- Types of accounts
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TenkoFX is a legally registered Forex broker founded in 2012 and located in Saint Kitts and Nevis. TenkoFX accepts clients from all over the world, with the exception of the USA and some countries where restrictions apply.
Is TenkoFX a regulated broker?
TenkoFX is a global CFD and Forex service provider based in Saint Kitts and Nevis, a traditional offshore jurisdiction in the Caribbean. Thus, the broker is not regulated by any government agency, which may seem like a problem for those who want to deposit a lot of capital.
What is the maximum leverage in TenkoFX?
The leverage offered by this broker is quite high - up to 1:500 on the most liquid currency pairs, such as EURUSD. However, for cryptocurrency CFDs, the maximum leverage is only 1:3, which corresponds to the industry standard for this type of asset.
TenkoFX offers a wide range of assets for trading, including a fairly large selection of more than 30 different CFDs on cryptocurrencies, several major stock indices, precious metals and energy carriers such as oil and natural gas. In addition, the broker offers more than 50 currency pairs for those who want to trade on Forex.
However, TenkoFX does not offer stock CFDs for trading. Therefore, this broker may not be the most suitable choice for traders interested in trading on the stock market.
As for trading platforms, TenkoFX decided to focus exclusively on the classic MT4 platform. This is a trading platform that, despite the fact that it was released back in 2005, is still one of the most popular platforms today, largely due to the ability to use their own indicators and Expert Advisors.
What types of accounts does TenkoFX offer?
TenkoFX offers three types of trading accounts:
- STP. Classic floating spread account with no commission.
- ECN. ECN is an account with narrow spreads and a commission of $4 per lot.
- Crypto. Cryptocurrency account with 0.5% commission and 1:3 leverage.
In addition, TenkoFX provides a PAMM service that allows traders to earn on commissions, even without having a lot of capital, and investors without Forex trading experience. At the time of writing the review, the broker offers investments from $ 500 to $ 1,500 to managing traders with an active trading history on myfxbook.com over 6 months and a maximum drawdown of no more than 30%.
If no trading operations have been carried out within 90 days, TenkoFX charges a monthly commission of $ 10 from the client for maintaining an inactive account, if funds are available on the account.
What is the minimum deposit in TenkoFX?
Trading accounts in TenkoFX can be replenished either by bank transfer, or standard debit and credit cards (Visa, MasterCard and China UnionPay), as well as electronic wallets FasaPay, AdvCash, Perfect Money, QIWI. In addition, this broker accepts cryptocurrency deposits in BTC, ETH, LTC, BCH and USDT. The minimum deposit is only $10.
TenkoFX regularly holds contests with real cash prizes, offers a loyalty program with a return of the spread for novice traders and discounts on commission when replenishing an ECN account from $ 1000.
TenkoFX offers many features that are usually found only with large and regulated brokerage companies, despite the fact that it is unregulated and based offshore. The advantages of this broker include high leverage, a large selection of cryptocurrencies for trading, the availability of its own PAMM service and the ability to replenish the account using cryptocurrencies.
Before choosing a broker, we recommend that you read the reviews of TenkoFX, as well as see our rating of Forex brokers.
|General information of TenkoFX|
|Year of foundation||2012|
|Headquarters||Saint Kitts and Nevis|
|EURUSD Spread||0.9 pips|
|Basice currencies||USD, EUR, RUB, JPY, BTC, LTC, ETH|
|Assets||Currency pairs, indices, metals, cryptocurrencies|
|Deposit replenishment||BankTransfer, Visa/MasterCard, FasaPay, AdvCash, Perfect Money, QIWI, BTC|
|Payment for inaction||+|
- The year of Foundation 2012
- Head office address Corner of Jews Street & Marion Avenue, Ramsbury Site, Charlestown, Nevis
- Maximum leverage 1:500
- Min. Deposit $10
- Trading platform
- Payment system to enter Bank Transfers, Debit/Credit Cards , Chine UnionPay, FasaPay, QIWI, Perfect Money
- Payment system for withdrawal Bank Transfers, Debit/Credit Cards , Chine UnionPay, FasaPay, QIWI, Perfect Money
- Number of trading instruments 50
- The number of CFD instruments 40
- The number of metals 2