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.
Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk. According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit. Trading in futures and options carries substantial risk of loss and is not suitable for every investor.
Crypto trading account
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.
RAW/ECN Account Commission And Spread
The expertise of the experts is highly valued by users, and they respond as quickly as practicable. There is a call center, email support, and ticketing system on the website. Client support is notably unavailable during weekends, and the broker faces certain regional restrictions, such as non-availability in Germany. We have thoroughly analyzed all companies legally providing trading services in your country and created a ranking of the best ones. TenkoFX offers a limited selection of trading assets compared to the market average.
- The additional commission is charged on rollover and is shown on the account.
- In other words, the overall trading conditions are always equally advantageous.
- The difference between STP and ECN accounts, apart from the available instruments, lies in the trading fees.
- In other words, the professional development of TenkoFX clients is up to them.
- People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
This broker has existed for 11 years and has an impressive client base. Apparently, TenkoFX is not regulated but operates transparently under the financial legislation of Nevis. It has a powerful technological infrastructure that ensures order execution within ms, as well as one of the best and most modern security systems in the segment.
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.
- Keep this PIN code in a secure place as it will be required for confirming financial transactions.
- Apparently, TenkoFX is not regulated but operates transparently under the financial legislation of Nevis.
- TenkoFX received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
- After that, you will receive a download link for the trading platform and all the necessary login details.
Also, the Traders Union is not a broker and does not get money for trading in the Forex or CFD markets. Our website only provides information on brokers and the markets and helps its users to select the best brokerage company based on detailed information and objective analysis of brokers. A trader is successful only if, in addition to trading, he engages in self-education. By this, TU means reading specialized literature, attending relevant webinars, and studying analytical materials prepared by experts. Some brokers offer comprehensive educational systems, while others only have basic FAQs. It only explains the basics of platform operation and provides news and analysis of currency markets.
Trading Fees and Spread
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. Some only deal with contracts for difference (CFDs), and are known as CFD brokers.
ECN Account – CFD Commission
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.
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.
Keep this PIN code in a secure place as it will be required for confirming financial transactions. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. The additional commission is charged on rollover and is shown on the account. All features and options are centralized in the trader’s user account. The convenient dashboard provides basic information with the ability to delve into any aspect.
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.
The TenkoFX broker offers extensive opportunities for active and passive earnings. Three account types, over a hundred financial instruments, and high leverage provide outstanding profit potential. Copy trading and PAMM accounts offer additional income with reduced risk.
TenkoFX differs from these companies in that the pool of assets available to traders is combined, including currency pairs, cryptocurrencies, metals, and CFDs. The broader the pool of assets, the more diverse the strategies and methods a trader can use. 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.
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 tenkofx 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.