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Our main objective at 7 Binary Options is to create a safe and secure trading environment for traders in binary options across the world. This is why we have reviewed the prominent brokers in this industry to help our readers opt for the best. As a result of our effort to shed light on the reliable and genuine brokers in this industry, we are currently rated some of the best sources of binary options information. By offering unbiased information, regarding various brokers, we are striving to build a good relationship between the legitimate and the best binary options brokers in the industry and binary options traders from different parts of the world. This is why we are encouraging traders in binary options to register with our website and receive information on the various brokers they are considering investing with.
In addition to offering education on binary options, binary options trade signals and additional support for the various binary options traders, we have also created a list of the trusted binary options brokers that our readers should consider investing with. We also monitor the brokers we have recommended on our website constantly and remove the ones that register scam activities. 10Trade is one of the trusted brokers in our list and we are going to look at its benefits as well as shortcoming s as a binary options broker in this article. For the entire period we have been investigating this broker, we have not received any complaints on the services offered on its platform from the thousands of users on the platform.
In a bid to improve their relationship with the traders on their platform as well as remain compliant with the local and European Legislation by CySEC and MiFID respectively, the company is continually improving its service delivery. Additionally, 10Trade is striving to resolve any conflict it may be having with the traders on its platform. It is for this same reason that this company has clear and straightforward structures for resolving any complaint by the traders on this binary options trading platform. Some of the ways through which customers at 10Trade can have their problems resolved include filling and submitting a Complaint Form on the broker website or sending an email to [email protected] Once you have sent the email, you will get an email from the company to notify that they received your complaints and that it will be handle by their customer care representatives in the shortest time possible. In most cases, all the issues submitted to this broker are addressed in less than a day.
10Trade is registered with the regulatory bodies within the EU financial markets. As such, the company accepts binary options traders from the EU. Owing to the high quality services offered on this binary options platform, the company offers a satisfactory guarantee for its customers. Additionally, the company offers a user friendly binary options trading platform that supports almost all PC operating systems as well as mobile devices. A good number of traders prefer 10Trade broker because of the vast list of assets offered on its platform. Additionally, the company is constantly improving its list of products in order to increase trading opportunities for binary options traders on its platform.
The trading opportunities offered by this company do not depend on the amount deposited by the trader, as it is the case with some of the renowned brokers on the market. 10Trade also offers reliable and highly helpful 24/5 customer care support. This allows the traders on this platform to get quick and helpful assistance when they need it. The deposit and withdrawals into and out of the 10Trade is also fast and seamless.
Is 10Trade Broker Regulated?
Although binary options traders do not have to be regulated for them to offer reliable and secure binary options platforms, being regulated assures traders that the broker is compliant with certain financial regulations within that specific region of operation. This way, traders feel safe when depositing theory money with the broker. Now back to the main question, is 10Trade a regulated broker? Yes, 10Trade is regulated by a well renowned regulatory body in the industry, the Cyprus Securities Exchange Commission (CySEC). The platform is operated by a Financial Services Company known as Holiway Investments Ltd. In this regard, the license number for this regulated status is 248/14. As a matter of fact, Holiway Investments Limited was among the first companies in the industry to offer binary options brokers a registered and licensed binary options solution.
For binary options brokers to operate within the highly regulated markets, such as the EU, they have to be duly registered and regulated by a renowned financial regulatory body in this industry. Being regulated is also a good sign that the broker in question is actually legitimate and offers reliable binary trading services. 10Trade is currently regulated and registered by the CySEC. Additionally, it is the mandate of this regulatory body to ensure that the services rendered by this broker are compliant with the preset binary options trading regulations in the market. This body basically inspects the activities of the brokers it has registered, including 10Trade to rule out any scam activities by the broker. This, in turn, creates a safe and secure trading platform for traders in binary options. In addition to being a regulated broker, we have also included it in our list of trusted brokers, which is another sign that the broker is reliable.
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The 10Trade broker stands out from the rest of brokers in the industry. This may be attributed to the many benefits and high quality services offered by the company, such as the investment return policy imposed by the company. According to this policy, the company has a small insurance premium on the various assets it has listed on its binary options trading platform. In this regard, the binary options traders on this platform can retain a part of their invested value, on certain assets, even if their speculation is wrong. It is this top-of-the-range risk management risk by the broker that makes the company a top choice for a vast majority of binary options traders across the globe. Additionally, the company offers a very efficient and supportive trading platform for its customers. In this regard, 10Trade offers a practical trading platform that features fast trade executions, outstanding data latency as well as low resource use.
The trading data supplied to the traders on this binary options platform is provided by Thomson Reuters, hence is up-to-date and accurate. This aspect facilitates the ability of10Trade to offer highly credible data to their customers. This data helps the traders make the right investment decisions on the various assets offered on this binary options platform. The user interface used on this platform is also easy to use and simple to understand, even for the beginners in this industry. The fact that this broker is regulated by one of the best financial regulatory bodies in the market is an assurance that its trading platform is safe and secure.
Withdrawing from 10trade Accounts
The sole reason that any trader will get into binary options, regardless of the broker he or she decides to use, is to make profits. As such, it will be useless for you to signup with any broker if the broker will not allow you to withdraw your profits easily and in a fast manner. The 10trade broker understands the joy of traders when they are able to get their money safely and securely from their accounts. As such, the company has integrated one of the safest and seamless banking systems you will come across in the industry. If you are looking for a company that will not give you a hard time when you are trying to withdraw your profits from your account, 10trade should be your preferred choice.
Prior to opting for any binary options broker today, it is important that you go through the terms and conditions imposed by the broker, especially the withdrawal terms and conditions. This is a good number of companies today introduce conditions that are hard to meet before the traders on their platform can withdraw the proceeds from their accounts. So, what makes the withdrawal process at 10trade easy, fast and convenient?
Security of the funds in your 10trade accounts is among the aspects that set the company apart from its competitors in the industry. With 10trade, you do not need to worry about identity theft cases or your money getting lost during the withdrawal process. This is because the banking system used by this company is highly secure and safe. For you to withdraw money from your 10trade account, you will be required to fill a withdrawal form on the broker website, from the control panel. However, you need to know that the withdrawal may only be processed through the money processing method you used to deposit money into your 10trade account. This is mainly done to ensure that the company is compliant with the anti-money laundering laws in the industry. However, if the amount you are withdrawing is larger than what you initially deposited, you will have to withdraw using a different method than the one you used to deposit the funds.
After you have filled the withdrawal form completely, you need to submit it to initiate the withdrawal process. In most cases, the traders get the amount they withdrew from their accounts in les than five days. This is a reasonable period, bearing in mind that some brokers take up to seven days to process and release money to their customers. Before the company allows its traders to make their first withdrawal from their accounts, the traders will be required to verify their accounts. To be verified, you need to submit a copy of your ID, and a copy of your credit card or a utility bill bearing your full name and current address. The verification process at 10Trade typically takes less than 24 hour after you have submitted the required documents.
Is the Broker a Scam?
Currently, there are many brokers in the industry that are out to steal money from the unsuspecting binary options brokers. Such scam brokers have various ways in which they steal money from the traders. For instance, a broker will promise high bonuses and a highly profitable trading platform, but traders cannot withdraw any money from their accounts with the broker. Regardless of the means the scam broker used to fleece money from the experienced as well as novice traders in the industry, it can be very inconveniencing for a trader to realize that the company is a scam after he or she has already deposited his or her money with the broker. It is for this reason that we have ventured into investigating the various online binary options trading platforms in the market. As such, you should only expect factual and reliable broker information on 7binary options.
In some cases, scam brokers will increase the charge incremental payments to your credit card without your permission. After trading for a while, the trader will refuse to release any money to you after making a withdrawal request. In this regard, scam brokers do not only waste the time of the traders, but also make the traders incur huge losses in the process. This is why you need to avoid scam brokers at all cost. Having investigated and operated a trading account with 10Trade, we have come to a conclusion that the company is actually a legitimate and reliable broker in the binary options industry. As we continue to offer reputable broker information to our readers and guide them in the right path, with regards to making the right binary options investment decisions, we took time to review the 10Trade broker.
Since we included the broker in our list of trusted brokers, we have not received any negative feedback or complaints by the traders using the platform, regarding any misconduct by the broker. This is another reason that we assure you that the broker is not a scam. On the contrary, the broker offers trustworthy and reliable services for all the traders on its platform, regardless of their experience in trading binary options. Additionally, the company offers professionals and helpful customer help, should the traders on their platform have ant complaint. In addition to its regulated state, 10Trade also has strict privacy and Security measures to ensure that the trading activates and traders’ money stays safe on the platform.
This binary options services provider is also reputed for the transparency of transactions and charges on their platform. As a matter of fact, platform is one of the most secure and safest binary options trading platforms for your money. Since its introduction into the binary options industry, this company has continued to develop and unveil new features and promotions for their customers from different parts of the world. To get more features and promotions as they are unveiled by this broker, we encourage your to sign up with 7binary options.
If you are a new or even an experienced trader in the binary options world, you should also consider taking advantage of the expansive resources and education center offered by this broker to the traders on its platform. The educational material offered on this platform include training sessions as well as resourceful videos, aimed at enhancing the trading experience of the traders using the 10Trade platform and enhance their chances of making profits from trading in binary options. Owing to all these magnificent features offered by 10Trade, the company is currently one of the best rated companies in the world.
Are there any 10Trade Complaints?
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Our mission at Fair Binary Options is to create a fair trading environment for traders in binary options. This is one of the reasons why iGB named us the best binary affiliate. We aim at creating trust between brokers and traders through the binary options trading services we offer. We therefore encourage traders to use our site to register, and receive additional support through signals, education and broker services. Our efforts are focused on becoming a trusted partner and we therefore will not hesitate to remove any unprofessional brokers from our list. 10Trade was added to our list of trusted brokers at the beginning of last year and since then, we have not received any 10Trade complaints concerning this broker.
To ensure compliance with the European Legislation (MiFID) as well as local legislation for Investment Firms as issued by CySEC, 10Trade is always seeking to improve their services and resolve any potential issues that may arise with their clients. It is for this reason that the broker has established internal procedures for handling complaints in a fair and prompt manner. In the event that a trader is dissatisfied with the services provided by 10Trade, they are requested to inform the broker accordingly. This may be done by completing the 10Trade Complaint Form and submitting the complaint along with any additional relevant documentation to 10Trade via email at [email protected] Upon receipt of the complaint, 10Trade will send the trader a written acknowledgement of receipt of their complaint within one business day.
The broker will then investigate and review the complaint made with the relevant department and thereafter inform the trader accordingly. Traders are advised to contact the broker should they require further information regarding the 10Trade complaints handling procedure.
10Trade accepts European customers and is a registered broker under the financial markets regulatory bodies of the EU. This is one of the ways in which this broker offers its clientele a satisfaction guarantee. 10Trade also offers a unique binary options trading platform that is available on every PC operating system and mobile platform.
The broker further offers a rich asset list, as well as a range of trading modes to enable traders to reap massive profits within the shortest expiry times. 10Trade is constantly upgrading their product list to increase trading opportunities. 10Trade has a free educational center available to support their client’s educational efforts.
This resource is not tied to the deposit amount as is the case with other brokers. 10Trade offers superb customer care available 24/5. This is of crucial importance for traders to access the support they require quickly in the dynamic financial world. Their banking services are also fast and reliable, featuring easy deposits and fast withdrawals.
Is 10Trade Regulated?
Yes, 10Trade is regulated. That means they are safe to trade on. 10Trade.com is the trading name of Holiway Investments Ltd., a Financial Services Company authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under license no. 248/14. Holiway Investments Limited is one of the first companies to offer traders a fully licensed and registered binary options solution.
In fact, Holiway Investments Limited is one of the premier brokers to offer traders a regulated binary options trading service. In order for a broker such as 10Trade to operate within regulated markets, they need to apply for and be issued a trading license. Such licenses are proof that the broker is legitimate and offers safe and fair trading services. CySEC grants licenses to this broker and also ensures that 10Trade upholds all laws governing Cyprus and the rest of the European Union.
This body inspects the activities of brokers and brokerage firms such as 10Trade and oversees the operations of the stock exchange, regulation of financial markets and monitoring of financial transactions. 10Trade is just one of the recent binary options brokers to be added to the exclusive list of high quality brokers featured on Fair Binary Options.
One of the key features that sets 10Trade apart from its competitors is their investment return policy which includes a small insurance premium that varies with individual binary options, yet ensures that some options allow users to retain part of their funds even when their investments end up “out of the money”. This type of first class risk management is characteristic of the high quality services offered by 10Trade.
10Trade offers an enjoyable experience during execution of their trading window. Their platform allows for excellent data latency, fast execution, low resource use and a very practical binary options trading interface in a color setup that enables traders to keep their eye on all possible trading outcomes at a glance. Data for the 10Trade trading platform is supplied by Thomson Reuters, the world leader in data intelligence services.
Combined with the fact that 10Trade is a regulated binary options broker, this aspect provides an additional degree of data credibility with regards to trading binary options. Having tested out most of the features available on the 10Trade trading interface, we can confirm that it delivers with regards to accuracy and simplicity.
Regulation of the binary investment market and brokers is important in providing a safe trading environment for traders. Because of laws and regulations governing the binary options trade, brokers are obliged to offer only the safest, fairest and most legitimate services to their traders. Brokers who break these regulations end up facing heavy fines, and even suspension of their licenses, which could very well end their business.
10Trade Withdrawal Questions regarding 10Trade withdrawal are always among most frequently asked. Traders want to be able to withdraw their funds without any difficulties in order to experience complete advantages when trading binary options with 10Trade. Selecting a reliable broker, such as 10Trade with a safe trading platform is the first step.
The best recommendation from us on Fair Binary Options is to carefully read Terms & Conditions related to 10Trade withdrawal and security of trading platform. Since security is the primary goal of this broker, traders would be happy to know that 10Trade uses SSL security system which encrypts traders’ personal and financial data. To conduct any payment, it s necessary to provide 10Trade with a photo ID copy, proof of address and copy of credit card, if one is used in trading process. These documents are needed to confirm traders’ identity.
To be eligible for 10Trade withdrawal, traders have to submit a withdrawal request, which has to be approved by this brokerage. It usually takes two business days for broker to process 10Trade withdrawal request. When approved, additional 5 business days are required for funds to be available on trader’s account.
Is 10trade a Scam?
10Trade is relatively new broker on binary options scene, online since 2020. In binary industry, 10Trade is known as a reliable binary broker who offers a safe platform for trading binary options. Unlike some other brokers in the industry who offer fraudulent trading bonuses to deceive traders, 10Trade scam so far has not been reported.
Trading binary options with 10Trade is secure thanks to high safety standards that this brokerage has implemented in trading platform. From their establishment, we haven’t received any reports of 10Trade scam. They conduct transparent online business with all important elements available on their platform. On Fair Binary Options, we pay a lot of attention to ensure traders worldwide to have only positive and profitable binary options trading journey. From the start, we have added 10Trade on our list of trustworthy brokers haven’t came across any negative 10Trade scam experiences.
We would like to emphasize how 10Trade is a regulated broker by CySEC regulatory authority under registration number 248/14. Regulatory status brings traders more confidence that their funds will be protected while trading. Deposit and withdrawal processes are easy and safe for traders who invest in binary options. 10Trade uses SSL security system which shows they are a respected brokerage with no 10Trade scam. To deposit with 10Trade, traders have to invest $200 and possibility to trade with following currencies: USD, EUR, RUB, GBP and SEK. As a legit and regulated binary broker, there is no 10Trade scam and traders can use their platform for safe binary options trading.
10Trade is owned and operated by Holiway Investments Limited, located in Nicosia, Cyprus at 4, Pindou Street, 4th Floor, Flat/Office 408, Egkomi, CY-2409. This means they are under the jurisdiction of the Cyprus Securities and Exchange Commission. Their license number is 248/14, their telephone in Cyprus is 22 35 35 57 (as listed on CySEC;s website) and in England is 0808 189 1458. Their email address is [email protected] Overall, 10Trade is fully regulated, which is a big plus because knowing that a regulatory authority watches over their actions offers an increased level of confidence for clients. On the other hand, U.S. clients are not accepted due to EU regulation restrictions.
Is 10Trade a Scam?
10Trade is strictly regulated and very transparent, having all the relevant information displayed on their website and going simply by the book. We are certain that 10Trade is not a scam.. Usually if a broker doesn’t show the name of the owning company and the address on the website I have a very tough time getting this info from their Support service and usually I end up searching for it in other places. It’s like it’s some sort of a secret… but anyway, that is the first red flag for me. Since 10Trade has a totally opposite approach and they make everything very visible, I‘d say they are miles away from being considered a scam but we will keep monitoring, nonetheless.
Update 2020: This broker recently had a massive drop in traffic and could be considered a firm that is shutting down. However, live chat was still available and denied the allegations. Bear in mind that most firms deny they are ceasing their operations until the last moment. In this case we can report a huge loss in traffic and, based on similar cases with many other brokers, we can only assume they are closing.
Editor’s Note – Why 10Trade Doesn’t Suck in 50 Words
Regulation. In fact, it’s not only that they’re regulated by CySec, but they also go by the book by all means. Some users from non-European countries may be surprised they can’t trade with 10Trade due to the new EU regulations, and existing users would find 10Trade’s Complaint Form very easy and accessible in case of trouble. On top of that, I cannot help but mention that their market reviews are up to date. My senior readers probably know how “strict” I’m with that.
Why 10Trade sucks in 50 words
My first impression on this brokerage is actually very good and when that happens, I consider even the smallest thing a suck-factor. With a bad brokerage you can find tens of reasons why they suck but with a good one, things are harder. Anyway, enough chit-chat; they suck because of the smiling dude on the front page. What’s up with that? Do they even know its 2020 and this type of marketing looks like a 2020 sales-page? I know that dude is there to inspire confidence but it does the opposite.
Should I Open an Account with 10Trade?
Update 26/02/2020: 10Trade.com went from hundreds of thousands in traffic to only a few thousand. It could be because they stopped marketing, which in turn means they could be shutting down. Overall, I can’t say for sure and as mentioned before, their live support denies this. Interestingly, their live support was available during a weekend which is good and in addition, 10Trade, in accordance with new CySec rules, removed their bonus scheme and no longer offers any bonuses tied to trading volume. It translates to that they still seem to be on top of things and offering good service despite the very low traffic.
The platform used by 10Trade is Spot Option version 2.0 and I am very glad to say they offer the new Ladder Options feature which allows you to make more money if the option expires further away from your entry point. Here’s a real time example taken from their platform as I write this review: the current price is 1.1295; if after 15 minutes your Call option will reach the price of 1.1305, you will get 378.19% payout. Huge, right? And we are only talking about 10 pips. If your option reaches 1.1310 you will get 437.72% payout and the percentage increases to 502.53% if 1.1314 is reached. I recently talked about this Ladder feature in another broker review and I said that I believe more and more brokers will offer it. Looks like I was right, but actually I don’t know who introduced it first so I don’t know where full credit goes. Anyway, it’s a great addition to binary options and I think it will be particularly useful during news releases when price can move strongly.
As far as I am concerned, 10Trade is a great looking broker, actually one of the best I’ve seen lately. The client gets good education, innovative features and of course, the safety of CySEC regulation, all combined with a professional approach from 10trade employees. We’ll keep a close eye on this brokerage and we hope they don’t disappoint because so far they are top notch… they just need to change the smiling dude on the homepage. Just kidding; actually now that I’ve spend more time on 10Trade’s platform, I don’t even notice the guy anymore.
Update 2020: We couldn’t find any negative complaints, no withdrawal issues nor account manager fraud claims. It could be because 10Trade.come is legally registered in most European countries and operating favorably with their clients and that the few clients that had issues have been complaining through their respective regulators. Another reason is that this broker has such low traffic during the past six months it’s obvious that we don’t hear too many complaints.
10Trade Regulatory Announcements and Warnings
09.03.2020: CSA in Canada publishes a list that includes 10Trade.com among brokers that illegally target Canadians. Source: Lautorite.qc.ca
Update 26/02/2020: 10Trade.com announces: “In order to conform with new regulations issued by the supervising authority, our bonus scheme will be withdrawn as of today. The rights of clients who have already accepted bonuses will not be affected in any way. Terms and Conditions related to bonus schemes will continue to be binding for both parties (for ourselves and the client.)” This means that 10Trade.com, in accordance with new regulations will no longer offer bonuses tied to trading volume, which is a good thing. It also means that if you already have a bonus since before, the previous terms apply as mentioned in the earlier review below:
The turnover required before being able to withdraw the bonus also differs depending on the amount you received as a bonus. What is important to me is the fact that your deposited money is available for withdrawal at any time. This is very important and speaks a lot about their fairness because we know that most brokers will block your deposited money until you reach the required trading volume. Also, the Bonus will not be pushed down your throat and instead you have the option to take it or not. Extract from 10Trade’s Terms and Conditions: “11.1.3 The Company will not restrict the client from withdrawing his/her deposit…”, “11.1.4 Client is not required to accept any bonus offered by the Company, all bonuses are optional.”
Their rules regarding withdrawals are pretty much standard, meaning that you have to provide valid IDs and all funds deposited through a credit/debit card must return to the same card. All additional profits can be withdrawn via wire transfer. The minimum withdrawal is $30 for credit cards and $100 for wire transfers and the processing time is up to 3 business days but additional time can pass until the funds are visible in your bank (5-7 business days).
User Friendly 17/20
The website is translated in 8 languages, the platform is SpotOption which is one of the best in the industry and it is well known for its capability of satisfying both new and seasoned traders and the website works smooth, with easy to access information.
Number of assets and expiry times 18/20
With 10Trade you have the opportunity to trade 29 currency pairs, 112 stocks, 9 commodities, 37 indices and 25 Pairs, which is much more the enough. The expiry times range from 60 seconds to end of day and even end of year, with all the normal time frames in between. One Touch options are also available.
Commissions, Support and Effective return 17/20
As usual, there are no fees to register and to open an account but a $30 fee will be paid if the client wished to make more than one wire withdrawal per month. The payout ranges between 70% and 81% which is pretty good and in case of an unsuccessful trade you will get a refund up to 10%. Their support team is very quick to answer and I didn’t have any trouble getting the information I needed. Update 2020: if your account drops below 25$ (or other currencies) you will be charged 5 currencies per month until the last debit where after your account will be closed. If your balance is above 25 currencies however, your account will be closed after getting notified by the company and after 10 days after which your account balance is returned to you.
Deposit, Payment and Bonus 17/20
The minimum you can deposit is $200 and the ways to do it are credit/debit card, wire transfers and a variety of e-wallets (Skrill/MoneyBookers, CashU, iDeal, Neteller). Withdrawals are processed in up to 3 business days and 5 to 7 days will pass until the money will reach your account after the transfer has been accepted. Update 2020: 10Trade.com no longer offers bonuses as mentioned above under bonus section. This is in accordance with new regulations.
Website Extras 13/20
The Ladder feature is great, Regulation is a big plus and they clearly say they don’t tie your own deposited money to their platform. Considering that 99% of brokers do their best to keep your money in their pockets (excuse me, “platforms”), I rate 10Trade with a higher score simply because they clearly state in their Terms and Conditions (not only in Live Chat or somewhere on the website) that your money is your money.
10Trade Overall Ratings (84) + Regulated (+3) = 87/100
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