10Markets is a broker that provides Forex and CFD trading for currencies, indices and stocks on the popular MetaTrader 4 platform.
About company. Fund security
This is the brand of Badale Invest Ltd. - a company registered in Scotland, UK. However, 10Markets.eu does not provide information on the availability of a UK regulatory license. Instead, the broker's website provides a link to a license in Vanuatu, which belongs to another company, Whitestone Securities Limited. We were confused by this information and doubt if these two aforementioned firms are related. In any case, Vanuatu is an offshore zone and we recommend that traders choose the broker they will work with very carefully.
Even worse, 10Markets has been listed on the UK FCA, Australia ASIC and Cyprus CySEC warning lists, indicating that the broker is not licensed. In addition, the Forex Peace Army recommends extreme caution when dealing with this broker as it has received many suspicious and fake positive reviews as well as complaints about withdrawal issues.
Considering the above, regardless of the trading terms offered by 10Markets, we do not recommend doing business with him as he is unregulated and is likely a scam. You are better off choosing a regulated broker.
Trading conditions
10Markets offers its clients a choice of 5 account types. All of them are commission-free, offer both fixed and variable spreads, and leverage up to 1: 1000. The minimum deposit of $ 250 is average for Forex, although many other unregulated brokers require less.
There is no brokerage spread information on the website, and when we tried to open a demo account to try out the platform and trading costs, it turned out that this is not possible until you deposit real funds.
Trading platforms
10Markets supports MetaTrader 4 (MT4), the most popular platform among Forex brokers and traders. It is available as a desktop download, web version, and mobile apps.
MT4 is built on a robust and versatile programming language (MQL4). Packed with features such as advanced order types, charts and custom indicators, MT4 is extremely popular with all traders regardless of their trading style.
In addition, it offers automated trading through the Mirror Trader.
Support service
Support offers live chat, phone, and a web form on the site for feedback. 10Markets says their support is available 24/7, however the website with phone numbers is 10:00 am - 6:00 pm (UK) Mon-Fri. We tried to contact support at 9:07 am London time and received no response. Thus, the support service is not 24/7.
Ways of payment
10Markets offers its clients the following deposit / withdrawal methods: credit / debit card, bank transfer, ecoPayz, POLi, CashU, giropay, iDEAL, WebMoney.
Pros:
MT4.
Minuses:
not regulated; insufficient information about trading conditions; is on the warning lists of numerous regulators, is likely a scammer.
FAQ - BROKER QUESTIONS 10MARKETS
- Do trader reviews affect the rating of 10MARKETS?
- How to leave a review about 10MARKETS on the ita.promo website?
To leave a review about the broker, scroll down the page, enter a valid email and your review with an overall rating. Reviews are moderated and tracked by the number of comments left from one IP or email. The site's technical support may request real documents proving that the user was or is a client of the broker. This rule applies to both negative and positive reviews. We want our portal to be honest and independent.
- Can the broker 10MARKETS be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. 10MARKETS received a rating of 1 out of 5 on our resource.
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