Lastly, the broker also offers a crypto account for traders who want to trade CFDs on cryptocurrencies like Bitcoin, Ethereum, and many others. Keep in mind, however, that crypto CFDs are not the same as actual cryptocurrencies. While the CFDs are an excellent way to speculate on the price moves of the underlying cryptocurrencies, they are not ideal for holding over the long-term, and cannot be spent like the underlying assets can. In addition, the broker offers more than 50 currency pairs for those interested in trading forex. TenkoFX is a global provider of CFD and forex trading services that is based out of Saint Kitts and Nevis, a traditional offshore jurisdiction in the Caribbean.
- TenkoFX provides their customers with dedicated customer support that’s available 24 hours a day, 5 days a week.
- Constant vigilance should be applied at all times when trying to invest in trading platforms.
- While the CFDs are an excellent way to speculate on the price moves of the underlying cryptocurrencies, they are not ideal for holding over the long-term, and cannot be spent like the underlying assets can.
- The final grade is given based on Tenkofx FX broker performance and features.
- As for the payment methods, you can choose between
Wire transfer, Credit/debit cards, UnionPay, QIWI, Perfect Money, FasaPay, Crypto, Litecoin, Ethereum, Crypto Cash, AdvCash and Tether (USDT).
TenkoFX accepts clients from all over the world, with the exception of the USA and some countries where restrictions apply. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. In order to start trading with TenkoFx, you have to deposit at least 10 USD (Trading accounts can also be held in USD, EUR, RUB, JPY, MBTC, LTC, ETH). Educational resources consist of a training academy that is sorted into beginner and expert levels, a glossary of trading terms that comes with a helpful search bar, and various articles. Granted, the academy section is simply typed information with some pictures, but the broker has put in an amount of effort to attempt to help educate their clients.
Nevertheless, most traders will be satisfied with their tradeable products offering. Aside from bank wire, which has a 24-hour processing time, all deposits are credited instantly. Note that some of the funding methods are not available for all countries and there are a few significant deposit minimums on certain methods.
📵 What deposit and withdrawal methods TenkoFx supports?
All funds deposited into your trading account must be in your TenkoFX trading account’s name. This causes the potential client or user to be tenkofx review perplexed and hesitant. It is much better if the broker had offered a step-by-step tutorial on how to complete the account opening process.
- Note that some of the funding methods are not available for all countries and there are a few significant deposit minimums on certain methods.
- The broker gets a lot of excellent feedback, with people complimenting the withdrawal process, advantageous trading terms, and so on.
- Available for Desktop and Mobile platforms, this superior trading platform is confirmed to be one of the most reliable, fastest and feature-rich.
- The broker allows more than one account to be opened, so a trader could open a Crypto account in addition to one of the other accounts to access more instruments.
- TenkoFX charges wholesale ECN fees, with commissions starting at $10 per million or $1 per standard lot if trading significant volumes, or $4 per standard lot otherwise.
The owning company of TenkoFX used to be named TenkoFX Ltd then TenkoFX Limited, while their latest name is Tenko Systems Limited. Regardless of all the renaming, the company is the same fraudulent entity from the start. TenkoFX accepts clients from all over the world, excluding USA and some countries where restrictions apply. On the other hand, the broker’s management does not work on topical forums, which would reduce negative comments. Let’s hope that the broker considers correcting all of these flaws in the near future and that active work with user feedback begins. This website is using a security service to protect itself from online attacks.
TenkoFX Review- Customer Support
Constant vigilance should be applied at all times when trying to invest in trading platforms. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided. Certainly a way to earn the trust of your customers is by enabling mobile trading. For their exceptionally busy or active clients, TenkoFX provides MT4 for iPhone and Android users.
Withdrawal requests are processed the same day or the next business day if made outside of office hours. It takes time to withdraw money based on the payment provider and method used. Some methods, like bank transfers, may take a few days to clear, while others are fast.
TenkoFX offers many features that are usually found only with large and regulated brokerage companies, despite the fact that it is unregulated and based offshore. The advantages of this broker include high leverage, a large selection of cryptocurrencies for trading, the availability of its own PAMM service and the ability to replenish the account using cryptocurrencies. In addition, TenkoFX provides a PAMM service that allows traders to earn on commissions, even without having a lot of capital, and investors without Forex trading experience.
Trading Platforms
The company is located at Corner of Jews Street & Marion Avenue, Ramsbury Site, Charlestown, Nevis. Although the site claims the customer support office is available 24/5, we were reluctant to believe such shallow statements without a way to confirm them. Besides, unscrupulous brokerage websites are known to be far less diligent when it comes to responding to help tickets and tending to clients’ needs with diligence. Once again, we have to remind you that offshore brokers without licenses make their offers especially shiny and nice because they aren’t such in reality. Each TenkoFX account is promised to bring some unique features, like floating spreads from 0 pips, unlimited number of trades, transactions and possibility of opening Demo and Islamic versions of accounts. Furthermore, the broker returns a part of the funds to its new customers within the first three months of trading.
Q1 What is the TenkoFX account minimum deposit?
Overnight interest charges also apply, unless one is trading from an Islamic account, which is available in STP and ECN versions. Swap rates can be viewed on the website under “Contract Specifications”. 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. MetaTrader 4 is undoubtedly the most popular retail trading platform, chosen by Forex traders all over the world. TenkoFX is a brokerage firm with offices in Belize and the Russian Federation that has been providing trading services to clients since 2011. During the course of 90 days, the following items appear on a trading account.
Legit Once Upon a Time
ECN and Crypto accounts also accept deposits in MBTC, LTC, and ETH. Equity of $10K to $50K or more, plus a trading volume of 50,000,000 equals the lowest $10 charge. Equity of less than $1K with less than 5,000,000 trading volume results in the largest $40 fee.
What is the minimum deposit in TenkoFX?
In general,
TenkoFX provides trading service in
Forex , Gold & silver , CFD and Crypto . As for the payment methods, you can choose between
Wire transfer, Credit/debit cards, UnionPay, QIWI, Perfect Money, FasaPay, Crypto, Litecoin, Ethereum, Crypto Cash, AdvCash and Tether (USDT). The customer support is available via
Email, Web form, Phone, Callback, Live chat, Forum, Office and Skype. TenkoFX is a forex broker that offers ECN, STP, and Cryptocurrency accounts for forex and CFD trading.
By offering you conditions necessary for a long-term beneficial cooperation, we help you turn your performance on financial markets into a stable and profitable business. I was “lucky” to work with these bustards… they wrecked my nerves. TenkoFX is an illicit brokerage website previously licensed but now blacklisted by the same authority – FSC (Belize). Unfortunately, little do the rookie traders know that their investments will be quickly stolen.
