Established in 2008, TurboForex is an online trading broker that offers forex, indices, commodities, metals, and energy CFDs for trading via the desktop, web, and mobile trading platforms. The broker has competitive spreads starting from 0 pips on selected accounts, minimal requotes, and flexible leverage of up to 1:500.
The broker employs a hybrid model for executing orders, acting as a market maker for some of the trades. They claim to implement aggregating technology, which allows them to pass multiple small trades to a liquidity provider as a single chunk, thus, eliminating possible conflict of interest with clients.
TurboForex Review Introduction
In this TurboForex review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including TurboForex.
TurboForex Platforms & Tools
The broker provides traders with the MetaTrader 4 platform, which is used by millions of traders across the globe. It is widely known for its intuitive interface and plethora of useful trading tools. MT4 charts are packed with the leading indicators and tools that traders can rely on to analyze market opportunities.
The TurboForex MT4 platform is available in four different versions that can be accessed with a single user ID and password. The versions include Desktop Trader, WebTrader, Mobile Trader, and Tablet Trader. Traders can open a trade from the desktop platform, monitor its performance from the mobile trader, and close positions from the web traders, or vice versa.
TurboForex Research & Education
TurboForex provides clients with a good selection of educational materials that are aimed at improving traders’ overall trading skills and knowledge, as well as keeping them in the know about the factors that move the markets. These include regular webinars, video lessons, Economic Calendar, and more.
TurboForex Trading Accounts
The broker offers clients a vast range of trading account types to suit their trading needs. The account types are Mini, Standard, Premium, Fixed, and Interbank accounts. The minimum required deposits to operate an account ranges from just $250 for the Mini Account to $10,000 on the Premium Accounts. Leverage of up to 1:500 is available. There is a choice of fixed or variable spreads, as well as commission or non-commission accounts. The account types are available on the desktop, web, mobile, and tablet platforms.
Demo accounts are also available for clients to try out the broker’s different trading platforms and practice their different strategies before opening a real trading account.
TurboForex Account Funding
The broker offers a choice of different convenient account funding options, such as bank transfer, credit/debit card, WebMoney, Neteller, Skrill, and SOFORT. The various payment methods have different transaction processing time.
TurboForex Customer Service
The broker offers a customer support team that is very prompt in response. They are available 24/5 and can be reached via email only.
TurboForex is registered in Saint Vincent and the Grenadines. However, there is no regulatory information on the broker’s website at the moment.
TurboForex Review Summary
TurboForex is an online trading broker that has a basic offering of forex and CFD trading via the easy-to-use MetaTrader 4 platform, which is available on desktop, web, and mobile devices. There is a modest selection of educational materials.
It is worth mentioning that some of the trading products and services in this TurboForex review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the TurboForex broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.