TenTrade review and ratings

Company information

TenTrade is a forex broker located in the Seychelles, regulated by the Seychelles Financial Services Authority (SFSA).

Availability

TenTrade accepts clients from all over the world, excluding USA and and some countries where restrictions apply.

Distinctive features

• The broker offers own funds for pro traders to manage (Funded Trader Program).
• Own Social Trading Network with monitoring and copy-trading capabilities.
• FX training school (TenTrade Academy).

Trading instruments

Forex broker offers the following underlying assets for trading.

Comprehensive review

Registered offshore in the Seychelles, TenTrade is a forex broker that offers trading with high leverage and relatively low spreads on a range of instruments. The broker is regulated locally by the Seychelles Financial Services Authority (SFSA), making it a safer choice than some other offshore forex brokers that are completely unregulated.

Noteworthy about TenTrade is that it allows traders from almost anywhere, with the usual exception of the US, to sign up as clients. This makes it a good opportunity for traders from places like the EU or Australia, where leverage is normally very limited, to trade with much higher leverage on a wide selection of assets.

Among the assets TenTrade offers for trading is more than 40 forex pairs, most major crypto pairs, popular stock indices, single stocks from around 60 US-listed companies, and a number of commodities.

As with most brokers we have reviewed here on FX-List, all of the assets offered by TenTrade are traded as contracts-for-difference (CFD). This is a common type of derivative that allows traders to take positions and profit as the price of the underlying asset moves, without actually owning the asset. It also makes it easy to make money both on the short and long side, often with high leverage that allows traders to make significant profits (or losses) with just a small trading account.

All of the assets offered by TenTrade are traded on the MetaTrader 5 (MT5) platform, available either as a web platform or a downloadable platform.

MT5 is one of the best-known platforms in the industry today, and is the successor of the extremely popular MT4 platform that basically introduced online forex trading to the masses. The platform boasts a huge selection of custom-made technical indicators and trading strategies, some of which are available for free and others that can be purchased within the platform.

Like many other forex brokers, TenTrade also facilitates so-called social trading where new traders can choose to automatically copy trades made by other more experienced traders. This is a fun way to get into forex trading for those without much experience, while it also opens opportunities for veteran traders to earn a side income by sharing their trades with other users.

Notably, TenTrade also has a funded trader program, which makes it possible for profitable traders to receive funding from the broker and trade for the broker’s account. Profits earned under the program are split 70/30 with the broker, and there is a registration fee ranging from $100 to $5,000 to join the program.

To reach TenTrade’s customer support, traders can send an email or use live chat via the website. Unfortunately, no phone number has been provided to this broker, and there is no information about the support team’s working hours available.

All in all, we see TenTrade as an interesting option for traders looking for access to a large selection of trading instruments with high leverage. It’s an added benefit that the broker offers the familiar MT5 platform, and we also like the social trading functionality that is offered. One thing that could improve, however, is customer service, and especially an option for phone support.