TenTrade Review: Is Your Deposit Safe?

TenTrade is a Seychelles-based forex and CFD broker founded in 2010 and run by Evalanch Ltd. It markets MT5 trading, several account tiers and leverage up to 1:500, and operates under a Seychelles FSA licence held on an offshore basis. The risk side matters more: a low WikiFX score, licensing entries flagged as unverified and suspicious clones, and a pattern of complaints about withdrawals. This review lays out what can be confirmed, so you can judge the deposit risk before committing funds.

Contents

01

Complaint Pattern: Withdrawals Are the Recurring Theme

02

Regulatory Warning: Offshore Licence Plus Suspicious-Clone Flags

03

Basic Information

04

Score and Influence

05

Final Thoughts

Complaint Pattern: Withdrawals Are the Recurring Theme

Complaints about TenTrade on WikiFX concentrate on getting money out. Traders describe a similar sequence: they fund an account, trade, see the balance grow, then hit problems when trying to withdraw. The most common reports involve declined withdrawal requests, a withdrawal option that disappears, or an account closed without a clear explanation. Other complaints describe execution problems, including slippage on gold orders.

One representative complaint, from a trader in Pakistan, states that TenTrade deducted profits even though the user says they never accepted a bonus. According to the complaint, the balance was reduced in stages and the platform told the trader to withdraw only the remaining amount.

Screenshot submitted by the user with the complaint (2023-03)

This pattern is not proof that every account will be affected, but it is a signal worth weighing before you send money.

Regulatory Warning: Offshore Licence Plus Suspicious-Clone Flags

WikiFX data shows a divided regulatory picture for TenTrade.

The main entity, Evalanch Ltd, holds a Seychelles Financial Services Authority (FSA) licence under offshore regulation. That licence exists, but offshore registration generally offers lighter investor protection than full regulation in major markets.

Two other entries in the records are marked as unverified and attached to different entities: a Cyprus Securities and Exchange Commission (CySEC) licence under Holiway Investments Ltd, and another Seychelles FSA licence under Milton Global Ltd. The broker's profile also notes that the platform has been flagged as a suspicious clone by CySEC and other authorities.

In short, TenTrade is not unregulated, but the suspicious-clone flags, combined with the lighter protection of offshore regulation, mean traders should verify the current status before depositing.

Basic Information

TenTrade is a Seychelles-based forex and CFD broker founded in 2010, operating under Evalanch Ltd with a registered address in Providence, Mahe, Seychelles. It runs on MT5, supports automated trading, and lists forex, commodities, indices, shares and energies. The account lineup spans low-entry tiers to ECN-style accounts, with leverage offered up to 1:500. High leverage can amplify losses as well as gains, which matters when withdrawal complaints are already a theme.

WikiFX Dealer Page

Score and Influence

WikiFX gives TenTrade a score of 3.76 out of 10, a low score that reflects the unverified and suspicious-clone entries in the licensing records and a complaint record weighted toward withdrawals. Not all feedback is negative; WikiFX also shows some positive reviews praising fast execution and support. Traders should weigh the full record rather than any single review.

Final Thoughts

Taken together, the suspicious-clone flags, the low WikiFX score and the pattern of withdrawal complaints point to elevated risk. That does not automatically mean every trader will have a bad experience, but it does mean the burden of verification sits with you before any money is sent.

If you do proceed, check the current regulatory status first, fund only a small amount, and test a withdrawal early to see how the process actually behaves. You can also review the live score and complaint record on the WikiFX App before making a decision.