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For Premium users, 20x turnover is required. Supported trading platform: proprietary, web, Android and iPhone 9. It is one of the more transparent companies in the industry that declares its owning company and market operations.
The website is a little outdated but simplistic nonetheless so navigation is straightforward. Account Types TurboForex offers a wide range of account types to choose from and all benefits to each are set out on the website so potential clients can easily decide which may be best suited for them and their trading style.
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Mini — Min deposit: Most suited for those trading smaller volume Standard — Min deposit: 1, Suited for medium experienced traders Premium — Min deposit: 10, Platforms TurboForex offers the trading platform we trust the most, which is MT4. Leverage The maximum leverage offered by TurboForex is which in itself is highly appealing and generous, meaning clients can maximize profit byon small capital and small trade sizes, on winning positions.
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If this leverage is a little too high for your trading style, open interest in options course, there is the option to lower it to your preferred amount.
Trade Sizes The minimum trade size allowed with TurboForex is set as most do, at the standard 0.
There appears not to be any maximum trade size requirement. Spreads TurboForex offer spreads starting from 0.
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Each account type offers slightly different spreads on different assets, so be clear on checking which one offers what on demo before you go ahead and open the live account version. Both Indices and Forex pair spreads floating as displayed on the website are incredibly low and certainly ranked competitive to what other brokers offer.
What is the Best Binary Options Broker? Binary options trading hinges on a simple question — will the underlying asset be above or below a certain price at a specified time? If so, you can make substantial profits with one of the most straightforward financial instruments to trade. But what exactly are binary options, and what are their benefits and drawbacks?
Minimum Deposit The minimum deposit requirements set by TurboForex are overall, high compared to requirements set by competitor brokers. Minimum deposits are set reasonably high across all the accounts types to choose from: Mini — Min deposit: We do recommend that you read carefully about how bonus schemes work regardless of the FX broker you are considering using before jumping to conclusions, thinking this will add margin that you can withdraw easily, or at all.
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There are no deposit fees associated with TurboForex according to the website. Customer Service TurboForex Customer service is less than satisfactory, with the agents being unresponsive and not easily reachable; the only method of contact that clients of this broker can rely on is via email. This means 0 instant contact, which is a little off-putting, especially in the case of a client panicking about a trade query and wanting to resolve it ASAP.
It is furtherly concerning that we never received any response from the email customer support team, even over a full working week period. Demo Account A demo account is offered by TurboForex, which is especially useful if you are wanting to take the training courses offered, and learn to trade alongside trading in a practice, risk-free environment.
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Countries Accepted The website disclaimer does rightfully state that the provision of trading serviced by TurboForex will not be granted to those residing in the United States nor the European Union.
This is, of course, vetted when all potential customers are required to submit a proof of Photographic Identification to prove you are over the age of 18 and then you are requested to submit a document proof of residency.
If you are from the above jurisdictions, you will not turbo options with a minimum deposit accepted to open a live account with TurboForex. This vision that a bonus will increase margin false is highly deceptive and wrong to assume it almost guarantees a profit.
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The trading conditions themselves in respect of leverage allowance and the tight spreads offered are not to complained abut, however, the service as a whole is not wholly transparent and trustworthy on the surface; the customer support team is turbo options with a minimum deposit unresponsive and deposit and withdrawal timescales are not clear. These factors alone should cause you to be concerned if considering to become a client of this broker.