TenkoFX Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this TenkoFX Review.
TenkoFX offers two types of accounts: STP and ECN/PAMM, as well as a demo account. The auto trade options also exists, via the MyFXBook AutoTrade service.
The broker offers trading in forex, gold, silver and indices.
The Company. Security of Funds
TenkoFX is an offshore-regulated broker, owned by Tenkofx Ltd. The company is based in Belize and is licensed by the International Financial Services Commission (IFSC) of Belize.
Of all the offshore zones that host forex brokers, Belize is the most reliable, but the IFSC is by far not the most reliable of all regulators, compared to the likes of the Financial Conduct Authority. It is known for its lax requirements and relatively low fees and is rather attractive for many forex brokers, small and large. Generally most of the brokers regulated by the IFSC abide by the rules, but one must nevertheless be careful when dealing with offshore brokers.
TenkoFX offers trading on the MetaTrader 4 (MT4) platform for desktop, web and mobile devices.
MT4 is one of the most popular trading platforms and is used by hundreds of brokers. It lets users develop and implement their own strategies, place market and pending orders, trade from a chart. The platform features instant execution, stop orders and trailing chart, tick chart, trading history, and technical analysis tools.
TenkoFX gives a $30 welcome bonus to all new clients. There is also the ECN Gravity promotion, which offers 3 months of trading with liquidity costs of just $10 per million to clients who deposit $1000 or more.
Methods of payment
TenkoFX accepts payments with a bank transfer, debit and credit cards, including China UnionPay and the electronic payment systems Neteller, Skrill, Qiwi Wallet, FasaPay. The broker also accepts deposits in Bitcoins.
TenkoFX is an offshore-regulated forex broker that offers trading in the most popular forex pairs, as well as some precious metals and indices. The maximum leverage for one type of accounts is 1:500, which is rather high, while the spreads, even though variable, are rather tight (below 1 pip for major pairs).
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
TenkoFX Review Conclusion
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