TenTrade is a Forex and CFDs broker that also acts as a prop firm that offers large funded accounts with a very high leverage of 1:500. The firm promises superior safety and advanced trading platform MT5 (MetaTrader 5), but we have found several critical issues and red flags during our evaluation process. There are two funded accounts, express challenge, and instant funded account. Funding options are really diverse from 1k to 500k USD options, allowing both beginners and seasoned investors to find suitable account sizes.
In today’s TenTrade review, we will assess the firm’s most critical features including safety, rules, funding options, funding amounts, support, fees, assets, platforms, and more. After reading this review, you will be able to define whether the firm is reliable or another fraud.
Pros & cons of TenTrade prop firm
Pros
- Most payment options are free and instant
- Offers access to advanced trading platform, MetaTrader 5
- Fast and digital account opening/verification
- Lacks phone support
Cons
- A multitude of fake positive reviews have been detected on the FPA, indicating the firm’s unethical practices
- The firm acts as a broker as well, which makes it super risky to sign up for its challenges
- No ability to withdraw with $0 fees
Safety of TenTrade – 0
TenTrade reviews are few on the FPA and the firm was caught uploading a multitude of fake positive comments, which makes its ethical standards very questionable. This is a serious red flag and makes us recommend our readers to stay away from this firm. A similar tendency is true for Trustpilot, where there are many positive reviews of which around 10% are 1-star evaluations, indicating that the firm has serious inefficiencies in its services. As for the experience, the firm has been around since 2021, and it should already be experienced in its industry, but the lack of ethical practices makes this experience not important enough to give the firm a score in this aspect.
The firm gets a 0 score in this section.
TenTrade Funding and maximum capital allocation – 3.5
TenTrade funded programs are not diverse as there are only two funded challenge types offered, instant challenge, and express accounts. Each of the TenTrade funding options comes with a unique name. We can think about them like tiers. Here is the list of all of them:
TenTrade Instant funding accounts:
- Micro – 1,000 USD
- Mini – 3,000 USD
- Bronze – 10,000 USD
- Silver – 30,000 USD
- Gold – 90,000 USD
- Diamond – 270,000 USD
- Master – 500,000 USD
TenTrade TenExpress challenge:
- Mini – 3,000 USD
- Bronze – 10,000 USD
- Silver – 30,000 USD
- Gold – 90,000 USD
- Diamond – 270,000 USD
- Master – 500,000 USD
TenTrade challenges offer diverse funded options at competitive prices, but traders should not get allured by these too good to be true offerings, as the firm has a very questionable safety record.
TenTrade scaling plan is not available at the moment, which is yet another downside for the firm. Overall, the firm gets a 3.5 score in this section.
TenTrade Assets – 3
TenTrade prop trading is possible by speculating on several financial instruments, including Forex pairs, indices, commodities, and cryptos. The leverage is 1:100 and can be changed to 1:500 which is very high and flexible. Spreads are competitive but not 0 pips which is a downside and makes it not attractive for scalpers.
Overall, the firm gets a 3 score in this section.
TenTrade Trading rules and limitations – 0.6
TenTrade rules are average as they allow a very attractive 6% daily loss limit and 9% maximum drawdown. However, the profit target is high at 10%. Both challenge accounts have the same rules. Minimum trading days are 5 and there is a consistency rule making it impossible to use certain strategies such as martingale and others.
For offering mostly strict rules, the firm gets a 0.6 score in this section.
TenTrade Fees – 2.5
The pricing is attractive by TenTrade for instant challenges, as these accounts are usually very expensive.
Let’s compare pricing for the two challenges to compare them clearly.
TenTrade Instant funding account fees:
- Micro – 43
- Mini – 110
- Bronze – 330 USD
- Silver – 990 USD
- Gold – 2,400 USD
- Diamond – 5500 USD
- Master – 11,000 USD
TenTrade TenExpress challenge pricing:
- Mini – 32 USD
- Bronze – 106 USD
- Silver – 280 USD
- Gold – 439 USD
- Diamond – 1097 USD
- Master – 1650 USD
TenTrade free trial is not available and the TenTrade free repeat is not offered either, which is very disadvantageous for traders as they can not start over when failing or check trading conditions before pursuing the challenges.
The firm gets a 2.5 score in this section.
TenTrade Platforms – 4
TenTrade as a Forex broker offers access to advanced MetaTrader 5 trading platforms. Traders can use custom indicators and many other tools, which is advantageous. There is also a mobile MT5 app that allows traders to access trading on the go. The firm gets a 4 score in this section for offering excellent platform software.
TenTrade Profit-Sharing – 1
TenTrade profit split is low at 70%. This is because many prop trading firms that are reliable, unlike TenTrade, typically offer at least 80% and sometimes even 90% profit splits.
Withdrawals are often declined, while the firm promises 15-day withdrawals.
Overall, the firm gets a 1 score in this section for offering a terrible withdrawal experience.
Education and trading tools at TenTrade – 0
TenTrade lacks educational resources as well. There are no webinars trading guides, or video tutorials, which is a huge downside for the firm. There are no tools either to make a trader’s life easier. As a result, the firm gets a 0 score in this section.
Customer Support at TenTrade – 2.4
Customer support at TenTrade is provided via live chat and email options. There is no phone support for the prop firm, which is a serious downside. When it comes to multilingual support, the firm offers plenty of different languages, which is an advantage.
Overall, the firm gets a 2.4 score in this section for offering mediocre support experience.
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