TenTrade Review: Traders Report Withdrawals Blocked After Profits as CySEC Flags Suspicious Clone

TenTrade is a forex and CFD broker operating under Evalanch Ltd, registered in Seychelles and founded in 2010. The platform offers MT5 trading across forex, commodities, indices, shares, and energies, with leverage reaching up to 1:5000 and multiple account types. However, a growing volume of user complaints paints a troubling picture: traders across multiple countries report that their withdrawal requests have been denied or ignored , particularly after they turned a profit. Combined with regulatory red flags including a CySEC suspicious clone designation, TenTrade warrants a closer look before any funds are deposited.

This article examines the patterns emerging from user complaints, the platform's regulatory standing, and what traders should verify before engaging with TenTrade.

فہرست

01

Complaint Pattern: Withdrawals Blocked and Accounts Closed

02

Execution Concerns: Slippage and Trading Conditions

03

Regulatory Standing: Offshore License and Clone Flags

04

Basic Information

05

Score and What It Means

06

Final Thoughts

Complaint Pattern: Withdrawals Blocked and Accounts Closed

The most consistent theme across TenTrade complaints is blocked withdrawals. According to user reports on WikiFX, traders who deposit funds and trade profitably are frequently unable to access their money once they attempt to withdraw.

One trader from Pakistan reported in October 2025 that they deposited $100 and grew their balance to $1,200 through legitimate trading. When they tried to withdraw, the request was rejected and the withdrawal option was subsequently disabled from their account.

Screenshot submitted by the user with the complaint (2025-10)

A similar complaint from another Pakistan-based trader in the same period described a $1,226 balance being completely blocked, with the withdrawal function disappearing after an initial denial. According to the complaint, despite several attempts to contact the support team through email and live chat, the user received no proper response.

From Nigeria, a trader described the experience as the worst of their trading career. According to the complaint filed in February 2025, withdrawal requests were ignored, delayed indefinitely, or rejected with what the user called “ridiculous excuses.” The user claimed TenTrade accused them of violating terms without providing evidence.

Screenshot submitted by the user with the complaint (2025-02)

Beyond withdrawal issues, traders have also reported account closures without notice. A Hong Kong-based user stated in August 2024 that their account was shut down with no prior notification, and they lost all access to the client portal. Another Vietnamese trader reported in March 2025 that their account was locked after their stop-loss was triggered at the correct price level, with the platform citing a supposed risk rule violation.

Execution Concerns: Slippage and Trading Conditions

Several complaints also point to execution-related problems. A Vietnamese gold trader who filed a complaint in September 2024 documented repeated slippage incidents. The user reported that a short order placed at 1,922 was executed at 1,925.6 , a gap of 36 points , and a long order at 1,910 filled at 1,906.8, a 32-point slip. According to the complaint, the slippage was most severe around major economic data releases, with the trader estimating it occurred on roughly 90% of trades during such events.

Screenshot submitted by the user with the complaint (2025-09)

Regulatory Standing: Offshore License and Clone Flags

TenTrade's regulatory situation demands careful scrutiny. WikiFX data shows that the platform operates under Evalanch Ltd, holding a derivatives trading license (SD082) from the Seychelles Financial Services Authority. This is classified as offshore regulation , the license exists and the entity is under Seychelles FSA oversight, but the protections available to traders are typically less robust than those under top-tier financial regulators.

More concerning are the suspicious clone warnings. The Cyprus Securities and Exchange Commission (CySEC) has flagged TenTrade as a suspicious clone of Holiway Investments Ltd, a firm that holds a separate CySEC license (248/14) and has no connection to TenTrade. Additionally, WikiFX records show the platform linked to Milton Global Ltd under a Seychelles FSA license (SD040) , another entity with no known affiliation to TenTrade. Cloning, where an unaffiliated entity impersonates the credentials of a regulated firm, is a tactic commonly associated with higher-risk operations.

Basic Information

TenTrade was founded in 2010 and is registered in Seychelles under Evalanch Ltd. The platform supports the MT5 trading platform and offers a range of account types , including PRO, ECN, and multiple bonus-tier accounts , with minimum deposits starting from $25 on ECN accounts. Leverage reaches up to 1:5000, and the instrument lineup covers forex, commodities, indices, shares, and energies. The platform advertises 24/7 customer support via live chat and email, though multiple complaints suggest response times fall short of that promise when withdrawal issues arise.

Score and What It Means

WikiFX assigns TenTrade a score of 3.75 out of 10, placing it firmly in the high-risk category. This score reflects the combination of offshore-only regulation, multiple regulator-issued clone warnings, and a sustained pattern of user complaints centered on fund access. Scores in this range are not typical of brokers with clean operational records, and the gap between TenTrade's marketing promises and user experiences reinforces the need for caution.

Final Thoughts

The evidence available on TenTrade points to a platform where the gap between what is advertised and what users experience is substantial. Withdrawal complaints spanning Pakistan, Nigeria, Vietnam, and Hong Kong share a common thread: traders who deposit funds and trade profitably find their money locked behind silence or vague terms-violation claims. At the same time, the regulatory framework is limited to a single Seychelles offshore license, while CySEC and the Seychelles FSA have flagged the operation as a suspicious clone of unrelated regulated entities. No single data point is conclusive, but taken together they form a pattern that any trader should evaluate carefully before committing capital.

If you are considering TenTrade, verify the FSA Seychelles license independently on the regulator's website and check whether the entity Evalanch Ltd matches the platform you are dealing with. Test withdrawals with a small amount before depositing larger sums. Use the WikiFX App to monitor real-time scores, read recent complaints from other traders, and check whether any new regulatory warnings have been issued. Your funds deserve more than silence when you ask for them back.