Tentrade is a forex broker that claims to offer a variety of trading products and services. However, there are a number of red flags that suggest that Tentrade is a scam broker.
Company Overview
Tentrade is a relatively new broker, having been founded in 2021. The company is registered in the Seychelles, which is a well-known offshore financial center. The Seychelles does not have any regulations specifically for forex brokers, so Tentrade is not subject to any oversight from a financial regulator.
Does Tentrade Have Any License?
Tentrade claims to be licensed by the Seychelles Financial Services Authority (FSA). However, the FSA does not regulate forex brokers. In fact, the FSA has warned investors about the risks of trading with unregulated forex brokers.
Is Tentrade Regulated By Any Authority?
No, Tentrade is not regulated by any reputable financial regulator. This means that there is no one to protect you if you lose money trading with Tentrade.
Pros and Cons
Pros:
- The minimum deposit is low.
- The trading platform is easy to use.
- There are a variety of trading products available.
Cons:
- Tentrade is not regulated by any reputable financial authority.
- There have been reports of Tentrade using fake testimonials and misleading marketing materials.
- Some traders have complained about difficulty withdrawing their funds from Tentrade.
How Does Tentrade Reach To Their Prey?
Tentrade uses a variety of methods to reach potential victims. These methods include:
- Advertising on social media and other websites.
- Sending unsolicited emails.
- Cold calling.
Technical Details
Minimum Deposit:
The minimum deposit to open an account with Tentrade is $100.
Trading Platform:
Tentrade uses the MetaTrader 4 trading platform. This is a popular platform that is used by many forex brokers.
Spread:
The spread on Tentrade is variable. This means that the spread will change depending on the market conditions.
Leverage:
This company offers leverage up to 1:500. This means that you can control a position that is 500 times larger than your deposit.
Packages and Products They Offer
Tentrade offers a variety of trading products, including:
- Forex
- CFDs on stocks, commodities, and indices
- Cryptocurrencies
Withdrawal and Deposit Method
They offer a variety of withdrawal and deposit methods, including:
- Credit cards
- Debit cards
- Wire transfers
- E-wallets
What Do Their Previous Traders Say?
There are a number of complaints about Tentrade online. These complaints include:
- Difficulty withdrawing funds.
- Fake testimonials.
- Misleading marketing materials.
- Unrealistic profit claims.
Summing Up- Why Should Not You Trust Tentrade?
There are a number of reasons why you should not trust Tentrade. These reasons include:
- Tentrade is not regulated by any reputable financial authority.
- There have been reports of Tentrade using fake testimonials and misleading marketing materials.
- Some traders have complained about difficulty withdrawing their funds from Tentrade.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money trading with Tentrade, you may be able to get your money back through a chargeback or by filing a complaint with the relevant authorities. You can also contact a financial recovery company for help.
But, choosing the best and right one is difficult. In that case, to help you, we can provide a free consultation and service recommendation that can be the best option for you.
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Final Thoughts
Tentrade is a scam broker. Do not trade with them. If you have already lost money with Tentrade, you should seek help from a financial recovery company.
We hope this article has been helpful. If you have any further questions, please do not hesitate to ask.
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