Turing is a Contract for Difference (CFD) broker, founded in 2024, with its official website at turingfx.pro. This trading platform is registered with the Financial Crimes Enforcement Network (FinCEN) in the United States and primarily provides investors with CFD trading services across a multitude of markets, including foreign exchange, precious metals, and cryptocurrencies.
Enterprise Services
Account Types
turingfx.pro offers users both demo and live trading accounts. The live trading account provides a trading leverage of 1:400, with a minimum deposit of 1,000 USD. It also offers access to over 50 trading products as well as 24/7 customer support.
Trading Platform
turingfx.pro claims to offer the TradingView trading platform on both web and mobile versions. However, upon clicking the link for the web-based trading program provided by the site, it redirects to its proprietary trading platform. The Google Play download link shows PaySync as the trading platform, whereas the App Store link displays Invx Lite.
Deposit and Withdrawal Methods
turingfx.pro allows users to deposit and withdraw funds via Tether or bank transfer without incurring any deposit fees.
Social Media and Contact Information
Users can only contact the broker through the official email provided by turingfx.pro, as there are no other contact methods available. Additionally, the broker does not have channels on social media platforms like Facebook, Instagram, or Twitter.
Company Background and Regulation
Company Background
According to public information on turingfx.pro, Turing is a brokerage company operating globally, comprising two corporate entities—Turing Capital Group Limited and Turing Limited. Among them:
Turing Capital Group Limited is a financial services company registered with FinCEN in the United States, with MSB number 31000281915017. Turing Limited is a company registered in the United States with registration number 25526.
Regulatory Verification
Upon verification, FinCEN reveals registration information for Turing Capital Group Limited, showing its registered address as London, United Kingdom. The UK Companies House verifies this company's registration number as 15980382, but there is no regulatory information found on the Financial Conduct Authority (FCA) website.
Additionally, due to the lack of specific details regarding Turing Limited's registered address, the exact state of registration in the United States is unknown, casting doubt on its authenticity. Moreover, the Financial Industry Regulatory Authority (FINRA) website does not list this entity's registration information.
Tips:FinCEN does not directly regulate forex, precious metals, or cryptocurrency derivative trading. It is primarily responsible for establishing and enforcing Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations, thus it indirectly monitors businesses involved in these transactions, especially where fund transfers or financial services are concerned.
Summary
Traderknows advises investors that turingfx.pro is not subject to direct and effective regulation by financial regulatory agencies, indicating a potential risk in trading on this platform. Investors should carefully consider choosing brokers that are legally regulated and transparent to avoid financial losses and minimize investment risks.
Risk Warning: As CFD trading involves leverage, even small market fluctuations can result in significant losses. Therefore, investors should fully understand the risks and trading mechanisms involved before engaging in such operations and ensure they have the capability to handle potential losses.
