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Turnkey Forex

Mauritius Mauritius
Forex/CFD (CLOSED / merged) · since 2009
SIN REGULAR - DEFUNCTwhat are these? →
1.2
/ 5 ★
RegulationSIN REGULAR - DEFUNCT
Min. deposit$200
Leverage1:1 – 1:500
PlatformsMT4, MT5
InstrumentsForex/CFD (CLOSED / merged)
Founded2009
🏛️ Which entity will open your account?
📍 Pick your country above and we'll tell you exactly which entity opens your account at Turnkey Forex.
How is this decided and how do I verify it? →

Regulation by region

The entity you sign with — and your protection — changes depending on where you live.

United Kingdom
No FCA license
Not authorized by the FCA
European Union
No license
No European authorization
United States
⚠ CFTC RED List
On the CFTC RED List since 16/07/2020 for taking on US clients without registration
Australia
No ASIC license
Not authorized by ASIC
Rest of the world
⚠ Defunct — site down
turnkeyforex.com is OFFLINE (HTTP 522) since ~Sep-2025. The brand stopped operating, absorbed by Coinexx. Complaints of withdrawals only in Bitcoin after delays

All licenses

Every regulator where the group holds a license, with its execution model. The entity that applies to you depends on your country (see above).

MauritiusMauricioOffshore / Defunct
St. Vincent & the GrenadinesSVG FSAOffshore (previous)
United StatesCFTCRED List

Account types

STPmin $200, up to 1:200 (historical)
ECNmin $200, up to 1:400, ~$2 commission/lot (historical)

Pros

—

Cons

✗No tier-1 regulation (offshore)
✗Withdrawal complaints / confiscation
✗No compensation scheme
✗Questionable transparency
✗Damaged reputation
✗Very high leverage (more risk)

Breakdown by axis

The total score (out of 100) is the sum of the 7 axes, with the same yardstick for everyone. Below each one, the rationale with its source.

Regulation: Unregulated0/22 pts
Why: effectively CLOSED/merged with Coinexx (site offline, HTTP 522). UNREGULATED; on the CFTC RED List (2020). Mauritius / ex-SVG
Withdrawals / payments: Denials0/20 pts
Why: flagship FPA case: trader reached ~$409,758 in equity, was paid ~$308k and ~$100k was left UNPAID; document requests to stall withdrawals, Ponzi-like model
Fund safety: No protection0/15 pts
Why: unregulated: no segregation or compensation
Transparency: Misleading0/10 pts
Why: CFTC RED List (2020) + site down; WikiFX 1.59/10
Reputation: Damaged0/10 pts
Why: founded 2009; CLOSED/merged; FPA thread 'Scammed by Turnkey Forex'
Costs: Average4/8 pts
Why: irrelevant: no longer operates

Flags detected

🚩[regulation] none -> effectively CLOSED/merged with Coinexx (site offline, HTTP 522). UNREGULATED; on the CFTC RED List (2020). Mauritius / ex-SVG
🚩[withdrawals] denies -> flagship FPA case: trader reached ~$409,758 in equity, was paid ~$308k and ~$100k was left UNPAID; document requests to stall withdrawals, Ponzi-like model
🚩[fund_safety] none -> unregulated: no segregation or compensation
🚩[transparency] misleading -> CFTC RED List (2020) + site down; WikiFX 1.59/10
🚩[reputation] bad -> founded 2009; CLOSED/merged; FPA thread 'Scammed by Turnkey Forex'

Sources

Don't take our word for it — check it yourself. These are the official registries and legal pages we relied on.

🔗 ⚠ CFTC — RED List (Turnkey Forex entry)🔗 EarnForex — 'Out of business, acquired by Coinexx'

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