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10Markets Review - Is it scam or safe?

10Markets Review - is 10markets.eu scam or good forex broker?

RATING: 1 / 5 REVIEWS 10Markets
10Markets is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type  Minimum deposit  Minimum trade size Maximum leverage Average Spreads  
Bronze $250 0.01 1:200 N/A
Silver $2 500 0.1 1:200 N/A
Gold $5 000 0.1 1:200 N/A
Premium $10 000 0.1 1:200 N/A
Platinum $25 000 0.1 1:200 N/A

 

10Markets offers its clients a choice of 5 account types, based on the initial deposit. All of them are commission-free, offer both fixed and variable spreads, and leverage up to 1:200.  Such leverage levels and a minimum deposit of $250 is common for the forex market, although many other unregulated brokers require less as a start.

 

There is no information on the website on the broker’s spreads, and when we tried to open a demo account to try out the platform and trading costs, it turned out that this is impossible, until you deposit real funds.

 

The Company. Security of Funds

 

Company

Country

Regulation

 Badale Invest Ltd.

Scotland, UK

N/A

 

10Markets is a broker of forex and contracts for difference (CFDs) on currencies, stocks, indices, and shares on the popular MetaTrader 4 platform. It is a brand name of Badale Invest Ltd. – a company, registered in Scotland, UK. However, 10Markets.eu does not provide information about any authorization to provide such services in the UK. Instead, the broker's website provides link to a license in Vanuatu, which is attributed to another company - Whitestone Securities Limited. We are quite confused wich is the company behind the brand and whether the two above-mentioned firms are related. Anyway, Vanuatu is an offshore zone and we advise traders to avod brokers registered offshore as a general rule.

 

Worse still, 10Markets has been included in the warning lists of UK’s FCA, Australia’s ASIC and Cyprus’ CySEC for targeting investors without holding a forex broker license. Besides, the Forex Peace Army recommends extreme caution when dealing with this broker, as it has received multiple suspicious and fake positive reviews about these broker, as well as complaints about withdrawal problems.

 

Considering the above said, whatever the trading conditions offered by 10Markets, we do not recommend doing business with it, at it is not regulated and is probably a scam. You’d better select a broker with decent regulation, such as those licensed by the UK’s FCA or Australia’s ASIC, for example.

 

Trading Platforms

 

10Markets supports MetaTrader 4 (MT4), the most popular platform among both forex brokers and traders. It is available as a desktop download, web-based version and mobile apps.

 

Besides, it offers auto trading via Mirror Trader.

 

Methods of Payment

 

10Markets offers its clients the following deposit/withdrawal methods: via credit/debit card, wire transfer, ecoPayz, POLi, CashU, giropay, iDEAL. WebMoney.

 

Conclusion

 

10Markets is a forex and CFD broker that is headquartered in Scotland and supports the popular MetaTrader 4 platform. It is not licensed by any authority and there is not much information about the trading conditions on its website. What is worse, this broker is present in the warning lists of UK’s FCA, Australia’s ASIC and Cyprus’ CySEC, so we don’t recommend doing business with 10Markets. To sum up the above:

 

Pros Cons
MT4 available Not regulated, insufficient info about trading conditions
  Present in the warning lists of numerous regulators & likely a scam

 

Latest news about 10Markets
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Traders` reviews for 10Markets

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

 

 

It is a shameless scam

I lost >£50000I and am devastated I don't know if it is possible to get any of it back or whether I have a case They kept pressuring me to put more money in winning and losing it They were bullies trying to make me take out bank loans and mortgage my house borrow from my family. My account manager Ms Kafka coned me into putting in more and more money in and then suddenly I could not talk to her because she was no longer with the firm. but they still kept on pestering me to put more money in. it is a shameless scam. I am surprised they are still allowed to operate.

Satwant Bamrah 05/31/2019

False Account

I had a call from a woman saying she if from 10Markets, and that I have an account containing E4500. I said in that case close it & send me the money.

She then wanted to connect through Anydesk to send it to me. That's when I told her to call back to-morrow

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Sid Nothard 02/27/2019

I lost all my deposit with 10Markets!

Hi, my name is Sanny Damsberg.

I lost all my deposit with 10Markets! Can someone please help me, how do I get my money back ?

Sanny Damsberg 10/17/2018

I lost $ 1000 USD

I lost $ 1000 USD after Anastasia Petrov advise me to trade with 10markets, she ask me to make use of my ipad because my PC was very slow. Since then I could not get hold of her and she was transferred to another division and I'm not allowed to talk to her.

while she was advising me how to trade she ask me to do some transactions and we keep on doing it entering it because we could not get through, and this my first time to trade but. When I started to trade she told me that I have been given a bonus of $500 to be added to my $1000 so that it can make it more. At the beginning of this year I was told that I lost everything, and to make matters worse no communication was send to me that Anastasia is no more my account manager. Is it really fair. Phillip Bradley phone me and insist that I have to add money to recover the money and he was not accommodative and how could you recover your money if you have lost it. I'm so disappointed with 10markets. Why are they asking somebody to put money when you lost it, this how we are suffering

Elizabeth Shaanika 01/29/2018

10markets - I lost $97000

I lost $97000 USD All of my retirement money gone I am now trying to make ends meet on just my pension I am 75 years old and cannot replace that money
I am devastated I dont know if it is possible to get any of it back or whether I have a case They kept pressuring me to put more money in winning and losing it They were bullies trying to make me take out bank loans and mortgage my house borrow from my family and they wouldnt let me withdraw when there was money in there. You cant walk away from it when you have lost large sums you have to hang in there to try and get SOME back but you never do get any back Brokers name was Danny Morgan but I believe he has left now pig of a man but I had to be nice to him so that he wouldnt dump me fancy that having to pander to an accounts manager so as not to upset them !!! so that they will keep trading for you That should read 0 stars !!!! Was and still is a nightmare

Sylvia Biddick 12/07/2017
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