About 10TradeFX

10TradeFX is a global trading broker that provides CFD trading in a wide range of marketplaces. Although the term implies a focus on forex, a broker can also provide access to cryptocurrencies, commodities, stocks, and indices. This 2021 10Trade review will look at major components of the company’s services, including as fees, platforms, spreads, and regulatory status.

Evalanch Ltd. owns and operates 10TradeFX, a global digital trading platform that was created in late 2020. The company is situated in Seychelles and is licensed by the Seychelles Financial Services Authority (SFSA). There are no limits on the territories from which clients can register, thus traders from all around the world can use the broker and lawfully utilize its services.

Trading platform

10TradeFX, being a STP broker without a dealing centre, guarantees no requotes and minimum transaction slippage. Customers can deposit and withdraw monies from their accounts, which they can create and manage using the customer site. To conduct transactions, the broker use the well-known and dependable MetaTrader 5 (MT5) platform.

MetaTrader MT5

MT5 is MetaQuotes’ most recent trading platform, and it is the favoured software of many online brokers, as well as retail and professional traders. MT5, which is available for Windows, Linux, and macOS, is one of the industry’s leading free third-party trading software solutions.

MT5 boasts many important trading features:

• 21 timeframes
• 100 price charts
• Integrated signals
• Copying trading instruments
• Automated trading
• 38 built-in indicators
• 6 types of pending orders
• Hedging and Netting Support

Assets and Markets

10TradeFX offers its clients a wide range of markets. The broker provides trading:

• Forex – 39 major, minor and exotic currency pairs
• Commodities – four indices (two precious metals and two energies) plus three commodity indices.
• Stock Indices – nine major global stock indices including the FTSE 100 and S&P
• Shares – 15 CFDs on selected stocks from the US, UK and European markets.
• Cryptocurrencies – Bitcoin, Ethereum, Ripple, and Litecoin, all in relation to the US dollar.

Commissions and spreads

10TradeFX charges commissions and spreads based on the client’s trading account and the asset they desire to trade. The broker does not charge commissions on most deals, however a 0.1 percent cost is levied when trading CFD stocks.

For major currency pairings, the spreads are 3 pips for Silver accounts, 2 pips for Gold accounts, and 0.5 pips for Platinum accounts. Minor and exotic currency spreads range from 2 to 35 pips.

Leverage

10TradeFX offers variable leverage rates of up to 1:600. This is a substantial amount, and traders should exercise caution when dramatically increasing their position holdings. The broker has a margin requirement of 50% and a stop out of 30%.

Mobile applications

Clients of 10TradeFX may also download the mobile version of the MetaTrader 5 platform, which is accessible in the app stores for iOS and Android smartphones. With a wide range of order types and the option to manage accounts from your portable device, our mobile software makes it simple to trade on the go. In addition, this edition includes 30 technical indicators and 24 analytical tools.

Payment Methods

Clients of 10TradeFX can fund their accounts using a variety of methods, including wire transfers, Neteller, Skrill, 4Cash, and Nganluong. Credit and debit card deposits and withdrawals are not supported. There is a minimum deposit of $200 and a withdrawal limit of $100.

Deposits made using e-wallets are processed promptly, while wire transfers are credited to 10TradeFX brokerage accounts within three business days. There are no deposit fees, however e-wallets other than Neteller may incur a 1-2 percent cost. Requests for withdrawal must be completed within 24 hours.

Demo account

Newcomers to the financial markets will be relieved to learn that 10TradeFX provides a risk-free sample account. A paper trading account, financed with digital cash, may be setup for new and existing clients to train MT5.

Registration bonus

10TradeFX provides new clients with a 30 percent initial deposit incentive in the form of a trade credit. The maximum incentive is $3,000.00.

The wagering requirements for this offer are pretty strict: you must trade 10 Forex lots for every $ 100 of the bonus that must be paid, which is quite challenging. Any leftover bonus cash will be lost if you withdraw any or all of your initial investment.

Regulation and licensing

10TradeFX is officially based in Seychelles and is licensed by the Seychelles Financial Services Authority (SFSA). This means that clients are somewhat protected in the event of broker abuse or insolvency, although the agency is not a top-tier regulatory body, which is generally recommended.

Additional features

Through the MetaTrader 5 platform, 10TradeFX clients can perform copy trading and automated trading, which allows them to open and close positions without manual intervention. The broker also has a section on their website dedicated to market news and educational content.

The Broker’s “Learn How to Trade Forex and CFDs” section is empty, although other parts of the website have guides on the basics of Forex and the basics of technical analysis. 10TradeFX also provides an economic calendar listing important daily events for broker-supported assets. The weekly market news section provides a summary of the upcoming trading week.

The broker offers alternatives to Islamic accounts for traders at all levels.

Account types

There are three account levels available at 10TradeFX, which can be accessed by increasing the deposit amount.

Silver account

• minimum USD 100 on the account
• Minimum deposit $ 200
• 3 pips spread on major currency pairs

Gold account

• minimum USD 1000 on the account
• 2 pips spread on major currency pairs

Platinum account

• Account minimum $ 5,000
• 5 pips of spread for major currency pairs

Advantages

• Access to MT5
• Leverage 1: 600
• Crypto trading
• No deposit fees
• Wide range of markets and CFDs
• Free Withdrawals Through Neteller
• Zero commission trading (excluding stock CFDs)

disadvantages

• Big spreads
• Not supreme regulation
• Limited stock tools
• High minimum transaction limits