For over 10 years we consider our independence, absolute openness, and objectivity as our main priority. Please follow the links to each of our affiliated broker’s websites. This will help Tradersunion.com to continue to provide our services to you for free. Some brokers focus on specific instruments, such as currency pairs or cryptocurrencies. tenkofx Some only deal with contracts for difference (CFDs), and are known as CFD brokers.
Crypto Trading Account
TenkoFX received a Medium score for the efficiency and convenience of its deposit and withdrawal processes. We use dedicated people and clever technology to safeguard our platform. Claim your profile to access Trustpilot’s free business tools and connect with customers.
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If a trader focuses on currency pairs and is not interested in cryptocurrencies, it makes sense to select either an STP or ECN account. Crypto accounts are designed for those primarily working with digital assets. The difference between STP and ECN accounts, apart from the available instruments, lies in the trading fees. The first one only has spreads, while the second has raw spreads and commissions. Since the commission is average in the market and the broker’s spreads are generally tight, both account types are economically equivalent.
ECN FEES AT WHOLESALE COSTS.20 USD/mio or 1 USD per
Typical values are provided, but during high volatility, the spread may exceed these. Traders operate through the MetaTrader 4 trading platform, recognized by experts as the most user-friendly and functional. An alternative platform, TickTrader, is also highly customizable. Each account caters to traders with specific preferences, and both STP and ECN accounts can be converted into swap-free Islamic accounts. TenkoFX has a safety score of 2.5/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Three account types, over a hundred financial instruments, and high leverage provide outstanding profit potential.
- Additionally, different instrument types create a diversified portfolio, where a negative trend with one asset can be offset by stable and progressing positions in others.
- This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.
- Some only deal with contracts for difference (CFDs), and are known as CFD brokers.
Markets and tradable assets
All the services on the Tradersunion.com website are free for you to use. Indeed, the curating, sourcing, and organization of this process requires substantial financial investment by Tradersunion.com, which the website earns in the form of advertising payments. There are two types of advertising services on the website — direct advertising or partner (broker) participation programs. However, no services purchased by our partners shall affect the recommendations on our website, or our opinions, or ratings. Our ratings are based on our objective rating criteria and methodology; and the results are always equally and fairly applied to each broker. The work of our content authors and research groups does not involve any interaction with our advertisers and they do not have access to data concerning the amount of advertising purchased.
We have compared the range of assets and markets supported by TenkoFX with its competitors, making it easier for you to find the perfect fit. TenkoFX provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum. Verification can help ensure real people are writing the reviews you read on Trustpilot. Companies on Trustpilot can’t offer incentives or pay to hide any reviews.
TenkoFX uses SSL authentication and automatically enables SMS verification for TenkoDESK. According to the broker’s statement, its compensation and investors’ funds are kept separately from the company’s operating capital. Like many brokers, TenkoFX assumes that its clients are already familiar with financial markets and know how to trade at least at a basic level. In other words, the professional development of TenkoFX clients is up to them. In the main section, select “Open Account”, then in the context menu, choose the account type. Specify the account currency and the desired leverage, and enter a referral code if you have one.
The platform supports 88 assets in total, including 70 Forex pairs. The account choice does not determine the priority of technical support, execution speed, or the spread type because it is always floating, not fixed. In other words, the overall trading conditions are always equally advantageous.
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. To start collaborating with the broker, you need to create a user account on their official website. The account allows you to verify your account, open a real account, and make a deposit. Below, TU outlines the registration process step by step and discusses the features of the TenkoFX user account. We also explored the trading assets and products TenkoFX offers for beginner traders and investors who prefer not to engage in active trading. For Standard accounts, TenkoFX’s commissions are part of the floating spread, which varies with market conditions.
TenkoFX is a comfortable broker with an extensive asset pool
Users operate through top solutions such as the MetaTrader 4 and TickTrader trading platforms, which are simple, functional, and adaptive. Cryptocurrencies receive significant attention, providing access to markets and the ability to store digital assets in the user account and work with different crypto wallets. Unfortunately, there are questions regarding the company’s regulation, despite its presence in the market for over 10 years.
Our Evaluation of TenkoFX
- Trading in futures and options carries substantial risk of loss and is not suitable for every investor.
- That’s why TenkoFX has placed special emphasis on customer service since its inception.
- Unfortunately, there are questions regarding the company’s regulation, despite its presence in the market for over 10 years.
- Cryptocurrencies receive significant attention, providing access to markets and the ability to store digital assets in the user account and work with different crypto wallets.
- By this, TU means reading specialized literature, attending relevant webinars, and studying analytical materials prepared by experts.
An important consideration is that leverage differs across account types. Therefore, traders should choose based on their preferred trading style, priority of instruments, and preferred strategies. That is why you should only invest money that you are prepared — or can afford — to lose at such high risks. Tradersunion.com does not provide any financial services, including investment or financial advisory services.
The broker has a low entry deposit of $10 and reasonable trading fees, with commissions up to $4 per lot and spreads starting from 0 pips. Technical support is critically important for any broker because traders often encounter situations where they require expert assistance. If a user does not receive prompt and high-quality support, they may become disappointed with the platform and switch to a competitor. That’s why TenkoFX has placed special emphasis on customer service since its inception.
Forex & CFD with
After that, you will receive a download link for the trading platform and all the necessary login details. TenkoFX is a moderate-risk broker with the TU Overall Score of 5.18 out of 10. TenkoFX offers to get acquainted with the commissions for different types of accounts. Information on the TradersUnion.com website is for informational purposes only and does not constitute any motive or suggestion to visitors to invest money.
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