Is 10Brokers Scam or Legit Broker?

It is not safe to trade with 10Brokers. The broker is suspected to be a scam. 10Brokers states to be located in Estonia, however, it is not registered with the local financial authority, which makes the broker's offerings untrustworthy.

  • It is not advisable to sign in with unregulated or offshore brokers, as very often they turn out to be scams, causing traders to lose their investments. 

About 10Brokers
🗺️ Registered inEstonia
🗺️ Type of LicenseNo License
🛡️ Is 10Brokers safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerGO Markets - licensed by ASIC in Australia

What is 10Brokers?

10Brokers is a broker that offers to trade with such assets as Forex, CFD, commodities, indices, and cryptocurrencies. The company is owned and operated by Euro Wealth OÜ that claims to be based and registered in Tallinn, Estonia.

  • However, we didn't find any records of 10Brokers being regulated by the Estonian Financial Supervision Authority (EFSA). Although, the broker has actually been mentioned in the regulator's records, unfortunately, those are the broker alerts and warnings:
    "Finantsinspektsioon (the Estonian Financial Supervisory Authority) would like to inform clients and investors that Euro Wealth OÜ (previous business names AllProTech OÜ and Nostro Technology OÜ; registry code 14183116) does not hold an activity licence for the provision of investment services in Estonia and therefore AllProTech OÜ is not authorised to provide investment services in Estonia. The company offers the possibility to trade different derivatives through web page"
  • There is a big confusion with the names of the owner-companies of the 10Brokers, as we found at least 5 names that were associated with the broker this year. EFSA has already stated that Euro Wealth OÜ was previously named as AllProTech OÜ and Nostro Technology OÜ and these two companies were blacklisted as well.
  • Also, KHO TEHCH Ltd. and FGM Technology Ltd were appearing next to the broker's name. In addition, FGM Technology Ltd. (trading as 10Brokers) have been blacklisted by the UK's FCA in June 2018:
    "FGM Technology Ltd trading as 10 Brokers is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation."

10Brokers - official website10Brokers Review Conclusion

Considering all the cons of the broker, we don't recommend trading with 10Brokers. Investing with a properly regulated broker is crucial for the safety of any investment. Here are some reliable regulators: UK’s FCA, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC). Traders should trade with well-regulated brokers such as FBS and BlackBull Markets.

10Brokers Update

We found that the 10Brokers website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals. 

No news available.

2 responses to “10Brokers”

  1. Don’t think you will. I was cheated with USD1,700 in November 2017, and still regret it till today. I borrowed the money on my credit card. It was a very expensive lesson.
    Beware someone named Daniel McDugall phoned me again yesterday to “try to recover my money” because the company is closing down. But you must put in more money to get your own back.
    Be very careful! Telephone no from Cape Town 021 020 3404

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