If you are looking for an offshore broker then I can highly recommend Hugosway.
1 Like
Yeah it’s those times when spreads just go wild that get me nervous. Yes typically they’re tight, but there’s quite a few situations where they’ve widened to +5 pips.
Thanks for the thorough explanation, and yes I understand how swaps work, but because the FX market is decentralized (which is not new), brokers charge different swap rates. I didn’t pay much attention to this in the past, but now I really see how critical it is. If your broker (and this isn’t just Turnkey) promises low commissions and ulti-tight spreads, WATCH OUT for the swap rates because that is where they’ll recoup their money. Hopefully we can get Turnkey’s swaps to a more realistic place because I’ve really liked working with them. They’ve got a couple decent swaps right now, but some are totally insane – basically situations where they’re collect $4 in interest from the long, and only pay the short $1.
BTW if you’re unfamiliar with how to check your broker’s swaps, you can find the details in your MT4. In the “Market Watch” window right click on the currency pair you want to check. A list will appear – click on “Specifications” and scroll down. You’ll see the long and short swaps, as well as which day they’ll pay triple swaps on (since swaps aren’t paid out Sat and Sun). If you want to compare your broker to mine (Turnkey), just shoot me a list of your swap rates and I’ll return the favor.
Cheers,
FW (I haven’t proof read this, so sorry for any mistakes)
@whywescalp Can you shoot me a message about Islamic accounts? I took a course on that in college but would like to know more about what you’re talking about.
Question 1: Comparing both of these companies Turnkey is a better choice looking at the ECN Accounts with min $200 and $2 per turn lot VS FinPro Trading at $4 per turn lot.
Question 2: Turnkey and FinPro Trading must have the same parent company they have the same exact stats across the board otherwise via myfxbook.
Yes, that agrees with my experience. Other than commission or other “negotiables” they are roughly equivalent technically.
hyperscalper
has anybody made a few withdrawals from turnkey forex? if so whats the process and how long does it take. thanks in advance
you can very easily get on chat with finpro guys and get $2 per round lot (they happily oblige 
, I have no idea why they do it like this. My guess is that they prefer clients talking to them and thats why they also man their live chat 24 hours a day )
I personally dont believe they are the same companies or have same parent. They are using technology from the same provider turnkeyfx.com and turnkeyfx clearly says all the service they provide for setting up or managing a forex brokerage. We have discussed it in length on this thread earlier on.
Think of mobile phones for a second. One Plus, Motorola, Nexus and Sony use the same version of Android, they all look and feel the same (At the software level) except the hardware that they offer and the price that they charge for it. So does that mean One Plus, Motorola, Google and Sony are all owned by the same parent company ? Obviously we all know that they are different companies operating and serving different types of consumers. Its the exact same case with Finpro, turnkeyfx and turnkeyforex. The use the same technology provider which is turnkeyfx.com but they are different companies and you can feel the difference in their character by talking to their respective sales people.
I wish finpro and turnkeyforex guys are reading this thread and do something about their potential brand identity issues here 
. Guys, get your MT4’s branded with you own logos. Because traders tend to link you with eachother and your logos are more important than your client service (no offience if you are reading this thread).
In my personal opinion I absolutely prefer Coinexx followed by Finpro then turnkeyforex and last Lqdfx (in the exact same order of preference). all four are top notch brokers and they are doing amazing service to traders by protecting our interest and keeping the leverage levels intact and still offering amazing commissions and service to both US and non-US clients.
And after ESMA following the footsteps of CFTC, its even more important for EU and US traders to have a few decent brokers like these. Keep the good work going guys… !
i just talk to a trader from JAFX he told me before the lawsuit that if you did a wire transfer to JAFX it was going to wells fargo in California, this is the real reason they got sued by cftc, same with tallinex they was using a IB borker in the u.s. in others words don’t have a physical presence in the .U.S. or get sued
Some one who works for them told you this? Or just someone who uses them as a broker?
I still use them as a broker.
someone who use to use this broker, i don’t know if it’s true or not, but he said they was using wells fargo bank for there wire transfer
@smallpaul I have made a few withdrawals from Turnkey forex, You raise a withdrawal request with them from your account and they process it in 48 hours (Weekdays), the wire takes another 1-2 days for me to receive from my bank…it is pretty smooth…
Thanks for replying. Might be true, might be hearsay.
FinProTrading is getting hammered by withdrawal issues on ForexPeaceAcademy
ForexPeaceArmy ? just wondering…
hyperscalper
Can you share the link ? I don’t see that at FPA
Excuse my ignorance, we have trader’s way listed as one of the trusted broker but when I go to their website, the footer says “All information on this website is not directed toward soliciting citizens or residents of the United States and the United Kingdom." Am I missing something?
that is a regulator pleasing exercise, open the account and select +1 as your country code 
Note: it uses the word “Soliciting” which means they dont actively market in those jurisdicitons, thats all
Active solicitation of U.S. persons is largely the way in which CFTC attempts
to attack these brokers; and it is a “survival issue” for them. Doing business with
a U.S. person who approaches the broker; not as a result of active solicitation
by the broker, is not illegal for brokers who do not have any U.S. entites as part
of their business. And having an offshore broker is absolutely not illegal for
U.S. persons. But… This is the “over-reach” by U.S. authorities and bullying
overseas, which is the basis of this entire forum thread…
The best approach is to use brokerages which are either “anonymous” and
do not require any nationality or residence information disclosure; or those
which have no U.S. based business entities, nor participate in any
U.S. influenced regulatory bodies. There are a few good choices here,
so watch this thread carefully.
What we are hoping for is that offshore brokers are “less intimidated” by
threats from CFTC and allied regulatory agencies; so that more of them
are able to clearly indicate that they are either U.S. friendly, or at least
nationality/residence “neutral” in accepting U.S. clients.
[EDIT] Primary means of restriction against offshore brokers is to cut off
their access to the “normal” funds transfer mechanisms; again through U.S.
bullying of the mainstream financial structure. Using Crypto currency
transfer mechanisms is increasingly the best means of moving funds
into and out of offshore brokerages, while maintaining “Fiat currency”
(e.g. Dollars or Euros) as the funding currencies in those brokers. Thus
by restricting the usage of Cryptos to “funds transfer purposes only”
we avoid exposure to Crypto:Fiat exchange rate volatility… Consider
Coinexx.com or for more traditional approaches TurnkeyForex or
FinProTrading as “hybrid” choices … I’m trying not to show favoritism
here…
[EDIT2] Specifically, TradersWay does offer this “hybrid” approach where
Crypto (BitCoin) transfers to/from accounts funded in USD should be
the preferred approach. Use a service like Coinbase.com to send/receive
BTC and to convert/transfer to/from your Bank account in USD or other
“Fiat” (aka “real money”) currencies. Just a suggestion; “your mileage
may vary”… Good Luck !!
[EDIT3] To my knowledge, currently, only Coinexx.com offers the choice
of Crypto funding AND/OR ordinary USD funds denomination of their Forex accounts…
Perhaps Crypto currency denominated accounts are not desirable, due to
the risk of Crypto:Fiat volatility anyway… So by this measure, several
brokers with Fiat account denomination, also permit Crypto-based funds
transfer; thus providing what I consider the best environment for funds
transfer, while maintaining “Fiat” or national currency stability…
I am hoping more brokerages follow in this choice of funding currency
while maintaining a largely “anonymous” or at least a
“neutral” approach to client national identity…
hyperscalper
1 Like
Thought i’ll share. here’s an interesting article on finance magnates about Coinexx
After reading positive feedback about them on this thread, hv been testing them. Seems like its time to go LIVE 