Tenko FX Review

MIN. DEPOSIT $10
Up to 500:1
Up to $30 BONUS
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Tenko FX
Up to $30
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Overview

Company Information Tenko FX is online Forex trading broker owned by TenkoFX Limited. The company was founded in 2011, and their platform went online in 2012. The company started its… more

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Details

Broker Tenko FX
Website URL https://tenkofx.com/
Headquarters Belize City, Belize
Support Number +64 428 07 211
Support Email support@tenkofx.com
Support Types Phone, Live Chat, E-mail
Languages English, Russian, Chinese, Indonesian, Farsi
Minimum 1st Deposit $10
Minimum Trade Amount 0.01 lots
Maximum Trade Amount 1,000 lots
Bonus Up to $30
Payout Up to 500:1
Free Demo Account Yes
Regulated Yes
Regulation International Financial Services Commission of Belize
Account Types STP, ECN/PAMM
Deposit Methods Visa, MasterCard, China UnionPay, Wire Transfer, Neteller, Skrill, Qiwi, Fasapay, Bitcoin
Withdrawal Methods Visa, MasterCard, China UnionPay, Wire Transfer, Neteller, Skrill, Qiwi, Fasapay, Bitcoin
Types of Assets Forex, Currencies, Indices
Account Currency USD, EUR, IDR, INR, CENT
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Tenko FX is online Forex trading broker owned by TenkoFX Limited. The company was founded in 2011, and their platform went online in 2012. The company started its operations in New Zealand but is licensed and operates under the authority of the IFSC in Belize. The company’s headquarters are located in also located in Belize, but they have an office in the Russian Federation. Despite the short history of the company it already had many achievements. In March 2015 Tenko FX reported that the investors’ capital is already over $1.5 million. The great trading conditions are constantly improved, and the STP technology brings a seamless trading experience. With a low minimum deposit requirement and excellent trading features novice and expert traders can enjoy an excellent platform. The customer support is nothing but flawless and financial services offered are of the highest quality. Let’s see what trading account you can find at Tenko FX.

 

Trading Information

Currently, Tenko FX offers two types of accounts. The STP (MT4) account offers a low minimum deposit requirement of $10. It has variable spreads which go around 1.6 pips for majors like EUR/USD. The trading instruments you can use are currencies and gold & silver. The margin call level is set at 100% and the stop out level is at 50%. Hedging and scalping are allowed. The maximum leverage is set to 1:500.  You also have news trading, algo-trading and a swap-free (Islamic account) options. Next, is the ECN/PAMM (MT4) account option. It has a $100 minimum deposit requirement and also offers variable spreads. They can go as low as 0.1 pips but usually, go around 0.3 pips for majors. It has a commission fee of $1.2 per lot or $18 per 1 min. Trading instruments here are currencies, gold & silver, crude oil, indices and natural gas. Maximum leverage here is 1:200 and the margin are from $5. It also provides a swap-free version and automated trading options.

Trading Platforms

The platform that the people from Tenko FX have chosen is the popular Metatrader 4. It’s undoubtedly the most popular platform in the online trading world. It has been used by most traders and brokers for over a decade now and has been proven to be the most stable and user-friendly platform around the globe. With tons of features like one-click trading, chart trading, signal trading, streaming news, mobile trading and real-time data feed it usable for both beginner and expert traders. It hasn’t been plagued by any bugs for now, and you can rarely experience any problems with it while trading. What’s best about it is that it works on every computer device on the market. You can use it with Windows or MAC desktop computers or install it on your Android or Apple device. Despite its outdated graphics and the existence of a new version (the MT5) the MT4 is still a suitable and preferred choice for many traders. The only thing that is lacking is the possibility of browser and mobile browser trading. Some of the newer platforms (like cTrader) offer this feature, but there is only a small amount of brokers that have an MT4 WebTrader platform. Tenko FX also doesn’t have it, so you’ll have to download and install the software on your device.

 

Security and Customer Services

Security at Tenko FX is at a very high level, and you can easily see that from the SSL encryption protocol installed on their website. It protects all the sensitive personal data and makes it available only to the company’s employees (like it’s supposed to). Also, your funds will be deposited in a segregated account in a top tier bank. What this means is that if anything happens to the company’s funds your will be safe. The customer support at Tenko FX is superb and above standard. Usually, most online brokers offer 24/5 customer support, and the people from Tenko FX have done that exactly. There are plenty of ways to contact the customer care team. You can use on of their dedicated phone numbers in the UK, Canada or New Zealand. There are several emails you can write to and an awesome live chat option. You can also send them a mail on their postal address in Belize. The website is translated into five languages, but there is no indication if there is customer support in all of them.

 

Deposits and Withdraws

Depositing money into your Tenko FX account can be done using several payment methods. There are the usual payment methods and a vast amount of electronic payment systems including Bitcoins. The processing times are very quick, but there are deposit fees with some of the methods. The minimum deposit requirement depends on the method you’ve chosen and go up to $500 for Bank Wire. Withdrawing money is also easy and has to be done through the method you’ve chosen to deposit the funds. Processing times are extremely fast with most of them taking no longer than 3 hours. However, there is withdrawal fees present which can be quite large for some of the withdrawal methods. Withdrawal instructions are available for every method you choose.

 

Deposit Bonus and Loyalty Programs

Currently, Tenko FX has two promotions. The first one is a $30 welcome bonus. First, you’ll have to make a verification deposit of $3, and then you have to create a new STP account. Each client is eligible for the bonus only once. The purpose of this bonus is to show the new customers a piece of the real trading world. The second promotion is called the ECN gravity. It offers the benefit of trading with liquidity costs of just $10 per million for three months. To be eligible for the bonus you must deposit at least $1000.

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