10Brokers Forex Broker

10brokers Forex Broker - Complete Information Guide

1. Broker Overview

　　10Brokers, established in 2018, operates under the full name Euro Wealth OÜ. The company claims to be headquartered in Tallinn, Estonia, although it has faced scrutiny regarding its regulatory status. It is a private entity, not listed on any stock exchange, and primarily serves retail traders looking to engage in Forex and CFD trading.

　　The broker offers a range of services targeting individual traders and has made attempts to expand its market presence. However, its development has been marred by regulatory concerns and negative reviews. The company has undergone several name changes and has been linked to multiple entities, which adds to the confusion surrounding its operations.

　　10Brokers operates as a Forex and CFD broker, providing access to various financial instruments, including commodities, indices, and cryptocurrencies. However, the lack of a solid regulatory framework raises questions about the safety of trading with this broker.

2. Regulatory and Compliance Information

　　10Brokers is not regulated by any reputable financial authority. Although it claims to be registered in Estonia, it has not been recognized by the Estonian Financial Supervision Authority (EFSA). According to multiple sources, including the EFSA, Euro Wealth OÜ does not hold an activity license for providing investment services in Estonia.

　　The broker has been associated with several names, including All Protech OÜ and Nostro Technology OÜ, both of which have been blacklisted. Furthermore, FGM Technology Ltd., which operates under the name 10Brokers, has been blacklisted by the UK's Financial Conduct Authority (FCA) due to unauthorized activities.

　　Given this lack of regulation, 10Brokers does not provide client fund segregation or membership in any investor compensation schemes, making it a risky choice for potential investors. The absence of Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures further exacerbates the risks associated with this broker.

3. Trading Products and Services

　　10Brokers offers a diverse range of trading products, including:

• Forex Currency Pairs: The broker provides access to several major and minor currency pairs, although the exact number is not specified.
• CFD Products: This includes trading on indices, commodities, stocks, and cryptocurrencies, catering to a wide range of trading preferences.
• Unique Offerings: While there are no specific unique products highlighted, the broker's inclusion of cryptocurrencies suggests an attempt to attract a modern trading demographic.

　　The frequency of product updates and the addition of new trading instruments remain unclear, as the broker's website lacks transparency regarding its product offerings.

　　10Brokers primarily focuses on retail trading services, but there is no mention of institutional client services or white-label solutions in the available information. Asset management services are also not indicated.

4. Trading Platforms and Technology

　　10Brokers supports the well-known MetaTrader 4 (MT4) trading platform, which is favored for its robust charting capabilities and user-friendly interface. The platform is accessible via desktop and mobile applications, making it convenient for traders on the go.

　　The broker does not appear to offer a proprietary trading platform, which may limit its appeal to traders looking for unique features. The execution model is not clearly defined, and there are no specific mentions of ECN, STP, or market-making execution methods.

　　The technology infrastructure, including server locations and API access for automated trading, remains undisclosed. This lack of information raises concerns about the broker's technological capabilities and reliability.

5. Account Types and Trading Conditions

　　10Brokers offers a standard account type with the following trading conditions:

• Minimum Deposit: Reports indicate a minimum deposit requirement of $50, although some sources suggest $500.
• Spreads: The broker offers fixed spreads starting from 3 pips, which is considered relatively high compared to industry standards.
• Commission Structure: There is no clear information regarding commissions, suggesting that the broker may rely solely on spreads for revenue.
• Leverage: The maximum leverage provided is 1:400, which can be attractive to traders looking for higher risk and potential returns.
• Minimum Trade Size: Specific details on the minimum trade size are not available.
• Overnight Fees: Information regarding overnight fees is not provided.

　　The absence of advanced account types such as VIP or Islamic accounts, as well as a simulated trading account for practice, limits the options available to potential clients.

6. Fund Management

　　10Brokers supports several deposit methods, including bank transfers and credit cards. However, the exact payment methods available, such as e-wallets, are not clearly specified.

• Minimum Deposit Requirements: The minimum deposit varies, with reports indicating $50 or $500.
• Deposit Processing Time: The processing time for deposits is not mentioned, leading to uncertainty about how quickly funds become available for trading.
• Deposit Fees: There is no information regarding any fees associated with deposits.
• Withdrawal Methods: The broker allows withdrawals via credit card and bank transfer, but specifics regarding withdrawal limits and processing times are unclear.
• Withdrawal Processing Time: The broker claims that withdrawals may take 3 to 5 business days, but this is not explicitly confirmed.
• Withdrawal Fees: Information on withdrawal fees is not available.

　　The lack of clarity surrounding fund management practices raises concerns about the broker's transparency and reliability.

7. Customer Support and Educational Resources

　　10Brokers offers several customer support channels, including:

• Support Channels: Email and telephone support are available, but there is no mention of live chat or social media support.
• Service Hours: The specific service hours and time zone coverage are not detailed.
• Multilingual Support: It is unclear if the broker provides support in multiple languages, which could limit accessibility for non-English speaking clients.
• Educational Resources: The broker does not appear to offer substantial educational resources such as webinars, tutorials, or eBooks.
• Market Analysis Services: Information regarding daily market analysis and research reports is not provided.
• Trading Tools: There is no mention of trading tools such as calculators, calendars, or signal services.

　　The lack of comprehensive educational resources and support options may hinder traders, particularly those who are new to the market.

8. Regional Coverage and Restrictions

　　10Brokers primarily targets the European market, claiming to operate from Estonia and the Marshall Islands. However, the specific regional distribution of its offices is not disclosed.

• Main Service Markets: The broker seems to focus on European clients, but there is no detailed information on its market reach.
• Regional Offices: The presence of regional offices is not specified, limiting the broker's perceived credibility.
• Countries Not Accepted: Specific countries or regions where clients are not accepted are not mentioned, which may pose risks for potential investors.
• Special Restrictions: There are no detailed restrictions outlined, but the lack of regulation may inherently limit the broker's operations in certain jurisdictions.

　　In conclusion, while 10Brokers presents itself as a Forex and CFD trading platform, significant concerns regarding its regulatory status, product offerings, and overall transparency raise red flags for potential investors. Caution is advised when considering engagement with this broker.