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The WikiFX Score of this broker is reduced because of too many complaints!

TenX Prime

Australia|2-5 years|
Regulated in South Africa|Financial Service Corporate|MT4/5 White Label|Regional Brokers|Suspicious Overrun|High potential risk|

https://tenxprime.com

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
TenXPrime-DEMO MT4
Server Location France

Contact

support@tenxprime.com
https://tenxprime.com
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Broker Information

More

Company Name

TenX Prime LTD

Company Abbreviation

TenX Prime

Platform registered country and region

Australia

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 2
Previous Detection : 2024-02-24
  • The number of the complaints received by WikiFX have reached 7 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • This broker exceeds the business scope regulated by South Africa FSCA(license number: 52035)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

WikiFX Verification

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Expose

    TenX Prime · Company Summary

    TenX Prime Basic Information
    Company Name TenX Prime
    Founded 2020
    Headquarters Australia
    Regulations ASIC, FSCA (Exceeded)
    Tradable Assets Forex, commodities, cryptocurrencies
    Account Types TenX MT4
    Minimum Deposit $25
    Maximum Leverage 1:500
    Spreads Starting from 0.1 pips
    Commission No explicit commissions
    Deposit Methods Instant Bank Transfer, Wire Transfer, Bitcoin, VISA
    Trading Platforms MetaTrader 4 (MT4)
    Customer Support Email, Phone
    Education Resources Limited information available
    Bonus Offerings 50% bonus on every deposit

    General Information

    Founded in early 2020, TenX is allegedly a broker incorporated in Saint Vincent and the Grenadines that provides its clients with the worlds most popular MetaTrader4 trading platform, leverage up to 1:500, low spreads and no commissions on various tradable assets and 24×7 live chat customer support service. TenX Prime offers a diverse range of trading instruments, including 35 currency pairs, gold and silver, three energies, and 30 cryptocurrencies. The platform also provides multiple deposit and withdrawal options for convenience.

    basic-info

    Is ForexMart Legit?

    ForexMart is currently regulated by the Australia Securities & Investment Commission (ASIC, Regulation No.001300934) and Financial Sector Conduct Authority (FSCA, Regulation No.52035).

    However, the current regulatory status of FSCA is marked as “Exceeded.” This indicates that TenX Prime has surpassed certain regulations or requirements set by the regulatory authority. It's important to note that regulatory statuses can change, and it is recommended to stay updated on the latest regulatory information and ensure that TenX Prime remains within a compliant regulatory framework before engaging in any financial transactions.

    regulation

    Pros and Cons

    When considering TenX Prime as a trading platform, it's essential to weigh its advantages and disadvantages. Here is a brief summary of the pros and cons of TenX Prime to help you make an informed decision.

    Pros Cons
    Diverse range of trading instruments Current regulatory status of FSCA marked as “Exceeded”
    Low minimum deposit requirement Limited information on educational resources
    Generous leverage up to 1:500 Limited community support
    MT4 trading platform offered Non-trading fees not explicitly mentioned
    Multiple deposit and withdrawal options Limited trading instruments
    No educational contents

    Market Instruments

    Account Types

    There is only one live trading account type offered by TenX, apart from demo accounts, namely TenX MT4. Opening a TenX MT4 account requires the minimum initial deposit amount of only $25.

    Account

    How to Open an Account?

    1. To open a Forexmart account, navigate to the ForexMart website home page and select one of three options “Trade With Us” or “Open a Trading Account”

    2. Fill in your personal information, register your account and get verified

    3. Select types of account and open live trading accountProceed to deposit funds to your account

    4. Make your deposit & start trading

    Leverage

    TenX Prime provides varying leverage ratios for different trading instruments. The leverage options are as follows:

    - Currency pairs: The leverage ratio for currency trading is 1:500, allowing traders to control larger positions in the forex market. However, for the ZARJPY currency pair, the leverage ratio is set at 1:100.

    - Metals: Traders can access the metals market with a leverage ratio of 1:200. This enables them to amplify their exposure to precious metals like gold and silver.

    - Energies: For energy trading, TenX Prime offers a leverage ratio of 1:100. This allows traders to take advantage of opportunities in commodities such as oil and natural gas.

    - Cryptocurrencies: TenX Prime provides a leverage ratio of 1:25 for cryptocurrency trading. Traders can leverage their positions to capitalize on price movements in the volatile cryptocurrency market.

    It's essential for traders to understand the implications of leverage and manage their risk effectively. While leverage can increase potential profits, it also magnifies the potential losses. Traders should employ proper risk management strategies and have a thorough understanding of leverage before engaging in trading activities.

    Spreads & Commissions

    TenX Prime claims that it offers spreads starting from as low as 0.1 pips. The spreads are floating, meaning they may vary depending on market conditions and liquidity.

    In terms of commissions, TenX Prime operates on a no-commission model. This means that traders are not charged any explicit commissions on their trades. Instead of commissions, the broker may apply a spread markup to the quotes provided. This spread markup is designed to cover the costs and services provided by TenX Prime.

    It's important for traders to keep in mind that spreads and commissions may vary across different trading instruments and account types. It is recommended to review the specific spread and commission details provided by TenX Prime for each instrument before initiating trades.

    Non-Trading Fees

    TenX Prime prides itself on offering no swaps, meaning that traders do not incur overnight interest charges when holding positions overnight. This feature can be particularly beneficial for those who prefer to avoid or are restricted from participating in swap-based transactions.

    However, it's worth noting that there may be other non-trading fees associated with TenX Prime's services that are not explicitly mentioned or detailed on their website. These fees could include charges related to account maintenance, inactivity, or certain payment methods.

    Trading Platform Available

    When it comes to trading platforms available,TenX gives traders the worlds most widely-used MetaTrader4 platform. There are three different versions: MT4 Desktop, MT4 Mobile and MT4 Web. MT4 is known as one of the most successful, efficient, and competent forex trading software, featuring automatic monitoring, advanced charts and live analysis. While with MT4 Mobile, trading can be done from anywhere and at any time through the right mobile terminals such as Android and Apple iOS devices.

    Trading
    Trading

    Here is a comparison table of trading platforms offered by different brokers:

    Broker Trading Platform
    TenX Prime MT4
    FxPro MT4, MobileTrading, MT5, cTrader
    RoboForex cTrader, MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader
    Pocket Option Pocket Option, MT5
    Tickmill MT4, MT5, Tickmill Mobile App
    EXNESS Group Exness Trade Terminal, MobileTrading, MT4, MT5, WebTrader
    AMarkets MT4, MT5

    Deposit & Withdrawal

    TenX Prime offers convenient deposit and withdrawal methods to its clients. For deposits, options such as Instant Bank Transfer, Wire Transfer, Bitcoin, and VISA are available. There are no minimum deposit amounts, and no commission is charged. Deposits are executed promptly, with some methods providing instant execution within minutes.

    Regarding withdrawals, clients can use the same methods: Instant Bank Transfer, Wire Transfer, Bitcoin, and VISA. There is no minimum withdrawal amount, and no commission is applied. Clients can expect a smooth and fee-free withdrawal process.

    payment-methods

    Here is the comparison table of minimum deposit required by different brokers:

    Company Minimum Deposit
    TenX Prime $25
    FxPro $100
    RoboForex $10
    Pocket Option $50
    Tickmill $100
    EXNESS Group $1
    AMarkets $100

    Customer Support

    TenX Prime values the satisfaction and support of its clients. To ensure efficient customer service, clients can contact the support team via email at support@tenxprime.com. Additionally, clients can reach out directly by calling +61731033723.

    TenX Prime encourages clients to not hesitate in contacting them with any concerns or questions they may have. The support team is readily available to provide assistance and address client inquiries promptly.

    For clients who prefer physical correspondence, TenX Prime provides its location address as Unit G04/3 Sam Sing Street, Waterloo NSW 2017.

    Educational Resources and Community Support

    There is limited information about educational resources and community support on the TenX Prime website. However, traders can still reach out to TenX Prime's customer service for any inquiries or assistance they may need.

    Trading Tools

    TenX Prime offers an Economic Calendar, which allows traders to stay informed and up to date on scheduled dates of significant releases or events that could potentially impact the movement of individual security prices or the market as a whole. By consulting the Economic Calendar, traders can anticipate important economic announcements such as interest rate decisions, GDP releases, employment reports, and other key economic indicators that can influence market volatility and trading opportunities. Keeping track of these events can assist traders in making informed decisions and adapting their strategies accordingly.

    Bonus

    TenX Prime offers a 50% deposit bonus to traders, allowing them to trade with a higher margin. This bonus serves as an incentive for clients to deposit funds into their trading accounts and provides them with additional capital to enhance their trading opportunities. However, traders should be aware of the terms and conditions associated with the bonus, including any requirements for withdrawal. Overall, the 50% deposit bonus is a valuable feature that can benefit traders looking to increase their trading power.

    bonus

    Conclusion

    In conclusion, TenX Prime offers the advantage of being a regulated trading platform, providing traders with a sense of security. The platform is currently regulated by the Financial Sector Conduct Authority (FSCA), ensuring compliance with regulatory standards. However, the current regulatory status of FSCA is marked as “Exceeded,” indicating that TenX Prime has surpassed certain regulations or requirements. While the platform provides a wide range of trading instruments for diversification, it lacks comprehensive information on educational resources, community support, and non-trading fees. Traders should conduct thorough research and consider their specific needs before selecting TenX Prime as their preferred platform to ensure it aligns with their trading preferences and requirements.

    FAQs

    Q: Is TenX Prime a regulated financial services provider?

    A: Yes, TenX Prime is a regulated financial services provider. It is regulated by the Australia Securities & Investment Commission (ASIC) and the Financial Sector Conduct Authority (FSCA). However, the current regulatory status of FSCA is marked as “Exceeded.”

    Q: What is the minimum deposit required to open an account with TenX Prime?

    A: The minimum deposit required to open an account with TenX Prime is $25.

    Q: What is the maximum leverage offered by TenX Prime?

    A: TenX Prime offers a maximum leverage of 1:500 for forex trading. However, for the ZARJPY currency pair, the leverage ratio is set at 1:100. The leverage ratios for other trading instruments are as follows: 1:200 for metals, 1:100 for energies, and 1:25 for cryptocurrencies.

    Q: What deposit and withdrawal methods are available with TenX Prime?

    A: TenX Prime offers several deposit and withdrawal methods, including Instant Bank Transfer, Wire Transfer, Bitcoin, and VISA. These methods ensure convenient and prompt execution of transactions without any minimum deposit or withdrawal amounts.

    Q: What trading platform does TenX Prime offer?

    A: TenX Prime provides the MetaTrader 4 (MT4) trading platform, which is known for its advanced charting tools, live analysis features, and automated trading capabilities.

    News

    WikiFX Reviews TenX: Is It Trustworthy?

    ExposureWikiFX Reviews TenX: Is It Trustworthy?

    2023-10-19 17:45

    In this article, we will delve into TenX, scrutinizing its key features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service. WikiFX's objective is to equip you with the information necessary to make an informed decision about using this platform.

    WikiFX
    2023-10-19 17:45
    Exposure
    WikiFX Reviews TenX: Is It Trustworthy?
    WikiFX Review: Is TenX a reliable broker?

    ExposureWikiFX Review: Is TenX a reliable broker?

    2022-11-02 17:01

    TenX is allegedly a broker incorporated in Saint Vincent and the Grenadines. We wonder if this broker is reliable. A comprehensive review may help you find the answer.

    WikiFX
    2022-11-02 17:01
    Exposure
    WikiFX Review: Is TenX a reliable broker?

    User Reviews

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    9

    Comments

    Write a review

    杨欣雨
    more than one year
    Unfortunately, it does not provide demo account, and I guess I won’t easily give it a try without demo account. Do you guys have any advice? My colleague recommends it to me.
    2023-02-20 10:06
    1
    0
    0
    FX1226459765
    more than one year
    TenX is a nice broker, their accounts have very good conditions. Orders are implemented extremely fast and spreads are quite low there. I like the option that I can get a bonus per deposit. Thanks a lot.
    2023-02-15 14:03
    Reply
    0
    0
    FX1597986802
    more than one year
    Avoid, they take my deposit due to previous bonus.
    2023-01-30 15:00
    Reply
    0
    0
    Shahbaz bukhari
    more than one year
    I make profit CPI core CPI news trade first my balance not showing in my tenx scemer dashboard after 10 hours show balance I make widraw after 1 hour my account was disabled I am try to connecting from 3 hours no one reply me big scemer please stay away from this
    2023-01-13 17:29
    Reply
    0
    3
    毛宁4485
    more than one year
    I opened a demo account here. It turned out to be not difficult. The Metatrader4 trading platform is easy to learn and after a week I understood everything.
    2022-12-16 14:11
    Reply
    0
    1
    小鱼儿59826
    more than one year
    If you see a foreign exchange company registered in St. Vincent and the Grenadines, just close the website...they really aren't worth it. Even if you make a successful withdrawal, it may just be part of a Ponzi scheme!
    2022-12-16 11:13
    Reply
    0
    0
    刘宝齐
    more than one year
    This is good and will arrive
    2022-12-07 14:06
    1
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