10TradeFX is a Forex broker, that is based out of Seychelles offering MT5 trading.
Owned and operated by Evalanch Ltd, company number 8429760-1, They are located at: CT House, Office 9A, Providence, Mahe, Seychelles. Customer support email address is: [email protected]. The official website is at 10TradeFX.com.
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10TradeFX Review
Our review of 10TradeFX reveals that they provide their investors and clients the popular Forex CFD trading app known as MT5 or MetaTrader 5. With this brokerage firm, you will see that they offer the desktop app, a web-based trading app, along with mobile trading apps for Android & iOS devices. You will be able to create multiple demo accounts to test out their trading platforms and your trading strategies.
Their platform is available in the following languages; Arabic, Polish, Vietnamese, Russian, Mandarin and English, as they are a global Forex broker. Three types of trading accounts are available for new clients. Minimum deposit starts at $200 for a Silver account.
Margin rates / leverage is as high as 500:1, which is common among non European brokers. It is important for new traders to familiarize themselves with the risks of trading with leverage. It can be fun making huge profits when the trade moves in your favor, but be prepared for a fast wipeout when the underlying asset moves in the other direction.
Is 10TradeFX a Licensed Broker?
Yes, this broker is regulated in Seychelles by the Financial Services Authority (FSA) with license number SD082.
The most important thing we look at when reviewing a CFD Forex broker, to determine if they are a legit broker or a scam broker is a license. Are the licensed and regulated by FCA in the United Kingdom or CySEC in Cyprus? Do they fall under the MIFId regulatory rules in the European Union (EU)? Are they registered with the FCA in the United Kingdom?
One of the many benefits of using a regulated Forex broker, is the ability to take complaints directly to a financial regulator for resolution. Typically, regulated brokers have a much better reputation than their unlicensed peers.
Compare Forex Brokers
The best forex broker is a very general statement, because each investor has their own needs and requirements from their broker. However, a smart investor will always have their main broker, and another broker as a backup. You can see our list of most popular brokers.
ForTrade is a very popular Forex broker, regulated both in Australia and England by the FCA and ASIC, see here.
Register your Free Trading Account at: ForTrade.com.
If you are a current investor at 10Trade, please share your review in the comments below.