10 Markets Ulasan

On-line since: -
Country of origin: Great Britain
Regulation: -
Payment options: bank wire, credit cards, electronic wallets
Minimum account size: $250
Minimum lot size: 0.01 lot
Leverage: up to 1:1,000
Spreads: fixed, variable

About the company:

10Markets is a broker which offers forex trading and contracts for difference (CFDs) on currencies, indices, and shares through the popular MetaTrader4 platform.

About the company. Security of funds

This is a brand name of Badale Invest Ltd., a company registered in Scotland, Great Britain. However, 10Markets.eu does not provide information about holding of a licence from the regulatory authority of Great Britain. Instead, there is a link to the licence of Vanuatu which refers to another company – Whitestone Securities Limited. We were confused by such information and doubt whether the two above mentioned companies are linked. In any case, Vanuatu is an offshore zone, and we recommend traders to carefully choose a broker they are going to work with.

Even worse, 10Markets has been included in the warning lists of FCA of Great Britain, ASIC of Australia, and CySEC of Cyprus, proving that the broker is not licensed. Besides, Forex Peace Army recommends being extremely cautious when working with the broker, since it has got numerous suspicious and falsified positive comments, as well as complaints about withdrawal problems.

Taking into account the above mentioned, regardless of trading conditions provided by 10Markets, we would not advise you to work with it, as it is not regulated and is probably a fraudster. You'd better choose another regulated broker.

Trading conditions

10Markets provides its customers with a choice of 5 account types. All of which are without commissions, have both fixed and variable spreads, and a leverage of up to 1:1,000. The minimum deposit of $250 is an average figure for Forex, although many other unregulated brokers require a smaller amount.

There is no information about brokerage spreads, and when we tried to open a demo account in order to test the platform and trading costs, it turned out that it is impossible until you deposit real funds.

Trading platforms

10Markets supports MetaTrader4 (MT4), the most popular platform among forex brokers and traders. It is available as a desktop, web versions, and mobile applications.

MT4 is written in a reliable and universal programming language (MQL4). Packed with such functions as extended types of orders, charts, and user indicators, MT4 is extremely popular among all traders, regardless of their trading styles.

In addition, it provides automated trading through Mirror Trader.

Support service

Support service offers chat, phone, and web form on the site to receive feedback. 10Markets states that its customer service is available 24 hours a day, seven days a week. However, on the website, where telephone numbers are displayed, the operating time is from 10 a.m. to 6 p.m. (Great Britain) Mon-Fri. We tried to connect the service at 9.07 a.m. (London time) and received no reply. Therefore, the support service is not around-the-clock.

Payment options

10Markets provides its clients with the following methods of depositing/withdrawal: credit/debit card, bank wire, ecoPayz, POLi, CashU, giropay, iDEAL, and WebMoney.

Advantages:

• MT4.

Disadvantages:

• unregulated;
• insufficient information about trading conditions;
• included in the warning lists of numerous regulators, and is possibly a fraudster.