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Danger
BZ FSC
2020-10-15
WARNING NOTICE 
TENKOFX
No Regulation
Score
1.58 /10
Danger
TENKOFX
5-10 yearsSuspicious Regulatory License
Belize Retail Forex License Revoked
High potential risk
Influence
C
Add brokers
Comparison
Expose
Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index7.53
Risk Management Index0.00
Software Index4.00
License Index0.00
Open Account
Website
Licenses
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
open now
Regulatory disclosure
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Warning: Low score, please stay away!
4
Previous Detection :
2024-11-11
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- BelizeFSC (license number: IFSC/60/349/TS/15) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
WikiFX Verification
| TENKOFX Review Summary | |
| Founded | 2011 |
| Registered Country/Region | Belize |
| Regulation | FSC (Exceeded) |
| Market Instruments | Forex, CFD commodity and cryptos |
| Demo Account | ✅ |
| Leverage | 1:500 |
| EUR/ USD Spread | From 0.1 pips |
| Trading Platforms | MT4 |
| Minimum Deposit | $10 |
| Customer Support | 24/5 - email |
TENKOFX provides access to cryptocurrency trading through dedicated crypto accounts. It also facilitates access to the Forex market as well as CFD commodity markets. Through MT4 trading platform, it provides three types of live accounts, demo and Islamic accounts with acceptable minimum deposit requirements. However, their licence of FSC has been exceeded.
Pros and Cons
| Pros | Cons |
| MT4 provided | Exceeded license of FSC |
| Demo and Islamic accounts available | Regional restrictions |
| Acceptable minimum deposits | Limited contact channels |
| Flexible leverage ratios | Complex commission item charged |
Is TENKOFX Legit?
TENKOFX claims it is regulated by the Financial Services Commission (FSC). It holds the licence types of Retail Forex License with No IFSC/60/349/TS/15. However, this license has been exceeded.
| Regulatory Status | Suspected Fake Clone |
| Regulated by | Belize |
| Licensed Institution | TENKOFX (Belize) Ltd. |
| Licensed Type | Retail Forex License |
| Licensed Number | IFSC/60/349/TS/15 |
What Can I Trade on TENKOFX?
TenkoFX offers access to the Forex market, crypto trading and CFD commodity markets.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ❌ |
| Cryptocurrencies | ✔ |
| Shares | ❌ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
TENKOFX offers three types of live accounts and demo accounts. These three live accounts conclude STP, ECM and Crypto accounts with the minimum deposits of $10, $100, and $10 respectively, which are acceptable and reasonable. Besides, the STP and ECN accounts support Islamic accounts.
Leverage
TENKOFX offers the maximum leverage of 1:500, 1:500 and 1:3 for the STP, ECN and Crypto account respectively.
TENKOFX Fees
TenkoFX offers the commissions for different types of accounts- from 15 USD for the STP accounts and 0.5% of trade volume round turn for the Crypto account.
The commission rates for different account balances are:
| Account Balance | $5 Million | $5 - $25 Million | $25 - $250 Million | > $250 Million |
| Below $1,000 | $3.50 | $2.50 | $1.80 | $1.50 |
| $1,000 - $25,000 | $2.50 | $2.50 | $1.80 | $1.50 |
| $25,000 - $250,000 | $1.80 | $1.80 | $1.80 | $1.50 |
| Over $250,000 | $1.50 | $1.50 | $1.50 | $1.50 |
For FX pairs where the base currency is not USD, commissions are stated in the base currency. For example, for the EURUSD pair, the commission would be charged in euros.
For Contracts for Difference (CFDs), commissions are dependent on account balance and are as follows for specific instruments:
UK 100, Germany 40, France 40, Europe 50, Wall Street 30, US SPX 500, US Tech 100, Japan 225, Australia 200: 0% commission across all account balances.
US Crude, UK Brent, US Natural Gas:
Below $1,000: 0.005%
$1,000 - $25,000: 0.0025%
Over $25,000: 0.0018%
Details can be learned about through: https://tenkofx.com/trading/tr_comissions/.
Trading Platform
TENKOFX facilitates their traders using MT4 to trade. Install the MetaTrader4 trading platform, simply download the setup file to your PC and run it, then follow the installation instructions. MetaTrader4 is the industry standard and its value has been consistently proven over time. It incorporates multiple trading indicators and analytical tools and allows you to automate an almost unlimited variety of trading strategies.
Customer Service
TENKOFX support 24/5 customer services via email.
| Contact Options | Details |
| Phone | ❌ |
| support@tenkofx.com | |
| Contact Form | ❌ |
| Online Chat | ❌ |
| Social Media | ❌ |
| Supported Language | English |
| Website Language | English |
| Physical Address | 27th floor, Menara TA One 22, Jalan P.Ramlee, 50250,Kuala Lumpur, Malaysia |
The Bottom Line
TENKOFX serves as forex service provider, offering regular forex business. It offers MT4 with reasonable minimum deposit and many types of accounts. It also offers many security measures. However, there are limitations that it is now under regulated status and the U.S residents have no access to trade with it.
FAQs
Is TENKOFX a good for beginners?
No. Their FSC has been exceeded and their commission items charged are complex for beginners.
What tools does TENKOFEX provide?
It provides economic calendar.
What security measures does TENKOFX have in place to protect my funds and personal information?
It provides SSL EV (Extended Validation) technology, SMS validation, and manager and investor security.
At TENKOFX, are there any regional restrictions for traders?
Yes. It does not provides services for the residents of the U.S.
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