TenTrade is a contract for difference (CFD) broker founded in 2021 in Seychelles, with its headquarters located on Mahe Island. It primarily offers CFD trading services for forex, indices, commodities, and stocks. The broker's official website is https://tentrade.com/, and it supports languages such as English, Traditional Chinese, Arabic, and Indonesian.
Company Background:
TenTrade is a CFD broker established in Seychelles in 2021, operating under the entity Evalanch Ltd, with its office address at CT House, Office No. 9A, Providence, Mahe, Seychelles. The trading software services of the broker are provided by its affiliated company, TenTrade Ltd. According to Whois data, TenTrade's official website domain was registered on November 3, 2016.
Regulatory Information:
TenTrade is regulated by the Financial Services Authority (FSA) of Seychelles, and this regulation is consistent with the information displayed on the FSA's official website. However, it's worth noting that the regulatory oversight by this authority is relatively weak, offering limited protection to investors.
Trading Products:
TenTrade provides various financial instruments for user trading, including:
Forex: It offers opportunities to trade various currency pairs in the forex market. Forex CFDs allow investors to trade based on price fluctuations between one currency and another. Examples of available currency pairs include EUR/USD, GBP/USD, and USD/JPY.
Stocks: Traders can engage in CFD trading of stocks from different companies, including well-known companies like Apple, Microsoft, and Amazon. This allows investors to participate in the market without owning the actual stocks.
Commodities: Commodities CFDs enable investors to profit from price fluctuations in raw materials and resources. Commodities include crude oil, copper, and iron ore, among others. Commodities CFDs allow investors to participate in various commodity markets without owning the physical assets.
Indices: Index CFDs enable investors to trade based on the price performance of market indices without buying or selling individual index component stocks or assets.
These products provide opportunities for investors to access different financial markets and manage risk through diversified portfolios.
Account Registration:
TenTrade's official website provides an account registration link, but it doesn't distinguish between registering a live trading account or a demo account. The registration process is as follows:
Visit the TenTrade official website and click on "Register" in the top right corner.
Fill in the required information such as name, phone number, email, password, etc., as per the instructions on the website to complete the account registration.
Account Types:
TenTrade offers three account types, which are:
- PRO Account
- ECN Account
- BONUS Account
Except for the ECN account, other account types may involve commission fees. Users can choose the account type that aligns with their trading needs.
Spreads and Leverage:
All three account types offered by TenTrade have a leverage of 1:500. Spreads and minimum deposits vary depending on the account type. For example, the PRO account has spreads starting from 1.2 pips and a minimum deposit of $100, while the ECN account has spreads starting from 0 pips and a minimum deposit of $300. The BONUS account has spreads starting from 1.8 pips and a minimum deposit of $50. Investors engaging in high-leverage forex trading should undergo proper education, understand market mechanisms, and carefully consider their investment goals and risk tolerance.
Deposits and Withdrawals:
TenTrade supports multiple deposit and withdrawal methods, including NETELLER, Skrill, VISA, digital assets, and more. Investors can choose the method that suits their preferences.
Trading Platform:
TenTrade provides investors with the Metatrader 5 (MT5) trading platform. MT5 is widely recognized and popular in the financial industry, known for its advanced trading features and a variety of analysis tools. Through MT5, investors can access real-time market data and utilize various technical indicators and charting features for market analysis.
Customer Support:
TenTrade claims to offer customer support 24 hours a day, five days a week. Investors can contact them through live chat, phone, email, and social media platforms such as Facebook, LinkedIn, and Twitter. However, the broker has not disclosed phone contact information.
Summary:
TenTrade offers users opportunities to trade various financial products and is regulated by the Financial Services Authority (FSA) of Seychelles. However, the broker provides a high leverage ratio, and investors should undergo proper education, understand market mechanisms, and carefully consider their investment goals and risk tolerance when choosing its services. Currently, the broker is marked as "operating normally" on TraderKnows.
