Investing time in research before trying to invest on a suspicious broker can save you from potential losses and unnecessary stress. Trading accounts in TenkoFX can be replenished either by bank transfer, or standard debit and credit cards (Visa, MasterCard and China UnionPay), as well as electronic wallets FasaPay, AdvCash, Perfect Money, QIWI. In addition, this broker accepts cryptocurrency deposits in BTC, ETH, LTC, BCH and USDT.
Do not forget that even the most cautious investors can fall victim to online fraud. Constant vigilance should be applied at all times when trying to invest in trading platforms. There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. A little bit of preliminary research can go a long way in protecting you and your finances. Before choosing a broker, we recommend that you read the reviews of TenkoFX, as well as see our rating of Forex brokers.
How was the rating of Tenkofx performed compared to other brokers?
This 2023 Forex Broker Review has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Tenkofx FX broker performance and features. In addition, the broker offers more than 50 currency pairs for those who want to trade on Forex. Unfortunately, TenkoFx is not a trustworthy company to deal with, as they are not registered or regulated by any major regulatory authority, such as the Financial Conduct Authority (FCA). Relying on a reputable service like MyChargeBack is crucial when dealing with online scams, as the typical chargeback process can often be complicated and time-consuming without the proper guidance.
- 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.
- In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction.
- This 2023 Forex Broker Review has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers.
Therefore, this broker may not be the most suitable choice for traders interested in trading on the stock market. We use dedicated people and clever technology to safeguard our platform. Since the process of filing a chargeback case can be relatively complex and time-consuming, we recommend seeking assistance from our partner, MyChargeBack, by completing the form provided on top of the 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.
Many fraudulent firms will even claim to be domiciled in a regulated jurisdiction, and display fake regulatory licenses and addresses on their websites to try and improve their credibility with unsuspecting investors. One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘easy money’. Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns.
More info about trading scams:
Reading reviews from other traders who have experienced TenkoFx firsthand is crucial in determining the broker’s reliability. These reviews offer insights into the platform’s functionality, customer service, and overall trading experience, allowing potential investors to make informed decisions. When researching an online broker, the first and most important step should always be to find out if they have a regulatory license from a financial institution. This will tell you whether they are regulated by a central authority or if you are dealing with an offshore and/or unregulated investment company. Overall our online Tenkofx review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online Tenkofx or you find inaccurate details Tenkofx broker review please get in touch with us and the changes will be applied.
This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. 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. At the time of writing the review, the broker offers investments from $ 500 to $ 1,500 to managing traders with an active trading history on myfxbook.com over 6 months and a maximum drawdown of no more than 30%.
What is the minimum deposit in TenkoFX?
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. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. First and foremost, report the incident to your local authority department.
Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too. When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse in the event that your funds are compromised. In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction. It is essential to exercise caution and conduct deep research before engaging with any online trading platform, including TenkoFx. The first step to protecting yourself from fraudulent parties online is to do thorough due diligence on the companies and entities that you are planning to send the funds to. In all probability, there have been other traders who have already used the same service, and have expressed their opinions and feedback online on various forums.
TenkoFX
Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. 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%.
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. Through these five straightforward steps, MyChargeBack simplifies the fund recovery process, enabling you to reclaim your money from TenkoFx with minimal inconvenience. Follow our straightforward guide to efficiently reclaim your lost funds from TenkoFx with minimal hassle. MetaTrader 4 is undoubtedly the most popular retail trading platform, chosen by Forex traders all over the world.
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The company is located at Corner of Jews Street & Marion Avenue, Ramsbury Site, Charlestown, Nevis. TenkoFX regularly holds contests with real cash prizes, offers a loyalty program with a return of the spread for novice traders and discounts on commission when replenishing an ECN account from $ 1000. TenkoFX is a global CFD and Forex service provider based in Saint Kitts and Nevis, a traditional offshore jurisdiction in the Caribbean.
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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. The risks involved in using unregulated companies like TenkoFx include the inability to file a complaint with a credible regulatory authority in case of a dispute.
