TurboXBT review – Scam or not? – Test of the broker
- Crypto trading
- No hidden fees
- $ 1,000 demo
- No KYC!
- Innovative platform
With so many binary options brokers out there, it can be difficult to find the right one. We all know that every platform claims to be the best and to offer good trading conditions.
As a trader, it can be hard to avoid being taken in by the hype and get an objective assessment of how good a broker really is. In this article we will take a closer look at the broker TurboXBT. Is it a good platform? What features and services does it offer? What are the payouts and potential profits? You will find the answers in this review.
Quick facts about TurboXBT:
|⭐ Rating:||(4 / 5)|
|⚖️ Regulation:||✖ (not regulated)|
|💻 Demo account:||✔ (available, unlimited)|
|💰 Minimum deposit||1$|
|📈 Minimum trade:||1$|
|📊 Assets:||38+, including 3 incides, 4 commodities, 8 forex pairs, 2 cryptocurrencies and more CFD assets|
|📞 Support:||24/7 phone, chat, email|
|🎁 Bonus:||No bonus available|
|⚠️ Yield:||Up to 90%+|
|💳 Deposit methods:||Only cryptocurrency deposits are available on TurboXBT|
|🏧 Withdrawal methods:||Only cryptocurrency deposits are available on TurboXBT|
|💵 Affiliate program:||Available|
|🧮 Fees:||Commissions and spreads apply. No hidden fees.|
|🌎Languages:||English, Chinese, Russian, Czech, Filipino, Arabic, and Afrikaans|
|🕌 Islamic account:||Not available|
|📍 Headquarter:||Mahé, Beau Vallon, Seychelles|
|⌛ Account activation time:||Within 24 hours|
What you will read in this Post
Features of the TurboXBT platform
TurboXBT is a digitized trading platform where financial products are traded on a short-term contract to make a profit. They are referred to as the next-generation online trading platform for short-term trades designed for both experienced and inexperienced traders.
Users on this platform predict the direction of trade using synthetic short-term trading contracts without owning the underlying assets and these contracts expire within a 30-second to 15-minute time frame, depending on the trade chosen.
This basically means that users on this binary broker platform predict or choose a trade, the direction of the trades on the market (up or down), and the time frame for the trade.
This trading platform offers up to 90% profit in a single trade and 24/7 customer service support. Users can also trade in 16 different languages, including English, French, Spanish, German, Italian, Portuguese, Hindi, Vietnamese, Indonesian, Turkish, Russian, Chinese, Japanese, Thai, Bengali, and Korean.
Some distinctive features of this platform include;
- Trades are free of commission
- Choice of Predicting Prices
- Speed and Profits
- Limited variety of trading pairs and assets
- CFD trading
- Active online customer service
The only information required when opening an account on this platform is the user’s email and password, which are confidential. While this offers ease to new users, it also makes this platform prone to fraudulent transactions. Customers are advised to double-check the details of every transaction before they proceed.
Trades are free of commission
This platform offers quick and highly responsive trades with no commission. Their service is easy and stress-free and they also offer a user-friendly environment for beginners and experienced users.
Choice of predicting prices
Investors or traders are given the choice of predicting the possible outcome of trades i.e either falling or rising. The price of assets can either rise or fall giving investors a 50/50 chance of winning or losing.
If a trade goes in the direction of the trader’s prediction, the trader makes a profit but if it goes contrary to the trader’s prediction, he takes a loss. Investors on this platform also make a choice of setting time duration for their trades ranging from 30 seconds to 15 minutes.
The pros and cons of TurboXBT:
Here, we will take a closer look at the pros and cons of TurboXBT. Keep in mind that every binary broker has its advantages and disadvantages. No platform is perfect. Nevertheless, TurboXBT does comparatively well and offers a good user experience.
- Free $10,000 demo account
- Minimum deposit of only $10
- Minimum trade amount $1, maximum trade amount $1,000
- High return up to 95%
- User-friendly interface
- Huge variety of trading assets
- Fast trade execution
- Instant deposits
- Fast and secure withdrawals
- Free bonus
- Available in many countries and languages
- No phone-support
- No iOS app is available at the moment
Is TurboXBT regulated? Regulation and security of the broker
Security measures are crucial to the safety of your money when it comes to binary trading. Naturally, you’ll want to trade with a binary broker that protects you from being ripped off and makes you feel safe. I can tell you this from experience: TurboXT goes to great lengths to ensure that its players are safe. As far as the security of the platform itself and you as a trader on it is concerned, there is no need to worry.
The regulation of a binary broker is also an important rating factor. Unfortunately, TurboXBT is not regulated, which is why we cannot give it a full 5 out of 5 stars. Nevertheless, it is a trustworthy broker that is reliable and all withdrawals work without any problems.
See all facts about the security:
|Regulated payment methods:||Yes, available|
|Negative balance protection:||Yes|
Speed and Profits
Investors on this platform can make up to 90% instant profit on a single trade that goes in favor of his prediction in a 30-second time frame considering that it focuses on short-term contracts.
The services of this platform are fast allowing traders to move in and out of positions quickly. The absence of KYC also helps to speed up transactions. Users should also be cautious and bear in mind that they can also lose their entire initial investments in a 30 seconds time frame if the trade goes contrary to their predictions.
Limited variety of trading pairs and assets
The TurboXBT platform offers a limited variety of 38 trade pairs and 17 assets only for trading transactions.
There are 38 trading pairs available on TurboXBT.
- They offer just 3 indices for trade i.e S&P500, NASDAQ, and GER30
- They offer 4 commodities i.e Crude oil, Brent, Gold, and Silver.
- They offer 8 forex currencies i.e USD, NZD, JPY, AUD, GBP, CHF, CAD, and EUR.
- They also offer 2 cryptocurrencies for trade i.e Ethereum and Bitcoin.
Investors are offered the opportunity to trade on CFD which has very high price volatility. Investors are advised to only invest expendable amounts in this type of trade.
Although CFD trading offers great profits from successful trade predictions and executions, the opposite would lead to a loss of initial capital invested in the trade.
Active online customer service
This platform offers 24/7 customer service to its customers. Their customer service platform also offers a live chat button on their website where customers can speak directly with one of the platform’s representatives to make queries or ask for assistance.
Customers can also reach the customer support team through their social media pages and blogs.
Regulations of the TurboXBT platform
The lack of crypto-friendly laws has driven most trading companies to friendlier environments and TurboXBT operates out of St. Vincent and the Grenadines, which is a blockchain-friendly jurisdiction. This also means that there is an absence of Tier-1 authority regulating TurboXBT.
Due to its lack of regulations, licenses, and accreditation, this platform does not support clients in Japan, Algeria, Ecuador, Iran, Syria, North Korea, Canada, the United States, Sudan, Russia, and some islands in the United States.
Although there is a growing concern about its lack of regulations and licenses, this is a good trading platform that supports short-term trading services of assets like forex pairs, indices, and cryptocurrencies.
The TurboXBT platforms assets and trading offers
The platform supports the trading of assets such as:
- Forex currencies
This platform offers users the choice of trading on commodities like gold, silver, crude oil, and brent which are some of the most popular commodities globally and can yield a great profit if the trade goes in line with the prediction of the trader.
Users on this platform are only allowed to trade but not claim ownership of these commodities. Customers on this platform place their predicted trade on these commodities and the time frame for the trade. If the trade goes in line with a prediction, the customer makes a profit from the trade depending on the time frame chosen. If the trade goes contrary to his prediction, he takes a loss of his initial investment.
Trading on forex currencies remains the leading capital market globally with trillions of transactions carried out daily.
This platform offers its users access to eight different forex trading pairs and including; The United States Dollar (USD), The Euro (EUR), The British Pound (GBP), the Swiss Franc (CHF), the Australian Dollar (AUD), New Zealand Dollar (NZD), Japanese Yen (JPY), and the Canadian Dollar (CAD).
Users on this platform are granted access to forex currencies five days a week and 24|7.
Another leading market globally is the cryptocurrency market, whose assets have broken into the limelight and are widely accepted by financial institutions around the world.
Traders investing in cryptocurrencies have the opportunity of making massive returns even in the short term due to the volatility of the market.
This platform only offers Bitcoin and Ethereum for trade and these coins currently dominate the cryptocurrency market and are very popular around the world.
This platform offers traders the opportunity to trade on the most popular indices like NASDAQ, S&P 500, and GER 30. Indices trading allows the trader to avoid stock risk and also allows the trader two methods of trading; either shorting or going long. A trader uses the shorting method when he predicts the fall of a trade and the going long method when he predicts the rise or increase of trade.
Here is an overview of the trading offers of TurboXBT:
|Minimum trade amount:||$ 1|
|Trade types:||Binary Options, digital options|
|Expiration time:||60 seconds up to 4 hours|
|Maximum return per trade:||90%+|
|Execution time:||1 ms (no delays)|
Opening an account on TurboXBT
Opening an account on the TurboXBT platform is very easy. To start, follow the steps below;
- Go to the Homepage of the TurboXBT platform and click on “open account”
- Fill in your details and confirm your email
- Once you finish the process, the interface of the newly opened account shows $0 until the user funds his account or makes a deposit (low deposit binary brokers)
- New or inexperienced users may decide to practice by opening a demo account.
Most online trading platforms offer the use of a demo account to beginners, inexperienced and professional users for learning and practicing strategies, and this platform is not an exception. To begin with, a demo account, follow the steps below;
- After creating a new account, the option for a demo account becomes available
- The TurboXBT demo account offers up to $1000 in fake virtual money for cryptocurrency, commodities, indices, and forex trading.
- New users can use the demo account to practice trading and learn how to use the platform properly.
- Experienced users can also use the demo account to practice new strategies.
One of the most distinctive features of this platform is the minimum deposit of $1. Most trading platforms have a very high minimum deposit. Deposits on the TurboXBT can only be done using cryptocurrencies. The platform supports deposits through ETH, BTC, USDC, and USDT respectively and no extra charges are placed on deposits.
Once a trader funds his account with cryptocurrency and it is confirmed, he can change or convert the money to any currency of his choice. Trading can be done immediately when the deposit is confirmed due to the absence of KYC protocols.
On this platform, withdrawals are also made through cryptocurrencies like BTC, USD, and Ethereum. They usually take a lot of time and are processed between 12:00 and 14:00 UTC every day. No extra charges are placed on withdrawals.
Advantages of trading on TurboXBT platform
The TurboXBT platform offers users from different countries the option of trading using 16 different languages, and trades are placed and executed very fast.
There is no fixed amount for minimum or maximum deposit, and traders can make up to 90% profit on a single trade depending on the asset or currency pair traded on.
There is no extra charge on deposits and withdrawals except for the Blockchain network fee and they offer convenient deposit methods which can be done through BTC, USD, or ETH.
This platform offers a beginner-friendly environment with the use of a demo account which helps new users get used to the platform and practice trading. The demo account also helps already existing users practice new strategies before implementing them on their real accounts to avoid making losses.
One of the downsides of this platform is the limited variety of assets to trade on, thereby limiting a trader’s choices.
Another downside of this platform is the acceptance of only cryptocurrency for withdrawals and deposits.
TurboXBT platform is limited to users in Canada, Russia, Japan, the United States, and other regions as well.
Comparison of TurboXBT with other binary brokers:
TurboXBT is a good binary broker that offers many advantages. Traders receive a free demo account that is valid without restrictions. The platform is available in many different languages. Besides, the user interface and the ease of use are also convincing. There are many helpful tools and functions for the technical analysis of charts. Unfortunately, TurboXBT offers comparatively few assets to trade with and there is no bonus. Wrapping it up, TurboXBT still scores a good 4 out of 5 stars in our review.
|1. TurboXBT||2. Pocket Option||3. IQ Option|
|Return:||Up to 90%+||Up to 93%+||Up to 100%+|
|Advantages:||Free and unlimited demo account||Offers 30-second trades||Offers CFD and forex trading as well|
|Disadvantages:||Does not have many assets to trade with||High minimum deposit of $ 50||Not available in every country|
|➔ Sign up with TurboXBT||➔ Visit the Pocket Option review||➔ Visit the IQ Option review|
Conclusion: TurboXBT is a new and innovative platform!
Judging from the benefits, which clearly outweigh its drawback, the TurboXBT platform is highly regarded because of its speed, ease of use, and user-friendly environment.
The demo account options offer beginners the opportunity to make predictions and practice trades, thereby giving them the courage to open a real account and start their trading journey. The demo account can also be used by professional or expert traders to practice various strategies before implementing them in a real account to avoid encountering losses.
The short-term trading contract also offers users the opportunity to make a profit over a short time frame by predicting a trade correctly and setting the right time frame for the trade in a stable, simple, and beginner-friendly environment.
The TurboXBT platform offers 99% reliability and durability during times of high market volatility, unlike so many other trading platforms, which increases the chances of earning up to 90% profit daily on accurate trade predictions.
Most asked questions (FAQs) about TurboXBT:
Is TurboXBT suitable for beginners?
This platform is suitable for beginners as they offer the opportunity to practice trading with a demo account and a minimum deposit of $1 to fund a real account for short-term trades.
The demo account offers the chance to learn how the TurboXBT platform works, know how to use leverage, develop strategies, and learn how to trade freely without financial risks.
How much money can I make on TurboXBT?
The profits made on trade depend on the type of asset or currency pair traded, knowledge of the price trends on the trade, and the successful predictions made. A trader can make up to 90% profit from a correct prediction on a single trade within a specific time frame.
How do I receive payouts from a successful trade prediction?
Profits made on successful predictions are credited to a trader’s account which can be withdrawn using BTC, USD, and Ethereum.
Can I cancel a trade?
Once a market is open and predictions are made on trade within a set time frame, the trade cannot be canceled.
Is TurboXBT legit?
Yes, TurboXBT is a legitimate platform. In our test, we were able to cash out the profits without any problems. However, it should be noted that the platform is not under proper regulation. That is among the reasons why it is banned in many countries, including Japan, North Korea, Canada, USA, Russia and Sudan. But the fact that the platform is not regulated does not mean that it is a scam. In our experience, TurboXBT is reliable when it comes to deposits and withdrawals. The trading platform also offers many helpful functions and indicators, making it a solid broker to trade with.
What is TurboXBT?
TurboXBT is a trading platform that offers the possibility to make money in the financial markets. Many financial products can be traded on the platform. It is also called to be a next-generation trading platform, as TurboXBT is designed for both experienced and novice traders. All around, TurboXBT does offer not only commission-free trading of binary options and CFDs, but also many other assets. It has good customer support and a user-friendly trading interface.