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The offshore broker 10CFDS is situated in Belize. It provides many trading instruments, consist of more than forty FX pairs and binary CFDs. The leverage is up to 1:200 and is provided on a web-based trading terminal. However, it's regulatory and license status is not at all promising. If any of you are willing to trade with it, make sure to read this 10CFDS review first.

About 10CFDS:

The broker 10CFDS provides all sorts of trading instruments. It involves forty-six FX pairs viz SD/HKD, USD/MXN, USD/CZK, USD/RUB, USD/SEK, USD/NOK, USD/SGD, USD/PLN, USD/ZAR, USD/TRY, and USD/DKK. It also provides CFDs on natural resources, the farm produces, twenty-four indexes, shares, and cryptocurrencies.
The leverage offered by this broker is 1:200. Many Markets Authority has decided to allow the maximum leverage of 1:30. The broker's offerings miss on the regulator’s directives. The payment can be made by cards, wire transfer, PaySafeCard, Neteller, Skrill, and Western Union. Unfortunately, the broker does not accept payment via bitcoins. To start trading with 10CFDS traders are required to deposit $250 only. This requirement is acceptable but several regulated brokers in the market accept very low initial deposits.
The SPEED SOLUTIONS Ltd is the owner of the 10CFDS trademark and is registered in Belize. The firm claims to be regulated by the local International Financial Services Commission. The client's payments are processed by the Estonian firm named SPEED PAYMENTS OU.
The IFSC does not require strict prerequisites to offer regulation. It also loosely oversees such brokers. Hence there is no guarantee for the safety of funds. All reputed regulators have banned controversial trading bonuses but the broker under consideration offers several bonuses. These bonuses are merged with uncontrolled trading practices such as the requirement of the specified trading volume. If these conditions are not fulfilled, the broker can cancel your trading account, locking invested funds.
Furthermore, the withdrawal process at 10CFDS may take up to 21 working days to be processed. This time frame is lengthy. Also, the withdrawal is charged with a 3.5% service fee, $ 1.5 is charged as a profit clearance fee, and an additional $ 20 is applicable as a monthly maintenance fee. A regulated broker does not have such practices. The provided spread of 3 pips can be seen on EURUSD FX pair while checking the web-based trading platform. This spread is high and attractive but it raises the cost of trading. For higher profit, tighter spreads are anticipated. The broker claims to offer to trade on the MT platform but in reality, it offers some web-based platform.

Is 10CFDS scam or legit?

The above discussion indicates several flaws of this broker. The regulation of this broker does not cover investment refunds. The broker is also offshore. We are convinced that the broker is hazardous to the trader's fund and can be a forex scam broker. Staying away from this broker is advised.
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Belize FOREX License. International financial services business is regulated in Belize by the International Financial Services Commission (IFSC). Different kinds of financial services, including trading in foreign exchange / ForEx, in securities and financial instruments as well as brokerage, consultancy and advisory services for these can be carried out by an International Business Company ... Belize IFSC license is considered as one of the more efficient forex regulated licenses. It is well recognized by international banks, Payments providers, Platforms and financial institutions. The International Financial Services Commission (IFSC) is the regulatory body in Belize, responsible for the review and issuing of Belize forex licenses and regulation. Belize’s financial services regulator – the International Financial Services Commission (IFSC) raised the required minimum capital for registering new derivatives brokers to $500 000. The increase concerns brokers of forex, options, futures, contracts for differences (CFDs), shares, stocks and interest rates. Previously, the minimum required capital was $100 000. The IFSC agency has updated its blacklist to include the following brands: OptimaFX Global Investment LTD, which is using a fraudulent license No: IFSC/60/345/APM/18, and claims to be based out of New York. The second flagged broker called ‘UZMAN FX LLC’ which is also falsely claiming to hold International Business Company registration in Belize while not actually licensed by the ... The financial watchdog of Belize released a series of warnings about forex companies that are operating in the country without a proper license.. IFSC speaks out. On Thursday, the IFSC blacklisted numerous firms, some of which were operating under the pretense that they were registered with the regulator.A few were clone firms that copied the authorized credentials, branding and logo of a ... IFSC, Belize is a regulatory body holding responsibilities for issuing, renewing and regulating Forex broker license in Belize jurisdiction. The reason Belize is considered as Forex licensing hub is that Belize is relatively cost effective and less time consuming than other jurisdictions. Sigmate Informatics offers you complete and turnkey solutions for obtaining a Belize forex broker license. In order to receive a forex license in Belize, the broker must first establish an International Business Company (IBC). Prior to setting up the IBC, we’ll require some basic information about your brokerage: identity documents of all shareholders, intended structure, and the desired business name are just a few examples of the requirements. Belize is an independent country, located in Central America and it borders with Mexico, and Guatemala. In terms of time, Belize Forex License can be obtained comparatively quick. Moreover, Belize enjoys good reputation in the sphere of financial services and is widely known to international banks and payment providers. Introduction to IFSC Regulation Once there was a saying that, Belize is too much flexible for Forex brokers. Even if a broker try to kill the market or spread too much scam, there is no one to take a step. But the total scenario changed when Belize started IFIC forex license with a minimum capital requirement and some other strict regulations. The term ‘IFIC’ means International Financial ... WARNING NOTICE – FOREX TRADING SECRET. 16 Oct at 6:07 pm. IFSC IMMARBE BHSFU BICAR BCCAR. IFSC. The International Financial Services Commission (the “IFSC”) is a statutory body established under the International Financial Services Commission Act to regulate and supervise the international financial services sector. The IFSC comes under the portfolio responsibility of the Minister of ...

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