10TradeFX Review 2024


2.8 / 5
10TradeFX is #13 in our CFD broker rankings.

After testing all the features at 10TradeFX, I think it would be a good choice for novice traders looking for an integrated online learning academy and copy trading services. However, the offshore regulation is a major red flag for me and I was disappointed in the small range of assets.

- Daytrading Review Team

10TradeFX is an offshore regulated forex and CFD broker. The brand offers MetaTrader platform integration with spreads as low as 0.1 pips. The broker offers true STP and ECN execution. The low minimum deposit, social trading and funded trader account programme makes 10TradeFX appealing to new traders.

$50
MT5
CFDs, Forex, Stocks, Cryptos, Commodities
30% Deposit Bonus
USD
Wire Transfer, Neteller, Skrill
Forex Trading

My tests uncovered an average range of 40+ major, minor and exotic currency pairs with spreads as low as 0.1 pips and leverage up to 1:500. I like that the broker offers flexible contract sizes between 0.01 and 1 lot.

Stock Trading

I was pleased to find some of the most liquid US and UK shares at 10TradeFX, though the range is fairly small compared to competitors. Commissions are reasonable at 0.10% and hedging is permitted.

CFD Trading

10TradeFX offers 200+ CFDs available to trade on the MT5 terminal. This is a relatively small range compared to most competitors I've reviewed. That said, the minimum deposit requirement to get started is only $50, which is great news for beginners.

Crypto Trading

There are 10+ crypto instruments available, including Bitcoin, Ethereum and Litecoin. Again, this is pretty limited for active crypto traders but I am glad to see some popular altcoins available 24/7 including Polkadot and Chainlink.

✓ Pros

  • I appreciate the flexible access to the MetaTrader 5 web and mobile platforms as well as TradingView charting and copy trading functionality
  • There are some diverse and popular asset classes on offer including forex, stocks, crypto and NFTs
  • I'm a fan of the comprehensive learning academy backed by London’s Association of Trading & Investment (ATI)
  • I like that traders can benefit from the Funded Trader program with up to $500,000 account size and 70% profit split

✗ Cons

  • I'm disappointed that the broker is regulated offshore by the Seychelles Financial Services Authority (SFSA) and is not overseen by any top-tier authority
  • I don't like how limited the shares offering is at 10TradeFX, putting them low in my rankings for market availability

10TradeFX is a global trading broker providing CFD trading on a range of markets. Despite its name suggesting a forex specialisation, access to cryptocurrency, commodities, stocks and indices is also possible through the broker. This 2024 10Trade review will explore key aspects of the firm’s services, including fees, platforms, spreads and regulatory status.

10TradeFX Headlines

Founded in late 2020, 10TradeFX is a global digital trading platform owned and operated by Evalanch Ltd. The firm is based in Seychelles and registered with the Seychelles Financial Services Authority (SFSA). There are no restrictions on which jurisdictions clients can register from, meaning traders from all around the world can use the broker and legally gain access to its services.

Trading Platform

As an STP broker with no dealing desk, 10TradeFX promises no requotes and minimal slippage on trades. Clients create and manage accounts via the client portal, from which funds can be deposited and withdrawn. For trade execution, the broker uses the widely popular and reliable MetaTrader 5 (MT5) platform.

MetaTrader MT5

MT5 is the latest trading platform developed by MetaQuotes and is used by many online brokers and both retail and professional traders as their preferred software package. Available for Windows, Linux and macOS, MT5 is one of the leading free, third-party trading software tools in the industry.

MT5 boasts numerous important features for trading:

Assets & Markets

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

Fees & Spreads

The fees and spreads charged by 10TradeFX vary depending on a client’s trading account and the asset they wish to trade. The broker offers zero-commission trading for most trades, although CFD stock trading incurs a 0.1% commission charge.

Spreads for major forex pairs are 3 pips for Silver accounts, 2 pips for Gold accounts and 0.5 pips for Platinum accounts. Minor and exotic currency pairs have spreads ranging from 2 to 35 pips.

Leverage

10TradeFX boasts flexible leverage rates that range up to a competitive 1:600. This is quite high and traders should take care when significantly magnifying their position sizes. The broker operates a margin call at 50% and stop-out at 30%.

Mobile Apps

10TradeFX clients can also download the mobile version of the MetaTrader 5 platform, which is available on both iOS and Android devices from the relevant application stores. This mobile app allows easy trading on the go, with the full range of order types and account management capability, all from a hand-held device. This version also boasts 30 technical indicators and 24 analysis tools.

10TradeFX mt5 trading platform for crypto and forex trading
MetaTrader 5 Platform

Payment Methods

10TradeFX clients can fund their accounts using a range of methods, including wire transfers, Neteller, Skrill, 4Cash and Nganluong. Deposits and withdrawals are not supported using credit or debit cards. There is a minimum deposit limit of $200 and a minimum withdrawal limit of $100.

e-wallet deposits are processed instantly and wire transfers take three working days to appear in 10TradeFX brokerage accounts. There are no deposit fees charged, though e-wallets other than Neteller can incur a 1-2% fee. Withdrawal requests should be processed within 24 hours.

Demo Account

Those new to the financial markets will be pleased to hear that 10TradeFX offers a free demo account for risk-free trading practice. The paper trading account can be opened by new and existing clients for MT5 training and is funded using digital capital.

10TradeFX Sign-up Bonus

10TradeFX offers new customers a first deposit match bonus of 30%, paid out in trading credit. The bonus is capped at $3,000 and is subject to somewhat vague terms and conditions.

There are quite strict wagering requirements in place for this bonus, with 10 forex lots needed to be traded per $100 of bonus to be released, which is quite tough. If you were to withdraw some or all of your initial deposit, all remaining bonus funds are forfeited.

Regulation & Licensing

10TradeFX is officially based offshore in Seychelles and holds a regulatory license with the Seychelles Financial Services Authority (SFSA). This is a weak financial regulator with little in place to protect client funds.

Additional Features

Through the MetaTrader 5 platform, 10TradeFX clients can carry out copy trading and automated trading, which allow positions to be opened and closed without manual intervention. The broker also has a section of its website dedicated to market news and educational content.

The broker’s “Learn How To Trade Forex & CFDs” section is blank, though other parts of the website offer guides to forex fundamentals and technical analysis basics. 10TradeFX also provides an economic calendar that lists significant daily events for the broker’s supported assets. A weekly market news section delivers a brief summary of the trading week ahead.

The broker offers Islamic account alternatives to traders at every level.

Account Types

There are three levels of accounts available through 10TradeFX, accessed by increasing deposit amounts.

Silver Account

Gold Account

Platinum Account

Trading Hours

Both the 10TradeFX client portal and MT5 trading platform can be accessed 24/7. Trading itself is subject to the specific market, with forex running 24/5 and cryptocurrency available around the clock. Other instruments are more dependent on the underlying markets, such as stock or derivatives exchanges.

10tradefx 2021 review and trading conditions
10TradeFX Market News

Customer Support

The 10TradeFX support team can only be contacted through email, with no live chat or phone number available.

Safety & Security

10TradeFX holds client funds separately from company capital does not use them for business purposes or to hedge trades. Clients capital is held in secure, tier 1 EU banks for maximum security.

The MT5 platform offered by 10TradeFX is secured with high levels of encryption and supports two-factor authentication (2FA) to provide additional safety to traders.

10TradeFX Verdict

10TradeFX offers clients a range of trading options on many markets, including forex, commodities, indices, cryptocurrencies and stock CFDs. MetaTrader 5 access provides intuitive yet sophisticated technical analysis and trading systems for clients of all experience levels and the low-commission, high-leverage conditions are quite competitive. However, some traders may be put off by large spreads, limited stocks and high transaction limits.

FAQs

Does 10TradeFX Have Any Bonuses On Offer?

10TradeFX runs a 30% first deposit promotion for new customers. However, traders should make sure they understand the terms and conditions, especially the high wagering requirements, before opting in.

Does 10TradeFX Offer A Demo Account?

Traders will be pleased to know that 10TradeFX offers a demo account that can be used for risk-free practice after signing up to the broker’s platform.

What Do The 10TradeFX Account Levels Mean?

According to the 10TradeFX website, the only difference between Silver, Gold and Platinum account levels is the spreads on major currency pairs. For a Silver account, this is three pips, reduced to two pips for a Gold account and 0.5 pips for Platinum account members.

What Platform Does 10TradeFX Support?

10TradeFX supports the MetaTrader trading platform, which is incredibly popular globally. This platform is available in both desktop and mobile app formats for enhanced access to trading.

From Where Can I Open A 10TradeFX Account?

10TradeFX offers its brokerage services globally. The website is available in English, Polish, Russian, Arabic and Vietnamese.

Top 3 Alternatives to 10TradeFX

Compare 10TradeFX with the top 3 similar brokers that accept traders from your location.

  1. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
    Go to Interactive Brokers
  2. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
    Go to World Forex

10TradeFX Comparison Table

Compare 10TradeFX With Similar Brokers
10TradeFX Interactive Brokers IG World Forex
Rating 2.8 4.3 4.4 4
Markets CFDs, Forex, Stocks, Cryptos, Commodities Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
Demo Account Yes Yes Yes Yes
Minimum Deposit $50 $0 $0 $1
Minimum Trade 0.01 Lots $100 0.01 Lots 0.01 Lots
Regulators SFSA FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA SVGFSA
Bonus 30% Deposit Bonus 100% Deposit Bonus
Education No Yes Yes No
Platforms MT5 Trader Workstation (TWS), Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral MT4, MT5
Leverage 1:600 1:50 1:30 (Retail), 1:250 (Pro) 1:1000
Payment Methods 3 6 6 10
Visit Visit Visit Visit Visit
Review Interactive Brokers
Review
IG
Review
World Forex
Review

Compare Trading Instruments

Compare the markets and instruments offered by 10TradeFX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare 10TradeFX Trading Instruments
10TradeFX Interactive Brokers IG World Forex
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes No Yes Yes
Gold No Yes Yes Yes
Copper No No Yes No
Silver Yes No Yes Yes
Corn No No No No
Crypto Yes Yes Yes Yes
Futures No Yes Yes No
Options No Yes Yes No
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No No Yes No
Volatility Index No No Yes No

10TradeFX vs Other Brokers

Compare 10TradeFX with any other broker by selecting the other broker below.

 

Customer Reviews

There are no customer reviews of 10TradeFX yet, will you be the first to help fellow traders decide if they should trade with 10TradeFX or not?

Submit Your Own Review of 10TradeFX

If you have experience trading with 10TradeFX please share your personal review of the broker and what you think are strong and weak points. Thank you.

Visit
10TradeFX is an offshore regulated forex and CFD broker. The brand offers MetaTrader platform integration with spreads as low as 0.1 pips. The broker offers true STP and ECN execution. The low minimum deposit, social trading and funded trader account programme makes 10TradeFX appealing to new traders.