10CFDs Review
About 10CFDs
10CFDs is a leading online CFD brokerage with an strong international reputation. It offers traders a combination of high tech platforms, top trading tools, and competitive spreads. 10CFDs is regulated by the International Financial Services Commission and focuses on building long-term connections with its traders.
There’s an excellent index of 1,000+ assets and a choice of desktop and mobile platforms. All trading is backed up by a good quality online education center and some impressive webinars. Overall, 10CFDs is one of the best brokerages that we’ve traded with.
Available Assets
10CFDs provides traders with over 1,000 of the best-known global assets. These include cryptocurrencies, forex, stocks, commodities, and indices.
Trading Platforms
10CFDs launched a proprietary trading platform which uses next generation technology to create an almost flawless trading experience. The platform is packed with advanced trading tools, almost rivalling MT4 with its sophisticated design features. Fortunately, the 10CFDs platform is also well thought out and logically arranged, making it simple to use. The apps for mobile and Tablet are also world class and scale down to smaller screens without glitches or any loss of functionality.
10CFDs traders are almost spoiled for choice with a range of tools that includes an integrated charting package, price alerts, economic calendars, trading signals, reports and analysis and one-click order execution. It’s difficult to say which is the world’s best platform, because every trader has different needs and preferences. But there’s no doubt that the 10CFDs trading platform is in the top 5%. We loved it and will trade on it any time.
Tools and Features
10CFDs is one of the online CFD brokers that really understands what independent traders are looking for. They succeed in bring together the right balance of data feeds, resources for fundamental analysis like economic calendars, daily reports, video summaries of the market situation, and news articles, as well as a good range of live charts and help with technical analysis. The trading process itself is very smooth and investors have easy control over their trades (mainly due to the dashboard design).
There’s almost no possibility of new traders getting confused, and the risk management tools mean that you need never lose control of an open trade. 10CFDs seems to place a high emphasis on new technology and we’ve heard rumours that they are launching several platform upgrades and a completely new trading tool this year.
Licensing and Regulation
10CFDs is fully licensed and regulated, operating under the supervision of the International Financial Services Commission (IFSC). Traders enjoy various statutory protections and deposited funds are kept securely in segregated accounts.
10CFDs has a good reputation in the online trading community and we’re not aware of any major issues or concerns regarding the brokerage.
Education Materials
10CFds has a fairly good online education center with the usual selection of trading eBooks, webinars, a glossary and FAQs. Most of these learning resources are OK – but are not anything special. What stands out is 10CFDs suite of VOD trading tutorial films. These are professionally produced and the brokerage clearly invested some time and money in creating them.
The trading films cover almost every aspect of cryptocurrencies, forex and CFDs. They explain complex trading techniques, strategies and analysis methods in simple terms, basing the instruction around real life trades. If 10CFDs were to upgrade the rest of their learning tools, they’d have one of the best education centres in the world. As it is, new traders and partially experienced traders will be able to improve their financial knowledge and trading skills considerably.
Account Types
10CFDs offers a choice of six different account types, as well as Islamic accounts and a free demo account. The regular account types range from Standard to VIP. The accounts are designed to provide the right level of benefits for traders according to their financial expectations and experience level. When we signed up with 10CFDs, one of their account managers talked to us about our previous trading experience, investment budget and the risk level that we felt comfortable with.
After 20+ years on the platforms, we have enough experience to go straight to a Gold or Platinum account, but we opted for a basic account. The minimum deposit was $250 and we got an immediate 20% bonus. The basic account gave us all the tools that we needed to begin immediate trading.
Customer Service and Support
All traders at 10CFDs have 24/5 customer support with a choice of over a dozen languages. The staff is well trained and knowledgeable and we found them to be friendly and helpful. That’s basically all you need from any customer service.
Our enquiries were dealt with fairly quickly and there was no significant wait when we telephoned. You can contact 10CFD reps by email, online form and phone.
Deposits & Withdrawals
The deposit and withdrawal procedure at 10CFDs is simple and straightforward. We do have a couple of small criticisms though. 10CFDs accepts payment via credit and debit cards, bank wire transfer, Netteller, Skrill and Western Union; they could improve their service by adding some more regional e-wallets.
They also apply the standard 3.5% fee on most withdrawals. Many CFD brokers do this, but it is irritating and uneccessary. That aside, deposits and withdrawals are fast, convenient and secure. If you want to withdraw your profits, 10CFDs will despatch them within one business day with no fuss or delays.
Ease of Use
10CFDs is one of the best online CFD brokerages that we traded with. Their service isn’t perfect (no brokerage can provide a perfect trading experience) but they are definitely in the top 10% of all brokers, and arguably in the top 5%. The 10CFDs trading platform comes close to rivalling MT4 and the average trader won’t see any real difference between the two.
There is an excellent choice of assets and the dashboard connects you to a great suite of trading tools. These aren’t gimmicks, but are genuine trading features that will actually help you to judge the markets, monitor assets and control as many trades as you want. 10CFDs is one of the very few brokerages that impressed us on every level. They need to tweak the education center and the deposit and payment options, but overall, they provide investors with excellent value for money.
Pros & Cons
Pros & Cons:
- IFSC regulated brokerage with a good international reputation.
- Top quality trading platform and mobile apps.
- Top quality trading platform and mobile apps.
- Top quality trading platform and mobile apps.
Cons:
- Parts of the education center could be improved.
- 10CFDs should think about scrapping the 3.5% withdrawal fee.
- The service could be improved by adding more e-wallets.
10CFDs
Available Assets
Fees & Commissions
Trading Platforms
Tools and Features
Licensing & Regulation
Education Materials
Account Types
Customer Service & Support
Deposits & Withdrawals
Ease of Use