TrendsTurbo is a strong choice of broker for many reasons. It offers a variety of asset choices ranging from foreign exchange pairs to indices, energies and metals. It offers the popular trading platform, MetaTrader 4. Trading conditions vary and are largely dependent on account type.
In business over the last decade, TrendsTurbo offers benefits such as compatibility with Expert Advisors and a simple account opening process.
TrendsTurbo Review: Pros & Cons
- Range of asset class options including forex and indices
- Presence of MetaTrader 4
- Good spreads on the whole
- No obvious regulator
- Lack of access to education section
- Company Name: TrendsTurbo
- Founded: In business for the past decade
- Country: St. Vincent and the Grenadines
- Broker Services: Forex, indices, metals, energies, futures, shares
- Regulators: Broker operational in St. Vincent and the Grenadines
- Bonus: No
- Minimum Deposit: $250 – depends on account
- Leverage: Up to 1:400 – depends on account type
- US Clients: No
- Funding Methods: credit/debit cards, wire transfer
- Platform: MetaTrader 4
- Dealing Desk: STP
- Web Based: Yes
- Mobile Trading: Yes
Broker Test: Our TrendsTurbo Experiences
On the whole, this is a strong broker with a wide range of features on offer. The sliding scale of account types allows for the trader to choose their ideal amount of leverage and combine it with the right minimum deposit and spread fees for their needs. The variety of asset classes on offer is also helpful, as it gives traders a strong degree of choice.
The broker does let itself down slightly when it comes to trading platforms, as there’s no MetaTrader 5 on offer. There is, however, the option of using MetaTrader 4. Furthermore, some traders that are yet to sign up with the broker may also be unhappy at the absence of any education section.
Trading Conditions: Dependent Largely on Account Type
- Range of spreads
- No commissions charged
- Variety of conditions dependent on account type
Trading conditions at this broker are determined largely by account type, and traders are likely to want to look over all of the different account types before deciding which to opt for. A common factor across the different account types is the presence of a spread model. This means that the price paid by the user for each transaction will be determined by working out the difference between the sell price and the buy price and then charging a proportionate amount of that.
Bronze account holders will be able to secure spreads that begin at a relatively uncompetitive price of 2.8 pips. Spreads do get tighter the further up the account hierarchy you go, with Silver account holders able to enjoy spreads of a minimum of 2.5 pips. Gold accounts, meanwhile, will be able to gain access to spreads beginning at 1.5 pips. Platinum account holders, though, have by far the best spreads – starting at just 0.1 pips. Commissions are not charged – or available – with any of these account types, which means that any traders who wish to trade on that basis will have to find a different broker.
Many currency pairs with the broker enjoying fairly competitive spreads – like 0.5 pips on the AUD/USD pair. Again, though, the exact amount paid will depend on account type choice.
Underlying Assets/Trading Platform Offering: Lots of Choice Available
One of the particular strong points of TrendsTurbo is that it offers a host of CFD assets, which track underlying assets available to trade. This broker offers its assets on a contracts for difference basis, which means there is a chance to trade with leverage. Once again, the amount of leverage available varies depending on the account type chosen. Holders of Bronze accounts can pick up leverage rates of 1:100, while those with Silver accounts can access rates of 1:200. Gold accounts can enjoy leverage rates of 1:300, while Platinum account holders can enjoy rates of 1:400.
In terms of the actual assets available, traders may want to begin by looking at the extensive list of foreign exchange pairs on offer. TrendsTurbo offers hundreds of such pairs to pick from.
As a multi-asset broker, TrendsTurbo also has a wide variety of other asset classes on offer. There are, for example, indices. At this broker, it’s possible to trade stock indices from areas around the world. These include the Dow Jones, S&P 500, FTSA, NASDAQ and more.
In addition, there are a range of metals available at the broker – such as copper, silver and platinum. Traders who want to deal in energy CFDs can opt for Brent and WTI crude oil, while futures and shares are also available.
Order Features of the Trading Platform: Four Different Choices to Pick From
The order features at TrendsTurbo are powered by MetaTrader 4. While this is not quite as sophisticated as the latest iteration of the platform, MetaTrader 5, it does bring with it a number of top order features.
These features include ‘buy stop’, which allows the trader to open a position once a certain price point has been achieved. ‘Buy limit’, meanwhile, gives the trader the chance to open a position once it goes under a certain level. The ‘sell stop’ function is there to allow traders to close the position if it goes under a particular price point. And there’s a ‘sell limit’ function available, too.
TrendsTurbo traders can benefit from MetaTrader 4 in the following format – terminal, mobile, web and MacOS.
Analysis Features of the Trading Platform: Various Technical Indicators and More
Aside from order features, MetaTrader 4 has a number of other helpful services which can make a trader’s life easier. To start with, there are around 30 built-in indicators for technical analysis purposes on the MT4 platform – making it ideal for those who need a robust analytical system. There are also over 2,000 custom indicators on the platform, which are made available free of charge. There is no chance to use these indicators, meaning they will not eat into any profits you might make or capital you might need to use.
As mentioned above, it’s worth noting that traders can perform analysis using their preferred devices thanks to TrendsTurbo’s cross-platform commitment. As well as desktop platforms, it’s possible to download a version of MetaTrader 4 that can be used on a mobile device – and compatibility with both the Apple Android operating systems is available.
Regulation, Deposit Guarantee, and Risk Limitation: No Clear Regulator in Place
Although the name of the broker is TrendsTurbo, it is, in fact, owned by a company named KMA Group LLC. The registration number of this organisation is 918 LLC 2021.
The broker takes a positive approach to many aspects of regulation and has a wide variety of policies designed to help traders make risk-balanced trading decisions. One of these documents is a ‘risk warnings document’, which outlines the problems a trader could face from a risk perspective. Another is an anti-money laundering document, which is designed to explain what steps the broker takes to reduce the chances of money laundering criminals acting on the platform.
TrendsTurbo operates in St Vincent and the Grenadines. On the specific issue of regulation, there is no prominent information available about whether or not the broker is regulated – and, if so, by which regulator. As mentioned above, the company that owns the broker claims to be designated and has a registration number. But there is no clear information about the role of any regulator. This could pose problems for some traders: the absence of any regulatory framework could lead to lower trust in the broker, as it could mean fewer protections are in place.
There does not appear to be any deposit guarantee system in place, and this is not mentioned in the terms & conditions. On the risk limitation front, the main defense against this appears to be a risk warning, which is carried prominently at the bottom of the trader’s website. This points out that leverage is a risky tool and that it could cause increased loss.
Risk management tools are also available in MetaTrader 4, so it’s possible for a trader to defend themselves against risk while they are in the trading environment.
Automated Trading: Expert Advisors Available
There are some options for automated trading on the MetaTrader 4 platform. These include what are known as ‘Expert Advisors’, which are essentially robots that can trade on your behalf according to sets of specified rules. The MetaTrader 4 environment allows traders to build their own robo-trading tools from scratch and then tweak them until they are working best for them. TrendsTurbo supports this functionality.
It’s worth noting that those who develop their own Expert Advisors can share the tools that they develop. It’s possible for traders to publish the Expert Advisor tools they create in what is known as the ‘Code Base’ for free sharing, while a secondary income stream can be set up by selling these items in the market.
Account Opening and Minimum Deposit: Simple Process and Lots of Choice
The account opening process at this broker is relatively simple. A trader will need to head to the ‘Start Trading’ button on the homepage, and from there, they will need to provide information in a registration form. This includes first name, surname, email address and other key details.
There are a number of further steps that will need to be taken, such as agreement to a set of terms & conditions and the submission of documents that demonstrate your identity. These documents include a passport, a government-released driving license or a military ID card. Proof of address is also required. This information is collected by TrendsTurbo as part of a push to adhere to ‘Know Your Customer’ rules.
When it comes to minimum deposits, the amounts that traders will need to put down in order to kick off their TrendsTurbo career will vary depending on the account type that they select. Those who set up a Bronze account will need to lay down a minimum deposit (or ‘minimum investment’, as this broker calls it) of $250. Silver account holders will need to place $2,000.
Gold account holders can trade with a minimum deposit of $10,000, while Platinum account holders can trade using a deposit of at least $50,000. It’s important to note that the minimum deposit level goes up in inverse proportion to the spread level. The higher the deposit level at TrendsTurbo, the lower the spread required – so there is certainly a trade-off to be acknowledged.
The Broker and Its Competitors: Advantages and Disadvantages Compared to Others
Placing the broker into a wider context is at times difficult given the sheer number of points at which the company can be compared to others. The spread fees on offer, and the leverage rates available, are not the most competitive – but they are certainly better than some other brokers, who hike up spread fees and offer limited opportunities for margin trading.
Another positive of this broker compared to others on the market is that it is multi-asset in nature. This means that traders who wish to combine two asset class approaches can do so. If you want to open some foreign exchange currency pair positions, but you’re also interested in exploring the energies market, you can do so here without necessarily having to set up accounts at separate brokers. This is what would need to happen if you used single asset, specialist brokers.
Unlike some other brokers in the field, TrendsTurbo permits its traders to use techniques such as scalping. News trading is also permitted.
There are, however, some areas in which the broker lets itself down compared to its competitors. It does not have many translation options on its website, which is a real challenge for those who are looking to use the site in languages other than English or German.
Finally, advanced traders may be disappointed to note that this broker does not offer the MetaTrader 5 platform. This is the latest version of MetaTrader – and while it has a number of overlapping features with MetaTrader 4, there are some features that can only be used in the latest version. These include the number of timeframes – MetaTrader 4 has nine timeframes for analysis, while MetaTrader 5 has 21. In MetaTrader 4 it’s possible to use four different types of order; in MetaTrader 5 there are six different types. These differences might not be salient for most users of the platform – but for those who want the diversity of choice, TrendsTurbo might not be the right option.
Additional Services and New-Customer Offers: A Range of Extra Services for Traders
There are a number of extra features and services that this broker offers customers, no matter what type of account they hold. First off, the range of potential trading sizes at this broker is large and hence diverse. It can begin at 0.01 lots and can rise as high as 50 lots – and that applies across all account types. Similarly, this broker also allows for the number of positions that are open at any one time to be unlimited, and there are stop-out levels of around 5% in place.
Helpfully, the broker also offers a personal account manager to any traders who need the service. It’s important to note that details of this account management option are not entirely clear, and those who want to find out more about this can do so by contacting the broker and exploring the options.
It does not appear that the broker provides new customer offers. However, these may be offered in the future – so it’s worth keeping an eye on the broker’s website to find out more.
Customer Service and Website: Some Translation Options, Customer Service Available
The TrendsTurbo website is laid out in an intuitive and useful way. The main menu options are organised along the top of the page and include a breakdown of account types, a subsection focusing on the details of the company, another for details of the platform, and more.
Once you have signed up, it’s possible to trade from your web browser using the MetaTrader 4 web trading platform. This is an ideal option for those who want to access and experience most of the same features as the downloaded terminal version but who do not want to commit to software installations or similar.
The TrendsTurbo website can also be translated, although the range of language options are slim. Only English and German are available.
In terms of customer service, traders at this broker are able to take advantage of a wide variety of contact methods. It’s possible, for example, to email the broker. The stated email address is listed as [email protected]
Those who wish to call the broker can do so by calling +447441426892. It’s also possible to get in touch with the broker by post, and its address is listed as First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.