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Do you want to know which is the better broker between STARTRADER and Turnkey Forex ?
In the table below, you can compare the features of STARTRADER , Turnkey Forex side by side to determine the best fit for your needs.
EURUSD:-0.2
EURUSD:-1.8
EURUSD:12.62
XAUUSD:24.57
EURUSD: -5.71 ~ 2.27
XAUUSD: -30.8 ~ 22
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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 iv-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:
STARTRADER Review Summary | |
Founded | 1997 |
Registered Country/Region | Seychelles |
Regulation | ASIC, FSA, FSCA |
Market Instruments | Forex (50+), shares (70+), indices, metals, and commodities |
Account Type | STP Account, ECN Account |
Demo Account | ✔ |
Leverage | Up to 1:500 |
Spread | Start from 0.0 pips |
Minimum trading set | 0.01 lots |
Trading Platform | MT4, MT5, Web Trader, STARTRADER APP |
Payment Method | Visa/Mastercard, E-Wallet, International Bank Wire Transfer |
Customer Support | Phone: +61 2 9925 4396 |
Email: info@startrader.com | |
Physical Address: Suite 201, 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, Mauritius |
STARTRADER, founded in 1997, is a brokerage registered in Seychelles. The trading instruments it provides cover more than 50 types of forex , more than 70 types of shares, indices, metals, and commodities.
Pros | Cons |
Regulated | No commission information |
Wide range of trading instruments | No clear information on the minimum deposit for each accounts |
Generous leverage up to 1:500 | Limited account types offered |
MT4 and MT5 supported | No Islamic account |
Copy trading available | |
Demo account available |
STARTRADER is regulated by ASIC, FSA and FSCA. Its current status is regulated.
Regulated Country | Regulated Authority | Regulated Entity | License Type | License Number | Current Status |
Australia | ASIC | STARTRADER PRIME GLOBAL PTY LTD | Market Making(MM) | 421210 | Regulated |
Seychelles | FSA | STARTRADER LIMITED | Retail Forex License | SD049 | Offoreshore Regulated |
South Africa | FSCA | STARTRADER INTERNATIONAL PTY LTD | Financial Service | 52464 | Regulated |
STARTRADER offers traders more than 1000 types of instruments - more than 50 types of forex , more than 70 types of shares, indices, metals, and commodities.
Tradable Instruments | Supported |
Forex | ✔ |
Commodities | ✔ |
Stocks | ✔ |
Metals | ✔ |
Indices | ✔ |
Futures | ❌ |
Options | ❌ |
STARTRADER offers 2 different types of accounts to traders - Standard Account, ECN Account.
Account Type | Standard Account | ECN Account |
Spreads | As low as 1.0 pips | As low as 0.0 pips |
Commission | No | Yes |
Minimum Volume per Trade | 0.01 lots | 0.01 lots |
Account Currency Type | AUD, CAD, EUR, GBP, USD, NZD | AUD, CAD, EUR, GBP, USD, NZD |
Payment Methods | Visa/Mastercard, E-Wallet, International Bank Wire Transfer | Visa/Mastercard, E-Wallet, International Bank Wire Transfer |
Demo Account | ✔ | ✔ |
STARTRADER's trading platforms are MT4, MT5, Web Trader, STARTRADER APP, which support traders on PC, Mac, iPhone and Android.
Trading Platform | Supported | Available Devices |
MT4 Margin WebTrader | ✔ | Web, Mobile |
MT5 | ✔ | Web, Mobile |
Web Trader | ✔ | Web |
STARTRADER APP | ✔ | Mobile |
The broker supports Visa, Mastercard, E-Wallet, Bank Wire, China Union Pay, Dragonpay, Help2Pay, Payment Asia and tether.
STARTRADER's copytrading offers an opportunity to follow good traders and monitor the markets.
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 iv-markets and turnkey-forex are, we first considered common fees for standard accounts. On iv-markets, the average spread for the EUR/USD currency pair is from 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.
iv-markets is regulated by ASIC,FSA,FSCA. 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.
iv-markets provides trading platform including ECN ACCOUNT,STANDARD ACCOUNT and trading variety including 35+ currency pairs, 70+ stocks, 20+ commodities, 20+ indices. turnkey-forex provides trading platform including ECN Account,STP Account and trading variety including Forex, Commodities, Indices, Cryptocurrencies .