10Trade FX is a fraudulent Forex broker that is designed to attract naive users to the new Internet scam. 10tradeFX is a trademark of Holiway Investments Ltd, a company authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). But there is no need to mention that Cyprus is well known for being an offshore country where many dubious companies are registered. Therefore, we do not recommend collaborating with 10TradeFx !!! Initially, the company provided trading in binary options via the 10Trade brand but changed focus to forex. It also had another forex brokerage brand Aura Capital which now seems out of business.
Reviews about Trade FX
This company has almost no reviews due to the fact that scammers usually delete information that they do not like. This is done intentionally so that the potential client could not find out the truth about 10 Trade FX. We still managed to find reviews about this broker of poor reputation.
10 Trade FX Official Website
The website of this company is designed in such a way in order to gain the trust of potential customers and inspire false reliability of the company. Nevertheless, there are several points that should concern the trader.
Information on the leadership of the broker 10 Trade FX is not available. Therefore, it’s not worth investing in this company as it conducts fraudulent activities.
According to the data on the website trading carries a high level of risk and can result in the loss of all of your investment. Therefore, we can conclude that the company does not give any guarantees and does not bear any responsibility in case of losses.
10tradeFX charges various extra fees which is quite unusual for a licensed broker. Apart from the dormant account and withdrawal fee ($30 processing) the broker also charges an annual fixed administration fee of €20 (twenty Euros) as well as a fee for incomplete application. The 10tradeFX website is not very informative about broker spreads. It has only specified a spread starting from 1.5 pips on EUR/USD which maybe refers to the VIP Account type. When we tested the broker’s MT4 in demo mode, we find the spreads on this pair higher than 3 pips.
Based on all the above, we do not recommend this broker. We assume that if you are reading this article, you are looking for reliable brokers – we have a list of trusted brokers for you. So, if you have faced the fraud, our team of lawyers is ready to help you return the money.