A brand name of a Cyprus Investment Firm (CIF) called Holiway Investments Limited and with the CIF license number 248/14, 10Trade is a binary options broker that was founded in 2014. The broker is fully regulated by the Cyprus Securities Exchange Commission (CySEC) and is MiFID compliant. With CySEC regulatory oversight governing 10Trade, this broker is happily able to offer binary traders a safe and secured trading environment. With their advanced trading platform and high level of transparency, everyone who trades the financial markets through 10Trade will have the assurance that their money is safe with this broker.
10Trade like most binary options brokers in the industry uses a white labeled trading platform. The trading platform adopted by 10Trade is the popular SpotOption trading platform. With this trading platform, traders get to access a whole range of features which are not found on most binary options trading platform.
For example, with the SpotOption platform, traders can choose between having their price charts displayed as a line chart or candlesticks chart. The trading platform also gives traders access to a wide range of options contracts such as Pair options, Call/Put options, 60 seconds options, long term options, ladder options and One touch options. On average, the returns which you can hope to expect at 10Trade are a decent 80% return.
Deposits & Withdrawals
To deposit money into your trading account at 10Trade, you need to make sure you are depositing a minimum of $200 through credit card or $500 through bank wire transfer. Transfers can be made In a variety of payment methods including credit/debit cards, bank wire transfer and web wallets such as Neteller, Skrill, CashU and iDeal. For withdrawals, the minimum amount that can be withdrawn is $10 for credit cards and $100 through bank wire transfer. Processing and completion of the entire withdrawal process takes between 8 to 10 business days. No withdrawal fees has been specified by 10Trade on their website.
10Trade provide traders with 5 different types of trading accounts. These include:
- Bronze Account (Min deposit € 1,000 + 5% bonus)
- Silver Account (Min deposit € 2,000 + 10% bonus)
- Gold Account (Min deposit € 5,000 + 4% bonus)
- Platinum Account (Min deposit € 10,000 + 60% bonus)
- Presidential Account (Min deposit € 50,000 + major benefits)
Customer Support & Education
Like other binary options brokers, 10Trade’s customer support is available 24 hours a day 7 days a week. The best part about their support service is that it is provided in several major languages. Contacting the support team can be done through email, live chat and over the telephone.
In terms of the quality of the trader’s education, we were quite impressed with the quantity and quality of their education center. They have training courses for beginner and experienced traders which cover the basics as well as advanced trading techniques. An ebook is also available for download.
One of the most unique features about 10Trade’s trading platform is the ladder option contract. Using this type of option contract, a trader can maximize his returns on a changing trend right until the trend loses momentum. It has multiple strike prices meaning a single trading transaction can provide a trader with several wins.
From what we can observe in our review, 10Trade does offer their traders with a decent level of services. Their payout ratios are quite generous and the profits withdrawn are not subjected to any withdrawal fees. The broker is also very transparent in the way it operates and acts professionally. Most importantly of all, this broker is regulated by CySEC. Given how stringent CySEC is policing the financial services today, you can be sure that brokers like 10Trade comply with the full letter of the law. This means you can spend your time concentrating on making profitable trades instead of worrying if you get your money back.
In other words, 10Trade is a legitimate broker and not a scam. This broker is good for beginner traders because of the comprehensive trading education provided by 10Trade. At the same time, experienced traders will find that 10Trade will also be able to meet all their trading needs with the SpotOption powered trading platform.