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TenTrade

Seychelles|5-10 years|
Retail Forex License|MT5 Full License|Regional Brokers|Seychelles Retail Forex License Revoked|Medium potential risk|Offshore Regulated|

https://tentrade.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
TenTrade-Server MT5
Server Location United Kingdom

Contact

info@ten.trade
https://tentrade.com/en/
23 Raith Avenue, Southgate, London N14 7DU, England
https://www.facebook.com/TenTradeGlobal/

Licenses

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

Single Core

1G

40G

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Contact number

Broker Information

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Company Name

Evalanch Ltd

Company Abbreviation

TenTrade

Platform registered country and region

Seychelles

Company website
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WikiFX Risk Alerts 4
Previous Detection : 2024-06-22
  • SeychellesFSA (license number: SD040) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • The CyprusCYSEC regulation (license number: 248/14) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The Seychelles FSA regulation with license number: SD040 is an offshore regulation. Please be aware of the risk!
  • The Seychelles FSA regulation with license number: SD082 is an offshore regulation. Please be aware of the risk!

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TenTrade · WikiFX Survey

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TenTrade · Company Summary

Aspect Information
Registered Country/Area Seychelles
Company Name TenTrade
Regulation Seychelles FSA
Minimum Deposit $50 - $300 (Depending on the account type)
Maximum Leverage Up to 1:500
Spreads Pro Account: From 1.2 pips, ECN Account: From 0 pips, Bonus Account: From 1.8 pips
Trading Platforms MetaTrader 5 (MT5)
Tradable Assets Forex, Energy Commodities, Indices, Shares, Crypto CFDs, Cryptos 24/7, NFTs
Account Types Pro, ECN, Bonus
Customer Support Email (support@tentrade.com), Social Media (Facebook, Instagram, Twitter)
Payment Methods Credit/Debit Cards (Visa, Mastercard), E-Wallets (Nganluong, Neteller, 4Cash), Bank Transfer (Sberbank)
Educational Tools TenAcademy (Various educational resources, webinars, seminars, workshops)
Website Status Operational

Overview

TenTrade, based in Seychelles, operates as a forex and CFD broker with a regulatory history that includes a revoked SeychellesFSA license (SD040) and suspicions surrounding its CyprusCYSEC license (248/14). The broker offers a range of account types, including Pro, ECN, and Bonus, with varying minimum deposit requirements and leverage options of up to 1:500. Spreads differ across account types, starting from 1.2 pips in the Pro account, while the broker provides access to the MetaTrader 5 (MT5) trading platform for trading forex, energy commodities, indices, shares, crypto CFDs, cryptos 24/7, and NFTs. TenTrade emphasizes trader education through TenAcademy and offers support via email and social media channels. Payment methods include credit/debit cards, e-wallets, and bank transfers. While the broker's website appears to be operational, traders are advised to exercise caution due to regulatory concerns and license-related suspicions, and further research is recommended before engaging in trading activities. It's important to note that offshore regulation may entail higher inherent risks, and specific commission fees are not provided.

Overview

Regulation

TenTrade holds two licenses for its operations, one from SeychellesFSA with license number SD040 and the other from CyprusCYSEC with license number 248/14. However, it is important to note that the regulatory status of the SeychellesFSA license (SD040) is currently abnormal, as it has been officially revoked. Additionally, there are suspicions that the CyprusCYSEC regulation (license number 248/14) claimed by this broker may be a clone. Both the SeychellesFSA regulations, including license number SD040 and SD082, fall under offshore regulations, which inherently carry higher risks. It is crucial for potential clients and investors to exercise caution and be aware of these regulatory issues and the associated risks when considering any dealings with TenTrade.

Regulation

Pros and Cons

Pros Cons
  • Diverse Range of Trading Products
  • Regulatory Concerns with Licenses
  • Multiple Account Types for Different Needs
  • Revoked SeychellesFSA License (SD040)
  • High Leverage Options
  • Suspicions Regarding CyprusCYSEC License (248/14)
  • Comprehensive Trader Education
  • Offshore Regulation with Higher Inherent Risks
  • Access to the MetaTrader 5 (MT5) Platform
  • Limited Information on Commission Fees
  • Multiple Payment Methods
  • Active Social Media Presence

TenTrade offers a range of advantages and disadvantages for traders to consider. On the positive side, the broker provides a diverse array of trading products, catering to various trading preferences. It offers multiple account types to accommodate different needs and experience levels and provides high leverage options. TenTrade also places a strong emphasis on trader education and offers access to the powerful MT5 platform. Additionally, it supports various payment methods and maintains an active social media presence. However, there are notable concerns, including regulatory issues with its licenses, especially the revoked SeychellesFSA license (SD040), and suspicions surrounding the legitimacy of the CyprusCYSEC license (248/14). Traders should exercise caution and conduct thorough due diligence when considering TenTrade for their trading activities.

Market Instruments

TenTrade offers a diverse range of trading products to cater to the preferences and needs of different traders. Here's a description of the trading products offered by TenTrade:

  1. Forex (Foreign Exchange): TenTrade provides access to the forex market, allowing traders to buy and sell currency pairs. Forex trading is popular for its high liquidity and potential for profit, as traders speculate on the exchange rate fluctuations between various currency pairs.

  2. Energy Commodities: This category includes trading opportunities in commodities related to energy, such as crude oil and natural gas. Energy commodity trading can be influenced by geopolitical events and supply-demand dynamics.

  3. Indices: TenTrade offers trading in stock market indices, which are composed of a basket of individual stocks. Traders can speculate on the overall performance of specific indices, like the S&P 500 or Dow Jones Industrial Average.

  4. Shares: TenTrade provides the ability to trade individual company shares, allowing traders to invest in specific companies' stock and potentially profit from their price movements.

  5. Crypto CFDs (Contracts for Difference): Traders can speculate on the price movements of cryptocurrencies without owning the actual assets through Crypto CFDs. This allows for both long and short positions in cryptocurrencies like Bitcoin, Ethereum, and others.

  6. Cryptos 24/7: TenTrade offers round-the-clock trading in cryptocurrencies, allowing traders to access the crypto market 24/7, which is unlike traditional financial markets that have specific trading hours.

  7. NFTs (Non-Fungible Tokens): TenTrade offers trading opportunities in Non-Fungible Tokens, which are unique digital assets often associated with digital art, collectibles, and other digital creations. NFT trading has gained popularity in the digital art and entertainment industries.

Market-Instruments

Account Types

TenTrade provides its clients with three distinct types of trading accounts to cater to various trading needs and preferences. Each account type offers different features and benefits to suit traders with varying levels of experience and trading goals. Here's a detailed description of these account types:

Pro Account:

  • Designed for Experienced and Professional Traders.

  • Minimum Deposit: $100.

  • Spreads: Starts from 1.2 pips.

  • Leverage: Up to 1:500.

  • Commission: Zero commission.

  • Supported Instruments: Forex, Cryptos, CFDs, and NFTs.

  • Platform: MT5 (MetaTrader 5).

The Pro account is tailored for seasoned traders who prioritize low spreads, high leverage, and fast execution. With a minimum deposit requirement of $100, traders can access spreads starting from 1.2 pips and leverage up to 1:500. The absence of commission makes it attractive for those who wish to minimize trading costs. This account type provides the flexibility to trade various financial instruments, including forex, cryptocurrencies, CFDs, and NFTs, all within the MT5 platform.

ECN Account:

  • Ideal for Traders Seeking Raw Spreads and Low Commission.

  • Minimum Deposit: $300.

  • Spreads: Starts from 0 pips.

  • Leverage: Up to 1:500.

  • Commission: $3.5 per lot per side.

  • Supported Instruments: Forex, Cryptos, CFDs, and NFTs.

  • Platform: MT5 (MetaTrader 5)

The ECN account is suitable for traders who prefer raw spreads and are comfortable with low commissions. A minimum deposit of $300 grants access to spreads starting from 0 pips and leverage up to 1:500. While there is a commission fee of $3.5 per lot per side, the overall trading costs may be competitive for those who appreciate the benefits of ECN trading. This account type allows trading in a wide range of instruments on the MT5 platform.

Bonus Account:

  • Geared Towards Low Spreads and High Leverage with Bonus Benefits.

  • Minimum Deposit: $50.

  • Spreads: Starts from 1.8 pips.

  • Leverage: Up to 1:500.

  • Commission: Zero commission.

  • Supported Instruments: Forex, Cryptos, CFDs, and NFTs.

  • Platform: MT5 (MetaTrader 5).

  • Bonus Program: Offers a 100% deposit bonus of up to $10,000.

The Bonus account is designed for traders who seek the advantages of low spreads, high leverage, and zero commission while also enjoying a generous bonus program. With a minimum deposit requirement of $50, traders can access spreads starting from 1.8 pips and leverage up to 1:500. This account type not only provides a cost-efficient trading environment but also offers a significant 100% deposit bonus, potentially doubling the initial deposit amount. Like the other account types, trading can be conducted on the MT5 platform across various instruments.

Leverage

TenTrade offers a maximum trading leverage of up to 1:500. This means that for every $1 in the trader's account, they can control a trading position of up to $500 in the financial markets. High leverage can amplify both potential profits and losses in trading, making it important for traders to exercise caution and have a solid risk management strategy when using such high levels of leverage. While higher leverage can provide the opportunity for larger positions, it also increases the risk of significant losses, and traders should be aware of the potential consequences of using high leverage in their trading activities.

Leverage

Spreads and Commissions

TenTrade offers different spreads and commission structures for each of its three account types:

Pro Account:

  • Spreads: The Pro account offers spreads starting from 1.2 pips. These spreads are relatively low, making it appealing to traders who prioritize tighter spreads for their trading strategies.

  • Commission: The Pro account has zero commission, meaning that traders are not charged any additional fees per lot traded. This can help traders reduce their overall trading costs.

ECN Account:

  • Spreads: The ECN account provides traders with spreads starting from 0 pips. These are raw spreads, which means they can be extremely tight and are often preferred by experienced traders seeking minimal price differences.

  • Commission: Traders using the ECN account are required to pay a commission of $3.5 per lot per side. This commission structure is common for ECN accounts and is separate from the spread cost.

    • Spreads: The Bonus account offers spreads starting from 1.8 pips. While these spreads are not as tight as those in the Pro and ECN accounts, they still provide competitive trading conditions.

    • Commission: Similar to the Pro account, the Bonus account does not charge any commissions. Traders can execute trades without incurring additional per-lot fees.

    • Bonus Account:

Deposit & Withdrawal

TenTrade offers a diverse range of payment methods for both depositing funds into trading accounts and withdrawing profits. Here's a description of the available deposit and withdrawal options:

Credit/Debit Cards: TenTrade accepts Visa and Mastercard for both deposits and withdrawals. The minimum deposit and withdrawal amounts are set at $10, with a maximum limit of $10,000 per transaction. Deposits made via credit/debit cards do not incur any deposit fees. However, it's important to note that withdrawal fees may apply depending on the policies of your bank or card issuer.

E-Wallets: Traders can use Nganluong, Neteller, and 4Cash for both depositing funds and withdrawing profits. The transaction limits for e-wallets are a minimum of $10 and a maximum of $10,000. Notably, deposits and withdrawals processed through e-wallets are typically free of charges, providing a convenient and cost-effective payment option.

Bank Transfer: TenTrade supports bank transfers using Sberbank. The minimum deposit amount for bank transfers is $100, and there are no predefined maximum deposit or withdrawal limits. Bank transfers typically do not incur any fees on the broker's side, making it a suitable option for larger transactions.

To initiate deposit or withdrawal transactions, traders can access their TenTrade accounts and navigate to the “Deposit/Withdrawal” section. Here, they can select their preferred payment method from the available options and follow the on-screen instructions. It's essential to be aware that processing times for transactions may vary depending on the chosen payment method and the specific banks or financial institutions involved in the process.

TenTrade's provision of multiple payment methods offers flexibility to traders, allowing them to select the most convenient and cost-effective option based on their individual needs and preferences.

Deposit-Withdrawal

Trading Platforms

TenTrade offers its clients access to the MetaTrader 5 (MT5) trading platform. MT5 is a powerful and widely recognized platform in the financial industry, known for its advanced charting tools, technical indicators, and customizable features. Traders can utilize MT5 to execute trades across a variety of financial instruments, including forex, cryptocurrencies, CFDs, and NFTs. The platform provides a user-friendly interface, real-time market data, and the ability to implement automated trading strategies through expert advisors (EAs). TenTrade's provision of MT5 ensures that traders have access to a robust and versatile trading platform to effectively manage their investments and execute trading strategies in the global financial markets.

Trading-Platforms

Customer Support

TenTrade's customer support is available to assist traders and address their inquiries or concerns. They can be reached through various channels:

  1. Email: Traders can contact TenTrade's customer support team via email atsupport@tentrade.com. This provides a written communication channel for traders to submit their questions or issues and receive a response from the support team.

  2. Social Media: TenTrade is also active on social media platforms such as Facebook, Instagram, Twitter, and others. Traders can potentially reach out to the broker through these platforms, though specific contact methods and response times may vary.

TenTrade's support office is located at CT House, Office No. 9A, Providence, Mahe, Seychelles. This physical address suggests a physical presence for the broker, which can be reassuring for traders.

While the availability of multiple contact channels is positive, it's essential for traders to consider response times and the effectiveness of customer support when evaluating a brokerage's services. Responsiveness and the ability to address traders' needs promptly and efficiently are crucial aspects of a broker's customer support quality.

Customer-Support

Educational Resources

TenTrade places a strong emphasis on trader education through its TenAcademy, which serves as an in-house trading school offering a comprehensive range of educational resources and opportunities. Here's a description of the educational offerings provided by TenTrade:

  1. Introduction to Forex Trading: TenTrade's educational program starts with the fundamentals of forex trading. This section covers the basics, including the history of the forex market, its structure, participants, advantages, and associated risks. Traders can gain a solid understanding of the foundational aspects of currency trading.

  2. Technical Analysis: The educational curriculum includes technical analysis, explaining the principles and methods used in analyzing market charts. Topics covered encompass chart patterns, technical indicators, oscillators, and various trading strategies, empowering traders with valuable tools for making informed trading decisions.

  3. Fundamental Analysis: Traders can delve into fundamental analysis, which explores the economic, political, and social factors influencing currency supply and demand. This includes factors such as interest rates, inflation, GDP, trade balance, and market sentiment, helping traders grasp the broader economic context affecting forex and CFD markets.

  4. Trading Psychology: Recognizing the significance of mental discipline in trading, TenTrade provides insight into the psychological aspects of trading. Topics covered include emotions, cognitive biases, discipline, and risk management, helping traders develop the mental resilience necessary for successful trading.

  5. Trading Platforms: The platform offers in-depth training on the MetaTrader 5 (MT5) trading platform. Traders can learn about its features, functionalities, order types, execution modes, charting tools, automated trading capabilities, and social trading options, enabling them to make the most of this powerful trading platform.

  6. Glossary of Trading Terms: To ensure traders are well-versed in trading terminology, TenTrade provides a comprehensive glossary that elucidates common forex and CFD trading terms. This resource helps traders navigate the sometimes complex jargon associated with trading.

Summary

TenTrade is a forex and CFD broker that offers a range of trading products and account types to cater to diverse trader needs. While it holds licenses from SeychellesFSA and CyprusCYSEC, it's crucial to note that the SeychellesFSA license has been officially revoked, and there are suspicions regarding the CyprusCYSEC license. The broker provides a variety of educational resources through its TenAcademy, covering topics from basic trading principles to advanced strategies. TenTrade offers the MetaTrader 5 (MT5) platform, enabling traders to access multiple financial instruments, including forex, cryptocurrencies, CFDs, and NFTs. The broker also provides flexible payment options for deposits and withdrawals. Traders should carefully consider the regulatory issues and associated risks while evaluating TenTrade's services.

FAQs

Q1: Is TenTrade regulated by any financial authorities?

A1: Yes, TenTrade holds licenses from SeychellesFSA and CyprusCYSEC. However, please be aware that the SeychellesFSA license (SD040) has been officially revoked, and there are suspicions regarding the legitimacy of the CyprusCYSEC license.

Q2: What trading products can I access with TenTrade?

A2: TenTrade offers a diverse range of trading products, including forex, energy commodities, indices, individual shares, crypto CFDs, 24/7 crypto trading, and NFTs (Non-Fungible Tokens).

Q3: What are the available account types at TenTrade?

A3: TenTrade provides three main account types: Pro, ECN, and Bonus. Each account type offers different features, spreads, and commissions to suit various trading preferences and experience levels.

Q4: What is the maximum leverage offered by TenTrade?

A4: TenTrade offers a maximum trading leverage of up to 1:500. It's important to exercise caution when using high leverage, as it can magnify both profits and losses in trading.

Q5: How can I contact TenTrade's customer support?

A5: You can reach TenTrade's customer support team through email at support@tentrade.com or connect with them on social media platforms like Facebook, Instagram, and Twitter. They are available to assist with inquiries and concerns.

News

TenTrade Is a Scammer? Read More Here!

ExposureTenTrade Is a Scammer? Read More Here!

2023-08-10 17:39

Amid the accessibility and potential profitability of forex trading, a recent complaint against TenTrade Ltd., an online brokerage, underscores the challenges traders encounter in navigating profit withdrawal while being accused of fraudulent trading by the company. Fortunately, thanks to traders and WikiFX's efforts, TenTrade was able to settle with traders and preserve its reputation.

WikiFX
2023-08-10 17:39
Exposure
TenTrade Is a Scammer? Read More Here!

User Reviews

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NurkyGo
more than one year
Tentrade's social trading is amazing! I have followed some real experts and gained pretty profits!
2024-04-28 16:02
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HJ11814
more than one year
I used their 'copy trading solutions' on this platform called Tentrade. There was this guy Andrew, who had this trend trading strategy that seemed pretty solid. But man, was I in for a surprise. And not the good kind! I ended up failing in my trades and it wasn’t even close! After some reflecting, I think the copy trading on this platform is just subpar, really. Doesn’t even hold a candle to platforms like eToro, if you catch my drift. All things told, I’m pretty bummed about my IREX experience, and honestly I wouldn't recommend it.
2024-01-15 18:04
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Cornelius Sinclair
more than one year
10TradeFX got me feeling sketchy. The website's playing hard to get, couldn't find basic info. People talkin' about it being a shady clone, even with CySEC watching. Missing deets on indices and commodities, and the legit vibe is MIA. Think twice before diving in, fam.
2023-12-06 10:11
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Lamerbeauty
more than one year
10TradeFX is my go-to hustle spot! Their MetaTrader 4 platform is smooth like butter, offering mad options for trading – Forex, crypto, you name it. Customer service is on point, quick like lightning. Different account choices fit every pocket, and that spread of about 1.5 pips ain't breaking the bank. It's my trading playground!
2023-12-05 16:11
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Zafar ali1119
more than one year
I opened exposure case against this broker in march 23. They contacted me now and returned my all profit which was due which was delayed due to some technical issue.
2023-09-05 22:28
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快到碗里来98689
more than one year
Opening my account and upgrading to professional status went fast and smoothly. Customer support is professional and helpful. Execution and spread are excellent. I like the fact that TenTrade is a regulated broker.
2023-02-23 16:14
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0
0
黄里程
more than one year
Even though I haven't seen anyone saying that TenTrade is a scam, I still don't recommend trading with it. Its regulatory license does not look very reliable.
2023-02-16 14:13
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0
0
phams
more than one year
Im proud with broker , because their very low spreed keep going ten trade
2022-12-05 17:39
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0
0
FX1070090082
more than one year
Low margin requirement, rich trading assets, social trading supported, I just love this platform so much. Its customer support also makes me feel warm and comfortable. I just opened a live account on this platform, and my friend July did this too. So far so good, recommend!
2022-12-01 17:07
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0
姬鹏
more than one year
No problems so far, always a pleasure to deal with them. The execution was fast and the customer service was superb! Their customer service team is really professional and always able to help me warmly and quickly.
2022-12-01 17:03
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