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10trade Review - Is it scam or safe?

10trade Review - is 10trrade.com scam or good binary options broker?

RATING: 3.5 / 0 REVIEWS
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Basic Information

 

Minimum deposit  Min./ Max. bet size Payout % Platform Regulation
€500 €10 / $2500 Up to 82% SpotOption CySEC

 

10trade is a binary options broker, which appears to be targeting mainly the European market. 

 

Trading Accounts

 

There are several account types available at 10trade. Here is a breakdown of what you get:

 

Account type Min. initial deposit Welcome bonus* Trading Central
Welcome €500 20% 2 Weeks
Bronze €1,000 30% 1 Month
Silver €2,000 40% 3 Months
Gold €5,000 50% 6 Months
Platinum €10,000 50% 1 Year

 

 *The welcome bonus will be removed soon, due to regulatory changes.

 

 10trade allegedly has a partnership with the technical analyisis providers at Trading Station. We are not sure if this partnership is still in place and exactly what reports a client will get, for the duration mentioned.

 

The Company. Security of Funds

 

 

Company Country Regulation
Holiway Investment Ltd. Cyprus CySEC

 

10trade is being operated by Holiway Investment Ltd., a CySEC-regulated company. Regulation is a rarity, when it comes to binary options brokers and gives the company a lot of credibility.

 

For those of you who don’t know, financial regulators are (mostly) government agencies who impose rules on the companies who are registered with them. CySEC is the agency in Cyprus. While financial markets may not be your first association with the island, Cyprus has became a hot-spot for binary options and forex brokers. This is due to many factors, on of which is the country’s EU membership, which grants every registered broker the ability to operate in the entire Single market. 

 

In terms of the security of your funds, CySEC enforces two major rules. First and foremost, all CySEC regulated companies must keep their clients’ funds in the so-called segregated bank accounts – accounts which the company can not freely touch. Furthermore, all companies must participate in the local compensation scheme – a mechanism which acts as an insurance company, in order to protect clients against their broker going bankrupt. The Cypriot scheme covers up to €20,000 per account.

 

That being said, CySEC was considering to stop regulating binary options providers in the summer of 2017, so if this occurs clients of 10trade will loose these protections. 

 

Unlike many other binary options brokers 10trade doesn’t have negative reviews on popular forums. This should be considered as a good sign.

 

Trading Conditions

 

Trading Options: Call/Put, Pairs, Long term, 60 seconds, One Touch, Ladder

Assets:  Currencies,  Indices, Commodities, Stocks, Stock Pairs,

 

Minimum Initial Deposit

The minimum initial deposit at 10trade is €500. This is rather high entry barrier, considering even some forex brokers now accept smaller deposits. As an example, you can open an account with the FCA-regulated industry-leading broker and spreadbetting provider IG, with whatever sum you want – there is no minimum deposit level.

 

Min. bet size

10trade offers a minimum bet size of $10. While this is not the highest level we have seen, it also isn’t very low.  Keep in mind, a lower bet size will allow you to control your risk better. For instance, at Grand Capital you can buy a binary option for as low as $1.

 

Payout amount

Payouts at 10trade vary around the 80%. The highest one we saw, while making this review was 82%, with 77% being the most frequent one. Other binary option  providers offer slightly higher payouts, like Grand Capital, where the maximum is 86%.

 

Trading Platform

 

Trading at 10trade is done via the SpotOption platform. This is a popular technological solution, which many binary option providers implement. Here is a preview:

 

 

Everything is basically self explanatory. You change the type of option via the top menu and you can change the instruments and trade parameters in the lower ones. 

 

Methods of Payment

 

A lot of payment methods are available at 10trade. The traditional Bank transfer and credit/Debit Cards are accompanied by over 20 e-wallets, which are mostly focused on European countries. The more popular ones are Webmoney, YandexMoney, Qiwi, Paysafe Card and CashU. 

 

Conclusion

 

10trades is a CySEC-regulated binary options broker. The company offers the popular SpotOption platform, which is also a plus. The payouts appear to be slightly lower than the ones provided at other binary brokers, but in general this appears to be a solid company. Here are the pros and cons:

 

Pros Cons
CySEC regulation Slightly lower payouts than other brokers
SpotOption platform High minimum deposit and minimum bet size
Lots of payment methods  

 

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Traders` reviews for 10trade

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