The organization is situated in Belize and is authorized by the International Financial Services Commission (IFSC) of Belize. Brokers like TenkoFx make sure that the ECN price, as well as some more money, is taken out of the traders pocket. Think of a riverside, with multiple bridges leading to the other side of the river. You have a guide with you, who will take you through one of these bridges.

• The lack of educational resources also limits opportunities for experienced traders to continue learning and improving their trading strategies.
• This might raise a few eyebrows, but it’s important to note that TenkoFX has been in operation since 2012 and has consistently provided services at a high level.
• So, whether you’re just starting out or you’re an experienced trader, TenkoFX has the platforms and tools to help you succeed in the trading world.
• MT4 is the industry standard, and its worth has been shown repeatedly.

The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client’s money. Inattention when reading such an agreement most often turns into a complete loss tenkofx review of the deposit. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment.

Stock Brokers

The broker gives a $30 welcome reward to every single new customer. There is likewise the ECN Gravity advancement, which offers 3 months of exchanging with liquidity expenses of just $10 per million to customers who store $1000 or more. The forex broker is a seaward directed merchant, possessed by Tenkofx Ltd.

ASSETS & SERVICES

Withdrawals are processed quickly and the broker has made it easy to reach out to a support agent if need be. The website features a training academy, in addition to news and some convenient trading tools, including AutoTrade and a trader’s calculator. Multiple promotions are available, including a loyalty program, reduced commission, a trading competition, etc. The lenient registration form also makes it possible for everyone to open an account, including US citizens. Aside from bank wire, which has a 24-hour processing time, all deposits are credited instantly.

Trading platform:

Our analysis highlights companies that offer optimal working conditions, uphold a strong reputation, and consistently receive the highest number of positive reviews from traders on our website. All account types offer demo accounts and have no limitations on the maximum balance or transaction size. So, whether you’re just starting out or you’re an experienced trader, TenkoFX has an account type that fits your needs. On the right side of the table you can see an example of CashBack calculation for the Standard Commission ($15). All platform and website with links worked easily, it is an all around good user experience.

• The broker offers trading in forex, gold, silver and indices.
• In terms of trading platforms, TenkoFX has chosen to focus exclusively on the classic MetaTrader 4 (MT4) platform.
• On the other hand, the broker’s management does not work on topical forums, which would reduce negative comments.
• If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
• Link your MT4 account to selected signal providers published by Myfxbook.

It has managed to gain trust and positive feedback from many traders. One more review from forexbrokerz dot com also many traders giving positive experience with TenkoFX, we can see on the screenshot below. From the forexpeacearmy forum, some traders provide positive reviews for TenkoFX which can be seen from the following screenshot. Additional support methods include an FAQ page and a help section where traders can read various forms of content.

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. In terms of trading platforms, TenkoFX has chosen to focus exclusively on the classic MetaTrader 4 (MT4) platform. Drawbacks of TenkoFX include its unclear regulatory status, being registered in Nevis without comprehensive oversight information, and limited educational resources, which could concern some users. Client support is notably unavailable during weekends, and the broker faces certain regional restrictions, such as non-availability in Germany. Furthermore, neither Alexon Capital Ltd nor its affiliates provide any tax, accounting, or legal advice.

If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad. If there is no information on the broker’s website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else.

TenkoFX Review – Broker With A Dark Past And Not Any Brighter Future

The first pop a potential trader will see here will be for the crypto trading account. A potential and smart trader will look for a demo account first which she won’t find when she first looks for it. By the time she has visited the demo account button, the broker exposes the trader too much more appealing areas of the page.

You should only engage in any such activity only if you are fully aware of the relevant risks. When it comes to regulation, TenkoFX operates in a bit of a gray area. While it’s officially registered in Nevis under Tenko Systems Limited, it’s not regulated by any specific government agency.

The broker applies a monthly $10 fee to accounts that have been deemed inactive, with charges occurring until trading activity resumes or the entire balance is depleted. TenkoFX is an offshore-regulated broker, owned by Tenkofx Ltd. The company is based in Belize and is licensed by the International Financial Services Commission (IFSC) of Belize. For the most accurate and up-to-date information on available payment methods and their specific terms, please refer to the official TenkoFX website or contact their customer support. 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, a price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitability by placing well-planned trades.

TenkoFX differs from these companies in that the pool of assets available to traders is combined, including currency pairs, cryptocurrencies, metals, and CFDs. The broader the pool of assets, the more diverse the strategies and methods a trader can use. Additionally, different instrument types create a diversified portfolio, where a negative trend with one asset can be offset by stable and progressing positions in others. TenkoFX does not provide comprehensive educational resources or courses for its clients. This is a significant drawback for beginners who are new to trading and could benefit from educational materials to understand the basics of trading and the financial markets.

There is also the ECN Gravity promotion, which offers 3 months of trading with liquidity costs of just $10 per million to clients who deposit $1000 or more. The broker offers trading in forex, gold, silver and indices. TenkoFX offers MetaTrader 4 to cater to the diverse needs of its clients. By understanding the features and benefits of each platform, you can select the one that best aligns with your trading goals. All features and options are centralized in the trader’s user account.