Profile
TurboForex is an offshore CFD broker offering forex, commodities, indices, and cryptocurrency trading through MetaTrader 4. Registered in Saint Vincent and the Grenadines, the broker targets international retail clients with high leverage and minimal entry barriers. This TurboForex review analyses its regulatory status, execution model, platform features, and trading conditions as of 2025.
Regulation and Security
TurboForex is registered by Turbo Trading Ltd in Saint Vincent and the Grenadines, an offshore jurisdiction with no formal financial oversight. The local regulator, the Financial Services Authority (SVGFSA), does not regulate or license forex trading or brokerages.
This lack of regulation means TurboForex is not subject to any capital adequacy requirements, external audits, or investor protection schemes. There is no compensation fund in case of broker insolvency, and client funds may not be legally segregated. Risk is considerably higher compared to brokers regulated by bodies such as the FCA or ASIC.
Execution Model
TurboForex claims to offer a hybrid STP/ECN model, depending on the account type. However, given the absence of third-party regulation, there is no independent verification of order execution practices or liquidity sourcing.
The broker acts as an intermediary without a dealing desk for ECN accounts but may operate as a market maker on standard accounts. No execution statistics or transparency reports are provided.
Trading Platforms
TurboForex supports the MetaTrader 4 (MT4) platform for desktop, web, and mobile trading. Key features include:
- 30+ built-in indicators and drawing tools
- Expert Advisor (EA) support for automated trading
- One-click execution and real-time order management
No proprietary platform or access to MetaTrader 5 (MT5), cTrader, or API trading is offered.
Supported Markets
TurboForex provides CFDs across a limited selection of asset classes:
- Forex: 45+ currency pairs, including majors and minors
- Commodities: Gold, silver, oil
- Indices: S&P 500, Dow Jones, DAX, Nikkei
- Cryptocurrencies: BTC/USD, ETH/USD, LTC/USD
All instruments are traded via CFDs, with no access to real stocks, ETFs, or physical crypto.
Account Types and Trading Conditions
TurboForex offers several account tiers:
- Micro: Minimum deposit $250, leverage up to 1:500, spreads from 2.0 pips
- Standard: Spreads from 1.6 pips, no commission
- ECN: Raw spreads from 0.0 pips, $6 per lot commission
- VIP/Islamic: Customised conditions and swap-free trading
Other key conditions include:
- Leverage: Up to 1:500
- Minimum trade size: 0.01 lots
- Base currencies: USD, EUR, GBP
Retail and Institutional Features
TurboForex primarily serves retail traders. Features include:
- Forex education resources and economic calendar
- Account managers for higher-tier accounts
- Automated trading via MT4 EAs
There are no white-label programs, FIX API access, or liquidity services typically expected by institutional clients.
Client Protection and Transparency
Due to its offshore status, TurboForex does not offer regulatory safeguards. Specific risks include:
- No investor compensation scheme
- No publicly disclosed audit reports
- No guarantees on fund segregation or withdrawal prioritisation
Client fund handling and operational transparency are not independently verified. Caution is advised when engaging with unregulated offshore brokers.
Base Currencies, Order Types, and API Access
Accounts can be denominated in USD, EUR, or GBP. TurboForex supports the following order types:
- Market and limit orders
- Stop loss and take profit
- Trailing stops
API access is not available. Traders may use Expert Advisors on MT4 for strategy automation.
Pros and Cons
- Pros:
- High leverage up to 1:500
- MT4 support with EAs and one-click trading
- Multiple account types including ECN and Islamic
- Cons:
- Not regulated by any financial authority
- Limited asset range and no access to real equities
- No negative balance protection or compensation scheme
- Transparency concerns around execution and fund handling
Frequently Asked Questions
Is TurboForex a regulated broker?
No. TurboForex is registered offshore in Saint Vincent and the Grenadines and is not regulated by any major financial authority.
What trading platform does TurboForex use?
TurboForex uses MetaTrader 4 (MT4) across desktop, mobile, and web interfaces.
What is the minimum deposit to open an account?
The minimum deposit starts at $250 for Micro accounts and varies by account type.
Does TurboForex support automated trading?
Yes. TurboForex supports Expert Advisors (EAs) on MT4 for automated and algorithmic trading.
What leverage is available at TurboForex?
Leverage of up to 1:500 is available depending on the account type and instrument.
