TurboForex Review

TurboForex
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Overview

A fast-growing Forex broker successfully operates on the international market, offering high quality services and profitable trading conditions.

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Details

BrokerTurboForex
Website URLturboforex.com
Founded2007
Headquarters20-22 Munroe Street, Napier, 4140, New Zealand
Support Number+7-495-480-88-88
Support TypesChat, phone (including free callback from the site), e-mail
Minimum 1st Deposit$250
Minimum Trade Amount$1
BonusBonus up to 100%
Leverage1:500
Spreadfrom 0.5 points
Free Demo Account Open Demo
Regulated Yes
RegulationCROFR (No. of the FRC RU 0395 AA Vv0110)
Account TypesDemo, Mini, Standard, Premium, Fixed, InterBank, SIGNAL TRADER
Deposit MethodsBank transfers, debit and credit cards VISA, MasterCard, QIWI, NETELLER, WebMoney, LiqPay, AlfaClock, Yandex Money
Withdrawal MethodsBank transfers, debit and credit cards VISA, MasterCard, QIWI, NETELLER, WebMoney, LiqPay, AlfaClock, Yandex Money
Number of Assets60+
Types of AssetsForex, currency, metals, CFD for indices, commodities and stocks
Account CurrencyUSD
US Traders Allowed No
Mobile Trading Yes
Overall Score3/10

Full Review


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.

If we find complaints about TurboForex, we will post it on social media. Follow us to be well informed:

 

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).

Check the license of the CROFR on TurboForex website

 

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.

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