TenkoFX is broker Forex and CFD and regulated by the International Financial Services Commission (IFSC) of Belize.
Because as traders will certainly look for as much information as possible about the company hence this full review will be informed about TenkoFX broker.
Before investing in brokers as a bridge between traders and the forex market, and about a regulated broker, TenkoFX included main criteria for them.
This broker has been operating in the financial market since 2012. This retail broker has won the trust of various investors and traders. the capital invested by investors with TenkoFX was worth nearly 1.5 million dollars and still possible to grow.
This proves the rapid development of the brokerage company TenkoFX.
The company offers trading services on the Forex and commodity markets, specifically trading contracts for difference (CFD), by a license for financial services issued by the International Financial Services Commission.
TenkoFX’s main service is in Straight-Through Processing technology (STP), meaning that this broker is not involved in trading at all.
As the saying goes, you will never know if you don’t try it.
With a minimum capital of only 10 $ you deserve to try TenkoFX services, and gain experience with the quality of the trading platform.
If you still doubt, this review will give you confidence with TenkoFX and start trading with them.
History of the company
TenkoFX’s company profile was founded in 2012 and is a broker who has been experienced in serving traders for more than 7 years.
The company focuses on providing customers with access to the Forex market, spot indices, spot metals and energy, and cryptocurrencies.
With the motto that the forex business can provide a stable income for the long term, and not just a hobby, this company provides the best service for business access.
Aggregation of prices from various liquidity suppliers, including JPMorgan, GOLDMAN Sachs, LMAX, Deutsche Bank AG, Morgan Stanley, and others
The company operates with the following favorable requirements: low spreads, 24-hour support services, and instant money deposit and withdrawal via, Neteller, QIWI, Fasapay, and Skrill, Perfectmoney, Advcash.
The main priority of this brokerage company is its clients and partners. That way, TenkoFX which as a broker that regulated in Belize pursues policies that meet the needs and demands of each client. Regional offices are located in Kyrgyzstan, India, and Bangladesh.
Information company profile
- On-line since: 2012
- Country of origin: Belize
- Regulation: International Financial Services Commission of Belize (IFSC).
- Payment options: Visa MasterCard, WebMoney, Neteller, QIWI, Fasapay, Skrill, bank wire in US dollars or ruble.
- Minimum balance: $ 10.
- Smallest Lot: 0.01.
- Leverage: up to 1: 500.
- Spreads: starting from 0 pips.
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TenkoFX offers a trading platform for traders, a platform that is popular among forex traders with the name MetaTrader 4, with a trading platform that allows you to use indicators made by third parties or commonly called custom indicators, and also you can use EA or expert advisors for automated trading.
Before you start trading using the TenkoFX Metatrader 4 platform you need to download it and install it on your computer if you trade via android you need to download it on the play store.
Maybe those of you who are experienced already understand the ins and outs of the 4 Metatrader platform which is an advanced technology software that provides useful features for forex traders.
A varied timeframe allows you to see detailed price movements at different time points of view so that you get a clearer analysis.
To make transactions with the Metatrader 4 platform you can do instant execution and also use the pending order facility, either sell limit buy limit or sell stop and buy stop, this feature is useful for you to get the best price.
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This broker relies on three types of trading accounts that you can choose from, STP, ECN, and Crypto accounts.
STP account is an abbreviation of Straight Through Processing, which is a broker that offers this STP account will not fight traders, in the sense that it is a non-dealing desk broker.
Your order will be immediately thrown to the broker who provides liquidity to the forex market, the excess is the order speed is only less than one second and the broker will find the best price in real-time.
This ECN account stands for Electronic Currency Network, which means that the broker who offers this account will bring the seller and buyer in real-time with an online network, here the broker only benefits from spreads.
With ECN accounts, their traders can directly meet with large institutions, both from the government without going through brokers anymore.
Crypto account, this is a digital currency that began to flourish since a few years ago, there are many kinds of cryptocurrencies that have emerged after Bitcoin.
In crypto accounts you can trade digital currency pairs through the MetaTrader 4 platform without having to go through exchanges, some crypto instruments are USD, EUR, RUB, MBTC, LTC, ETH.
You can choose an account type that suit with your capital, if you are professional trader might ECN account is the best option, but if still amateur trader, STP account is a good choice, and if you ready to trading crypto, hence account crypto is your choice.
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TenkoFX offers leverage up to 1: 500, but this is for STP accounts, while for ECN accounts this broker offers leverage up to 1: 200, and for Crypto accounts leverage uses 1: 3.
The question might arise why crypto accounts only use 1: 3 leverage and STP accounts use 1: 500 leverage.
To answer this question again can learn about the concept of leverage, where low leverage requires a large margin to open one lot, you can read again about leverage.
With that consideration, maybe this broker offers low leverage for crypto accounts for traders’ security, because the cryptocurrency market is always open 24 hours 7 days a week, with a high level of risk.
To connect with various liquidity provider companies, forex brokers use technology that can bridge their platforms with other platforms.
This technology double function. In addition to allowing the quotation of the price of the liquidity provider to the trader platform, it also often allows the broker to choose whether to process an order with the chosen liquidity provider.
In practice, a forex broker can only deal with one liquidity provider or more.
Affiliate brokers with many liquidity provider companies can provide many benefits for forex brokers and traders who join them.
Brokers can offer more diverse bid and ask prices and smoother liquidity. Whereas traders can get tighter spreads and quote the best prices.
TenkoFX deals with some of the world’s leading liquidity providers from numerous liquidity suppliers, including JPMorgan, GOLDMAN Sachs, LMAX, Deutsche Bank AG, Morgan Stanley, and others, so this benefits for the trader.
For crypto liquidity providers TenkoFX collaborates with liquidity aggregators from various exchanges, brokers and suppliers of leading cryptocurrency exchanges such as Bittrex, Bitstamp, Bitfinex, Binance, Kraken, Poloniex, OKEx, etc.
The aggregator has the task of receiving, analyzing, filtering, and processing supply requests and information from different liquidity providers and ensuring the implementation of customer orders at the best prices available on the market.
TenkoFX has an ECN commission schedule that depends on the account equity and total trading volume for the past 30 days. In accordance with general institutional market practices, volume commissions are quoted in US dollars per 1 million traded, more higher equity and volume trading, the commission will be smallest.
Equity less than 1000$ with a volume was less than 5.000.000 charged commission 40$ per Mio, volume 5.000.000 – 50.000.000 charged commission 25$, and volume were higher than 50.000.000 will charged commission 18$ per Mio.
For equity 1000$-10.000$ with a volume less than 5.000.000 charged commission 25$ per Mio, volume 5.000.000 – 50.000.000 charged commission 25$, while volume was higher than 50.000.000 with commission 18$.
Equity 10.000$-50.000$ and higher more with volume trading less than 5.000.000 charged commission 18$ per Mio, volume 5.000.000 – 50.000.000 charged commission 18$ per Mio, and volume higher than 50.000.000 charged commission-only 10$ per Mio.
For STP account no commission, but with mark up pricing, while for a crypto account with commission 0,5% half-turn.
TenkoFX also provides a forex calculator that will make it easier for traders to calculate swap costs, the margin needed to open position sizes.
By filling in the required variables, in the available options, it will automatically provide a calculation with the results that you see immediately.
You can choose the highest leverage to calculate margin requirements, but this is also higher risk, you should be wise when choosing leverage, adjust the amount of capital and type of account.
Deposit and withdrawal method.
The deposit and withdrawal method from this broker has a variety of options, if you have the cryptocurrency you can use BTC, Ethereum, Litecoin, and Tether.
For the choice of using the payment processor broker, it supports using Fasapay, Neteller, Skrill, Qiwi wallet, Advcash, and Perfectmoney.
With the choice of several deposit and withdrawal methods, it will certainly make it easier for traders to choose which method they prefer, or what they use, details, this method on the TenkoFX website.
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With the PAMM service, it allows investor traders and novice traders to make a profit by joining the PAMM service by choosing the best PAMM manager, where he is able to earn long-term profits.
Usually beginners still don’t have enough experience to trade independently, and still often lose, the PAMM service is one solution to gain profits in the forex business while learning to trade he has the opportunity to profit from the PAMM system.
There is also an investor trader who diversifies capital, he joins the PAMM service, while he also conducts independent trading.
TenkoFX is one of the brokers that provide PAMM systems, you can choose a reliable manager to start joining them.
PAMM managers, or also can be referred to as masters, are traders who open a PAMM account as an account manager, where he will manage investor capital, or it can also be called a follower.
To become a PAMM Manager there are steps that need to be followed by traders, as well as special requirements that are part of opening a master account.
Likewise, TenkoFX provides PAMM system services, to become a master trader you can follow step by step as explained on the page benefits of the TenkoFX PAMM for managers.
After opening a master account, it also still requires initial capital by depositing a certain amount according to the broker’s requirements.
TenkoFX rules to open master PAMM is described below:
The minimum Master Capital for a PAMM STP is:
- To create a PAMM account: 100 USD; 100 EUR; 5 000 RUB.
- To create a Master Offer for attracting Followers: 100 USD; 100 EUR; 5 000 RUB.
The minimum Master Capital for a PAMM ECN is:
- To create a PAMM account: 200 USD; 200 EUR; 10 000 RUB.
- To create a Master Offer for attracting Followers: 200 USD; 200 EUR; 10 000 RUB.
To get investors, of course as a master, they must make an offer, so investors are interested in investing.
PAMM investors are also referred to as Followers, in order to become a PAMM investor, they must also take steps to be taken, the benefits of being a PAMM investor, of course, he will receive profits without having to trade independently, but he will receive profits according to the PAMM Master offers.
Being a TenkoFX PAMM Investor you must also follow the step-by-step explained on the page benefits of TenkoFX PAMM for investors.
To become a PAMM Investor you have to find and find a PAMM manager who has a reputation for certain criteria, for example, maximum drawdown, age of PAMM account, number of followers, ranking.
So your investment can grow when you find a reliable PAMM manager.
To attract clients, TenkoFX also offers promotional programs with several types.
- The way of samurai.
- “TENKOFX CASHBACK” loyalty program.
- ECN Gravity.
- Vacancies for PAMM managers FOR PAMM MANAGERS!
The way of samurai os contest trading with real account STP and ECN, with duration contest a month and contest provided monthly.
You need capital 100$ to start taking part in the contest to compete in the contest with prize fund 200$.
“TENKOFX CASHBACK” loyalty program. this promotion for the new client, TenkoFX will return a part of the funds to its new customers within the first three months of trading since the time of registration of an account with the company, even profit and loss company will return funds according to their rules.
ECN gravity This promotion is for ECN accounts by cross-bidding, aggregating, and giving traders liquidity in just milliseconds at very low prices, to join this promotion program a minimum of 1000 $ deposit.
Vacancies for PAMM managers FOR PAMM MANAGERS! If you are a profitable trader for more than six months, you can participate in this offer, there are several plan vacancies, for beginner, Sparta, and Olymp.
Tenkofx partnership program
Like most brokers, TenkoFX brokers also offer partnership programs, which are affiliate programs with commissions set by the company.
TenkoFX offers up to three level commission benefits, so this can increase participants’ profits with 100% commission level for level 1, 35% for level 2 and 10% for level 3.
You may join this program to earn income, even if you don’t become a trader, but if you are able to get a lot of customers active, commissions will flow to your account.
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In choosing a broker, traders will usually see the broker’s regulations, whether they have regulations or not, because this regulated company shows seriousness in establishing a company.
And TenkoFX, as mentioned by this broker, is regulated by the International Financial Services Commission (IFSC) of Belize
Thus for the security side, this broker is included in the traders’ criteria.
The second consideration for traders in choosing a broker is a review of traders who have used brokerage services.
In this case, there are several different reviews, some say they are problematic, and some say that everything is fine, but in comparison, the negative and positive sounds are still more positive reviews for this broker.
For security account, this broker also supports SMS validation if you want to withdraw from Tenkodesk account or change personal data, your account linked to the mobile number and will get code when you withdraw money.
Beside SMS validation, also using advanced SSL EV (Extended Validation) technology, GeoTrust, so data transmitted from Tenkodesk will be encrypted to prevent intruders.
TenkoFX Reviews on Forexpeacearmy.
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For you, traders who have experience in forex trading may already understand the Forexpeacearmy dot com, which is a site that discusses and provides original information about broker reviews and traders’ experience in using the broker in question.
Including TenkoFX is one of the brokers that has been reviewed by Forexpeacearmy and there are many statement traders who express their satisfaction using this brokerage service.
There is also a review of a trader who has a problem with his case about an order that is not in accordance with market conditions, he said that TenkoFX is a scam broker.
But it turned out that client support finally conducted a question and answer session in the forum and finally provided a solution to the traders’ problems and problem resolved so he decided to stay with TenkoFX.
In the help center section, you can access various useful information, for the FAQ page, you will find information relating to the personal area, general question, deposit and withdrawal, trading condition, trading account, etc.
If you are a beginner you can start with a trading academy that will guide you to get started, or you can read an article which there are many articles all related business.
If you have some problem, contact support TenkoFX also available for 24 x 5 days a week, via email or skype also telegram and phone contact.
With a minimum deposit of only 10 $, this broker is worth trying, if you are a beginner, it’s better to try with a demo account first, but maybe the STP account is less suitable for beginners because the value per pips is higher than a cent account, but unfortunately this broker doesn’t offer cents account.
Thus the conclusion is this broker is suitable for those of you who are experienced in trading forex, with the choice of STP and ECN accounts this is already a serious type of account.