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TenkoFX Review – is it scam or safe?

TenkoFX Review - Is it scam or safe forex broker?

RATING: 2.5 / 4 REVIEWS TenkoFX
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 Trading accounts and conditions

 

Account type Minimum Deposit Minimum trade size Maximum leverage Average spreads
STP (MT4) $10 Forex- 0.01, Indices - 0.1 1:500 Variable, 0.6, commission $2.0 per 1 lot traded.
ECN/PAMM (MT4)  $100  Forex- 0.01, Indices - 0.1  1:200 Variable, 0.6, commission from $1.2 per 1 lot (1way) 

 

TenkoFX offers two types of accounts: STP and ECN/PAMM, as well as a demo account. The auto trade options also exists, via the MyFXBook AutoTrade service. 

 

The broker offers trading in forex, gold, silver and indices.

 

The Company. Security of Funds

 

TenkoFX is an offshore-regulated broker, owned by Tenkofx Ltd. The company is based in Belize and is licensed by the International Financial Services Commission (IFSC) of Belize.

 

Of all the offshore zones that host forex brokers, Belize is the most reliable, but the IFSC is by far not the most reliable of all regulators, compared to the likes of the Financial Conduct Authority. It is known for its lax requirements and relatively low fees and is rather attractive for many forex brokers, small and large. Generally most of the brokers regulated by the IFSC abide by the rules, but one must nevertheless be careful when dealing with offshore brokers.

 

Trading platforms

 

TenkoFX offers trading on the MetaTrader 4 (MT4) platform for desktop, web and mobile devices.

 

MT4 is one of the most popular trading platforms and is used by hundreds of brokers. It lets users develop and implement their own strategies, place market and pending orders, trade from a chart. The platform features instant execution, stop orders and trailing chart, tick chart, trading history, and technical analysis tools.

 

Promotions

 

TenkoFX gives a $30 welcome bonus to all new clients. There is also the ECN Gravity promotion, which offers 3 months of trading with liquidity costs of just $10 per million to clients who deposit $1000 or more.

 

Methods of payment

 

TenkoFX accepts payments with a bank transfer, debit and credit cards, including China UnionPay and the electronic payment systems Neteller, Skrill, Qiwi Wallet, FasaPay. The broker also accepts deposits in Bitcoins.

 

Conclusion

 

TenkoFX is an offshore-regulated forex broker that offers trading in the most popular forex pairs, as well as some precious metals and indices. The maximum leverage for one type of accounts is 1:500, which is rather high, while the spreads, even though variable, are rather tight (below 1 pip for major pairs).

 

To sum it up:

 

Pros: Cons:
STP accounts Offshore-regulated
Tight spreads  
High leverage  
Demo account  
MT4  

 

 

Latest news about TenkoFX
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Traders` reviews for TenkoFX

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

 

 

TenkoFX PAMM

I like how the PAMM accounts are organized. I intend to open a PAMM account with them, I trade quite well, and they will support me with an investment. I found out in support already, I suit them!)

Richard 09/23/2017

Recommend

Many brokers waiting when you lose your money, maybe Tenko is also waiting, but every time when I make a request to withdraw funds of my profit. I get them. And I think that's all that I need for my trading. I use an STP account, because if you have not day trading strategy's you will save your money. STP have not any commissions but spread a little bit more. On ECN account spread less, but you pays commission. It's suitable if you have intraday or scalping strategy.

KingKong 04/14/2017

Suitable for EAs

Tenko nice broker, they have tight spreads on ECN account and good execution of orders. I use EAs and I don't ran into a problem with them. They haven't much promotions, but MT4 works properly.

Katerina 03/27/2017

Good broker

These guys have features that other brokers offer at higher requirements. Your trading will be comfortable and your can earn money without any restrictions.

Milko 02/14/2017
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