Being a regulated broker, 10Trade provides a thoroughly trader-oriented platform that has several advantages for both beginner and expert traders. However, we would like 10Trade to concentrate on some areas of its service for better levels of customer satisfaction.
A Brief Outline Of 10Trade Review
10Trade has developed a niche for its own in the binary options markets, as the company has chosen to adopt a straightforward approach towards binary options trading. Such a move has been well-received by traders, especially in the light of the competition that is keen on making profits at the traders’ expense. Brokers usually aren’t committed to the welfare of the traders, especially those that are not regulated by a genuine regulatory agency.
We approach every broker review with the intention of discovering all the finer aspects of trading the binary options market. There are numerous choices for traders in the industry that provides a large range of binary options products with varying levels of payouts and trading performance. We are particularly concerned about the fees of trading, platform efficiency, bonuses, and the safety of funds. Therefore, our 10Trade binary options review has all the ingredients for gaining a clear picture of the broker’s performance, and is a must-read for all categories of traders before investing in the company.
10Trade offers a regulated binary options brokerage service and has been a verified broker since 2014. Holiway Investments Ltd., which operates out of its corporate headquarters in Nicosia, Cyprus, is the primary company that is responsible for maintaining 10Trade’s binary trading operations. 10Trade is simply a brand name and operates as a financial company that can indulge in different types of foreign exchange transactions, including handling of clients’ funds. Therefore, 10Trade is regulated by the Cyprus Securities and Exchange Commission (CySEC) to operate as a financial brokerage under the European Markets in Financial Instruments Derivatives (MiFID).
Cyprus is an official member of the European Union that received its membership during the early part of the 2000s. Since its induction into the EU, the CySEC saw a series of changes that targeted improving the financial transparency of companies domiciled in Cyprus. The CySEC currently operates as per the EU derivatives and framework designed for enhancing investor safety. According to the current set of directions, 10Trade should provide evidence of holding a minimum operating capital of €1 million, segregate clients’ funds in individual bank accounts, and audit its financials to provide timely reports to the CySEC.
10Trade also provides a guarantee of protecting investors’ funds against broker insolvency by offering compensation of funds up to €20,000 through the Investor Compensation Fund (ICF). CySEC has the distinction of being one of the foremost regulatory agencies that legalised the concept of binary options in the country and has ever since played an integral part in the development of the binary options market. It is indeed commendable that 10Trade has ensured the best regulatory policies for its clients under the European regulatory guidelines.
Tradable Products & Underlying Instruments At 10Trade
With over 200 options to choose from, 10Trade has far exceeded the market expectations by covering a huge range of financial assets from the Forex, commodities, stocks, and indices market. The company has even facilitated the option of trading pairs, which does put the company in a privileged position against the existing market leaders. Here is a list of all available financial assets available at 10Trade:
Stocks: 3M, ADIDAS, AIG, ALCOA, ALIBABA, ALLIANZ SE, AMAZON, ANZ BANK, APPLE, ASX, ATHENS, AXIS BANK, BAIDU, BANCO SANTANDER, BANK OF AMERICA, BARCLAYS, BASF AG, BAYER AG, BHP-AU, BLACKBERRY, BMW, BOEING, BOVESPA-F, BP, BRITISH AMERICAN TELECOM, CATERPILLAR, CHEUNG KONG, CITIGROUP, COCA COLA, COMMONWEALTH BANK, DAIMLER AG, DEUTSCHE BANK, DEUTSCHE TELEKOM, DISNEY, E.ON SE, EBAY, EXXON MOBIL, F5 NETWORKS, FACEBOOK, FAZ-SHORT BANKS, FREEPORT MCMORAN, GAZPROM, GENERAL ELECTRIC, GENERAL MOTORS, GOLDMAN SACHS, GOOGLE, GROUPON, H & M, HSBC HOLDINGS, HSBC-HK, HUTCHISON, IBM, ING GROUP, INTEL, JAKARTA SE, JOHNSON & JOHNSON, JP MORGAN CHASE, KING DIGITAL (CANDY CRUSH), KOSPI, LAS VEGAS SANDS, LINKEDIN, LLOYDS BANK, LUKOIL RS, MASTERCARD, MAZDA MOTOR, METRO AG, MICRON, MICROSOFT, MCDONALD’S, NETFLIX, NIKE, PETROBRAS, PFIZER, PING AN INSURANCE, PROCTER & GAMBLE, RIO TINTO, RIO-AU, ROSNEFT, RTS FUTURE, RUSSELL 2000, S.BANK INDIA, SALESFORCE.COM, SANDISK, SAP, SAUDI REFINERIES, SBERBANK, SEARS HOLDINGS, SIEMENS AG, SINA, SONY, STARBUCKS, SUMITOMO MITSUI, TATA MOTORS, TATA STEEL, TEL AVIV 25, TELEFONICA, TENCENT HOLDINGS, TESCO, TESLA MOTORS, TEVA.TA, TOPIX 100, TOSHIBA CORP, TOYOTA (US), TWITTER, UNICREDIT, VODAFONE, VOLKSWAGEN, VOLVO, WAL-MART, WEIBO, WESTPAC, WYNN RESORTS, YAHOO, YANDEX N.V
Forex Pairs: AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/NZD, EUR/RUB, EUR/USD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/USD, NZD/JPY, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/MXN, USD/RUB, USD/TRY, USD/ZAR
Commodities: COFFEE, COPPER, CORN, GOLD, OIL, PLATINUM, SILVER, SUGAR NO. 11, WHEAT
Indices: ASX FUTURE, BOMBAY SE, CSI 300, DAX, DAX FUTURE, DOLLAR INDEX F., DOW, DUBAI, EURO STOXX 50, EURO STOXX 50 F, FTSE 100, FTSE FUTURE, FTSE MIB FUTURE, GERMANY 10YR BOND, HANG SENG, HANG SENG F. HSI, IBEX, IBEX FUTURE, KUWAIT, MICEX, NASDAQ, NASDAQ FUTURE, NGAS FUTURE, NIFTY FUTURE NIFTY, NIKKEI 225, NIKKEI FUTURE, S&P 500, S&P FUTURE, SHANGHAI COMPOSITE, SMI FUTURE, SSE180, TADAWUL, TNA-LONG X3, TSX 60, TZA-SHORT X3 CTG, U.S 10 YEAR NOTE, U.S 30 YEAR NOTE
Pairs: AMAZON VS EBAY, AMAZON VS NETFLIX, APPLE VS AMAZON, APPLE VS GOOGLE, BARCLAYS VS LLOYDS BANK, BMW VS DAIMLER, CITIGROUP VS AIG, CITIGROUP VS JP MORGAN CHASE, DAX F VS FTSE F, FACEBOOK VS TWITTER, GOLD VS OIL, GOLD VS SILVER, GOOGLE VS BAIDU, GOOGLE VS FACEBOOK, LINKEDIN VS FACEBOOK, LINKEDIN VS TWITTER, MAZDA VS TOSHIBA, NASDAQ VS APPLE, NIKKEI 225 VS TOSHIBA, NIKKEI VS SUMITOMO MITSUI, RIO-AU VS BHP-AU, S&P 500 F VS NASDAQ F, SIEMENS VS E.ON, STOXX 50 F VS FTSE F, VOLKSWAGEN VS DAIMLER
The pairs options is a great investment opportunity provided by 10Trade, along with a chance to trade some of the leading stocks, commodities, indices, and FX currency pairs in the market. For the informed trader, 10Trade does indeed provide an outstanding array of financial assets for binary options trading.
10Trade Binary Options & Their Payouts
10Trade enables its clients to invest in almost all popular binary options products that are available in the market. The regular Digital Options for high/low are binary options that expire within 15 minutes and qualify for a maximum payout of 81%. The ROI for different pairs and options may vary according to the asset chosen by the trader, but 10Trade does provide a basic ROI of 70%-81% throughout its traditional binary options. 10Trade has provided different types of the traditional high/low trading options, typically long-term, short-term (60 secs), Ladder, and One-Touch options.
The One-Touch options are more profitable when compared to the traditional options, as one-touch options can provide up to 500% ROI on specific assets. The one-touch options are more suitable for traders that have more experience in the markets, as it takes an incredible amount of skills to read the market conditions to succeed in one-touch options. If you are a beginner trader, you should try to get familiar with the regular binary options, and choose one-touch and other similar options only if you are more aware of the market dynamics.
The ROI for the one-touch options is representative of the highest payouts offered by other brokers in the market, but the payouts for the regular or classic options are slightly lower. Traders can achieve a consistent payout of 85% from other brokerages, with some brokers even offering the promise of up to 95% for in-the-money trades. Regardless, 10Trade does have a prominent feature in its arsenal, as traders can indeed qualify for a 10% refund on select binary options for out-of-the-money trades. The refund option is not available with all brokers, which is why 10Trade may be able to offer a slight edge over the other mainstream binary options companies.
Traders also have the option of modifying their positions with double-up and rollover options. The double-up is quite simply a doubling up feature that enables a trader to continue investing in a position to extend the profits if the market looks favourable. The rollover, on the contrary, is a stop loss strategy employed by traders to prolong their expiry times if the market is not conducive to their position. The ability to modify positions may involve additional costs, and can only be performed 10 minutes prior to the expiry of the option.
10Trade Platforms & Investment Position Sizing
10Trade trading does not require any downloads or massive computing resources, as all trading activities are carried out through a browser-based trading platform. The 10Trade trading platform is based on a third-party trading interface known as SpotOption, which is fairly popular in the binary options trading community. The SpotOption is renowned for its strong trading, performance, and range of options available during most market hours. Traders only need to point their web browser to the online platform, and they are offered complete access to the markets through a state-of-the-art interface that is easy to learn and use. The great advantage of the online 10Trade platform is that it can be accessed on any device, both desktop and mobile.
The minimum investment for opening a trade at 10Trade is $10. There is also a maximum limit of $1500, but the broker may raise this ceiling for larger traders. The minimum and maximum investments are in line with the market standards, but we would have liked the broker to offer a trading platform that had an option of a minimum investment of $1. 10trade is indeed a suitable brokerage for smaller traders and is partly helped by a fantastic trading platform that offers a reliable trading environment for all traders.
10Trade Mobile Trading
One of the major gripes that we have with 10Trade is the lack of availability of mobile trading apps, especially for iOS and Android users. 10Trade has not provided any dedicated mobile trading interfaces for any of its mobile users, which is a serious concern for a fair share of 10Trade users. The broker has taken advantage of the 10Trade web-trading interface’s scalability and responsive layout to provide mobile trading services through the device’s browser. All smartphone and tablet users will have to access their trading accounts through the 10Trade browser platform, but it does not minimise any trading features or reduce the opportunity of trading the wide variety of options.
10Trade Minimum Deposit & Payment Methods
The broker has specified a low minimum deposit of €200 or $200, which is less than the $250 mentioned by other brokers. However, the lower investment only qualifies for a very basic account that does not offer any features or advantages by way of training, bonuses, or other account benefits. To take undue advantage of the 10Trade binary options services, traders are required to deposit a minimum of €500 for the Welcome account. The Welcome account offers a basic platform tutorial, daily market reviews, and a digital online eBook, along with two weeks access to Trading Central.
The Bronze account offered for traders with a higher minimum investment of €1000 provides access to one trading strategy, one month access to Trading Central, and introduction to market analysis. The Silver account that is available for €2,500 provides more account features such as three months access to Trading Central and two trading strategies, on top of the Bronze account features. The Gold account is the more premium account category with a minimum investment requirement of €5000, while the Platinum account is reserved for VIP traders with a minimum deposit of €10,000. The Gold and Platinum accounts get six months and one year Trading Central access, respectively, while the Platinum account holders enjoy even more advantages such as express withdrawals, money management training, and an optional tablet.
For a personalised account for traders that are willing to deposit more into their 10Trade account, the broker offers the Presidential account option for more account benefits and features. 10Trade’s funding options are quite extensive, but the broker hasn’t bothered to add some of the most popular payment methods such as Skrill and Neteller to its account financing options. Regardless, traders can deposit and withdraw money through Visa, MasterCard, CashU, WebMoney, Bank Wire, Paysafecard, and other payment options as provided in the company’s alternate payment methods page.
10Trade allows its traders to withdraw amounts as low as $30 through card payments, and as low as $100 via wire transfer. Card payments and wire transfers are the only two withdrawal options for traders. The broker charges a minimum fee for all withdrawals that are categorically mentioned in the broker’s official withdrawals page. Traders will be disappointed that even though the broker accepts multiple payment options for deposits, the withdrawal options are just limited to card and wire transfer.
10Trade does not provide any bonus to its European clients, mainly due to the CySEC and EU regulations that prohibit brokers from providing any free money to its clients. EU regulations also specifically warn companies against offering any type of promotions that may lead to a conflict of interest between traders and the broker. 10Trade my provide bonuses ranging from 20% to 50%, depending on the initial deposit. However, according to a recent statement by the company, it may be difficult to avail bonuses from any broker that is situated in the EU.
10Trade Demo Accounts
10Trade does not offer a ready-made demo account to its traders, and it is strange for a regulated binary options broker not to offer a virtual practice account to its clients. However, the good aspect of regulation is that 10Trade may provide a demo account to its traders, provided they are willing to get in touch with the customer service department and negotiate better terms and conditions for trading. It is up to the discretion of 10Trade to offer a demo account, but traders should be able to avail this option without much trouble.
10Trade Customer Service & Complaint Resolution
10Trade is a regulated company that follows all the EU laws that apply to financial companies that deal with investments. Traders can contact the 10Trade customer service department through live chat, email, web contact form, and telephone numbers to its various representative offices throughout the EU and the world. However, if a trader feels that he/she has been mistreated by the company, the trader is free to contact the financial ombudsman service or take the matter to court for complaint resolution. Having the ability to hold the broker accountable for its actions is perhaps one of the main advantages of trading with a regulated company.
10Trade Learning Resources
10Trade follows along the lines of other binary options brokers that provide customised training to larger account holders. The more a trader deposits into his/her account, the better access to trading resources. Nevertheless, traders do get access to Trading Central, which is a great third-party option for analysing the markets. Traders are also treated to daily market analysis, eBook, and other training materials that cover the entire binary options market.
- An EU regulated broker located in Cyprus.
- Customer service channels are among the best in the industry.
- Greater security of funds.
- Extensive choice of financial instruments.
- The bonus is not available to all traders due to CySEC regulation.
- No dedicated mobile trading apps.
Is 10Trade A Scam?
10Trade is a CySEC regulated binary options broker and follows all EU guidelines for safe operations. 10Trade is not a scam broker.
Can I Deposit/Withdraw Through Online Wallets?
10Trade offers multiple deposit options which include e-wallets, but withdrawals are only available through card and wire transfers.
How Can I Open An Account?
You can open an account by registering with an email address. You can start trading as soon as you make your initial deposit.