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Do you want to know which is the better broker between AM Markets and Turnkey Forex ?
In the table below, you can compare the features of AM Markets , Turnkey Forex side by side to determine the best fit for your needs.
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XAUUSD:30.5
EURUSD: -5.76 ~ 2.39
XAUUSD: -28.93 ~ 13.7
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You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of am-markets, turnkey-forex lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
AM Markets Review Summary | |
Founded | 2019-10-26 |
Registered Country/Region | Belarus |
Regulation | NBRB |
Market Instruments | Forex/Precious Metals/Energy/Indices/Digital Currencies |
Demo Account | ✅ |
Leverage | Up to 1:500 |
Spread | 0.1 |
Trading Platform | MT4(Windows and Mobile) |
Min Deposit | $100 |
Customer Support | Live chat |
Email:support@ammarkets.com | |
Social Media: Twitter, Facebook, Instagram, and Linkedin |
AM Markets is a broker offering many market instruments: Forex/Precious Metals/Energy/Indices/Digital Currencies. AM Markets also provides spreads as low as 0.1, 0 commission, leverage up to 1:500, and 24/5 customer support.
Pros | Cons |
Regulated | No Islamic account |
ECN/Demo account types available | Hidden withdrawal risks |
Commission free | |
24/5 customer support | |
Various products: forex/index/precious metals, etc. |
AM Markets are regulated by NBRB, which is not an authoritative regulatory agency in the public mind. The license number is 193583860.
Traders can trade multiple assets because of the rich market instruments that AM Markets provides, including Forex, Precious Metals, Energy, Indices, and Digital Currencies.
Tradable Instruments | Supported |
Forex | ✔ |
Precious Metals | ✔ |
Digital Currencies | ✔ |
Indices | ✔ |
Energy | ✔ |
AM Markets offers traders various account types that choose at random. There are three real account types and a demo account: STD, STP, and ECN.
Regarding real account information, STD is suitable for traders who prefer fixed spreads. Such traders are relatively cautious in investing. STP has the characteristics of floating spreads and is favored by experienced traders looking for greater opportunities. Besides, ECNs low spreads often attract traders.
Account Type | STD | STP | ECN |
Maximum Leverage | 1:500 | 1:500 | 1:500 |
Minimum Deposit | $100 | $100 | $100 |
Minimum Spread | 0.1 | 0.1 | 0.1 |
According to the information released by GlcWikiFX about AM Markets, the lowest spread of AM Markets is 0.1 pips. In addition to this, traders enjoy no commission, which will reduce traders trading costs.
AM Markets' leverage is as high as 1:500, which has relatively large opportunities accompanied by a huge risk of loss.
AM Markets supports the MT4 trading platform, which is welcomed by traders for its stable, user-friendly interface and advanced charting capabilities.
Trading Platform | Supported | Available Devices |
MT4 | ✔ | Windows and Mobile |
The minimum deposit of AM Markets is $100, but the withdrawal information is not stated.
AM Markets customer support can be reached 24/5 through online, chat, and email, as well as social media platforms including Twitter, Facebook, Instagram, and Linkedin.
Contact Options | Details |
support@ammarkets.com | |
Online Chat | ✔ |
Social Media | Twitter, Facebook, Instagram, and Linkedin |
Supported Language | English |
Website Language | English |
Physical Address | QUEENS QUAY WEST TORONTO, ON, CANADA |
AM Markets offers a variety of trading account types, including STD, STP, and ECN. It offers spreads up to 0.1 pips and 0 commission. However, traders do not know how to withdraw money from AM Markets, which may cause problems with the safety of traders' funds. In addition, AM Markets are not regulated by authoritative institutions and will carry certain risks.
Are AM Markets safe?
Yes, legally regulated.
What account types does AM Markets provide?
STD, STP, and ECN. If traders do not want to invest real amounts, they can also choose a demo account.
How to withdraw money at AM Markets?
AM Markets does not have withdrawal information. To guarantee the safety of funds, traders need to evaluate platform security.
Registered in | UK |
Regulated by | No effective regulation at this time |
Year(s) of establishment | 2-5 years |
Trading instruments | Forex, Commodities, Indices, Cryptocurrencies |
Minimum Initial Deposit | $10 |
Maximum Leverage | 1:500 |
Minimum spread | 0.0 pips onwards |
Trading platform | MT4, MT5 |
Deposit and withdrawal method | Information not available |
Customer Service | Email/phone number/address |
Fraud Complaints Exposure | No for now |
Note: At this time, we only have a cursory look at Turnkey Forex as the company's official website (https://turnkeyforex.com/ ) does not open properly.
Screenshot time: 02/03/2023
WikiFX provides dynamic scoring, it will track the broker's dynamic real-time scoring, the current time screenshot scores do not represent past and future scoring.
General information and regulations
Turnkey Forex is registered in the UK and appears to be a fraudulent broker without any credible regulation, with a history of no more than 5 years. Unfortunately, we could not find any more detailed information about this broker on the internet. Therefore, we recommend that you do not deal with such a low-information broker right off the bat and always consult WikiFX to get at least a basic understanding of a broker.
When choosing a forex broker, you should know that a regulatory license does not necessarily guarantee the reliability of a broker as it may be an expired or cloned regulatory license, but a broker without any regulatory license has a high probability of being unreliable.
Trading platforms
As for trading platforms, clients can choose between the market leaders MetaTrader4 and MetaTrader5, which can be accessed from many devices.
However, have you ever wondered or are you wondering which platform you should use? Our team has the corresponding article for your reference. The article details the similarities and differences between the two and gives specific advice.
https://www.wikifx.com/es/wikishow/202207208464173722.html
Account types
Turnkey Forex provides two types of account, ECN and STP. Their mayor differences consist in spreads and commissions. The ECN account has a commission of 1 USD per lot but lower spreads, while the STP account requires no commissions buy a higher level of spreads.
Customer support
The support service provided by Turnkey Forex is not very extensive. It can only be accessed via email, address and a phone number. Since the company's website is not currently open, we do not know if it offers other services such as live chat, callback, FAQ, 24/7 or 24/5 service, etc.
Below are the details about the customer service.
Email: CONTACTUS@TURNKEYFOREX.COM
Phone Number: +44 2032876620
Address: 5th Floor, Ebene Views 66C2 Ebene Quatre Bornes, Mauritius
Users exposures
We have not received any reports of fraudulent activity at this time. However, this does not necessarily mean that this broker is safe and you should remain vigilant to prevent being scammed.
Frequent asked questions about Turnkey Forex
Is this broker well regulated?
No, it is currently not effectively regulated and you are advised to be aware of its potential risks.
How much leverage does this broker offer?
The maximum leverage of Turnkey Forex is 1:500. Please note that this leverage may only be available for some accounts and products. Please consult our articles or the dealer's website for specific information.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive am-markets and turnkey-forex are, we first considered common fees for standard accounts. On am-markets, the average spread for the EUR/USD currency pair is 0.1 pips, while on turnkey-forex the spread is From 0.00.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
am-markets is regulated by NBRB. turnkey-forex is regulated by --.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
am-markets provides trading platform including STD,STP,ECN and trading variety including Forex/precious metals/energy/indices/digital currencies. turnkey-forex provides trading platform including ECN Account,STP Account and trading variety including Forex, Commodities, Indices, Cryptocurrencies .