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• Our Review Method

• Is 10Markets Scam or Legit Broker?

• What is 10Markets?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding 10Markets due to the issues we've identified.

Is 10Markets Scam or Legit Broker? ▲

Upon conducting a thorough investigation into 10Markets, it has become evident that this brokerage firm lacks the proper regulatory oversight, rendering it an unsafe choice for traders. This company does not have any form of authorization or registration for its business operations, leading to suspicions of its legitimacy. The absence of any regulatory safeguard or transparent business location further amplifies the risk associated with engaging with 10Markets. It is crucial for traders to recognize that without appropriate regulatory compliance, their investments are not protected and are at a higher risk of fraud.

What is 10Markets? ▲

10Markets represents itself as a brokerage firm specializing in Forex and CFD trading. However, there is a concerning lack of information regarding the company's operational base or any form of reputable regulation. The contact numbers provided feature South African, Serbian, and Russian country codes, which only adds to the ambiguity surrounding the broker's actual location.

This firm claims to hold a license from the Vanuatu Financial Services Commission (VFSC), a regulatory body known for its lenient licensing requirements. Establishing a brokerage in Vanuatu is notably straightforward, requiring a minimal setup fee of $2,000 and a few months to obtain registration. This ease of entry has unfortunately made Vanuatu a haven for less scrupulous Forex brokers. The VFSC license, costing approximately €24,000 annually, offers no substantial protection for traders due to the lack of stringent operational guidelines for brokers. This situation poses a significant risk for traders, as there is no guarantee of fund safety or fair trading practices.

Conclusion ▲

Based on our comprehensive analysis of over 1000 brokers, we strongly advise traders and investors to steer clear of 10Markets and other Vanuatu-based brokers. The lack of reliable regulatory oversight and the ambiguities surrounding the broker's operations make it an unsuitable choice for those seeking a secure trading environment. It is imperative for traders to opt for brokers that are rigorously regulated by reputable authorities such as the FCA in the UK or ASIC in Australia. Engaging with well-regulated brokers ensures a higher level of protection for your investments and a more transparent and fair trading experience. In light of these findings, we recommend avoiding any involvement with 10Markets and urge traders to consider more reputable and securely regulated alternatives for their trading needs.

It has also come to our attention that 10Markets is currently inactive, with its website being inaccessible. This raises further concerns about the stability and reliability of offshore-based brokers, who often lack the necessary regulatory safeguards to ensure trader protection. Given these circumstances, we emphasize the importance of avoiding such entities and instead choosing brokers with a strong regulatory framework and a proven track record of stability and transparency.