de | cn | ru

10Crypto Review - is it scam or safe?

10Crypto Review - is 10crypto.io scam or good forex broker?

RATING: 1 / 0 REVIEWS 10Crypto
10Crypto is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account  Min. deposit  Max. leverage Spread
Retail  N/A 1:30 (crypto) N/A
Professional  N/A 1:500 (forex) N/A

 

As its name suggests, 10Crypto is a forex and CFD broker that focuses on cryptocurrency trading. It offers the above account types, but has not made clear its trading conditions. Yet, our main concern with 10Crypto is the lack of financial regulation.

 

Note that, in order to qualify as professional clients with this broker, traders should carry out transactions at least 10 transactions per quarter (over the previous 4 quarters) of certain size (over 150 EUR).

 

 

10Crypto Advantages

 

Claims to support the ACTIV8

Created by the developer of Sirix (Leverate), ACTIV8 is a solid choice of a trading platform. It is equipped with variety of analytical tools, nice charts, ‘Strategies’ category that provides an array of EA/bots, and incorporated external market analysis.

 

Unfortunately, we could not test 10Crypto’s platform, so we cannot be sure that the broker really supports it.

 

Diversified product portfolio, many coins available

Another possible benefit of using this broker is its rich product portfolio. 10Crypto claims to offer trading in currencies, stocks, commodities and other financial trading instruments. As we pointed out above, the main asset class in its portfolio, however, is cryptocurrency in the form of CFDs. The latter group includes Bitcoin, Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Stellar, Cardano, IOTA, Tron, Neo and Tether, which can be traded with leverage up to 1:30.

 

If you are keen on trading the cryptocurrency markets, we have drawn up a list of some brokers offering Bitcoin CFDs which are reliable and recommended. 10Crypto is not one of them.

 

 

>> Trade cryptocurrencies with a regulated forex broker <<

 

 

10Crypto Disadvantages

 

Registered offshore

10Crypto is allegedly owned and operated by Kase Partnership Ltd., a company registered in St. Vincent and Grenadines (SVG). Forex brokers in this offshore zone are not subjected to licensing and don’t have too meet any requirements, which makes them unreliable trading partners.

 

 

So, don’t be fooled by 10Crypto’s claims of ICF coverage and provision of negative balance protection, as these are prerogatives of brokerages licensed by the Cyprus Securities and Exchange Commission (CySEC). The broker obviously tries to mislead investors it is authorized by CySEC, which is not true. The fact that 10Crypto is not regulated and presents misleading information to (potential) clients incline us to suspect that it is one of the many fraudsters operating on forex and cryptocurrency markets.

 

Spreads not specified, no demo accounts

10Crypto has not mentioned any reference spreads, nor offers free testing service. Lack of essential information such as the cost of trading in a broker’s website is always a worrisome sign. Most con-artists would not share such data, because they are probably afraid that some inconsistencies and irregularities might show up and expose the whole set-up.

 

MetaTrader not supported

We always view the lack of the ever-popular MetaTrader 4 (MT4) trading platform as a negative. Although 10Crypto’s platform is not bad, many traders will surely miss the good old MT4. This piece of trading software offers numerous features and options, with great charting and useful analysis tools. Besides, it is very popular for its auto trading bots, called Expert Advisors.

 


>> Prefer trading on the MT4? <<

 

 

Withdrawal fees

We would also like to point out that withdrawals at 10Crypto are subjected to minimum amount requirements withdrawals processing and handling fees. This is not that unusual

 

The minimum withdrawal amount set for wire transfers is 250.00 USD/GBP/EURO, and for any other method is 100.00 USD/GBP/EURO. Note that these charges exclude the transaction fee imposed; for instance, if a minimum of $250 is to be withdrawn by bank wire transfer, a transaction fee of $50 will be charged. Also, 10Crypto says that they are not committed to any time frame regarding withdrawals.

 

 

Conclusion

 

We cannot recommend 10Crypto for two main reasons: it is not regulated and not transparent about its trading conditions. With no regulatory oversight we can’t be certain about the company behind the broker and whether it will fulfill its obligation towards clients. Furthermore, there is not authority to turn to in case clients fall victim to a scam.

 

To put it into perspective – when trading with an unregulated broker, you may not get your investment back (let alone your profits). In order to ensure the stability of client funds, most countries have dedicated agencies, like the aforementioned CySEC, or UK’s Financial Conduct Authority, which are one of the most reputable ones.

 

 

>> Trade with a CySEC regulated broker <<

 

 

To sum up our review of 10Crypto:

 

Pros Cons
Activ8 allegedly supported Registered offshore
Many tradeable assets, including cryptocurrencies Trading conditions not disclosed, no demo accounts
  MT4 not supported
  Withdrawal fees & requirements

 

Latest news about 10Crypto
No news about 10Crypto . Check back later.
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia, Cyprus ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Traders` reviews for 10Crypto

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru