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10Brokers entertains just one account type and it is a CFD broker based on the highly credible MetaTreder4 software. MT4 is popular for its exceptional video streaming, charting, updates and the presentation of the statistics in an efficient manner…
The best thing about MT4 is that it doesn’t require high-end hardware. Moreover, the provision of the MQL marketplace has convinced thousands of brokers. If you have some programming skills, MT4 allows you to create an automated trading system with customized indicators. Is 10Brokers as good as the platform which it is based on? If so, it could be an excellent choice for the traders.
In this review, we’ll have an overview of the background of this broker, the company operating this platform, the legal status, and 10Brokers scam complaints if any. It will give you a clear idea of how credible this broker is so that you can rate it on a scale of 10 or 100.
When looking into potential scam binary options brokers we always conduct thorough research & as a result our reviews can get quite lengthy, so to make things easier for you we’ve put together some quick navigation links below. You can use the links to jump straight to the specific information that you came here looking for.
- 10Brokers Background
- Is 10Brokers Regulated?
- 10Brokers Complaints
- 10Brokers Withdrawal
- Is 10Brokers a Scam?
- Our Verdict on 10Brokers
- Get Your Money Back From 10Brokers
- A Better Way To Make Good Money Online
KHO TECH Ltd. operates 10Brokers and the good news is that this company is regulated under Saint Vincent and The Grenadines regulatory authorities. We’ll have a closer look at this credibility of its regulator.
In addition to 10Brokers, KHO TECH Ltd. is also operating MRT Markets.
The following is the contact information available on www.10bokers.com
- Phone: +442 0312 94988
- Email: support@10Brokers.com
- Address: Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-K006, 10119.
Is 10Brokers Regulated?
KHO TECH Ltd. was initially registered with the Financial Services Provider Commission (FSPC) that is mostly preferred by offshore companies to show some level of credibility. But you need to be careful because if you lose anything while trading with through this broker, FSPC will be able to do the least for you. You can’t even think of recovering your funds because FSPC has no legal authority to oversee any of the companies it regulates. This is just a type of registration that is better than being unregulated. You may call it a cover, nothing more.
Upon further investigation, we came to know that 10Brokers have already lost its FSPC license for some reason, it either expired or the broker sought for an alternative.
At the moment, 10Brokers is registered with PIPSEC (License # 53487), another private regulatory authority with no power to exercise in case if a company doesn’t comply with the regulations. It can’t do anything more than canceling the license. It doesn’t serve the purpose because you need your money back if a company fools you, cancellation of the license doesn’t mean anything because if a broker is a scam artist, it simply disappears.
If you visit the Regulation section of the website, you’ll notice that the first line talks about its acquisition of the PIPSEC license that follows by a general information about how to secure an FPS regulated broker is. This is surprising. The content is beating about the bush, it is praising something which the broker doesn’t actually possess. There should have been something about POPSEC regulations. But instead, there is something that seems to have come/copied/rephrased from another website. It really fails to convince!
We are not convinced because MRT markets (also operated by KHO TECH) bears a negative reputation. Most of the complaints refer to the fraudulent manipulation of the withdrawal policy just to hold the trader’s money.
People are complaining against 10Brokers but most of those complaints are more than fabrication. We can’t entertain such complaints which don’t offer an evidence. They are a baseless narration of something that didn’t happen. A genuine complaint is recognized by its tone, detail, email thread, or any other evidence. At the moment, we don’t have anything significant to mention in this section. It is either because the platform is new or the broker is performing exceptionally well.
10Brokers offers Credit Card and Wire Transfer as the mode of withdrawal. The website accepts Visa and MasterCard. The website promises an instant transaction over Credit Card and requires from 3 to 5 working days for the withdrawal via wire transfer.
You need to present the documents for identity verification before submitting a withdrawal request. The website doesn’t say anything about the minimum withdrawal.
Is 10Brokers a Scam?
It is too early to make a conclusive call. 10Brokers scam complaints are not reliable as they are intentionally fabricated and biased. Time can tell what the reality is. We didn’t find a warning from any regulatory authority. All we know is that the website is functional, the platform is NOT regulated by a reliable authority, and the owner is also running another platform with a bad reputation.
Our Verdict on 10Brokers
No, we DON’T recommend 10Brokers, at least at the stage. We must wait and see how it performs over the next few months. We’d like to see it acquiring a license from a reliable regulatory authority. Everything about this brokers is good except one major weakness that restricts us from recommending this platform.
Get Your Money Back From 10Brokers
Have you been scammed by 10Brokers? Even though at the moment we are undecided on this platform within this review, we wouldn’t be surprised if that was the case as we have already exposed many scam brokers like TorOption & IQ Option.
Thankfully though if you have been scammed by 10Brokers then you have landed in the right place as we have put together a free money reclaim guide which shows you how you can get your money back.
To date the guide has helped thousands of people & we know it can also help you as well. The steps are proven to work & we have made it as easy as possible to follow so we highly recommend you check it out if you have lost money to 10Brokers.
A Better Way To Make Good Money Online
The truth is that even with legitimate brokers, binary options trading sucks. We at Stopping Scammers have never ever seen anyone manage to generate sustainable profits from binary options trading & for that reason we do not recommend it at all.
So what do we recommend?
Well we have come across many legitimate opportunities whilst carrying out our investigations but there is one in particular which has stood out from all of the rest. We have crowned it our number 1 recommendation.
You can get access to our number 1 recommendation by clicking the link below: