I am going to review 10tradefx today. According to the website of the broker, 10TradeFX is a brand owned and operated by Holiway Investments Ltd.
10TradeFX is an online trading company that offers its clients an opportunity to trade in over-the-counter derivatives such as margin foreign exchange (forex) contracts and contracts-for-difference (CFD).
The official website of the broker, 10tradefx.com, supports four different languages. These are English, Polish, Vietnamese, Russian, and Arabic.
In this 10TradeFX review, I’ll tell you what the broker has to offer to their clients. Also, you will be able to take the answers to the following questions.
Is 10tradefx a scam or legit? What are the trading conditions that Circle Markets offers such as spreads, minimum deposit and maximum leverage? How good are the 10tradefx account types? Is 10TradeFX regulated?
It’s always a better idea to trade with a licensed broker instead of a non-regulated one. The regulation provides such great confidence to traders that they can trade safely with any broker in addition to providing the broker themselves with a good and trustworthy name in the market.
With that being said, let me stress that not all regulatory organizations are providing the same level of auditory rules as others. Some regulators provide some of the strictest rules in the market for obtaining their licence, that would include ASIC in Australia, CySec in Cyprus and FCA in the UK where they force some of the toughest audits to be maintained.
Some other regulators force compensation funds to be set in place in case of any disputes or financial losses. Other regulatory organizations lie in the average range of regulations and decent licenses being presented to brokers.
10ΤradeFX is the brand name of Evalanch Ltd which is Licensed and regulated by the Seychelles Financial Services Authority with license number SD082
Three different account types are offered at 10tradefx in which this 10tradefx review will break them down in detail for you.
The Pro Account
Where maximum leverage of 1:500 Is offered and the base currencies used are USD, EUR, and GBP. The minimum deposit is $25 and you can have the spreads reaching 1.2 pips. Zero commissions are applied on transactions made within the pro account within 10tradefx. The Pro account is an STP type of account.
The ECN Account
The same base currencies are used here USD, EUR, and GBP. Being an STP type of account, The ECN account allows you to have a maximum leverage of 1:500 and the spreads applied are of raw nature of 0 pips. The minimum deposit offered on this account type is $100 and there is a commission added of $3.5 per lot per side.
The Bonus Account
With $100 as the minimum deposit allowed on this account, 10tradefx is allowing maximum leverage on this account too of 1:500 with spreads from 1.8 pips. This is also an STP account with base currencies like the other 2 accounts which are USD, EUR, and GBP. No commissions are added on transactions on this account type.
10tradefx offers its clients to trade with MT5 which is the updated version of the platform that came before it and is being used all over the forex market, developed by MetaQuotes, which is the MT4.
Unfortunately, MT4 is not supported by 10tradefx, yet MT5 can be used on all Android and iOS devices.
some of the features offered through MT5 are as follows:
- New order types
- Improved strategy tester for expert advisors
- Indicators and widgets
- Economic Calendar
- Market depth charts
Even though MT4 are the most popular platform for trading in the forex market, MT5 is considered the next successor, MT5 is providing some advanced options that weren’t offered within MT4, for example, the option to trade futures and stocks.
And when it comes to timeframes, there are 21 time frames offered with MT5 while there were only 9 offered in MT4. MT5 is providing 6 types of pending orders. MT5 is also provided in the MQL5 which is the programing language for the platform. 38 technical analyses and 44 analytical objects with an unlimited number of charts are also included in the features of the MT5 platform.
Even though 10tradefx isn’t offering MT4 as I’ve broken done the information for you in this part of the 10tradefx review, the broker is making sure to provide the higher update and the better platform in the market.
10tradefx is offering different trading tools that I’ll be breaking them done in detail in this 10tradefx review as follows:
Forex Currencies: with over 40+ currency pairs available for trade, including forex’s majors, minors and exotic currency pairs, you can trade with a maximum leverage of 1:500. Tight spreads that can reach as low as 0.1 pips.
Commodities: precious metals alike gold and silver and energy commodities like Brent oil, WTI oil, Crude oil and Natural gas are all offered for a trade where you can use any instruments of these to diversify your trading portfolio, especially during volatility times.
Indices: UK FTSE 100, German DAX and Nikkei are examples of the available indices for a trade that can provide you with exposure from minimal investments and low margins, besides, flexible leverage to manage your level of risk and also a good chance to diversify your trades. You can speculate on the price movement and make a profit on the rise and fall of prices.
Shares: the shares of the major companies in different sectors of the industry are all presented for trade for example the shares of Apple, Tesla, Amazon, Google, eBay and more are all present. You can take advantage of the price movement as leverage to maximize your wins.
Cryptocurrencies: Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin cash and more are examples of the available cryptocurrencies offered for trade at 10tradefx. Advantageous trading conditions and the fact that crypto is taking the market by storm in the current times is a good instrument to be added to the trading strategies.
Not much information is offered on the 10tradefx website regarding details of the funding methods offered, however, in this part of the 10tradefx review, I’m going to review the info that I found.
10TradeFX offers a robust payment system where you can fund your trading account fast and securely using plenty of deposit options, including major credit/debit cards, wire transfers and e-wallets.
- The credit and debit cards accepted include Visa and MasterCard
- The e-wallets include skrill and Neteller
- Bank wire transfers and local banks transfers are also accepted
10tradefx is a regulated forex broker that is regulated by the FSC of Seychelles and makes sure to secure the funds of the traders in the best way they can. The broker is offering 3 different account types with the least minimum deposit of $25 that’s offered on the pro account. The maximum leverage offered is 1:500 and the spreads can be as low as 0 pips as I’ve reviewed throughout this 10tradefx review.
10tradefx is offering the advanced trading platform MT5, yet the absence of MT4 is a big disadvantage point that needed to be mentioned in this 10tradefx review. Different trading instruments are offered and they’re quite varied. The funding options at 10tradefx are quite limited and the absence of cryptocurrency funding at 10tradefx is a major disadvantage. Also, the lack of information details about the processing time for funding and withdrawals made it difficult to put the broker in a higher review rate.