10trading Review

10trading Review by professional Forex trading experts the “” FX trading team, Finding out everything you need to know about the broker is in this 10trading Review.

10trading Review

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.

While some technical indicators are available, their implementation is done very poorly.

After multiple minutes of clicking on all possible places, we couldn’t find a way to decrease its size.

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

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.

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.

The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.

10trading Review Conclusion

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