TurboForex Review 2026
Regulated broker with real licence numbers.
TurboForex is a regulated CFD broker founded in 2012. It holds a FSA licence under number SD031.
The basics
TurboForex was founded in 2012 and is headquartered in Victoria, Seychelles. It is privately owned. The broker offers CFDs on 300 instruments across forex, indices, commodities, and crypto. All positions are contracts for difference — there is no real asset ownership.
MetaTrader is available on all account types. Copy trading is not offered.
| Founded | 2012 |
| Headquarters | Victoria, Seychelles |
| Instruments | 300+ |
| Platforms | MT4, MT5 |
| MetaTrader | Yes — MT4 and MT5 |
| Copy trading | No |
| Real stocks | No — CFDs only |
Is TurboForex safe?
The Seychelles FSA is an offshore regulator. It requires broker registration and basic conduct rules, but does not offer the same client protections as the FCA, CySEC, or ASIC. There is no compensation scheme and leverage limits are not imposed.
| Regulator | Licence | Entity |
|---|---|---|
| FSA | SD031 ✓ | TurboForex Group Inc |
You can verify the FSA licence at fsaseychelles.sc. The registration shows the entity name, authorisation status, and full permissions list. It takes under a minute.
TurboForex spreads
These are the typical spreads on TurboForex's standard account. Spreads vary by market conditions and account type. ECN or raw-spread accounts offer lower spreads in exchange for a per-trade commission.
| EUR/USD | 1.5 pips pips |
| GBP/USD | 1.8 pips pips |
| USD/JPY | 1.6 pips pips |
| Gold (XAU/USD) | 30c/oz |
| S&P 500 | 0.6pt |
TurboForex's EUR/USD spread of 1.5 pips pips is wider than ECN-first brokers but typical for a commission-free account.
TurboForex withdrawal fee and processing time
Fee: None. TurboForex does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Processing time: Instant to 24 hours for e-wallets. Bank transfers take 1 to 3 business days.
Withdrawal requests must pass identity verification before processing. If your account is not yet fully verified (proof of identity and address submitted), expect additional delays. Verified accounts follow the standard processing times above.
TurboForex minimum deposit by entity
The minimum deposit depends on which TurboForex entity serves your country. Offshore entities often allow lower minimums but with less regulatory protection.
| Entity | Regulator | Min deposit | Max leverage (forex) |
|---|---|---|---|
| TurboForex Group Inc | FSA SD031 | $250 | 1:500 |
TurboForex vs CM Trading
| TurboForex | CM Trading | |
|---|---|---|
| Primary regulator | FSA SD031 | FSCA 38782 |
| Min deposit | $250 | $250 |
| EUR/USD spread | 1.5 pips pips | 1.8 pips |
| MetaTrader | Yes | Yes |
| Instruments | 300+ | 300+ |
| Copy trading | No | Yes |
| Withdrawal fee | None | Varies |
Both brokers are regulated and legitimate. TurboForex suits traders who value MetaTrader and algorithmic trading. CM Trading is better for traders who prioritise its specific regulated entity coverage.
Regulation — the numbers that matter
| FSA | SD031 — TurboForex Group Inc |
Leverage for retail clients in the EU and UK is capped at 1:500 on major forex pairs under ESMA rules. The offshore entity offers up to 1:500, but with lighter regulatory protection.
Pros and Cons
What works
- FSA regulated
- MetaTrader 4 and 5 available
What does not work
- No tier-1 regulator (FCA/ASIC/CySEC) — offshore entity only
- No copy trading
- No real stock ownership — CFDs only
- Inactivity fee: $10/month after 3 months
- Higher minimum deposit of $250
The verdict
TurboForex is a legitimate, regulated broker. The FSA licence number SD031 is verifiable on the public register. It is best suited for traders who want MetaTrader on a regulated platform. Rating: 4.0 out of 5.
Alternatives to TurboForex
If TurboForex does not fit your needs, these regulated alternatives are worth comparing:
Frequently asked questions
Is TurboForex safe?
The Seychelles FSA is an offshore regulator. TurboForex holds FSA licence SD031, which is publicly verifiable on the official register.
What is the TurboForex minimum deposit?
The minimum deposit is $250. This applies to the main regulated entity. Some offshore entities may differ. See the entity table above for full breakdown.
What is the TurboForex EUR/USD spread?
The EUR/USD spread on TurboForex standard accounts is typically 1.5 pips pips. Spreads vary with market conditions. ECN or raw accounts offer lower spreads with a per-trade commission instead.
How long does TurboForex take to process withdrawals?
Instant to 24 hours for e-wallets. Bank transfers take 1 to 3 business days.
Does TurboForex charge withdrawal fees?
None. TurboForex does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Does TurboForex have MetaTrader?
Yes. TurboForex supports both MT4 and MT5 on all account types. This allows automated trading, custom indicators, and expert advisors.