The possibilities that are currently available in the area of trading are in any case very extensive. Regularly new offerers come, who recruit with special offers and good conditions around the favour of the Trader. While many on-line brokers concentrate thereby on a special commercial segment, there is with 10Markets a offerer, who offers two interesting commercial possibilities to its customers equal. For example, traders first have the option of using binary options to determine whether an underlying asset falls or rises. As a second option, 10Markets offers access to trading in Forex products. Traders can rely on a comprehensive range of trading products.
So they can participate in social trading and take advantage of various educational opportunities. Above all, however, a very wide range of underlying assets can be accessed, whereby a large selection of instruments is also available for the trade itself. With all the possibilities that an online broker offers, it is also important for long-term successful trading that the transactions are carried out seriously and that the traders can rely on a fair partner. In our test, we check not only the various offers of the online broker, but also whether it is a provider that can safely rule out fraud or rip-off. We have compiled all our experiences in detail in the following sections.
We have tested the provider 10Markets and gained a number of experiences in the process. These will first be presented here in a first overview. All in all, it is our impression that the dealers can rely on a very broad and in many respects solid offer. This begins with the underlying securities that are made available for trading. Traders have the choice between trading binary options and trading foreign exchange. An advantage can also be seen in the fact that only one account is needed for both types of trading, so that the trader always keeps track of his finances. In the case of underlyings, traders can choose from a range of important securities in the areas of equities, stock indices, commodities and currency pairs.
Traders also have the option of choosing between several variants when choosing their trading account. Depending on the amount of the deposit, additional offers can be used. Besides with higher deposit also an appropriate bonus is available. With the commercial platform a very stable technology is used, with which the dealers can reliably trade. In addition, 10Markets is making great efforts to be a reliable partner for its customers in all aspects of trading. Thus different contents are made available, with whose assistance the customers can further educate themselves continuously. In addition to market signals, traders also regularly find the opportunity to participate in webinars. Should it come in the trade to the fact that acute questions emerge, 10Markets offers besides a Kundenservice, which is available by telephone around the clock. All in all, according to our experience, dealers have the best technical and content conditions for successful trading.
10Markets at Check: Fraud or serious?
In this test a large part of our attention is focused on the question whether traders can be sure that they or their money is in good hands with a certain Forex broker. At first glance, this is not always easy to determine. This applies all the more if, as with 10Markets, it is a provider that has no European regulation. The online broker 10Markets is registered in Vanuatu, a sovereign island state in the South Pacific. In our view, it is difficult to understand which regulations apply there to companies such as 10Markets. Against this background, we can only rely on the experience that we and other traders have had with this provider. At least, it can be said up to now, there are no negative reports that cast doubt on its reliability and seriousness. In the time since its foundation, the company has always fully met its obligations towards its customers. Transactions accepted on behalf of clients have been carried out as requested. In no case have there been any incidents so far which would lead to the conclusion that fraud or rip-off can be expected with these online brokers. There is also no reason to believe that this should be the case in the future. In any case, however, we recommend that you only enter 10Markets with moderate stakes, as there is no classic deposit protection.
At a glance at the underlying assets, traders can access a wide selection. In the area of binary options, there are about 100 underlyings from the categories equities, stock indices, commodities and currencies available. In principle, the most important internationally significant values and currencies can be accessed. For equities, bonds of European stocks are available for trading; for indices, the selection of underlyings also includes the American stocks Dow Jones, SP and NASDAQ. DAX and FTSE are also included. The range of commodities comprises a total of only three stocks, including not only oil and silver but also copper. By contrast, the broadest range is available in foreign exchange and currency pairs, where more than 25 combinations are available. These can be traded via a separate platform.
In addition to the selection of underlyings, trading in binary options also depends on which instruments can be specifically accessed. Here, too, traders are offered an extremely broad spectrum. Initially, five different expiration times can be selected. First, 10Markets offers the ultra-short maturity of only 30 seconds. In addition, one minute, two minutes, five minutes and ten minutes are available as expiration time. Long-term instruments, on the other hand, cannot be traded on 10Markets. For this, traders are offered a selection of further speculative trading instruments. This includes the “once touched” variant, where the trader must correctly predict whether the underlying instrument will reach a certain price level within a specified period, even for a short time or not. Another variant is the “borderline” instrument. Here it is a matter of correctly predicting whether the price will move within a predefined range or break out of it. Of course, the question of what yield the trader can expect is also decisive. With the simple trading variant, this is in the range of 65 percent. With the “border” and “once touched” variants, yields of over 80 percent are also possible for a single trade. In combination with the available underlyings and the various instruments, customers can always access a wide range of trading options.
multiple account types to choose from
The trader also has a wide choice of available trading accounts. A total of five different types are available. Which account is selected depends first of all on how much trading capital is deposited. It goes with the simplest trade account with the designation bronze, with which an initial deposit of at least 250 US Dollar is necessary. Already in this version, traders can access exclusive functions and have the opportunity to talk to a personal account manager for ten days. From a deposit of 2500 US dollars, the trader receives the account model silver. This already offers the opportunity to regularly participate in webinars and to benefit from signals. The next account level is reached with a deposit of 5,000 US dollars. In addition to three free transactions, account holders have the opportunity to participate once a month in a live trading session with a 10Markets expert. Starting from 10,000 US Dollar the Premium account is made available. Further educational and information offers can be used here, including two live trading sessions per month. There is also the opportunity to participate in automatic trading. Traders also receive signals for trading when they opt for the platinum account, which is granted from a deposit of 25,000 US dollars. A further advantage of this account consists of the fact that on the basis of particularly favorable spreads one can trade and higher net yields in the trade are possible.
No classical deposit bonus
Who itself a little in the scene of online brokers for binary options, one quickly notices that there are only a few substantial differences between the providers, at least with regard to the trading offer. This will also be the reason why many online brokers try to stand out from the crowd with bonus offers. A classic deposit bonus, however, is currently not offered at 10Markets. However, the selection of different account types provides an incentive to enter trading at 10Markets with higher deposit amounts. As described in the previous section, some additional benefits may be available depending on the amount of the deposit. In addition to live sessions and webinars, holders of higher value accounts will also benefit from better returns and lower spreads on Forex. However, additional trading capital is not made available if the trader decides to make a higher deposit.
Deposit and outpayment by credit card
How with all CFD brokers it is of course a central prerequisite for trading that the trading account is capitalized, even with 10Markets for trading. With a minimum deposit of 250 US dollars or Euro for the Basic account, a relatively moderate entry with this provider is possible. A wide range of options is available for the deposit itself. First, the services of the two credit card providers Visa and MasterCard are accepted. In addition, a selection of Internet-based payment service providers is also available. Among others, the money can be transferred to the trading account with WebMoney, WireTransfer, CashU or iDeal. The prerequisite for this, of course, is that the customer himself has an account with the relevant provider. The same methods that can be used for deposits are also available for withdrawals. The bank transfer method is not available. In the context of the registration as a customer it is thereby necessary to commit itself to a certain deposit method. Above all, it is important that the credit card or the respective account is issued in the name of the trader. It is also possible for withdrawals to be made only to the source from which the money was originally deposited. Deposits as well as withdrawals can be made very conveniently via the corresponding area within the online account.
Safety even without regulation
As a certain disadvantage, many traders will find that 10Markets is a non-regulated agent. Background is above all the fact that it concerns a comparatively young on-line broker, who has besides its seat outside of the European union. In order to save costs in particular, a seat in an EU state and a licensing procedure necessary for this are waived. For traders, this initially means that they cannot rely on a level of security that is customary for online brokers domiciled in Germany or other EU countries. Nevertheless, the lack of regulation is not synonymous with dubious business practices. On the contrary, these companies often make a special effort to prove their seriousness, for example by making payments very quickly or offering very good customer service. Even without their own regulation, traders can rely on our experience to ensure that they are a reputable provider. However, traders with a very high need for security should look for an online broker based in Europe who has the appropriate regulation.
Good grades for support and customer service
As mentioned in the previous section, our experience has shown that especially young online brokers without regulation are particularly keen to satisfy their customers with comprehensive service. In principle, this can also apply to the offer of 10Markets. The Online Broker initially offers its customers a service in various languages. German customers can also benefit from a hotline where they can expect a contact person who understands their language. While this service is available between 10 a.m. and 6 p.m., 10Markets also offers a service that can be used seven days a week and around the clock. However, this is international customer service, where customers should have English language skills to describe concerns and obtain information. On this basis the customers can access a quite comfortable offer, in order to look for solutions with technical problems or to eliminate ambiguities with the trade or concrete offer. According to our experience, competent and friendly employees can always be counted on, and 10Markets also offers its customers an interesting range of services beyond service. Every day several live webinars are held to inform customers about the most important developments in the markets. Furthermore, there are formats on offer that enable the continuous development of trading knowledge and competence. With 10Markets, customers can also prepare themselves for a broad range of information on the various markets. A database can also be used to search for special videos that provide basic knowledge about individual markets, strategies and trading instruments. All in all, traders have the opportunity to choose from a broad pool and thus expand their knowledge step by step.
User-friendliness of the website
In retail, our experience shows time and again, that in addition to the skills of the trader himself, it is above all important that the technology works perfectly. An important prerequisite for successful trading is therefore that trading can take place on the basis of a clear, functionally designed platform. In the case of the platform provided by 10Markets, this requirement is met in every case. A browser-based platform is provided that can be accessed from practically any computer with an Internet connection. In addition, MetaTrader 4 will also be available for download, allowing a range of individual settings and additional analysis methods. With just a few clicks, both trading instruments and underlyings can be selected. The expected return is displayed transparently for each current or planned operation. On this basis, trading with the binary options can be settled efficiently and smoothly. 10Markets has also concentrated on the essentials when designing the other contents of the website. In some areas, however, some additional information would be quite helpful, for example in the description of the deposit and withdrawal methods or the overview of the underlying assets. In each case however a user-friendly product is offered, with which both the orientation and the navigation falls very easily.
Also a mobile App is available
Not more want to do without most Trader nowadays the possibility of being able to access the trade mobilely. Also 10Markets offers its customers the possibility of installing an appropriate App on their mobile terminal thereby to its customers. A specific solution is available for download for both foreign exchange trading and binary options trading. Both owners of devices based on the iOS operating system and Android users will find an appropriate version. With regard to the functions offered by these mobile solutions, there are hardly any restrictions to be accepted in comparison to the platform. Trading can be handled on the basis of a similarly clear platform. Anyone who is familiar with the classic platform will not find it difficult to switch to the mobile version.
Fazit – 10Markets offers a broad range of retail, service and knowledge services
With Online Broker 10Markets we have tested a provider that has only been in business for a relatively short time. However, traders can adjust to a very wide range of underlying assets for binary option trading. In addition, it is possible to trade foreign exchange from the same account. In principle, however, different platforms can be accessed, which can also be downloaded free of charge for mobile trading. As a clear plus we have evaluated the possibilities that are available in the area of market information and training opportunities. On this basis, it is very easy for beginners in particular to familiarise themselves step by step with the special features of this trading segment. In addition, traders are supplied daily with information from the markets. Especially for traders with an above-average need for security, it will be a disadvantage that there is no regulation and 10Markets cannot offer its customers deposit protection, as is usual with online brokers based in an EU country. However, this should not lead to the conclusion that fraud or rip-offs are the order of the day here. On the contrary: In the context of our test we got to know 10Markets as respectable, fair and reliable offerers.