10Trade Review
| Broker | 10Trade |
|---|---|
| US Traders Accepted | |
| Company Name | Holiway Investments, Ltd. |
| Headquarters | Nicosia, Cyprus |
| Regulation | CySEC (license #248/14) |
| Bonus Type | Match bonus |
| Bonus Size | 60% |
| Max Payout | 81% |
| Out-of-Money Reward | 10% |
| Trading Platform | SpotOption |
| Deposit Options | Credit/debit cards, wire transfer, CashU, WebMoney, paysafecard, Abaqoos, AstroPay, Bank Link, BankLink UNET, Boleto, DineroMail, eCard, eKonto, ePay.bg, EPS, Euteller, Giropay, Hal-Cash, iDEAL, Lobanet, Mister Cash, Moneta, Multibanco, Neosurf, PayU, POLi, POLi NZ, Przelwy, SafetyPay, SOFORT, SporoPay, Teleingreso, Ticket Surf, Todito Cash, TrustPay, UseMyBank, Yandex.Money, QIWI |
| Deposit Currencies | US dollar, euro, British pound, Australian dollar, Canadian dollar, Swedish krona, Russian ruble |
| Minimum Deposit | $200 |
| Minimum Trade | $10 |
| Maximum Trade | $1,500 |
| Online Since | 2014 |
| Trading Instruments | Currencies: AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, Bitcoin/USD, CAD/JPY, EUR/DKK, EUR/GBP, EUR/ILS, EUR/JPY, EUR/NZD, EUR/SEK, EUR/TRY, EUR/USD, GBP/AUD, GBP/CHF, GBP/JPY, GBP/NZD, GBP/USD, GOLD/TRY, Gold/EUR, NZD/CAD, NZD/CHF, NZD/JPY, NZD/USD, USD/BRL, USD/CAD, USD/CHF, USD/DKK, USD/HKD, USD/ILS, USD/INR, USD/JPY, USD/NOK, USD/RUB, USD/SEK, USD/SGD, USD/TRY, USD/ZAR Commodities: Coffee, Corn, Gold, Oil (Light Sweet Crude), Platinum, Silver, Sugar, Wheat Stocks: 3M, AGRI' BANK OF CHINA, AIG, ALIBABA, ALPHA NATURAL R., AMANA, ANZ Bank, APPLE (US), ARABIAN PIPES COMPANY, Allianz SE, Amazon, Axis Bank, BAE SYSTEMS (LONDON), BANK OF CHINA, BARCLAYS, BEZEQ, BHP Billiton, BMW, BNP Paribas, BP (BRITISH PETROLEUM), Baidu, Banco Santander, Blackberry, Boeing, British American Telecom, CARLSBERG B, CHINA LIFE INSURANCE, CHINA MOBILE, CHINA TELECOM, CITI (US), CNOOC, COCA COLA (US), CTC MEDIA, Caterpillar, DANSKE BANK, DELL, Daimler AG, Danone SA, Deutsche Bank, Deutsche Telekom, Disney, Ebay, Exxon Mobil, F5 Networks, FIAT, FORTESCUE METALS, Facebook, Freeport McMoran, GAZPROM (RUSSIA), GOME, GOOGLE, General Motors, Goldman Sachs, Groupon, HITACHI CORP, HSBC HOLDINGS (LONDON), HUTCHISON, IBM, ICBC BANK, ICL.TA, JOHNSON & JOHNSON, JP Morgan Chase, KEC (SA), KING DIGITAL (Candy Crush), LEUMI, LOUIS VUITTON, LUKOIL (RUSSIA), Las Vegas Sands, Linkedin, MANCHESTER UNITED, MAZDA MOTOR, MECHEL OAO, MICROSOFT (US), MOBILE TELESYSTEMS, MOELLER MAERSK B, Mastercard, McDonalds, NATIONAL BANK AUSTRALIA BANK, NEWCREST MINING, NIKE (US), NIPPON STEEL, NISSAN MOTORS, NORDEA BANK, NOVO NORDISK, Netflix, ORANGE S.A., ORIGIN ENERGY, PETROCHINA-SHG, POALIM.TA, Paris Telecom, Petrobras, Pfizer, Publicis Groupe, RENAULT, REUTERS (US THOMSON REUTERS), RIO TINTO, RIO-AU, ROLLS ROYCE (LONDON), ROYAL MAIL, S Bank India, SAB Miller, SAMSUNG-KR, SAP, SAUDI REFINERIES, SBERBANK (RUSSIA), SHADCO, SINA, SONY, Salesforce.Com, Sears Holding, Siemens AG, Starbucks, TATA MOTORS (INDIA), TENCENT HOLDINGS, TESCO, TESLA MOTORS, TEVA .TA, TOSHIBA CORP, TSK60, TURKCELL (TURKEY), Tata Steel, Telefonica, Total S.A, Twitter, Unilever, VALE.BSP, VIMPELCOM, VIVENDI SA, Vodafone, Volvo, WAL-MART, WEIBO, WOODSIDE PETROLEUM, WOOLWORTHS, Wynn Resorts, YAHOO, YANDEX N.V Pairs: AMAZON VS EBAY, AMAZON VS NETFLIX, BMW VS DAIMLER, BMW VS RENAULT, DAX VS CAC 40, FACEBOOK VS TWITTER, FTSE VS CAC F, GOLD VS OIL, GOOGLE VS BAIDU, GOOGLE VS FACEBOOK, LINKEDIN VS TWITTER, McDONALD'S VS STARBUCKS, RIO T. VS. BHP B., VODAFONE VS ORANGE |
| Number of Trading Instruments | 237 |
| Binary Option Types | High/Low, Pairs, Long Term, 60 Seconds, One Touch, Ladder |
| Customer Support Types | Email, phone (local numbers available), paper mail, live chat |
| Education Offered | FAQ, glossary, how-to pages, education center with videos and an eBook. Trading strategies for upper account holders, as well as VIP access to the online trading academy |
| Tools Offered | Double up, rollover, early close, daily and weekly market reviews |
| Commission | $30 for wire transfers (one free wire transfer per month) |
| Languages | English, French, Arabic, German, Italian, Spanish, Russian, Dutch |
| Demo Account | Yes |
Traders in search of a regulated binary options broker with a lot to offer will want to take a look at 10Trade. 10Trade was founded in 2014 in Nicosia, Cyprus, by a company called Holiway Investments, Ltd. 10Trade operates under CySEC license #248/14. As such, they unfortunately do not accept traders from the USA, but they may be a great choice if you are located internationally.
Getting Started Is Easy
In fact, 10Trade goes out of their way to make their services easily accessible to anyone. The website is available in a number of different languages, and you can opt to trade in a number of different currencies as well, including US dollar, euro, British pound, Australian dollar, Canadian dollar, Swedish krona, and Russian ruble. On top of that, they accepted a huge range of deposit methods. There are literally dozens of e-wallets accepted, more than I have ever seen at any other binary options website.
The minimum deposit is $200, which is quite standard. Withdrawals are very easy and the terms surrounding them are quite reasonable. The website does not mention any minimum withdrawal threshold, which makes for great flexibility. There are fees for wire transfers ($30), but you get one free wire transfer each month, which is quite generous.
There are a number of account tiers starting out at $1,000. At the Bronze level, you are eligible for a 5% bonus. The next tier up is Silver, then Gold, and then Platinum. The highest bonus you can get is 60% of $10,000 or more at the Platinum level. There is also an option for a Presidential account, beginning at $50,000. These are for VIP customers with huge bankrolls to work with.
If you want, you also have the option of opening a demo account. This is not advertised on the site, but it does exist. You can practice with a demo account after you register, even if you have not yet made a deposit. You simply need to make a request with an account manager. There are no strict limitations on this account. Your account manager will work with you directly.
Basic educational resources on the site are pretty minimal. There is an education center, but you will only find a few videos on there and an eBook. If you have a higher account tier, you can gain VIP access to the education center, which presumably means that you can access more training materials. You can also work with an expert trader to learn trading strategies.
Trading on 10Trade
Once you have made a deposit and are ready to trade live, you can head over to the trading page. This platform is SpotOption, which is probably familiar to you if you have traded on other binary options sites. You can trade on your mobile device if you want; scroll to the bottom of the page and you will find the links for the Android app. The list of currencies, commodities, indices, and stocks you can trade is tremendous. There are 237 in all, which is a much higher amount than the usual 80 to 150 or so that other binary options sites typically offer.
Variety of trade types is also pretty good; you can trade standard High/Low binary options, but you also can try your hand at 60 Second or Long Term options, as well as One Touch, Pairs, and Ladder trades. The minimum trade amount for most of these types of trades is just $10, with the ceiling set at $1,500 (that is from the platform; the FAQ incorrectly lists $5,000). So whether you have a large or small account, you should be able to trade on this site while conservatively managing your bankroll.
Customer Service on 10Trade: A Mixed Bag
If you wish to talk to a member of the 10Trade customer service team, you can access their 24/7 customer service via live chat or telephone. There are a ton of local numbers, so no matter where you are around the world, you can probably find a number which will not charge you an international rate. You can also reach out via email.
I opted to test out the live chat desk. The desk was answered promptly by an agent, and I asked my questions. At first, she seemed intent on putting me off, telling me repeatedly that I must talk to an account manager if I wanted information about bonuses and tiers. I still think that this was rather silly, because that information should be easily accessible on the site without even needing to ask for it.
She did however take the time to thoroughly answer my questions about the demo account and how it worked. Therefore I cannot say that the customer service was altogether useless. She was quite helpful in some regards while being quite unhelpful in others. This indicates that 10Trade as a company may be something of a mixed bag to deal with. I have seen better, but I have also seen far worse.
Conclusion: Worth Considering
10Trade is not a faultless broker. I would have preferred a more helpful customer service agent who was a little more committed to answering my simple questions, and I would really have preferred to find that information on the website. Aside from this point, there really is very little to complain about however, and there is a lot to commend the site on.
Why consider trading with them? They seem to be a broker that aims for flexibility. You can deposit money in a myriad different ways, and withdrawing money is affordable and easy. You can trade on a desktop, laptop, or mobile device. You can choose from any of more than 200 assets, and there are a variety of trade types and expiry times available. And on top of all that, you are dealing with a company which is regulated by CySEC, which instantly boosts trust. If you are trading outside the USA and looking for a regulated broker with a lot of excellent features, check out 10Trade.