Tenko FX Review

Is Tenko FX Scam or Legit Broker?

Tenko FX is not safe to trade with. The broker is suspected to be a scam. Although the broker states its years of experience and favorable conditions, it does not provide any information about registration.

• In Forex trading it is essential to trade with only a reliable broker with tight regulations. In the case of Tenko FX, it seems the broker does not hold any license from top-tier authorities. This means, that traders’ investments are not protected, and by signing with Tenko FX clients might put their trust only in the broker’s words.  

What is Tenko FX?

On its website, TenkoFX states that it provides access to both the Forex market and CFD commodity markets with a focus on delivering flawless and instant deal execution for optimal trading outcomes. The broker also operates as an ECN broker with direct access to the interbank market and executes orders via Market Execution mode, where clients' transactions are processed by other traders, banks, and funds. Also, the broker mentions how important are reliability, tight regulations, and transparency. Since its foundation, it has tried to deliver great services to its clients.

• However, the broker has evidently issues with safety and regulations. Brokers that have licenses from top-tier regulatory bodies, always mention this fact as in Forex trading safety of funds goes first. This is not the case with  TenkoFX, as there is hardly any mention of regulation on the broker’s website.
• Instead, visitors of the website can only find the provided address and company number (Tenko Systems Limited (Сompany No. C 49112), Nevis, Charlestown, Corner of Jews Street & Marion Avenue, Ramsbury Site). Apparently, Nevis is an offshore location that does not provide sufficient protection to the financial companies registered there.
• We strongly recommend choosing a reliable broker with tight regulations, favorable conditions, and years of proven experience in the market.
• On the other hand, based on our investigation, the Tenko FX reviews from traders are mostly positive. Very rarely there are problems with withdrawal or other issues, yet mostly the impressions are good. Thus, it is necessary to mention, that not all unregulated brokers are scams. There might also be good brokers with favorable offerings. However, signing with brokers such as Tenko FX, traders rather trust the broker’s word and reviews from other clients, still being unprotected legally.

Overall Tenko FX Ranking

Taking into account our findings relating to safety and regulations problems with Tenko FX, we do not rank positively Tenko FX, based on our Expert Opinion with over 10 Years of experience in Forex Trading due to its lack of regulation and numerous negative reviews from traders.

• Tenko FX Overall Ranking is 4 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Tenko FX Alternative Brokers

Taking into account our revelations of Tenko FX reliability and regulations issues, here are much better Alternatives to Tenko FX with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below:   

• FP Markets – Powerful trading technology and ECN environment
• InteractiveBrokers – Good for Trading Real Stocks
• XM – Wide Range of Trading Opportunities

Deposit & Withdrawal

Tenko FX states about its easy and effortless deposits and withdrawals. The range of options and terms is regularly updated by the broker. Besides, Tenko FX covers money transfer costs if any, and does not charge more than the cost to the company.

• Withdrawals are processed on working days (Mon - Fri - 9:00 am to 9:00 pm, GMT+4). The delivery of funds to the client’s bank account depends on the transfer method.
• Deposits and Withdrawals are processed through Bitcoin, BitcoinCash, Litecoin, and Ethereum.

Tenko FX Review Conclusion

Being an unregulated or an offshore broker does not mean that the broker is a scam. Our revelations showed that TenkoFX is a broker with good offerings, and the reviews of traders are also rather good. Still, many brokers with offshore registration are not trustworthy, and signing with them might result in risking your investments. We recommend well-regulated brokers with UK’s FCA or Australian ASIC registration. We advise signing in with reliable brokers such as AvaTrade, Interactive Brokers, and HFM.

• Overall ranking and experience for Tenko FX is Negative