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10trading Review - Is it scam or safe?

10trading Review - is 10trading.com scam or safe forex broker?

RATING: 1 / 14 REVIEWS
10trading is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts

Account type Minimum deposit  Maximum leverage Spread Welcome bonus
Basic $250 1:200 From 3 pips* 20%*
Bronze $1,000 1:200 Unknown 30%
Silver $2,500 1:200 Unknown 40%
Gold $10,000 1:200 Unknown 60%
Platinum $25,000 1:200 Unknown 80%
Black $100,000 1:200 Unknown 100%

 *This is the spread we received at the platform. It isn’t mentioned if conditions improve for the better account types. When it comes to the deposit bonus, there is an asterix in place at the company’s website but no further explanation is given.

 

10trading is a Forex and CFD broker, which also provides something similar to binary options. They call it “speed trading”, but in essence, it is pretty much the same.

 

The Company. Security of Funds

Company Country Regulation
Binext Solutions SRL Romania N/A

 

The company behind 10trading is Binext Solutions SRL, which is based in Bucharest, Romania. They do not claim affiliation with the local regulatory body, or any agency. This is a bit troubling for us, as dealing with an unregulated company carries significant risks. 

 

For those of you who are unaware, financial markets and investment intermediaries (i.e. brokers) are heavily regulated in most countries. This is due to the nature of the business – a company can claim to offer access to the markets, or options, or an investment opportunity and turn-out to be a complete scam. They can simply take client’s money and offer nothing in return. 

 

One of the most reputable financial regulatory agencies is the United Kingdom’s Financial Conduct Authority. It applies strict rules, regarding multiple aspects of the activity of forex brokers, two of which stand out, from a security of funds point of view. First of all, brokers must keep their client’s investments in the so-called segregated accounts. This means a company can’t access traders’ investments whenever it wishes – there are special procedures for that. The second key ruling is the mandatory participation in the Financial Services Compensation Scheme (FSCS). This is a mechanism, by which companies pay a portion of their profit to form a collective pool, much like an insurance agency works. The funds are then used as a guarantee, in case one of the participating brokers goes bankrupt. The coverage of the Scheme is £50,000 per account.

 

Trading Conditions

 

Minimum Initial Deposit

The minimum deposit, required for opening a new account at 10trading is $250. This is more than what most other forex brokers demand nowadays. There are many companies requiring only $100, like FxPro. Some go even lower, like FXTM, where you can open a cent-account for as low as $5.

 

That being said, the minimum initial deposit shouldn’t be much of a concern, unless you are willing to risk smaller amounts. There is no shame in that, just always be sure to trade with “risk capital” - money you can afford to loose without a massive impact on your lifestyle. 

 

 

Average spreads & Commissions

Spreads at 10trading appear to be fixed, although this is not disclosed by the company. They start at 3 pips on EUR/USD, which is quite high for the current state of the industry. Most brokers offer something in the 1.0-1.5 pips range. For more details, you can always check our real-time spread comparison platform, where we match the offers provided by some of the world’s leading brokers.

 

Leverage

The leverage ratio, for spot forex trading at 10trading is capped at 1:200. While you may think this is a high level, consider there are brokers who offer 1:500 or even more.

 

Don’t forget margin trading is risky and can be even riskier if you don’t fully grasp the concept. Learn the basics of risk management before you start trading.

 

Trading Platforms

 

10trading offers a proprietary web-based trading platform. It feels easy to grasp, but also not very advanced. Here is a preview:

 

 

 

 

While some technical indicators are available, their implementation is done very poorly. Take a look at the same chart after the RSI is applied: 

 

 

 

After multiple minutes of clicking on all possible places, we couldn’t find a way to decrease its size. Needless to say, this is very much a useless chart.

 

The Speed Trading platform feels exactly the same – the place where you enter your trading parameters is the place where you specify your option. Here is a look:

 

 

Overall the platform does its job ... barely. The charting package is not impressive ny any means. There is no basis for comparison between this platform and MetaTrader, the most popular one.


Methods of Payment

 

10trading provides a lot of payment methods. Other than the traditional Bank Transfer and Credit/Debit Card, there are several e-wallets, including but not limited to Giropay, Skrill, Neteller.

 

Conclusion

 

10trading is a forex broker and binary options provider. The company is not regulated, which is a big concern. Trading conditions are worse than the current industry average. While their bonus offer may seem tempting, there are conditions attached to it, which aren’t very clear. Here are this broker’s pros and cons:

Pros Cons
Lots of payment methods No regulation
  High spreads
  Basic trading platform
  Poor presentation of trading conditions

 

 

Latest news about 10trading
No news about 10trading. Check back later.
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Traders` reviews for 10trading

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

 

 

10 trading SCAM!!!!

Complete SCAM - take your money and wont return when stated that they will at any time!!!

Nick Reynolds 07/16/2018

no responds

I,m not happy at all with your trading I,m really tired dealing with your trading you always requesting $5000 deposit even i said I don't have that much I tried to refund (withdrew )since more than 3 weeks my fund your broker tyler ogrody could not believed he promise and promise time to time he requesting to refund my fund deposit at least$250 you have a problem to make refund unless I deposit minimum $250 because of his lies I lost extra money to the bank the bank charged me late payment and exceed credit limit AED,766($250) this is the benefit I got now I have a big financial problem Tyler promise me last week he said that I will refund your fund and your profit I,m awaiting and awaiting before that ( 04/07/2918) I requested withdrawal through your website $2129.92 I received a letter itis processing it after 2 or 3 days it was automatically canceled

Athula Kaluarachchi 07/11/2018

10trading owe me £33,000

10trading owe me £33,000. I am having a massive problem getting my money back from them even though they have said that it is on its way. I don't know what to do, i feel helpless and hopeless.

Tony Boswell 07/02/2018

10 trading

Very strange that after 3 months of them being told that they are thieves and fraudulent they still contact us each day trying to persuade us to verify some forms for transactions that they appear to have made against a bank account which has been stopped and the banks are looking at for this reported scam. How can we catch these people red handed. We hang up on them and they ring back never listen to a word we are saying and telling us we don’t know how to listen to them. Next reporting them to rip off Britain need this warning out there. Anyone had their money back at all?

Anon 03/14/2018

bugiardi estorsori!!!!!

bugiardi ho perso 500 euro senza fare operazioni non appena ho ritirato mi hanno fatto perdere tutto, non investite sono imbroglioni estorsori state lontani da queste persone

Translated by Google:

liars I lost 500 euros without doing operations as soon as I retired they made me lose everything, do not invest are fraudsters extortion been away from these people

antonio 03/01/2018

Falsari!!!!!

ATTENZIONE!truffa…prima ti fanno investire e sembra che tutto proceda bene ma al momento che vuoi prelevare i tuoi soldi investiti, ti prosciugano il conto Senza lasciarti nemmeno un centesimo. Se vuoi contattarli tutti gli indirizzi forniti sono inesistenti

Translated by Google:

ATTENTION! Scam ... first they make you invest and it seems that everything goes well but when you want to withdraw your money invested, they dry up the account Without leaving you even a penny. If you want to contact them all addresses provided are non-existent

giorgio 02/09/2018

Binary bonds

Chelsea Hamilton is rude pushy and conned a member of my family out of thousands. do not believe their lies, they are nothing but lying thieves

Smith 01/30/2018

ESTORSORI Truffatori !!!!!

TRUFFATORI !!!! 10TRAding ho investito $ 250 dicendomi di affiancarmi un consulente e di avermi aiutato ad operare sulla piattaforma niente di tutto questo, il consulente mi contattava ogni giorno diceva di depositare di piu soldi 2000 o3000 Euro ho detto di non avere quel denaro.poi ho fatto il ritiro ma il conto era bloccato ho contattato il consulente e gli ho detto che mi sarei ritirato e di darmi i miei 250 $ ha detto di avere un operazine aperta non appena chiudeva me li avrebbe accreditate non e stato cosi dopo pochi giorni hanno prosciugato il conto li ho contattati e non rispondono. meno male che ho seguito il mio istinto a non investire piu soldi, sono ESTORSORI RICATTATORI Truffatori state lontani da queste persone il vosto denaro non lo vedrete piu.

Translated by Google:

SCUFFATORS !!!! 10TRAding I invested $ 250 telling me to join a consultant and helping me to operate on the platform none of this, the consultant contacted me every day he said to deposit more money 2000 or 3000 Euros I said not to have that money.Then I did the withdrawal but the bill was blocked I contacted the consultant and told him that I would have retired and give me my $ 250 said he had an operation open as soon as he closed them he would have credited it was not so after a few days have dried up the bill I contacted them and they do not answer. thank goodness that I have followed my instincts not to invest more money, they are EXTINGUISHERS RECATORS Keepers away from these people will not see your money any more.

Giuseppe 01/25/2018

Scam

After your staff manage lost all my money I just can't contact with yours,very poor costumer service.after over 5 weeks of lies finely I find my account as close with no explanation,I'll do everything in my power to let everyone know about your poor service and to go over. I'll go to get my money back,believe me.

Rui Abreu 01/18/2018

10trading is a total rip off

Do not trade with this company under any circumstances.They use bogus phone numbers which are uncontactable. My account was suddenly closed and my 10,250 usd is gone.Paul Williams is most likely a bogus name but do not trust any of them. They are just theives

Tony Bassett 01/15/2018

I have invested over £50000 into 10Trading.com

Do not touch this company with a barge pole. I have invested over £50000 into them and made profits of about $100000. As soon as I said I wanted to withdraw my money, they terminated my account without any reason. They have just dissapeared from the face of the earth. Bastards have left me penniless.

Arfon Wynne 01/15/2018

10Trading are crooks

10Trading are crooks. They asked me to deposit $1000 to withdraw $775. They admitted guilt in loosing my money but in order to refund me I must $1300 I must deposit $1300.in order to withdraw funds. They are rude and just plain scum scam artists.

Jern 12/09/2017

imbroglioni

Sono dei ladri, truffatori ed imbroglioni, state tutti alla larga da questi malfattori

Translated by Google:

They are thieves, swindlers, and swindlers, all of you away from these malfatters

Francesco Goffredo 11/18/2017

agressive metodes and hard to get out off

After i had paid my initial $250 and my account was active an broker (my personal broker) called me for a little chat and said that i needed to add more money if i wanted to make anything out of this, i explained my plan to him (that i intended to add $250 every 2. week) and he accepted that,

Or i thought he did..... some dayes later he called again and told me that during next week the president of ECB would talk and when he did that the euro would rise so it would be smart to have at least $10.000 in the account so if i could not borrow the money somewhere, i told him that i did not want to spend any money that i did not have and that it is impossible for me to take a loan anywhere due to registered in several debt databases, he did not believe that that was possible in a country so favorable by so many people so he wanted to se it for himself.. he saw it and i felt like i was worth less than a dogshit on his foot sole..... and then his connection suddenly broke
I tried to withdraw all my money from the site (but i had not send all the documents they needed for that) then he called me again to ask why i wanted to withdraw it all, I told him i felt preasured by him to do things i was not ready to do yet, that i want to build up my account slowly and if i missed out om big events for the next year, then be it, and then he hung up on me again....
Then he called me one day late at night to tell me that the president of ECB should talk tomorrow in washington so my account needed to have at least $2500 and then it would be almost $10.000 next night, again i told him that he was asking me for things that i already have explained to him that was not possible with my budget, this time he said bye before hanging up....
now i have had enough and, after having provided the papers they asked for, asked for my money (and earnings) returned to me, i got a fine mail that my broker would contact for confirmation, now, one working day, 24 hours, after the request i have not heard anything from them, even that i have tried to call them, mail them, ask for callback and written to the broker (who was online) via skype.......
I'll give them
***** for lag of empaty
***** for lag of customer care and understanding
***** for lag of Responce

uffe norspang 10/20/2017
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