TenX Prime

TenX Prime is an online forex and CFD broker founded in October 2021 and headquartered in Saint Vincent and the Grenadines. The company, legally named TenX Prime LTD, is registered at Suite 305, Griffith Corporate Centre, Kingstown. It markets itself as an 'exceeded broker' offering a wide range of tradable instruments including currencies, metals, energies, and cryptocurrencies.

The broker operates primarily through the MetaTrader 4 (MT4) platform, a widely used trading interface. Its offering includes 35 currency pairs, gold, silver, three energy products (e.g., crude oil), and 30 cryptocurrencies, with leverage up to 1:500. TenX Prime also runs a PAMM (Percentage Allocation Money Management) program, which has been a subject of controversy among users.

TenX Prime holds a single regulatory license from the Financial Sector Conduct Authority (FSCA) of South Africa, under a Derivatives Trading License (EP) with number 52035. The FSCA is a Tier-2 regulator. It is important to note that the broker's primary registration is in Saint Vincent and the Grenadines, a jurisdiction known for light oversight. While the FSCA license provides some level of oversight, it does not guarantee the same protections as regulation by top-tier authorities like the FCA or ASIC.

The broker's registration address in SVG and the fact that it employs zero staff according to available records may raise questions about its operational substance. Traders should verify the validity of the FSCA license through the regulator's official register.

TenX Prime offers a single account type called 'TenX MT4', designed for the MetaTrader 4 platform. The minimum deposit is $25, making it accessible to retail traders. Maximum leverage varies by instrument: up to 1:500 for major forex pairs, 1:100 for ZARJPY, 1:200 for metals, 1:100 for energies, and 1:25 for cryptocurrencies. The broker advertises spreads starting from 0.1 pips with no commission, meaning costs are built into the spread.

The account supports trading in 35 forex pairs, gold and silver, 3 energy products, and 30 cryptocurrencies. MT4 is available for desktop, web, and mobile devices, offering standard charting tools and automated trading capabilities through Expert Advisors (EAs).

TenX Prime accepts deposits and withdrawals via two methods: Bitcoin (BTC) and VISA. The minimum deposit is $25. The broker does not disclose minimum withdrawal amounts, processing times, or fees on its website. Traders should be aware that crypto deposits may involve network fees and volatility.

User reports suggest that while a few withdrawals have been processed, many clients have experienced significant delays or complete inability to access funds. This is particularly concerning given the high number of complaints categorized as scam-related.

TenX Prime provides customer support via email, but there is no mention of live chat or phone support. According to aggregated industry data, the broker has a Trustpilot score of 1.5/5 based on 38 reviews, and the FXCanary Scam Risk Score is 46/100 (Guarded). There are 43 withdrawal-related complaints logged, and 20 scam concerns. These figures indicate a high level of dissatisfaction among users.

Common complaints include the investor portal becoming inaccessible, automatic closure of support tickets, and unresponsiveness during withdrawal issues. Several reviews specifically name PAMM managers 'Chris Anderson' and 'Paul' as being involved in alleged fraudulent activities.

Given the broker's high-risk profile and numerous unresolved complaints, TenX Prime may not be suitable for traders seeking a trustworthy and regulated environment. The cheap minimum deposit and high leverage could appeal to speculative traders willing to take significant risks, but the withdrawal issues and scam allegations make it a dangerous choice for long-term investment.

Traders who prioritize fund safety and reliable access to their capital should avoid this broker. Those considering PAMM accounts should be especially cautious, as many reviews detail large losses and claims of fraud.