TenTrade Review
TenTrade offers a Funded Trader Program with Instant Funding and TenExpress Evaluation options, providing access to trading capital from $1,000 to $500,000 with a competitive 70/30 profit split. Traders have access to MetaTrader 5 and various financial instruments.
TenTrade Review
Summary
TenTrade is a forex and CFD broker based in the Seychelles that offers a comprehensive trading experience for traders worldwide. Regulated by the Seychelles Financial Services Authority (SFSA), TenTrade provides access to various financial instruments, including over 40 currency pairs, 15 crypto pairs, indices, commodities, and stock CFDs.
While primarily known as a broker, TenTrade has expanded its offerings to include a robust Funded Trader Program, which is the focus of this review. This program represents TenTrade’s venture into the prop trading space, allowing traders to access significant trading capital without risking their own funds. The Funded Trader Program is designed to discover and support consistently profitable traders, offering them a platform to showcase their skills and potentially earn substantial profits.
The program features two main pathways for traders: Instant Funding and the TenExpress Challenge. The Instant Funding option allows traders to bypass the traditional evaluation process by paying a one-time fee, starting from as low as $43, to gain immediate access to a live trading account. For those who prefer a more structured approach, the TenExpress Challenge offers a one-stage evaluation process.
Both programs offer a competitive profit split of 70/30 in favor of the trader, with bi-weekly payouts. The program also provides leverage up to 1:100. It allows trading in various markets, including forex, commodities, indices, shares, and crypto CFDs, offering traders a diverse range of instruments to work with.
TenTrade’s Funded Trader Program also emphasizes trader education through its TenAcademy, which offers eBooks, online courses, webinars, and market news. They also offer 24/5 customer support via live chat and email, though phone support is not currently available.
Let’s examine TenTrade’s features, programs, and conditions in more detail to understand what this prop firm offers traders.
TenTrade Review
Programs
TenTrade offers various programs designed to accommodate different trading styles and preferences. Here’s a closer look at the programs available.
Instant Funding
TenTrade’s Instant Funding program is perfect for traders who want to jump right into trading without worrying about hitting profit targets. This program offers a range of account sizes, from $1,000 to $500,000, with options like Micro, Mini, Bronze, Silver, Gold, Diamond, and Master. Traders can enjoy a 70% profit split with payouts every 15 days. The program sets a maximum drawdown between 9% and 5% and a daily drawdown from 6% to 3%, depending on the account size.
A minimum of 5 trading days is required for most accounts, while larger accounts like Diamond and Master require 10 days. The program includes a consistency rule and varying minimum trade sizes, with leverage set at 1:100 for Forex, oil, and gold. Registration fees vary, starting at $43 for the Micro account and going up to $11,000 for the Master account.
TenExpress Evaluation
The TenExpress Evaluation program is ideal for traders who are eager to showcase their trading skills. Similar to the Instant Funding program, account sizes range from $3,000 to $500,000, including Mini, Bronze, Silver, Gold, Diamond, and Master options. To pass the evaluation, traders must achieve a 10% profit target. The program enforces daily drawdown limits between 6% and 3% and overall drawdown limits ranging from 9% to 5%.
A minimum of 5 trading days is required, except for larger accounts, which require 10 days. The program includes a consistency rule, and leverage is set at 1:100. Sign-up fees range from $32 for the Mini account to $1,650 for the Master account, with no monthly fees, making it a cost-effective way to access significant trading capital.
TenTrade Review
Conditions
When it comes to trading conditions, TenTrade provides a framework that balances opportunity and risk management. Let’s dive into the specific conditions that TenTrade offers to its traders.
Drawdowns
TenTrade implements a two-tier drawdown system to manage risk effectively. The daily drawdown limit ranges from 3% to 6%, depending on the account size, with larger accounts having stricter limits. For instance, Micro to Silver accounts have a 6% daily limit, while Gold to Master accounts are capped at 3%. The maximum drawdown varies from 5% to 9%, again based on account size. Micro and Mini accounts have the highest tolerance at 9%, while the largest accounts (Gold, Diamond, and Master) are limited to 5%. This graduated system encourages responsible trading across all account levels, balancing risk management with profit potential.
Payouts
TenTrade offers an attractive profit-sharing model with a 70/30 split in favor of the trader. The standard payout cycle occurs every 15 days, allowing traders to access their earnings regularly. For high performers who achieve a 10% account increase, an accelerated payout option is available, providing quicker access to profits. The payout process is designed to be efficient, with most requests processed within 1 to 48 hours. While specific withdrawal methods aren’t detailed on the website, the system appears to be trader-friendly, focusing on prompt and regular profit distribution to keep traders motivated and engaged.
Trading Days
The trading day requirement at TenTrade is designed to encourage consistent trading activity while accommodating different account sizes. For accounts up to $90,000 (Micro, Mini, Bronze, Silver, Gold), a minimum of 5 trading days is required. Larger accounts ($270,000 Diamond and $500,000 Master) have a higher requirement of 10 trading days. This tiered system ensures that traders remain active and engaged with the markets, preventing sporadic or overly aggressive trading patterns. It strikes a balance between allowing flexibility for smaller accounts and demanding more consistent participation from those managing larger capital amounts.
Trading Strategies
TenTrade offers a flexible environment for various trading strategies, catering to different trader preferences. The platform allows the use of Expert Advisors (EAs), making it suitable for algorithmic traders. Traders can engage in a wide range of markets, including forex, commodities, indices, shares, NFTs, and crypto CFDs. There are no restrictions on holding trades over weekends, which is beneficial for swing traders or those employing longer-term strategies. Hedging is also supported, allowing multiple positions in the same instrument. However, high-frequency trading and arbitrage are prohibited to maintain market integrity. This balanced approach allows for strategic diversity while maintaining a fair trading environment.
Scaling Plan
The scaling plan at TenTrade provides an opportunity for successful traders to increase their account size based on performance. Available for accounts starting from $10,000, traders can scale up by achieving a 10% profit target. Traders can withdraw their profits bi-weekly (every 15 days). The maximum account size achievable through scaling is $500,000, offering significant growth potential. Once a trader achieves the 10% profit target, they can request to scale up to the next account size. For example, a trader with a $10,000 account who reaches $11,000 in equity can request to scale up to a $30,000 account. However, it’s important to note that once profits are withdrawn, the account becomes ineligible for further scaling. Traders must choose between withdrawing profits or scaling up their account size.
TenTrade Review
Features
| Maximum capital | $500,000 |
| Profit split | Up to 70% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | Yes |
| Free trial | No |
| Maximum leverage | 1:500 |
TenTrade provides a comprehensive set of features designed to support traders in maximizing their trading potential. Here’s a closer look at what they offer.
Trading Platforms
TenTrade offers the powerful MetaTrader 5 (MT5) platform for their traders. MT5 is a downloadable trading platform designed specifically for sophisticated Forex and futures trading. It provides a comprehensive suite of tools and features that cater to the needs of both novice and experienced traders.
With MT5, traders can analyze global markets using advanced charting tools and a wide range of technical indicators. The platform also supports the execution of advanced trading operations, allowing traders to implement complex strategies. Additionally, MT5 enables traders to run automated trading robots, known as Expert Advisors (EAs), which can help streamline and automate their trading processes. The platform also supports copy trading, allowing traders to mirror the trades of other successful investors.
Support Offered
TenTrade offers robust customer support designed to assist traders with their needs efficiently and effectively. Support is available 24 hours a day, five days a week, ensuring that traders can receive help during market hours. This support can be accessed through multiple channels, including live chat, phone, and email, providing flexibility and convenience for users. The personalized nature of TenTrade’s customer service means that traders can get tailored assistance, whether they are facing technical issues, have questions about trading strategies, or need guidance on using the platform’s features. This comprehensive support system is integral to helping traders navigate the trading environment smoothly and confidently.
Knowledge Base
TenTrade’s educational resource, TenAcademy, is a comprehensive platform designed to enhance traders’ knowledge and skills, catering to both beginners and experienced traders. It offers a range of resources, including webinars and structured courses led by experts, which cover various trading topics such as market dynamics, trading strategies, and technical analysis. The academy also provides a library of articles and educational materials aimed at improving traders’ understanding of market trends and analysis techniques. Additionally, TenAcademy offers coaching sessions for personalized guidance and delivers timely market news and analysis to keep traders informed about the latest financial developments. With self-paced learning options, traders can access educational content at their convenience, making TenAcademy a flexible and valuable tool for improving trading proficiency..
Execution Speed
TenTrade prides itself on providing stable and high-speed execution in the range of milliseconds. This fast execution speed is crucial for traders, particularly those employing strategies that rely on quick order fulfillment. By minimizing latency and ensuring rapid execution, TenTrade enables traders to take advantage of market opportunities and implement their strategies effectively.
Copy Trading Service
TenTrade offers a proprietary copy trading service, allowing less experienced traders to automatically replicate the trades of successful investors. This feature provides an opportunity for novice traders to learn and potentially profit from more experienced traders’ strategies.
Loyalty Program
TenTrade has implemented a unique loyalty program where traders can earn points as they trade. These points can be redeemed for premium rewards such as Apple products, VIP match access, trips to Dubai, or even the chance to drive a Ferrari. Alternatively, traders can convert their points into cash.
Affiliate Program
TenTrade offers an attractive Affiliate Partnership Program that provides numerous benefits to participants. Affiliates can earn generous commissions by referring new clients to the platform. They are provided with real-time tracking capabilities through a personalized dashboard, allowing them to monitor their performance and earnings. Additionally, affiliates gain access to a range of marketing materials and resources to support their promotional efforts.
TenTrade Review
Conclusion
In conclusion, TenTrade offers a solid platform for traders looking to leverage funded accounts with its Instant Funding and TenExpress Evaluation programs. The strengths lie in its flexible trading conditions, competitive profit splits, and the robust educational resources provided by TenAcademy. The use of MetaTrader 5 ensures a powerful trading experience with fast execution speeds. However, traders should be mindful of the drawdown limits and consistency rules, which require disciplined risk management. While the support is comprehensive, it’s always good to double-check any specific queries directly with TenTrade to ensure you have the latest information. Overall, TenTrade provides a supportive and resource-rich environment for traders aiming to grow their skills and capital.
TenTrade Review
