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No valid regulatory information, please be aware of the risk!
General Information & Regulation
TENFX, a trading name of Tenfx Ltd, is allegedly a forex and CFD broker registered in Saint Vincent and the Grenadines that claims to provide its clients with over 150 tradable financial instruments with leverage up to 1:500 and floating spreads from 0.0 pips, as well as a choice of five different account types and 24/5 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that TENFX does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.18/10. Please be aware of the risk.
TENFX advertises that it offers access to more than 150 instruments in 100+ markets, covering share CFDs, forex, cryptocurrencies, indices, metals and commodities.
TENFX claims to offer five types of accounts, namely Individual, Join, Trust, Family and Institutional. However, the broker says nothing about the minimum initial deposit requirement to open an account.
The leverage provided by TENFX is capped at 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
TENFXs website claims that the spread starts from 0.0 pips and the commission from 0.08%.
Trading Platform Available
We were promised access to established platforms MetaTrader4 and MetaTrader5 but upon registering an account with TENFX we were just provided with a client area connected to TradingView.
In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
TENFX says to work with debit cards, cryptocurrencies and Skrill. The minimum initial deposit requirement is said to be only $50, while there is no mention of what the minimum withdrawal amount is.
TENFX claims to offer a 100% deposit bonus. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
TENFX‘s customer support can be reached by telephone: +44 7418 356 880, email: email@example.com, live chat or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube and Telegram. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
Platform registered country and region
Saint Vincent and the Grenadines
+44 7418 356 880
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