10xfd claims to be a CFD broker founded in 2006, but actual evidence shows clear misrepresentation. Its official website domain, 10xfd.com, was registered on May 25, 2023, and was acquired by the current team for use as the website on January 25, 2024. Obviously, the platform's historical authenticity is questionable.
Trading Instruments
The platform claims to offer a variety of CFD trading instruments, including forex, stocks, indices, precious metals, commodities, and cryptocurrencies. The website states that over 350 trading tools are available to meet the needs of different investors.
Trading Platform
The official site claims to use MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as its trading platforms, supporting both mobile and web platforms.
However, after verification by the TraderKnows team, no information about 10xfd Pty Ltd was found in the MT4 and MT5 server lists, which contradicts the platform's claims.
4. Account Types
The platform offers two account types:
10xfd Plus+ Account
- Leverage up to 500:1
- Spreads starting from 0.0 pips
- AU $3.00 commission per round turn
Standard Account
- Leverage up to 500:1
- Spreads starting from 1.0 pips
- No commission per round turn
The description of these two account types is directly copied from the GO Markets website.
Educational Resources
The platform provides educational resources including:
- Forex Trading Introductory Course: Basic educational content designed for beginners.
- Margin Call Podcast: Discusses trends and challenges in the forex industry through podcasts.
- Webinars and Psychology Articles: Help traders enhance their skills.
Although the educational resources appear extensive, these contents have not been supported by real user reviews, making it difficult to determine the actual quality of the educational services.
Regulatory Information
The platform claims its operating entity, 10xfd Pty Ltd, is a GBC authorized and regulated by the Financial Services Commission Mauritius (FSC) as an investment dealer (full-service dealer excluding underwriting).
However, investigations show that no registration record of the company is found on the official website of the Financial Services Commission Mauritius (FSC).
Website and Branding Issues
Website Traffic
According to Semrush data, the 10xfd website has an average monthly traffic of less than 100 visits, indicating almost no one uses the platform. This contrasts sharply with its claim of being a "global leading broker."
Website Template
The platform's website design matches that of several known scam platforms such as QZ Fx Mine and Optimal Trade Solution, indicating it may be one of the mass-produced scam platforms.
Social Media
Although the website displays multiple social media icons, the platform has not actually set up any social media accounts. This behavior is extremely rare among legitimate brokers, further exposing its suspicious nature.
Operating Address
The official website claims its headquarters address is 3556 E Austin St, Giddings, Texas, 78942, United States. However, Google Maps shows that the address is actually a hotel named "Giddings Executive Inn" located between Austin and Houston. Clearly, 10xfd has provided a false company address.
Deposit and Withdrawal Methods
The official website shows support for Mastercard, Visa, Skrill, Neteller, and other payment methods. However, it does not specify whether these payment methods ensure the safety of user funds. Given the company's lack of regulatory protection, users' funds face substantial risk.
User Reviews and Brand Awareness
No user reviews about 10xfd can be found online. At the same time, there is no news about the platform in public channels. For a broker claiming to be global, this lack of presence is extremely unusual.
Agency Policy
The platform offers two agency plans:
- White Label Program: Claims to provide partners with branded MT4 and MT5 platforms, along with comprehensive infrastructure support.
- Referral Program: Emphasizes high commissions and traffic sharing but lacks specific details and transparency. This policy seems more like a marketing ploy to attract unsuspecting users.
Risk Report
Based on the above information, the platform exhibits the following risk characteristics:
- False Founding Date: Domain registration information reveals the false advertisement of the platform's founding date.
- Fabricated Regulatory Information: Fabricates false regulatory information to mislead users' trust.
- Low Website Traffic: Less than 100 visits, showing the platform's extremely low usage rate.
- Website Template Issue: Shares design templates with known scam platforms.
- Lack of User Feedback: Complete absence of user reviews or brand exposure, further diminishing credibility.
- False Company Address: Provides a false company address, which is actually a hotel.
10xfd lacks a genuine operational and regulatory foundation, presenting a high-risk platform. Investors are advised to avoid this platform to prevent financial loss.
