As forex trader, we should research and know the truth and authenticate information about a broker before we invest our money. Mostly we search about their reviews & ratings over the internet but we do not get enough resource and right information about the broker we want to invest. Today we are going to write review about 10markets broker for you. We will include all the information we have gathered for you about 10markets broker
Let’s introduce you with 10Markets Broker: Who are they?
10Markets.com is well known name in forex trading industry. They have started their journey back in 2014 with a team of experienced financial analyst and fund manager. 10markets broker is Owned & Operated by Badale Invest Ltd. 10markets broker is regulated by the Vanuatu Financial Services Commission under the License No. 14692. Their head office is located in Coddan CPM, South Bridge, Edinburgh, Scotland, UK.
10makets has a good reputation for their good services, as well as bad ratings too for washing out client’s fund by using auto trading without client’s authorization. As a newly established broker they offer forex, CFD’s, Indices, Binary Options for their individual or institutional traders and investors through their MT4, Mirror Trading, Web Trading platforms.
You have to deposit minimum $250 to open a trading account with 10markets.com. you can open a trading account among 5 different account types at 10markets. They offer 1:200 leverage with floating spreads. For any further information, you can contact with them via email or phone.
General: + 41 4350 87155
Support: +41 3152 81300
Also, you can get in touch with them by using live chat on their website.
The Widest Choice of Trading Platforms at 10Markets
At the present time, Online trading is much wider with large amount of tradable asset than ever before. With this in mind 10Markets.com offer several different types of trading platform to enjoy the most advanced and innovative online financial trading experience. Which includes:
- MetaTrader 4 (MT4) platform
- 10Markets WebTrader platform
- 10Markets Mobile FX App
- 10Markets Binary Web App platform
- 10Markets Binary Mobile App platform
- Mirror Trader
MetaTrader 4 (MT4) platform
MT4 platform, also knows as meta trader 4 platform is the most famous and common platform in online trading industry. MetaQuotes Software has designed and developed the MT4 platform. It allows traders to trade all the major currency pairs with a leverage ratio of 1:200 at 10markets.com. it is fully equipped with lots of essential technical trading tools and advanced trading chart packages. As a trader, you can customize the platform for automation with the use of “Expert Advisors” (EAs). It is designed specifically for online traders to get the most out of their trading experiences.
10Markets WebTrader platform
The 10Markets WebTrader platform is suitable and user friendly for those traders who are always on the move and needs to access the markets and trade without having to download any software. 10Markets web platform is very Flexible and powerful. You do not have to download this platform to trade at 10Markets.com, as this platform is integrated with their website. By using any online browser, you can have full access to your trading account in your mobile, Tab, laptop or even desktop. Which will save your precious time and help you to trade more smoothly without having any trouble, only if you have a good internet connection.
10Markets Mobile FX App
Mobile is the greatest innovation of modern technology for connecting and communicating people around the world simultaneously. Day by day everyone is getting connected with this modern communication device. 10Markets.com offer their traders a mobile forex app to help them and let them to trade while they are on move. This mobile trading app allows traders to stay in touch with the forex market through their mobile devices. Essentially, the control of the trader’s trading experience lies in the palm of their hands.
10Markets Binary Web App platform
The 10Markets binary web app lets traders trade in binary options with 10Markets web platform seamlessly with their mobile or tab devices. With the shared wallet option at 10Markets traders can also use the MT4 platform and Web trader platform at the same time to trade online financial market. Best part is you do not have to install any additional software to trade in binary options or FX market. All you need to have one smart phone with reliable internet connection, that’s it.
10Markets Binary Mobile App platform
If you are not comfortable in trading using web platform then, there is another choice for you to trade in binary option at 10Markets.com. You can install 10Markets binary option mobile app from Google play store or Apple iClouds. With this mobile app, you can stay in touch with the markets in real time to enjoy the ultimate trading experiences from the palm of your hands.
Mirror Trader Platform
10Markes Mirror trader platform is a great option for the traders who are new in online trading industry. Mirror trader will let you to follow and copy other professional forex or binary option traders and make profit from your trade. Mirror trader highlights which currency pairs are performing best in the current market conditions and sends signals when to enter and exit a trade. It allows traders to take advantage of market movements even when they are at work or asleep. You can also share your own ideas, trading techniques with other new or professional traders. Through mirror trader platform you can create a strong trader community at 10Markets.
10Markets Accounts: Types of Trading Account They Offer
Are you a beginner or a pro trader? No matter what your level of experience 10Markets designed trading accounts to cover all your needs. Account planes start from Bronze with minimum $250 opening deposit. All trading accounts come with the fabulous 10Markets execution and asset selection, allowing all traders access to Forex Currencies and CFDs on the single account.
The 10Markets broker offers five different types of accounts for their traders:
All of these types of accounts holder have access to CFD and forex trading along with the Go for Goldman webinar which airs twice a day. All accounts holders also receive daily market overviews and research in their inboxes.
The Bronze account has been designed for the beginner who wants to try our live trading platform performance. As a beginner, you can start with minimum $250. If you sign up for bronze account you will get the access to CFD’s and forex trading. Also, you will have access to the bidially go for foldman webinar. Besides webinar you will receive daily market news and research report via email.
As you can see, Bronze Account holders receive the basic minimum features which are available to all account holders. What makes this even more insulting is the fact that the minimum deposit for a Bronze Account could give you access to more features from a more reputable and regulated forex broker. The 10Markets scam is really holding nothing back with these deposit costs.
You may sign up and start with minimum $2500 for a Silver Account. In addition to the basic features, 10Markets claims that Silver Account holders will receive assistance from a Portfolio Manager for 2 weeks. And gain access to Signals-On-Demand through the Trading Central for one month. This seems like yet another split off by the 10Markets.
Name is gold account but there is no gold in this account. You might be a gold lover, and this name will attract you to sign up with them. But, you will need to deposit at least $5000 to sign up for this gold account. But you wouldn’t receive much with a deposit like that. In fact, all you’d get are the features available for the Silver Account and 1-on-1 live trading sessions with a so called Trading specialist for once a month.
The Premium Account’s minimum deposit is twice that of the Gold Account at $10,000. In addition, the Gold Account’s features, you receive 2 instead of 1 live trading sessions with one of 10Markets’ Trading Specialist. There’s also accelerated withdrawals, access to sessions with the apparent chief analyst Jay Goldman, priority use of the Tradency and priority scheduling for 1-on-1 session with an analyst.
The Platinum Account brings the highest minimum deposit, $25,000, and offers access to all the features of the previous accounts with a few additions. These additions are live trading sessions once a week, access to premium on demand signals using Trading central and “exclusive” access to variable forex spreads plus spread discounts.
These account options may seem enticing but 10Markets trading is nothing short of a scam. That much is clear from these account features and costs.
Special Features and Education at 10 Markets
10Markets offers various special features and education for their traders. Which includes:
- 10Markets Trading Manual
- EDUCATION CENTER
- 10Markets Webinars
- 10Markets Trading Central
10Markets Trading Manual
Trading manual has been designed for you to provide you the initial trading guide. This trading manual has over 14 pages of information and teaching materials for you to know, how to open account with 10Markets.com. how to deposit. How to trade. How to use platform for a profitable trade. Also, there is an article for you regarding their platforms in details.
You can download the trading manual from the following page: https://www.10markets.com/the-10markets-trading-manual/
10Markets education center has been designed for you to learn forex and binary option trading through organized video or e-book tutorials. You will learn about mt4 platform, forex market, CFD’s, stocks trading, binary option trading forex trading strategy, market analysis, trading psychology, social trading and many more trading technics.
Follow the link to find out training videos and more details on trading education: https://www.10markets.com/learning-centre/
Webinar is an online live teaching method being used by many organization and education centers, institutes to train learners over the internet. 10Markets also offer for their trader’s live webinars training to train their live account holder. To be eligible for this webinars at 10Markets you have to open a live trading account with minimum $2500 deposit. I can tell you that it is one kind of trap to make you open a live trading account and deposit into your account just to get chance at their live webinars training.
10Markets Blog is for everyone. Whether you are a forex trader or not you will get daily financial and stock market related posts and news update. 10Markets publish new post on daily basis for their blog readers. You can follow their blog to get news update.
Trading Central is a leading independent provider of technical analysis for the financial markets with a proven track record for supplying timely and accurate overviews for Forex Currencies, Stocks, Indices and Commodities. The Trading Central analysis gives a brief overview of the outlook for the asset in question along with Support and Resistance levels as well as actual trade targets with the recommended trade direction, using candlestick patterns including Doji, Hammers, Morning Stars and many others and with multiple updates throughout the trading day.
Your 10Markets account comes with access to analysis across all the supported asset classes in a very user-friendly interface. From your account area on 10Markets, simply navigate to “Forex Strategies” and your Trading Central signal feed will open in a new browser window where you can customize the screen views and add alerts for particular assets you want to track.
Commission & Spreads
As for the trading conditions at 10Markets.com, except for bronze trading account. Because bronze account has been customized for the traders who wants to trade with fixed spreads. As a trader, you can choose between fixed or floating spreads. Regardless of whether the spreads are fixed or floating, the minimum spread payable starts from 4 pips. Which is really high compare to other new or old brokers. In addition, the maximum possible leverage is only at a ratio of 1:200. Where other brokers offer up to 1:3000 leverage.
Deposit and withdrawal
You can deposit and withdrawal at 10Markers.com only via credit card or bank wire transfer. If you deposit card then you have to withdraw by using the same card. Bank wire transfer takes 2 to 5 business day to be available into your trading account.
By the way, they charge up to $50 for withdrawal via bank wire transfer which takes 3 to 6 business days to be available into your bank account. For example: if you request for $250 withdrawal then you will receive $200 but after 3 to 6 days and $50 they will charge you.
10Markets Support page lists a number of different ways to get in touch with them. You can contact them using:
- Online Portal
- Live Chat
Another interesting thing about the 10Markets’ Support Page is that it lists a number of different 10Markets’ employees which is not something many other brokers do, especially the scam ones. But it’s clear that 10Markets’ is not just some ordinary scam. They seem to take pride in steal from people of their hard-earned money.
During our preliminary research on this broker, we came across loads of 10Markets reviews on forex peace army where people spoke about how the customer service after their initial withdrawal was absolutely poor. Traders also spoke about how whenever they requested a withdrawal, they’d go back to see that unauthorized trades were made on their behalf and all of their money was gone.
It’s clear from these user accounts that 10Markets’ is only out for itself and your money.
Reliability: As a broker is 10markets.com Reliable for trading
One of the main difficulties which traders come across when evaluating a newly established broker like 10Markets.com is lack of information concerning the background. What is known about 10Markets.com is the fact that it is a subsidiary of the Whitestone Group Ltd, Anguilla. However, the broker, under Whitestone Europe Ltd operates from London with its operational office at #16, Upper Woburn Place, London. Apart from the ownership of 10Markets.com very little information is available about this broker. Given the relatively young age of the company, it’s safe to assume that 10Markets.com doesn’t fall under the jurisdiction of any financial regulatory authority.
Under such circumstances, the only way to gauge the reliability of the broker is to look to other aspects of the broker for an indication as to its reliability. One way is to see how technically efficient the broker is. Another way, is to look at the quality of its customer support services.
In term of 10Markets.com technical efficiencies, the broker is actually quite reliable. Their support for mobile trading is better than average as they have taken the effort to create more than one app to support mobile trading. Traders at 10Markets.com have the use of 4 different types of mobile apps to meet the specific trading needs of those traders who are trading from mobile devices.
In addition to having a wide range of mobile trading apps for traders to choose from, 10Markets.com also provide 2 main types of trading platform for their traders. These include the industry standard platform for forex trading, the MetaTrader 4, and a WebTrader platform for those who wish to trade from any computer without having to download and install any software. In other words, 10Markets.com has gone way beyond what a fly by night operator will provide their victims with.
Good Customer Support
Apart from being well equipped technically, 10Markets.com has also ensured that its customer support services are on par with the standards that it is trying to achieve. For example, they have sufficient different channels of communication for traders to use to get in touch with the support team. Furthermore to ensure that their traders do not incur excessive telephone charges while liaising with the support team, 10Markets.com have provided several localized telephone numbers that their traders can use to speak to the support team.
In light of what we have all seen, our conclusion is that 10Markets.com is a legitimate broker. However, it should be noted that they do have several major deficiencies which they need to rectify in the near future if they want to compete in the industry on a more level footing.
- 5 types of trading accounts
- Easy to contact customer support
- Good support for mobile trading
- Localized telephone numbers provided
- Multiple choices of trading platforms
- Shared wallet option allow seamless access to different trading accounts
- Wide selection of instruments available for trading
- High Spreads
- Low Leverage offered
- Non-Regulated Broker
After a thorough review of 10Markets.com services and platforms, we can conclude that the broker is not much authentic. Nevertheless, there are still many areas which 10Markets can do with some improvement to make their services even more attractive to traders. Since they are relatively new to the industry, we can only assume that they are still adjusting to the actual needs of their traders. Hopefully in due time, all the deficiencies at 10Markets.com will be rectified.
We do not recommend this broker for you. As this broker has tons of complain and scam claiming. And 99% of those issues were not solve at all.