In this section we will analyze the TurnFX broker, is a Forex, CFDs and Cryptocurrency broker. Is TurnFX really recommended to make an investment? Or is it better not to invest with this company? Is it a safe broker? Is a gotcha? We will help you determine it.
You may be wondering why we made a review on TurnFX… It is because we have received some messages from clients asking about the company, and we like to think that our reviews page helps investors, providing key information about the company, we disclose information that every investor should know before deciding or not, to invest with an investment company.
We do this review and assessment, because we receive different messages and comments asking about the reliability of the company in question. ¿Are you a representative of this company? Leave a comment responding to customer concerns.
Essential information: Who does it belong to? Where is located? Is it a regulated broker?
The broker mentions being part of: they don't mention it.
As to its location, The broker mentions being based in: Cyprus, Estonia, United Kingdom and Saint Vincent and the Grenadines, but in no case does it mention which company manages the website, so it is impossible to verify the locations.
If we analyze the regulation of the broker: since TurnFX does not mention absolutely anything about being a regulated broker, we believe that it is an unregulated broker.
If now we go on to analyze account types that TurnFX offers, we note that it offers 4 different account types; the Standard Account, the Silver Account, the Gold Account and the Platinum Account.
Standard Account- $ 500 minimum initial deposit, welcome bonus, personal junior assistant, 1 risk-free trade, individual training and signals.
Silver Account- $ 5.000 minimum initial deposit, 60% welcome bonus, personal executive assistant, 1 risk free trade, individual training and signals
Gold Account- $ 10.000 minimum initial deposit, welcome bonus, personal executive assistant, 3 risk-free trades, individual training and signals.
Platinum Account- $ 50.000 minimum initial deposit, welcome bonus, personal executive assistant, 10 risk-free trades, individual training and signals.
In the following image you can have more information about the types of account. Click here to see the image in full size.
Las platforms to operate that TurnFX offers are: the MT4 platform.
We will now analyze the different resources and aids for traders that TurnFX provides on its website. We believe that the resources and help provided on the website can be a point in favor of the broker.
TurnFX provides the following aids or resources to traders or interested parties: explanation above of the different products that TurnFX offers its clients, really not much more than this.
Other information about TurnFX
Some more information in case you want to contact the company, or see its website for yourself.
Phone number+ 372 55648709
Email address: [email protected]
>>> Assessment on TurnFX <<
Ending with this section, in our opinion Do we think the TurnFX company is trustworthy? Should you invest your money with the company?
The truth is that, we believe that it is better to be careful because: it does not mention which company manages the website, everything indicates that it is an unregulated company, it is not clear where it really is based ... The website is practically identical to the from the broker FxFinest, which suggests that brokers are closely related.
Update: FCA (British regulator) has added TurnFX to its blacklist
For these reasons, we believe that TurnFX is not a recommended broker. In other words, we always recommend working only with duly regulated companies, isn't it better to have the protection of a good regulator? Is it worth the risk if there are much safer options to invest?
You have to understand that one of the few measures that really ensure the clients' money is the regulation of the broker, that is, it is probably the most important thing in any broker; THAT IT HAS A GOOD REGULATION, DO NOT BE FOOLED. Good regulation means that there is an authority to which, in case of misunderstandings or problems, customers can complain.
What is your opinion? Have you traded with this broker? Are you a customer? Do you think our opinion is not correct? We invite you to collaborate with us and vote, you can also leave a comment on our website with your experience if you are a client of the broker.
We leave a vote open so that traders, clients and users of the broker can vote.