10Markets Broker Review

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10 Markets review

On-line since:
Country of origin: Great Britain
Payment options: bank wire, credit cards, electronic wallets
Minimum account size: $250
Minimum lot size: 0.01 lot
Leverage: up to 1:1,000
Spreads: fixed, variable

About the company:

10Markets is a broker which offers forex trading and contracts for difference (CFDs) on currencies, indices, and shares through the popular MetaTrader4 platform.

About the company. Security of funds

This is a brand name of Badale Invest Ltd., a company registered in Scotland, Great Britain. However, 10Markets.eu does not provide information about holding of a licence from the regulatory authority of Great Britain. Instead, there is a link to the licence of Vanuatu which refers to another company – Whitestone Securities Limited. We were confused by such information and doubt whether the two above mentioned companies are linked. In any case, Vanuatu is an offshore zone, and we recommend traders to carefully choose a broker they are going to work with.

Even worse, 10Markets has been included in the warning lists of FCA of Great Britain, ASIC of Australia, and CySEC of Cyprus, proving that the broker is not licensed. Besides, Forex Peace Army recommends being extremely cautious when working with the broker, since it has got numerous suspicious and falsified positive comments, as well as complaints about withdrawal problems.

Taking into account the above mentioned, regardless of trading conditions provided by 10Markets, we would not advise you to work with it, as it is not regulated and is probably a fraudster. You’d better choose another regulated broker.

10Markets provides its customers with a choice of 5 account types. All of which are without commissions, have both fixed and variable spreads, and a leverage of up to 1:1,000. The minimum deposit of $250 is an average figure for Forex, although many other unregulated brokers require a smaller amount.

There is no information about brokerage spreads, and when we tried to open a demo account in order to test the platform and trading costs, it turned out that it is impossible until you deposit real funds.

10Markets supports MetaTrader4 (MT4), the most popular platform among forex brokers and traders. It is available as a desktop, web versions, and mobile applications.

MT4 is written in a reliable and universal programming language (MQL4). Packed with such functions as extended types of orders, charts, and user indicators, MT4 is extremely popular among all traders, regardless of their trading styles.

In addition, it provides automated trading through Mirror Trader.

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Support service offers chat, phone, and web form on the site to receive feedback. 10Markets states that its customer service is available 24 hours a day, seven days a week. However, on the website, where telephone numbers are displayed, the operating time is from 10 a.m. to 6 p.m. (Great Britain) Mon-Fri. We tried to connect the service at 9.07 a.m. (London time) and received no reply. Therefore, the support service is not around-the-clock.

10Markets provides its clients with the following methods of depositing/withdrawal: credit/debit card, bank wire, ecoPayz, POLi, CashU, giropay, iDEAL, and WebMoney.

  • unregulated;
  • insufficient information about trading conditions;
  • included in the warning lists of numerous regulators, and is possibly a fraudster.

10Markets Review


Reason to avoid: Offshore license

Listed Date: July 20, 2020

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  • Our Review
  • 10Markets User Reviews
  • 10Markets News
  • Company name: 10Markets
  • Registration/license: Vanuatu
  • Registration/license requirement: USD 2,000

Is 10Markets a regulated forex broker or a scam?

no, 10Markets broker is Non-Regulated Broker. It is NOT SAFE to trade.while we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.

10Markets is a Forex and CFD broker. There is no information about company’s location as well as the decent regulation. The phone numbers provided on the website have South African, Serbian and Russian country codes, so we can only guess where the broker is based.

The firm is licensed by the Vanuatu Financial Services Commission. It is a popular offshore area for many brokers, who look for easier ways of getting the license. In Vanuatu, the registration fee is around USD 2,000, and the minimum capital requested (the security bond) is USD 50,000.

Comparing the license from UK’s Financial Conduct Authority, it requires EUR 125,000 of capital (aside from client deposits) for the STP license. The regulator also provides the segregation of funds and negative balance protection.

CMC Markets Review

Through its offices regulated in major global financial centers, CMC Markets offers traders a wide range of financial products with excellent pricing and its Next Generation trading platform, which is packed with innovative trading tools and charting.

Top Takeaways for 2020

After spending five months testing 30 of the best forex brokers for our 4th Annual Review, here are our top findings on CMC Markets:

  • Founded in 1989, CMC Markets is publicly-traded, and regulated in four tier-1 jurisdictions alongside two tier-2 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading.
  • CMC Markets is a leader for low-cost trading and Professional Trading, which includes the largest selection of currency pairs in the industry. Our testing also found Customer Service to be excellent.
  • The CMC Markets Next Generation platform delivers terrific tools, comprehensive market research, an excellent mobile app, and a massive selection of nearly 10,000 tradeable instruments. And, while limited to just 54 available symbols, MetaTrader is also offered for MT4 preferred traders.

Overall Summary

Feature CMC Markets
Overall 5 Stars
Trust Score 99
Offering of Investments 5 Stars
Commissions & Fees 5 Stars
Platform & Tools 5 Stars
Research 5 Stars
Mobile Trading 4.5 Stars
Customer Service 4 Stars
Education 4 Stars

Is CMC Markets Safe?

CMC Markets is considered low-risk, with an overall Trust Score of 99 out of 99. CMC Markets is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), two tier-2 regulator (average trust), and zero tier-3 regulators (low trust). CMC Markets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Monetary Authority of Singapore (MAS), and the Financial Conduct Authority (FCA). Learn more about Trust Score.

Regulations Comparison

Feature CMC Markets
Year Founded 1989
Publicly Traded (Listed) Yes
Bank No
Tier-1 Licenses 4
Tier-2 Licenses 2
Tier-3 Licenses 0
Trust Score 99

Offering of Investments

The following table summarizes the different investment products available to CMC Markets clients.

Offering Comparison

Feature CMC Markets
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 180
CFDs – Total Offered 9848
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

If trading costs matter to you, CMC Markets has you covered. In 2020, CMC Markets finished Best in Class in this category, thanks to its low spread offering, which is available to all its customer segments and account types.

Average spreads: CMC Markets offers highly competitive pricing, with average spreads on the EUR/USD as low as 0.7 pips and typical spreads of 0.81 pips, according to CMC Markets price data for the month of October 2020.

Rebates: CMC Markets offers liquidity rebates to active traders that surpass at least $25 million in notional trading volumes per month. Liquidity rebate levels range from $5 to as much as $10 per million for those that trade even higher amounts.

VIP accounts: CMC Markets Alpha offering is a VIP account launched through its Australia entity for high-net-worth clients who have $3K in commission spend or have more than $2.5m in holdings.

Guaranteed Stop-Loss Order (GSLO): CMC Markets offers GSLOs, which, as its name implies, guarantees the stop-loss order rate clients choose when setting risk thresholds on their positions. There is a premium for using the GSLO – for example, $8 per 100,000 units using the EUR/USD, and the GSLO also affects the prime margin, which is the amount at risk specified in the GLSO based on the rate chosen. Most brokers charge for GSLOs, although if not triggered, CMC Markets refunds this cost automatically.

Fees Comparison

Feature CMC Markets
Minimum Initial Deposit $0.00
Average Spread EUR/USD – Standard 0.81 (as of Oct 19)
All-in Cost EUR/USD – Active 0.81 (as of Oct 19)
Active Trader or VIP Discounts Yes

Platforms & Tools

CMC Markets Next Generation trading platform is fast, reliable, and comes packed with several unique tools and numerous features to support traders of all skill levels. No question, it is a market leader and will impress even the pickiest of traders. That’s why in 2020 Next Generation won our award as the best Web Based Platform. And, for traders who prefer MetaTrader 4 (MT4), it too is also available as an alternative platform.

Charting: When it comes to charts, the experience is quite convincing as there are plenty of tools and a long list of 79 technical indicators and studies, and 74 chart patterns that are attachable to each chart. Another feature that stands out from the charting experience is the pattern-recognition tool, which offers traders numerous options for trading and analyzing price action. Patterns auto-adjust when the chart time-scale is changed, enabling traders to scan from a one-minute chart to a monthly chart and see any respective patterns identified.

Automated trading: The current version of the Next Generation platform doesn’t feature the ability to run automated trading strategies – even though pattern recognition and social-trading tools are available. Trader’s looking for automated trading can choose the broker’s MT4 platform offering.


CMC Markets’ research offering is rich with in-house content, including its Insights News, CMC Markets Blog, CMC TV, and even publishes a print magazine called Opto, as well as third-party content from Reuters and Morningstar. Traders can also access additional tools within the platform, including pattern recognition software and client sentiment tools – both of which are available to live account holders.

Mobile Trading

The CMC Markets’ mobile app is cleanly designed and comes packed with multiple research tools, powerful charts, pre-defined watch lists for scanning, and much more.

Seamless platform experience: The overall look and feel of the CMC Markets mobile app closely resemble the web-based version of the Next Generation platform. No question, ample time was invested in the app’s development, especially given the challenge of organizing so much information with limited screen space.

Charting: Like much of the rest of the app, charting was just as impressive as the platform’s web version. Although only 29 of the 81 technical indicators are available on the mobile app, it’s still a strong offering compared to many of CMC Markets’ competitors, which often lack technical indicators altogether. While the charting experience was impressive, one minor drawback is that zooming in and out across different time frames was not always fluid.

Market research: For research purposes, another useful feature in the app is the economic calendar where you can subscribe to an event. Once subscribed to an event, an alert will notify you when the news release time approaches. There is also CMC TV, CMC Insights, the broker’s blog, Reuters News, educational content for trading strategies, the Trading Smart series, and webinar schedules.

Other tools: The pre-defined watch lists in the CMC Markets mobile app are great for identifying trade opportunities. Watch lists include popular products, price movers, and currently trending categories.

Customer Service

To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2020 Review, 330 customer service tests were conducted over six weeks.


  • Average Connection Time: th (22 brokers)

Final Thoughts

CMC Markets is a great choice for forex and CFD traders. The company’s Next Generation platform is powerful and versatile, with plenty of configuration options and tools for traders to customize the platform to meet their needs. CMC Markets finished Best in Class across eleven categories in 2020, continuing its streak near the top of the Industry in all key areas including as one of the most trusted brokers.

With nearly 10,000 instruments to choose from across nearly every asset class and global market, CMC Markets is a great choice for traders looking for a multi-asset solution and broad range CFDs and forex pairs at competitive prices. The broker’s expansion into stockbroking in Australia, coupled with its frequent trader program and Alpha service for VIP clients, helps CMC Markets further distinguish itself as a brilliant multi-asset broker.

About CMC Markets

Founded in 1989, CMC Markets (LSE: CMCX) has grown to become one of the leading retail forex, and CFD brokerages globally. The broker offers an extensive range of nearly 10,000 CFD instruments across major asset classes, including forex, commodities, and securities markets.

CMC Markets serves over 50,000 clients worldwide through its 15 offices globally, with a staff count of 687 people across its entities regulated in the UK, Canada, and Australia. CMC Markets holds over £200 million in Tier 1 regulatory capital and £332.4 million in client segregated funds as per its latest annual report. The company has a market capitalization of over £290 million as of September 2020. Read more on Wikipedia about CMC Markets.

CMC Markets Trading Features

Feature CMC Markets
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
cTrader No
Charting – Indicators / Studies (Total) 79
Charting – Drawing Tools (Total) 24
Charting – Trade From Chart Yes
Watchlists – Total Fields 8
Order Type – Trailing Stop Yes

CMC Markets Research Features

Feature CMC Markets
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars Yes
AutoChartist No
Trading Central (Recognia) Yes
Delkos Research No
Social Sentiment – Currency Pairs Yes
Economic Calendar Yes

CMC Markets Mobile App Features

Feature CMC Markets
Android App Yes
Apple iOS App Yes
Trading – Forex Yes
Trading – CFDs Yes
Alerts – Basic Fields Yes
Watch List Yes
Watch List Syncing Yes
Charting – Indicators / Studies 23
Charting – Draw Trend Lines Yes
Charting – Trend Lines Moveable Yes
Charting – Multiple Time Frames Yes
Charting – Drawings Autosave Yes
Forex Calendar Yes

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.

10Markets.com Review

The 10Markets website now says.

10Markets has terminated its operations through its website 10Markets.com.

For any clarifications you may contact us at [email protected]

June 2020: WARNING: The FPA has seen evidence of 10Markets demanding that a review complaining about a withdrawal issue be removed before the withdrawal would be paid. Even when this was done, the client reports that 10Markets.com did not pay the money owed. The FPA recommends EXTREME CAUTION dealing with 10 Markets.

Website is down. Company seems to be out of business.

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Consumer Reviews

THE CASE WITH Gidon Shumon and Nikita Snigerev is in the process of being resolved.
The Case against 10 Markets continues.

Jan 7, 2020 – 3 Stars Today I received further part payment for my Bitcoin “mis appropriation of funds” I have therefore agreed to say this and to say that at the moment they have been correct. I will let you know when everything is received back into the account.
Nothing has been agreed with Europefx to date, just Gidon Shumon.
I am meant to be paid back in full by May. I will let you know.
Thank you for your help and all those that contributed to a resolution.

Aug 20, 2020 – 1 Star Check out my reviews on EuropeFX they are not to be trusted. I started there and they took 40,000 and then moved to EuropeFX were the experts promised large amounts.
I printed this on the other review
Dear Mr Lem,
Would you be so kind to specify exactly what you consider to be defamatory. The blog has been fact and source checked, including the nature of the relationship between Roy Almagor and the alleged fraudster Lee Elbaz, and has been updated accordingly.
Johan Eliasch

According to Mr Lem, Roy Almagor, the owner of Maxiflex and the license holder on behalf of EuropeFx, is threatening to sue me for expressing my right to freedom of speech – saying that I am “blackmailing” him – when I am simply telling the truth.
In the latest conversation with Mr Lem , we inquired about Ben Givon. Ben Givon is not actively involved by name in any company that operates the EuropeFx/Maxiflex operating structure. EuropeFx – at the time – was operated by Batchimo Limited – owned and operated by Yarel Keha. So who is Ben Givon? According to a EuropeFx employee, Ben Givon is business partners with Nir Weissman, the son of Meni Weissman, the owner of Browns Hotels. Nir Weissman is supposedly a co shareholder of Ben Givon. Then there is Roten Shemesh who is Nir Weissman’s alleged right hand man.
So the pertinent question to ask is why did Mr Lem state that Ben Givon was the owner of this structure & then refused to say exactly what company he owned and why. Givon operates Antelope Systems Limited – a CRM provider for EuropeFx. CRM is a service provided to a company. It does not mean you own the company you provide a service to. However, Mr Lem stated that Ben Givon was the “owner” when asked who Ben Givon was and what he did. Why does this matter?
It matters because arguably, the EuropeFx/Maxiflex structure gives the impression that EuropeFx is an impartial broker that makes money solely on commission, implying that EuropeFx make money when you do well. This is a false premise. If Givon is the owner as Mr Lem described – then the swap charges and the equity of the client are all collected in the same place – not partitioned as advertised – i.e commission to EuropeFx and Swaps to Maxiflex. This means EuropeFx is not impartial – since there is more money to be gained on swap charges than commissions. Since you can change the swap charges by changing the terms and conditions if you are the license holder of this structure. Maxiflex is the license holder. Meaning it is in the interest of the owner of EuropeFx/Maxiflex for the client to lose because they will make more money by changing the terms and conditions aka “Swap Charges” than a set commission rate. The “swap charges” make it look like the client has lost because of their own poor trading decisions instead of a pre-determined calculated decision taken by the EuropeFx/Maxiflex ownership structure to sabotage a clients trading positions in order to take their trading balance.
There is no distinction between EuropeFx and Maxiflex – they are simply storefronts for the same scheme. In my case, they advised me to put as much of my money into this structure by promising large profits. They then changed my terms of conditions without informing me – which is illegal. Terms and conditions include swap charges. The swap charges on the positions that were given to me by Yarel Keha – AKA “Gabriel” – were the swap charges that ultimately destroyed my trading balance. EuropeFx then removed all liability from this – by stating they do not receive any of the swap charges. But they do – since Ben Givon owns this structure. Why would a high level employee – such as a client relations manager – someone who deals with legal disputes – disclose the owner and lie about it. Every person on earth who works for somebody – knows – who they are working for. They know who their boss is. So there it is. Ben Givon is the real owner behind this structure. His other company BAFF Affiliate is also registered to the same Cyprus office address as EuropeFx. He then hid his “Whois” address for BAFF Affiliate to prevent us from finding out this information. Likewise he was formerly the director for the operating agent of the German tied agent SF Financial Services. CC markets also provides “CRM services”.
It is also worth noting that the two people I was dealing with used fake names to hide their identities, one of them was Yarel Keha AKA Gabriel.
I would also like to clarify that the source of the information that Roy Almagor was in a business relationship with the alleged fraudster Lee Elbaz, accused of a $145m fraud, is an employee of Batchimo Limited.

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