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Frequently Asked Questions


Trading with us


  • Who are your Liquidity Providers?
  • Are you an ECN/STP broker or Market Marker?
  • What are your margin requirements?
  • How much leverage you offer?
  • How to open a Live account?
  • What are the documents required to open an individual account?
  • What are the documents required to open an corporate account?
  • What is your GMT offset?
  • What are your standard trading hours for currencies?
  • What time does Rollover occur?
  • In which base currencies can I open an account?
  • What is the minimum deposit amount required to open a trading account?
  • Is Scalping and Hedging allowed?
  • Do you have a Dealing Desk?
  • If I am experiencing problems trading can I place an order over the phone?
  • Will I receive a account statements?
  • Can I generate my own account statements?
  • Are there any inactivity fees?
  • Are Demo Accounts the same as Live Accounts?
  • What is the minimum and maximum size trade allowed?
  • Can I access my trading account from different computers at the same time?
  • Do you accept US Clients?
  • Do your trading platforms have guaranteed stop/loss?
Who are your Liquidity Providers?

Turnkey aggregates liquidity from 16 tier-1 banks and ECNs to provide the best quotes from the inter-bank market for you to trade on. LP’s we are connected to are Goldman Sachs, Integral, Credit Suisse, City, Bank of America, UBS, HIRO, HSBC, Barclays, Deutsche Bank, RBS, Lmax, Marrill Lynch, Std Chartered, BNP Paribas, JPMorgan Chase.

Are you an ECN/STP broker or Market Marker?

We are a pure ECN broker with direct liquidity connection to sixteen major liquidity providers. Clients receive raw spread directly from our LPs and all trades are to our LPs.

What are your margin requirements?

Its 1% of the contract value for 1:100X leverage.

Margin Calculation Formula

Margin = current price x trading volume / leverage

How much leverage you offer?

The standard leverage we offer is 200:1 but for account size more than or equal to $2500, the leverage can go upto 400:1

The leverage is up to 50X for stock, depending upon the stock.

How to open a Live account?

To open a Live/Demo account register here: https://www.turnkeyforex.com/login/register.php

Once you finish Step 1, you’ll be required to validate your email with the code sent to your email. Once you finish this step, follow the instructions and create a Demo or Live account.

What are the documents required to open an individual account?

Documents required to open an account with us are:

One Form of Government Issued Photo ID – Examples include a passport, driver`s license, or a non-driver`s ID.

Proof of Residential Address represented on the account application – Examples include a utility bill, telephone bill, bank or credit statement (PO Boxes are not acceptable).

What are the documents required to open an corporate account?

Documents required to open a corporate account with us are:

  • Unexpired government-issued ID with photo of the authorized individual.
  • Proof of address dated within three months of the authorized individual, such as a utility bill (except mobile phone bill) or bank statement showing name and current address (P.O. boxes are not acceptable).
  • Corporate documents, including (a) Certificate of Incorporation and (b) Articles of Organization for the Corporation indicating the authorized director(s) of the corporate entity
  • Proof of address dated within three months of company premises, such as a utility bill (except mobile phone bill) or bank statement showing name and current address (P.O. boxes are not acceptable).
What is your GMT offset?

Our GMT offset is  00:00

What are your standard trading hours for currencies?

Market Open = 21:05 GMT

Market Close = 20:55 GMT

*Every day from 21:00 – 21:05 – The Market will be closed for trading.

Trading hours for Gold and Silver are 22:00 GMT to 21:00 GMT

For stocks trading hours, please visit: http://www.turnkeyforex.com/shares/

For indices trading hours, please visit: http://www.turnkeyforex.com/indices/

What time does Rollover occur?

Turnkey rollover occurs at 21:00 GMT

In which base currencies can I open an account?

You can open an account with six different base currencies: USD, EURO, GBP, CAD, AUD & JPY on MT4. However, for Trade Station, we  only offer USD as a base currency.

What is the minimum deposit amount required to open a trading account?

The minimum amount required to open a trading account is different for different account types. It is :

  • $5 for micro Account
  • $100 for Standard STP Account
  • $200 for Pure ECN Account
  • $300 for Zulu Trade Account
Is Scalping and Hedging allowed?

Yes, we are ahedging and scalping friendly broker

Do you have a Dealing Desk?

No, we do not have a dealing desk. We are an ECN and STP broker and we directly pass on your trades to our liquidity providers.

If I am experiencing problems trading can I place an order over the phone?

Yes, you can place an order over the phone/Live chat, if you are experiencing problems trading.

Will I receive a account statements?

Yes, account statement is automatically sent to clients at the end of their trading day.

Can I generate my own account statements?

You can generate your own statements if you are using Trade Station platform. This facility is not available to clients who trade on MT4.

Are there any inactivity fees?

No, we do not charge any inactivity fees.

Are Demo Accounts the same as Live Accounts?

Both Demo and Live accounts are same. You trade in real market conditions. The only difference between the two, is that in the Demo account you do not use real money.

What is the minimum and maximum size trade allowed?

The minimum size trade allowed is a Micro Lot – A Lot size of 0.01 which is equivalent to 1000 units of base currency and the maximum size that we allow is 100 lots.

Can I access my trading account from different computers at the same time?

Yes you can access your trading account from different computers while trading on MT4 & Trade Station.

Do you accept US Clients?

Yes, we accept clients from all over the world including US.

Do your trading platforms have guaranteed stop/loss?

Unfortunately, our trading platforms do not offer guaranteed stop/loss.



Commission & Spreads


  • What are the commissions & how is it calculated?
  • When will the commission be deducted from my account?
  • Are your spreads fixed or variable?
  • What is the average spreads that you offer?
  • Where can I find the information on SWAP charges?
  • When will I receive a margin call & when will my positions get closed out?
  • How long can I hold my positions?
  • Why did my position close out when the candle never got there?
What are the commissions & how is it calculated?

Our  commission is $2 per $100k, on a round turn.

The commission is calculated per $100000. So say for example if the commission we are charging is $2 per $100K and you trade 1 LOT of EUR/USD at 1.07042 then the commission will be charged will be in total $2.14.

When will the commission be deducted from my account?

Commission will be deducted when the position is opened.

Are your spreads fixed or variable?

We offer variable spreads.

What is the average spreads that you offer?

We offer True ECN spreads on the forex instruments, which means we receive and provide you raw spread with no markup. The spread in EURUSD can go as low as 0.0 pips and the average spread is 0.2 pips.

Where can I find the information on SWAP charges?

You can open a demo account and check the SWAPS for each currency.

In MT4

  • Click ‘View’ along the top menu
  • Select ‘Symbols
  • Select which currency pair you want to see the swaps for, and click ‘Properties’
  • You can now see the long and short swap rates in the pop-up window

On Trade Station when you click on the instrument tab, the roll buy and roll sell are the swap rates.

When will I receive a margin call & when will my positions get closed out?

Margin Call: When the equity falls to 50% of the margin used
Margin Stop: When your margin level reaches to 30% or lower

How long can I hold my positions?

You can hold your positions as long as you want, provided there is enough margin in your account to keep your trades safe from any negative movements in the market.

Why did my position close out when the candle never got there?

This is usually because the charts only show bid price and not historical ask prices. Please call your point of contact for explanation.


Bonus Offerings


  • What is the minimum deposit amount required to claim the deposit bonus?
  • Can I trade on the bonus?
  • Can I withdraw the bonus?
  • How can I avail the bonus offerings?
  • How does 30% rescue bonus works?
What is the minimum deposit amount required to claim the deposit bonus?

To request for the bonus, you can start with as low as $100.  You will get a 100% bonus on anything up to $20000. Anything you deposit will double in equity that you can use as margin and trade more than you usually would.

Can I trade on the bonus?

You can trade on the bonus as additional margin. However, you can’t lose the bonus amount. The system would stop out your positions once your account near to losing bonus amount.

Can I withdraw the bonus?

Yes. You can withdraw the bonus, provided you meet the volume conditions. A simple way to calculate the volume required for withdrawal of bonus is to divide the bonus amount by 2. That is the approximate number of lots you need to trade to withdraw bonus. However, if you don’t meet the volume conditions, you can withdraw your entire profit and initial deposit at any time.

Read more about the conditions here:

How can I avail the bonus offerings?

You can log into your member area and request the bonus.

How does 30% rescue bonus works?

Please note that this bonus can be used when your account is nearing the stop out levels.

Example: You deposit $1000 and bought1 lot of EURUSD. Now you are losing $450 in the open position. The current situation of your account is – Balance $1000 and Equity $550 & P/L :  -450. According to margin call rule (stop out level: 50% ), your position would get closed as soon his equity moves below $500

In this scenario, if you don’t want your position to get closed, you can request rescue bonus. Once you avail this offer, we’ll add $300 as rescue bonus. Now your balance is $1300 & Equity $850. And as the stop out level is $500 in this situation, you have a cushion of $350 before you’re positions are closed due to the system margin call.


Deposits & Withdrawals


  • How can I deposit funds to my account?
  • Do I earn interest on funds deposited into my live trading account?
  • How can I request a withdrawal?
  • How much time it takes to process the withdrawals?
  • What are you are withdrawal conditions?
  • Can I withdraw more than my initial deposit by credit card?
  • How are my funds held with you?
  • Are there fees for withdrawing funds from my account?
  • How much time it takes to fund reflected in the account?
  • What is the minimum & maximum to deposit?
  • Can I have multiple accounts and transfer funds between accounts?
How can I deposit funds to my account?

You can deposit the funds by using any of the options given below:

  • Bank Wire Transfer
  • Credit Card/ Debit Card
  • Online Payment Gateways- Neteller & Skrill
Do I earn interest on funds deposited into my live trading account?

No, you do not earn interest on funds deposited in your live account.

How can I request a withdrawal?

You can request for withdrawal by logging into your member area.

How much time it takes to process the withdrawals?

Withdrawals are processed within 48 hours of receiving the request. However, in the case bank-wire transfer, the withdrawal process can take up to 3-5 working days.

What are you are withdrawal conditions?

We don’t have any restrictions on withdrawals. You have complete discretion on the funds and can withdraw the funds whenever you want.

Regarding the mode of withdrawals:

  • The principal amount shall get credited to the respective gateway by which you made the initial deposit.
  • The excess amount or the profit can be credited to the different payment gateways on your request, provided you submit the required documents.
  • You shall withdraw the amount in the same currency in which you made your deposits originally.

To know more about our withdrawal policy, please refer to the following link: http://turnkeyforex.com/withdrawal-policy/

Can I withdraw more than my initial deposit by credit card?

No. You would only be able to withdraw the principal amount to your credit card.

How are my funds held with you?

The funds, in a client account, with Turnkey are held as segregated funds. The segregated account structure of the client trading account protects them from suffering a loss, Turnkey , or principal bank file for bankruptcy. This segregated structure means that client funds in deposit are not subject to any offset, indebtedness, obligation, or the liabilities of any entity besides the customers themselves. These regulations are in place so that neither Turnkey nor its bank can dip into the client segregated funds to offset losses elsewhere.

Are there fees for withdrawing funds from my account?

No, there are no fees for withdrawing funds from your account.

How much time it takes to fund reflected in the account?

Generally it takes 20 to 30 minutes for online payment gateways- Skrill, Neteller & Credit/Debit Card. However, please be aware that in rare cases, this process can take up to 24-hours due to delay by payment intermediaries. In the case of Bank wire transfer, it can take up to 3-5 working days.

What is the minimum & maximum to deposit?

There is no restriction on maximum amount; you can start trading with as much maximum amount you want. However, the minimum amount to start trading is $5.

Can I have multiple accounts and transfer funds between accounts?

Yes, you can have multiple accounts and can transfer funds between those accounts at any time, provided all the positions in the account you are asking transfer from are closed. If you are transferring to another account in a different currency, your funds will be converted at current exchange rate.


Social Trading


  • What is Social Trading?
  • What commissions do you charge for Zulu trade account?
  • Why Zulu spread is high comparatively to normal trading account?
  • What is the minimum amount required to start Zulu account?
  • What commission one can earn by becoming signal provider in Zulu Trade.
  • Why are Zulu commissions more than other trading account?
What is Social Trading?

Social Trading is one of the most popular trends in financial markets where people can connect, interact, discuss and make profits in a real time community focused trading environment. Unlike traditional online trading, social trading takes things to a more interactive level and offers you many advantages. It allows traders to use each other’s skills and wisdom to make money. It is very simple to use, all you have to do is build your own network and participate in the trades of signal providers.

We through our partner Zulu Trade offer social trading to our clients

What commissions do you charge for Zulu trade account?

We offer two types of accounts in Zulu Trade:

  1. Pure ECN Account- you would get the raw spread, starting from 0.0 pips and average 0.2 pips in the case of EURUSD. Commission – $ 0.11 per $1,000 (per side)
  2. Zulu Spread Account- You would get spread starting from 1.5 pips in forex with average spread of 1.7 pips in EURUSD. Commission- $0.04 per $1,000
Why Zulu spread is high comparatively to normal trading account?

Zulu Trade charges us an additional 1.5 pips for using its social trading network.

What is the minimum amount required to start Zulu account?

We recommend you open an account with $300. This amount will allow you to follow 3 – 4 traders and make the most of your trading account as opposed to $100 with which you’ll only be able to follow 1 or 2 traders.

What commission one can earn by becoming signal provider in Zulu Trade.

You would receive a compensation of upto 0.5 pips for 1 lot traded in your follower accounts.  For more information, you can refer to this link: http://www.zulutrade.com/trader-program

Why are Zulu commissions more than other trading account?

Zulu commissions are more as there are three costs associated with it

  1. Zulu trade social trading network cost
  2. Signal provider cost
  3. Turnkey forex commission

Miscellaneous


  • How do I obtain information to assist with my tax return?
  • How can I make changes in my account information?
  • Do you offer automated trading?
  • How do I make a complaint?
  • How do I close my account?
How do I obtain information to assist with my tax return?

Unfortunately, we wont’t be able to help you with your tax returns. You’ll have to take care of that yourself.

How can I make changes in my account information?

You should be able to make most of the changes from the member are itself. Incase, you are unable to do so, email the change request to contactus@turnkeyforex.com

Do you offer automated trading?

Yes, we offer automated trading. Visit the link for more details: http://www.turnkeyforex.com/robo-ea/

How do I make a complaint?

You can make a compliant by emailing us at compliants@turnkeyforex.com

How do I close my account?

You can place request from your member login or you can mail us at contactus@fturnkeyforex.com  to close your account.

Open an Account

There’s no minimum balance to open an account, it takes less than five minutes, and there’s no obligation to fund or trade.