10Markets Broker Review – Forex and CFD Trading in South Africa

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10Markets Broker Review

Financial markets are constantly changing and new opportunities are there for those who pay attention and keep an open mind.

For South Africans who are looking to diversify their trading 10Markets broker offering Forex and CFD trading could be an interesting prospect.

In our 10Markets broker review, we also found another advantage which is presented in the chance to even experience binary trading using a popular trading software Binary Options Robot.

We spotted the interesting potential and are presenting our 10Market broker review.

Here South African traders can find essential info necessary to start trading with this broker.

10Markets General Info – South Africa

The first benefit of opting to use 10Markets broker is that they have obtained a regulation. While it is not fair to claim that all unregulated brokers are scam, we do advise traders to select regulated brokers.

In terms of minimum deposit, South Africans will have to spend $250. The minimum amount for a single trade is set at $10 and possible returns go as high as 83%.

This free advanced robot offers South Africans over 50 underlying assets as well as a superb VIP account.

Further in our 10Markets broker review, South Africans can find out more on trading a variety of underlying assets like stocks, currencies, commodities and indices as well as CFD trading.

10Markets Trading Platform and Features

Further in our 10Markets broker review, we took a closer look at their trading platform.

We found they use the acclaimed and popular MetaTrader 4 or MT4 which offers a variety of advanced indicators, charts and trading tools.

This trading software allows South Africans who are eager to join the ranks of Forex and CFD traders modern, innovative and effective trading experience.

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In a true fashion of modern broker, 10Markets provides three MT4 forms for trading which include the standard desktop version, popular mobile version and web-based version.

Advanced technological age of the 21st century knows no limits so 10Markets provides busy South Africans with an effective mobile trading app.

The mobile trading app is in high demand as they allow traders to save time and trade without actually interrupting their daily activities. Traders can trade on the go and use even short time intervals to place trades.

The most important this with using the mobile app is a stable internet connection.

Via mobile app traders can also keep an eye on the financial market and any changes which occur and could have an impact on their trading decisions.

Another fantastic benefit for South Africans which we discovered in our 10Markets broker review is the opportunity to use the demo account.

Clever traders will seize this great opportunity as it allows them to experience what it feels like to experience the trading process but with one notable difference.

The fund on the demo account are virtual and not real which neatly translates to – no risk for South African traders. The demo account is the perfect training area before traders start trading on the real account.

With 10Markets demo account, traders can experience trading conditions which they can expect to find in real trading.

In our 10Markets broker review, we also discovered that traders can use additional trading features. One such feature is the Mirror Trading which presents a distinct set of features allowing traders to follow trades made by other registered traders and further improve their performance.

With 10Markets, South African traders have a trading platform available in English and German.

10 Markets Account Types

Another treat for South Africans looking to trade CFDs and Forex is in the selection of trading account types they can experience with 10Markets.

In the course of our research for 10market broker review, we can confirm that traders have the amazing selection of five different account types.

10Markets Bronze Account Type

  • Minimum deposit of $250+
  • CFD and Forex trading
  • eMail research and Daily market overview included
  • @Go_For_Goldman bidaily webinar access

10Markets Silver Account

  • Minimum deposit of $2,500+
  • CFD and Forex trading
  • eMail research and Daily Market overview
  • 2-week Portfolio manager assistance
  • 1-month access via Trading Central to Signals-On-Demand
  • @Go_For_Goldman bidaily webinar

10Markets Gold Account

  • Minimum deposit of $5,000+
  • Forex and CFD trading
  • 1 month of one-on-one trading sessions
  • Portfolio Manager assistance
  • Daily market overview + research by eMail
  • Signals-On-Demand via Trading Central
  • Bidaily webinar by @Go_For_Goldman

10Markets Premium Account

  • Minimum deposit $10,000+
  • CFD and Forex trading + Daily Market overview
  • Portfolio Manager assistance
  • Trading Central Signals-On-Demand access
  • 2-month of one on one trading sessions with an expert
  • Expedited withdrawals
  • Usage of Forex trading algorithms – Tradency
  • Access to Sessions with Jay Goldman (10Markets chief analyst)

10Markets Platinum Account

  • Minimum deposit $25,000+
  • CFD & Forex trading
  • Premium Signals via Trading Central
  • 1-week live trading sessions with an expert (one on one)
  • Expedited withdrawals
  • Forex trading algorithms – Tradency
  • Sessions with 10Markets chief analyst Jay Goldman
  • Spread discounts and variable Forex spreads
  • Live trading sessions with an expert

10Markets Customer Support

Professional, responsive and quality customer support is a must for a serious broker.

In our 10Markets broker review, we were able to confirm all those qualities.

Their customer support is also available via several channels which include the live chat, web form, several phone number and email [email protected]

South Africans who want to use the phone number they can do so at +27 510 110 31.

10Markets support service is available 24/7.

Further proving they wish to be as helpful to their registered traders, 10Markets have prepared a fantastic array of educational materials available on the platform.

In their Learn tab, all interested South African traders can find a truly comprehensive collection of useful materials which include Industry News, Webinar Lessons, FAQs, Trading Manual, Video Center and Trading Central.

10Markets Banking Info

Security plays and the important part when it comes to any form of financial trading and 10Markets broker is very much aware of that.

According to information available on their site, they keep traders’ funds in segregated accounts and all the exchanged info between traders and the platform is SSL encrypted and processed via PCI compliant servers.

Payment methods South Africans have on disposal for making deposits and withdrawals include the standard wire transfer, credit cards and e-wallets like WebMoney, iDeal and Yandex.Money.

It generally takes between 2 to 5 business days for 10Markets to process withdrawal requests.

In our 10Markets broker review, we found no info concerning any withdrawal fees which is another advantage for all South Africans interested in trading with this broker.

Since this is a regulated broker, they comply with the KYC policy which is used to provide further protection against money laundering, identity theft and fraud.

This also means that traders need to submit documents like copy of the photo ID, a copy of the credit card used to make the make the deposit and proof of address.

10Markets Broker Review 2020

On global financial market, 10Markets presents itself as a forex and CFD broker to many traders, including those residing in South Africa.

What 10Markets broker delivers to South African traders is a selection of live trading webinars, tutorials and a long list of underlying assets to choose from.

In this 10Markets broker review, traders will get detailed information about how to trade CFDs and which assets are on traders’ disposal to become a successful trader in the industry.

Continue reading 10Markets broker review to learn more about available platforms and trading features.

10Markets South Africa

South African traders would be glad to know how this broker is regulated and obtains license by the Vanuatu Financial Services Commission (licence no. 14692).

To begin trading with 10Markets, minimum required deposit is $250, while investment starts from $10. Highest return which could be reached goes up to 83%.

Unlike regular binary options brokers, 10Markets offers a whole new segment of online investment with many new and different trading features and techniques. More details will be provided further in our 10Markets broker review.

On 10Markets platform traders will be able to trade with a variety of CFDs, currencies, stocks, commodities and indices.

What we learnt from 10Markets broker review is that they provide customer support 24/7, which is very important to all South African interested traders.

Another surprise comes is a form of option to experience binary automated trading. This is possible since 10Markets broker is connected with Binary Options Robot; global auto trading system for investing in a variety of underlying assets.

Is 10Markets a Scam?

According to our 10Markets broker review, we haven’t came across any scam alerts by checking the platform. They provide detailed explanation of terms and conditions, which is relevant in this type of online trading industry.

Also, to be able to join 10Markets broker, traders first need to send them several verification documents that should determine traders’ identity. These documents include copy of ID card and proof of residence. This comes as one of the indicators on non-existent 10Markets scam.

Under Legal tab, South African traders can know more thorough information about what to expect from 10Markets broker, such as KYC policy, Privacy policy, Anti Money Laundering and Terms of Use.

10Markets Platform and Trading Features

This broker operates on MetaTrader 4 software (MT4), an award-winning trading platform recognized around the world.

MT4 is packed with numerous charts, advanced trading tools and indicators. That is one of the main reasons why CFD and forex traders have opportunity to trade on 10Markets platform and experience a modern a simple way of trading.

This 10Markets MT4 platform comes in three forms; web-based, desktop and mobile version of the trading platform. All these platforms are sync in 10Markets trading/dealing room.

With 10Markets broker, South African traders are able to try out and learn from a variety of trading guides and tutorials and go few steps further to become a professional trader and not only a beginner.

Mobile app is one of the common and widespread tools for registered traders. This app enables South Africans to trade from anywhere and don’t rely only on web-based platform but also mobile version. 10Markets mobile app is excellent choice for those traders who are on the go and want to have access to the platform from any place and any time.

Traders novice on the other hand have option to test the platform and try out different techniques at no risk. This can be easily done in 10Markets demo account. It is an amazing and useful trading features that can modify traders from being beginners to become a professional trader.

Demo version also displays different assets and tools which could be used in the trading process. The major difference relies in a fact there is no real money involved but instead South Africans can place trades with virtual money.

All 10Markets tools are designed to make the trading more simple and to assist traders in reaching their goals. That is why this broker offers plenty more trading instruments, such as Mirror Trading; a unique set of features that help traders into having more trading confidence by following trades of other involved traders.

10 Markets Account Types

Our 10Markets broker review showed us how traders are able to choose between 5 different trading accounts. Each account type enables both trading in forex and CFDs.

10Markets Review – Is it scam or safe?

Trading Accounts & Conditions

Account type Minimum deposit Minimum trade size Maximum leverage Average Spreads
Bronze $250 0.01 1:200 N/A
Silver $2 500 0.1 1:200 N/A
Gold $5 000 0.1 1:200 N/A
Premium $10 000 0.1 1:200 N/A
Platinum $25 000 0.1 1:200 N/A

10Markets offers its clients a choice of 5 account types, based on the initial deposit. All of them are commission-free, offer both fixed and variable spreads, and leverage up to 1:200. Such leverage levels and a minimum deposit of $250 is common for the forex market, although many other unregulated brokers require less as a start.

There is no information on the website on the broker’s spreads, and when we tried to open a demo account to try out the platform and trading costs, it turned out that this is impossible, until you deposit real funds.

The Company. Security of Funds

Badale Invest Ltd.

10Markets is a broker of forex and contracts for difference (CFDs) on currencies, stocks, indices, and shares on the popular MetaTrader 4 platform. It is a brand name of Badale Invest Ltd. – a company, registered in Scotland, UK. However, 10Markets.eu does not provide information about any authorization to provide such services in the UK. Instead, the broker’s website provides link to a license in Vanuatu, which is attributed to another company – Whitestone Securities Limited. We are quite confused wich is the company behind the brand and whether the two above-mentioned firms are related. Anyway, Vanuatu is an offshore zone and we advise traders to avod brokers registered offshore as a general rule.

Worse still, 10Markets has been included in the warning lists of UK’s FCA, Australia’s ASIC and Cyprus’ CySEC for targeting investors without holding a forex broker license. Besides, the Forex Peace Army recommends extreme caution when dealing with this broker, as it has received multiple suspicious and fake positive reviews about these broker, as well as complaints about withdrawal problems.

Considering the above said, whatever the trading conditions offered by 10Markets, we do not recommend doing business with it, at it is not regulated and is probably a scam. You’d better select a broker with decent regulation, such as those licensed by the UK’s FCA or Australia’s ASIC, for example.

Trading Platforms

10Markets supports MetaTrader 4 (MT4), the most popular platform among both forex brokers and traders. It is available as a desktop download, web-based version and mobile apps.

Besides, it offers auto trading via Mirror Trader.

Methods of Payment

10Markets offers its clients the following deposit/withdrawal methods: via credit/debit card, wire transfer, ecoPayz, POLi, CashU, giropay, iDEAL. WebMoney.

Conclusion

10Markets is a forex and CFD broker that is headquartered in Scotland and supports the popular MetaTrader 4 platform. It is not licensed by any authority and there is not much information about the trading conditions on its website. What is worse, this broker is present in the warning lists of UK’s FCA, Australia’s ASIC and Cyprus’ CySEC, so we don’t recommend doing business with 10Markets. To sum up the above:

Pros Cons
MT4 available Not regulated, insufficient info about trading conditions
Present in the warning lists of numerous regulators & likely a scam
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

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