained my deposit of $ 5000.
This is the worst broker you can find, managers and analysts are machines, the only purpose of which is to swindle as much money as possible and drain them as soon as they… Read more
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