To be honest, this review on required a lot of concentration on our end. It is rare to see a broker site or binary option robot that is quite as comprehensive and sleek, yet so simple as 10markets. The basic premise of 10markets is that they offer sophisticated web-based retail money market trading that is also extremely user-friendly. While conducting this review, we focused solely on the concept involving binary trading. However, one can find a great deal of information on the MetaTrader4 or Forex platforms as well. A plus is that 10Markets is also a supporter of our site.
Online since: 2014
Software: Panda TS
Max Returns: 83%
Minimum Deposit: $200
Minimum Investment: $10
Maximum Investment: $2500
Currencies: USD, EUR, GBP
Countries: All nations excl. USA
– Panda TS software
– Offers Multiple Options to Trade
– Offers Demo account
– Withdrawals takes 4-5 days
7 Binary Options Rating:
10Markets Special features
10markets offers three basic and one premium account. For the purpose of this review, we used the Standard account. Throughout the remainder of our review, we will detail the other available account options, as well as our overall experience. We shall focus only on those details that are related to the binary options market.
10markets Classic Account
- minimum deposit of $200
- account manager
- limited access to tutorial videos
10markets Standard Account
- minimum deposit of $2500
- account manager
- additional assets
- access to additional educational videos
10markets Premium Account
- minimum deposit of $20,000
- account manager
- unlimited access to video tutorials
- full access to assets.
A unique feature of 10markets is a 10markets Tailor Made account that is designed according to the customer’s specifications. As their platforms are extremely diverse, 10markets as the ability to cater to their customers’ needs. Most of the benefits of 10markets is centered upon their unique trading platform, so we shall review their software in the following section.
10Markets Trading software
As previously stated, 10markets is a multi-tied trading platforms that gives its traders access to money markets multiple platforms. Traders can utilize Forex (online or via MetaTrader), CFDs, and most importantly, for our review, binary trading. They also have a wide variety of trading platforms available for mobile devices. The login process is pretty fast. Users are automatically directed to the “My” section of the 10markets site. This is where it gets a bit tricky, as users need to be able to navigate back to the 10markets homepage. Despite this, the My.10markets control panel is very user friendly and well-designed.
The 10markets binary trading platform is the typical online platform and is provided by Panda TS. We are pleased that the platform is full screen and displays the graphs in the center of the page. On the left of the Homepage, traders can select either Hype (60 seconds) one-touch, range or high/lower binary options depending on their specific preference. Expiry times vary from thirty seconds to ten minutes (short-term) and fifteen minutes to ten hours for high/low trades. Traders have the ability to choose the either end of day or end of week as the expiry time. Along the bottom of the page, traders have the ability to view the latest trades, as well as the current winnings. There are 6 stocks, 6 indices, 4 commodities and 24 forex pairs. It should be noted that there are less of these available on the binary options platform however.
In our review of 10markets, we discovered that they offer a nice selection of financial analysis tools. It offers a financial calculator as well as our favorite feature, which is the binary options economic calendar. Side note to the trader, 10markets refers to this feature as the financial calendar. This feature is useful for those traders that like to trade as soon as the data is made available as well as those who prefer to make their trades when the markets move, as the projections and outcomes are updated. In this section, 10markets also features advanced tools for portfolio management and organization as well as a current market clock. We feel that it would be helpful if more tolls of this type were available on the average basic binary options trading platforms.
10Markets Support information
10Markets supports have a live chat feature as well as a customer service phone hotline and email/webform in order to communicate with their binary options brokers. They also claim that there support is available around the clock. However, if you notice where the phone numbers are displayed the time is listed as 10:00-18:00 Monday-Friday (UK). We attempted to contact this number at 9:07 London time and could not reach anyone for over ten minutes so we believe that the above hours are sincere.
10Markets Banking and company information
We are disappointed to report that 10markets has a limited number of ways to make deposits. The only options offered are the standard Visa, MasterCard and bank wire options. For the purpose of our review, we utilized the credit card option. The minimum trade is $10 and the minimum deposit required is $200.This gives the trader a minimum of 20 trades with the lowest deposits. In our opinion this is a very good deal.
The withdrawal process takes 2-5 days. In order for this to be processed we were required to fill out and scan the form and submit it with the remained of the specified documents. We didn’t mind the extra steps, however, as we were well pleased with our overall experience of 10markets. This being said, we were not happy that the minimum deposit required for withdrawals is $100. But on a good note, there are no withdrawal fees. 10markets accounts are accessible in USD, GBP and Euro accounts.
10Markets Review Conclusion
In conclusion, we feel that 10Markets is a viable platform for overall financial trading, and more specifically for binary options trading. 10Markets offers a variety of features and account types. We do hope that some of the features utilized on the Homepage will soon be available on the binary options trading platform. We also wish their customer service were more readily available. However, overall we were very satisfied with 10markets and would highly recommend this platform for binary options traders.
Customer Service: Live Chat / Email: [email protected]
Languages: English, Russian, Arabic
Trading Options: High / Low, One Touch, 60seconds, Range Options
Early close: Yes
Expiry Times: 30 sec, 60 sec, 2min, 5min, 15 min, 30 min, 1 hr, 10hr, End of Day, End of Week
Deposits and Withdrawals: Visa, Mastercard, Bank Wire
Withdrawal Time: 4 – 5 day
Demo account: Yes
References and Further Reading:
- Managing retail channel overstock: markdown money and return policies (Andy A. Tsay-2001)
- Demand Curves and the Pricing of Money Management (Susan E. K. Christoffersen and David K. Musto-2002)
- Herzberg’s motivation-hygiene theory and job satisfaction in the malaysian retail sector: the mediating effect of love of money (Tan, Teck Hong and Waheed, Amna-2011)
- Investment Decisions Depend on Portfolio Disclosures (David K. Musto-1999)
- Lollipop Jobs for Pin Money? Retail Employment Explored (Michelle S. Lowe and Louise Crewe-1991)
- On the Sluggish Response of Prices to Money in an Inventory-Theoretic Model of Money (Demand Fernando Alvarez, Andrew Atkeson, Chris Edmond-2003)
- The dynamics of technological change in UK retail banking services: An evolutionary perspective (Davide Consoli-2005)
- Automatic instant money transfer machine (Carl Raymond Amos-2003)
- Using Store Music For Retail Zoning: a Field Experiment (Richard F. Yalch, Eric Spangenberg-1993)
- Retail Bank Deposit Pricing: An Intertemporal Asset Pricing Approach (David E. Hutchison-1995)
- Bank concentration and retail interest rates (Sandrine Corvoisier, Reint Gropp-2002)
- Money and price level determination in China (Gregory C Chow-1987)
- SADC Trade with the Rest of the World: Winning Export Sectors and Revealed Comparative Advantage Ratios (Nicole Valentine, Gena Krasnik-2000)
- Legendary brands: unleashing the power of storytelling to create a winning marketing strategy (Laurence Vincent-2002)
- The Spatial Economy: Cities, Regions, and International Trade (Masahisa Fujita, Paul R. Krugman, Anthony J. Venables-2001)
- Trade Like a Hedge Fund: 20 Successful Uncorrelated Strategies and Techniques to Winning Profits (James Altucher-2011)
- Does the seed size/number trade-off model determine plant community structure? An assessment of the model mechanisms and their generality (Michelle R. Leishman-2011)
- Developing Countries and General Agreement on Tariffs and Trade/World Trade Organization Dispute Settlement (Marc L. Busch, Eric Reinhardt-2003)
- Do Investors Trade Too Much? (Terrance Odean-1998)
- Winning Solutions (Edward Lozansky, Cecil Rousseau- 2012)
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