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
Badale Invest Ltd.
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.
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.
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.
10Markets Review Conclusion
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