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Is 10Markets Broker a Scam?

  1. 10Markets

    10Markets present itself as forex and binary options broker. This brokerage company is owned by Badale Investments; Scotland, UK.

    In this broker guide for South African traders, we will provide more thorough information about any possible 10Markets scam as well as what is their withdrawal procedure.

    10Markets broker review informed us how they obtain regulation from Vanuatu Financial Services Commission (licence no. 14692).

    Also, this broker provides binary trading platform which is fully in accordance with high safety standards of KYC Policy and Anti Money Laundering policy. Such info help traders to realize is there really any 10Markets scam or are they a legit binary options broker.

    Information such as this is very valuable for all the traders who want to trade binary options with 10Markets. It shows how clients’ trading accounts will be verified in the very beginning of the binary options trading process.

    Their entire site is equipped with numerous information, such as FAQ, explanation of trading tools security of trading platform and many more. If traders are in a search of getting an assistance, they can simply ask customer support service which is available 24/7.

    Traders in South Africa might wonder will their funds be safe with 10Markets broker. According to our review, we came across info how they use SSL (Secure Sockets Layer) technology which provides higher level of security standards since it encrypts personal and financial data of registered traders.

    This shows how all financial transactions must go through licensed payment processors which are well secured. So far, we haven’t noticed any 10Markets scam activity due to very informative site and easy to use trading platform.

    How to Login on 10Markets Platform?

    To use this platform and trade binaries, South African traders are required to complete registration first.

    There are few type of information traders need to provide such as: country of residence, first and last name, email, phone number and password.

    Once registration is completed, South Africans will get access to the trading platform.

    For those traders who are already registered, they only have to click on 10Markets login button by providing email and password to enter the platform.

    With 10Markets broker, South African traders are able to practice trading on demo account as well as choose a preferred live trading account from several available.

    This broker is connected with one of the best reviewed automated robots on South African market – Binary Options Robot.

    A great novelty which we noticed with this broker is that they enable traders to experience several different ways of online trading, including CFDs, binary options and forex.

    Once traders are logged in to 10Markets, they are able to trade on MT4 platform and try out unique trading types, such as automatic and manual mirror trading. What this basically means is very much alike copy trading where traders can mirror strategies of other successful binary options traders.

    10Markets Withdrawal Process

    As we have stated in the beginning of this broker guide, 10Markets pays attention into providing a high safety standards, which include SSL encryption and PCI compliance. These information we received on their platform under Safety & Security tab.

    Concerning 10Markets withdrawal, South African traders have several options available, such as payments via credit cards, bank wire transfer and e-wallet providers (iDeal, Yandex.Money and WebMoney).

    The initial step to get the funds back in 10Markets withdrawal is to submit this broker a withdraeal request. It usually takes between 2- 5 working days for 10Markets to process the request and approve it if all documents are correctly submitted. They include: copy of ID card, credit card copy and proof of residence.

    So far, we haven’t noticed that they require from South African traders to pay any withdrawal fees, which can definitely be seen as an advantage.