It’s easy to miss those resources, so one should note that this section of the website can be accessed through the FAQ page. Experience all the advantages of automatic trading with the MyFXBook AutoTrade service. AutoTrade lets you copy trading transactions straight into your TenkoFXaccount. Link your MT4 account to selected signal providers published by Myfxbook.
- Multiple promotions are available, including a loyalty program, reduced commission, a trading competition, etc.
- Clients can choose between online, desktop, and mobile trading platforms (iOS & Android).
- Another advanced trading functionality is the ability to participate in automated trading with advanced algorithmic trading strategies made possible with the implementation of Expert Advisors (EAs).
- Established in 2012, we have come to the international Forex market in just one year due to our unique products, which make your transactions in the Forex market easy and profitable.
Every trader that opens an account through TenkoFX will have the advantage of trading from the highly popular MetaTrader 4 platform. MT4 was designed as a powerful, all-in-one option that is highly flexible and navigable. The platform provides a wide range of technical analysis tools while allowing one to execute trades efficiently, generate trading signals, and program MQL-based trading algorithms. Available on desktop, mobile, and through the web-browser, MT4 is also an accessible option that supports trading on the go from various devices, including iPod/iPad/tablets.
How was the rating of Tenkofx performed compared to other brokers?
We only found a technical blog and a few news sources when we looked at the website. Traders and investors have no blogs, vlogs, VOD, or webinars to look up to. It is critical for a broker’s platform to have a diverse set of educational and research tools.
- Equity of less than $1K with less than 5,000,000 trading volume results in the largest $40 fee.
- One of the biggest differences between accounts would be the tradable instruments that are available.
- In addition, the broker offers more than 50 currency pairs for those who want to trade on Forex.
- TenkoFX is an offshore trading brokerage that’s based out of Belize with their headquarters located at Tenko Systems Limited, Corner of Jews Street & Marion Avenue, Ramsbury Site, Charlestown, Nevis.
- Lastly, if you deposit 1,000+ USD you supposedly get 3 months of trading with liquidity costs of just $10.
Besides lots of currency pair,
TenkoFX also offers some instruments you would like to trade on, such as
Forex, Gold & silver and CFD for your best choice. The broker’s website claims that service is not offered to residents of the United States, likely due to stricter regulation laws for the country. On the bright side, the registration form doesn’t actually require one to input their country of residence, and we were able to register from our US-based office with no blocks placed on our IP address.
There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. To prevent falling victim to scams in the future, always ensure that you deal with legitimate companies that are fully regulated by major regulators, such as the FCA. In the event of an exceptionally complex case they may require an upfront fee, as building your case will necessitate initial resources. Otherwise, if successful, MyChargeBack will be compensated by retaining a percentage of the recovered funds from TenkoFx, typically around 20%. Through these five straightforward steps, MyChargeBack simplifies the fund recovery process, enabling you to reclaim your money from TenkoFx with minimal inconvenience.
Margin call occurs at 50% on the STP account, 100% on the ECN account, and 30% on the Crypto account. A customer uses special PAMM ratings to choose PAMM account and then takes a decision whether to invest in it or to become its manager. It is also worth mentioning that this company presents special Verified PAMM Trader service, which allows a manager to transfer trading strategies directly from other brokers. Another important fact is that this broker’s web-site introduces a wide range of tutorials for newcomers. It gives them a chance to learn all fundamentals and start individual profitable trading.
All of the deposit options are available for withdrawal, under the condition that withdrawals must be made back to the original payment method. Some of the payment providers require large minimum withdrawal amounts. Steep fees are also charged on wire withdrawals, including a $45 USD charge. Even though AdvCash does offer free withdrawals, traders should note that the payment provider’s 7% deposit fee still makes it one of the most expensive funding methods available. Withdrawal fees for each of the remaining funding methods has been listed below. Aside from listing spreads as floating, the website doesn’t clearly detail what types of spreads one would see.
The company appears to be located in Nevis, although a UK-based phone number is provided. From three separate live account types, TenkoFX offers separate conditions, including one’s access to certain instruments, leverage options, and commission-rates. If you’re interested in opening an account, stay with us to find out more about the STP, ECN, and Crypto accounts, along with other need-to-know facts. The account types offered by TenkoFX includes an STP (straight through processing) type of account that will probably be suitable for most beginners, or others who trade with small amounts of money.
With that said, however, the spreads are not the lowest in the industry, and there are undoubtedly other brokers that can provide even better trading conditions. In addition, this broker accepts cryptocurrency deposits in BTC, ETH, LTC, BCH and USDT. TradingBeasts helps individual traders learn how to trade forex, cryptocurrencies and other assets as CFDs. We verify and compare brokerage companies and warn our readers about suspicious projects or scam marketing campaigns. We are also a community of traders that support each other on our daily trading journey.
Lastly, if you deposit 1,000+ USD you supposedly get 3 months of trading with liquidity costs of just $10. Despite years spent on the market, it doesn’t seem like TenkoFX has been excessively active. Their Trustpilot page is basically empty and it’s been a long time since the last review was posted.
For the experienced and larger traders, the broker’s ECN (electronic communications network) account is the best choice, as it gives access to the tightest spreads the broker has to offer. TenkoFX charges account holders through spreads, commissions, and swaps. There is no markup on the STP account, but information suggests a $2 fee per 1 lot traded while a 0.5% half-turn fee is applied on the Crypto account. The ECN account maintains a schedule that depends on the account’s equity and trading volume for the previous 30 days.
Sadly, when it’s an unscrupulous broker that offers them, we can’t quite trust all of these claims. If no trading operations have been carried out within 90 days, TenkoFX charges a monthly commission of $ 10 from the client for maintaining an inactive account, if funds are available on the account. Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device,
anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools
to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned
trades. First and foremost, report the incident to your local authority department. If no resolution can be reached, there is still hope to recover your funds from TenkoFx by attempting to open a chargeback case with your bank or credit card provider.
Traders will have more negligible diversification and fewer opportunities to profit as a result. Since the process of filing a chargeback case can be relatively complex and time-consuming, we recommend tenkofx review seeking assistance from our partner, MyChargeBack, by completing the form provided on top of the page. It has likely happened to many others, and it its important to learn from these experiences.
Expand your trading experience and improve your trading efficiency.