Is 10Markets Scam or Legit Broker?

10Markets broker is a Non-Regulated Broker. It is NOT SAFE to trade with this company. We have checked the company and there is no authorization or registration of the address, therefore the company seems to be highly suspicious and might operate its services from an absolutely different location.

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

What is 10Markets?

10Markets is a Forex and CFD broker. There is no information about the company’s location as well as the decent regulation. The phone numbers provided on the website have South African, Serbian and Russian country codes, so we can only guess where the broker is based.

  • The firm is licensed by the Vanuatu Financial Services Commission. Vanuatu is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial established capital which is $2,000 only, to pay a fee, and within 2-3 month, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers such as JustProForex, SmartFX and more.
  • As to the broker’s VFSC license, from our source, it costs €24,000 per year to become a member. However, there is no handbook or guidelines for brokers to run their business. Therefore, there is zero protection for traders. We have a detailed article explaining the risk of trading with brokers from Vanuatu.

10Markets Review Conclusion

We advise all investors and traders to avoid 10Markets and other brokers from Vanuatu. It is only reliable to trade with well-regulated brokers such as UK brokers or brokers in Australia and trustworthy brokers such as BDSwiss and BlackBull Markets.

10Markets Update

Our findings showed that 10Markets is no longer active. The broker’s website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.

No news available.

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