The TurboForex broker is established in New Zealand. Their regulation is done by the Financial Disputes Resolution Scheme. They make a number of claims and offers which are attractive however we advise you not to register with this broker until you have read our TurboForex review.
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TurboForex Customer Support Review
The TurboForex broker offers customer support through live chat, email, telephone and even provides a call back service.
However the problem is that once you have registered with them and deposited your money, you practically never back from them again.
It seems TurboForex’s opinion of their clients is an extremely low one.
One example of their poor customer service is their live chat. The purpose of the live chat is to get quick responses however once you have become an account holder; it takes them hour to answer your instant message which defeats the purpose of the live chat.
Another example of their blatant disregard for their clients is that they never actually call you back. No matter how many times you request a call back, you never actually hear from them.
Not only are they unresponsive but when you do hear from them, their support team are not actually up to date with company information therefore leaving you more confused than before.
TurboForex Review of the Accounts
The TurboForex broker offers five different account types.
Mini
- USD Currency for deposit
- Minimum deposit $250
- No Commission
- Market Execution
- Spread of 2 pip
- Max Leverage of 1:500
- Minimum order volume of 0.01 lot
- Max order volume 60 lots
- Minimum step volume 0.01
- Stop out of 10%
- Bonus
- Unlimited Mt4 History
Standard
-
- USD Currency for deposit
- Minimum deposit $1000
- No Commission
- Market Execution
- Spread of 1 pip
- Max Leverage of 1:500
- Minimum order volume of 0.01 lot
- Max order volume 60 lots
- Minimum step volume 0.01
- Stop out of 20%
- Bonus
Unlimited Mt4 History
Premium
- USD Currency for deposit
- Minimum deposit $10,000
- No Commission
- Market Execution
- Spread of 0.5 pip
- Max Leverage of 1:500
- Minimum order volume of 0.01 lot
- Max order volume 60 lots
- Minimum step volume 0.01
- Stop out of 20%
- Bonus
- Unlimited Mt4 History
Fixed
- USD Currency for deposit
- Minimum deposit $1000
- No Commission
- Instant Execution
- Spread of 3 pip
- Max Leverage of 1:500
- Minimum order volume of 0.01 lot
- Max order volume 60 lots
- Minimum step volume 0.01
- Stop out of 20%
- Bonus
- Unlimited Mt4 History
InterBank
- USD Currency for deposit
- Minimum deposit $5000
- Commision
- Instant Execution
- Spread of 0 pip
- Max Leverage of 1:200
- Minimum order volume of 0.01 lot
- Max order volume 60 lots
- Minimum step volume 0.01
- Stop out of 40%
- Bonus
- Unlimited Mt4 History
Signal Trader
- Deposit currency is USD
- Access to the MT4, Webtrader and Mobile/Trading Trading
- Spreads from variable to 3 pip
- Max Leverage of 1:100
- Trading instruments – forex, indices, commodities and share CFDs
- Market execution
- Minimum deposit of $2000
- Minimum order volume of 0.1 lot
- Minim step volume of 0.01
- Maximum order volume of 60 lots
- Maximum open trades of 300
- Margin call of 150%
- Stop out of 100%
- Expert advisers are allowed
- No commission for Forex and Commodities, $15 per lot for Indexes and Stocks SFDs
- No bonuses applicable
TurboForex Platform Overview
The TurboForex forex broker uses the MT4 platform for trading. They have it optimized for web, desktop, mobile phones and tablets. This is supposed to make things easier for you and enable you to trade from anywhere once you have a good internet connection.
Sadly that’s not the case. The TurboForex broker’s platform is embarrassingly slow. This is made worse by the fact that they are using the MT4 platform which is known for its speed. Unfortunately with the TurboForex forex broker, the MT4 platform performs poorly.
Not only does it move extremely slowly but it is very unstable and can become disconnected at any moment. This instability will affect your trades thus causing you to lose.
You do not want to take this kind of risk.
Avoid the TurboForex broker.
TurboForex Review Conclusion
All things considered, TurboForex is merely claiming to be a reputable broker without any actual actions to support this. While they are indeed regulated, TurboForex is closer to a scam than a reputable broker. Avoid them at all costs.
Choose a good broker from our compare Forex brokers table!
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