10Xra is a Contract for Difference (CFD) broker founded in 2024, with its main operating company listed as 10Xra Pty Ltd according to its official website. The platform claims to offer users a variety of trading instruments, including forex, stocks, indices, precious metals, commodities, and cryptocurrencies.
Trading Software
The official website claims to use the mainstream MetaTrader 4 and MetaTrader 5 trading software. However, according to verification by the Traderknows research team, 10Xra's servers cannot be found in the MT4 and MT5 server lists.
Regulatory Information
Claimed Regulatory Status
The platform claims to be:
- Authorized and regulated by the Mauritius Financial Services Commission (FSC) as a "GBC" (Global Business Company) and an investment dealer.
- Its parent company ST 10xra LLC is registered with the Financial Services Authority of St. Vincent and the Grenadines (SVGFSA), registration number 228 LLC 2019.
- Also regulated by the Australian Securities and Investments Commission (ASIC), AFSL number 421210.
Actual Findings
- Upon investigation, the Mauritius FSC has no record of a regulated company named 10Xra Pty Ltd.
- The SVGFSA website shows that the registration number 228 LLC 2019 corresponds to a company named STARTRADER LLC.
- The ASIC website lists AFSL number 421210 as belonging to STARTRADER PRIME GLOBAL PTY LTD.
In other words, the platform's claims about its regulatory status are completely inconsistent with official records, severely lacking in credibility.
Contact Information and Social Media
Basic Contact Information
The contact information provided on the official website is: phone (+1 (914) 512-8485) and email ([email protected]).
Social Media
The official website does not list any official accounts on LinkedIn, Facebook, Instagram, Twitter, etc. For a broker claiming global operations, lacking a social media presence is highly unusual and makes it difficult for customers to verify the brand's authenticity.
Agency and Partnership Programs
White Label Partnerships
The platform claims to offer white label solutions to partners, including multi-bank liquidity, MT4/MT5 platform support, risk management, and marketing advice. However, neither the website nor external resources provide any case studies or partner feedback to prove the authenticity of this partnership model.
Referral Program
The official website claims it has professional branding and 15 years of experience, offering commissions and various marketing materials to referrers. However, this content is almost directly copied from the broker GO Markets' website.
Educational Resources
Overview of Educational Content
The official website lists extensive educational resources, such as "Introduction to Forex," "Margin Call Podcast," "Inner Circle Webinars," "Trading Strategies, Psychology," and claims to provide MT4 & MT5 Genesis tools and MetaTrader 4 video tutorials.
Actual Situation
Upon verification, these educational resources are also directly copied from the GO Markets website, and users find no substantial educational material when they attempt to access them.
Deposit and Withdrawal Methods and Address Veracity
Deposit and Withdrawal Channels
The official website claims to support multiple deposit and withdrawal methods, including Mastercard, Visa, Skrill, Neteller, Bank/Wire Transfer, Fasapay, among others. While these payment methods are not problematic in themselves, the lack of credible regulation and genuine user reviews leaves the safety of user funds uncertain.
False Address
The official website lists addresses including 53 Frith St, London W1D 4SN, UK, and Suite 103, 25 Elkhorn Avenue, SURFERS PARADISE QLD 4217, Australia. However, investigation has revealed that these addresses are used by other companies, with no relation to 10Xra. Disclosing false addresses is a common tactic used by fraudulent platforms to create an illusion of international presence and legitimacy.
Lack of User Reviews and Team Information
No User Reviews
There are no user reviews related to 10Xra available online, whether positive or negative, which is highly unusual. Most legitimate brokers, even those operating for a short time, usually have some level of discussion in social media or industry forums.
No Team Information
There is no information about the company's employees or management team in public records. This means investors are unable to assess the platform's background personnel and professional capabilities, further intensifying its suspicious nature.
Website Template and Traffic Data
Repetition of Scam Templates
The platform's website design template is strikingly similar to several known scam companies such as QZ Fx Mine, Optimal Trade Solution, Coin Wise markets. These platforms often launch quickly in batches, continuing scams under different guises.
Low Website Traffic
Well-known data analysis tool Semrush reveals that the platform's official website has less than 100 monthly visits. This extremely low level of traffic indicates that the website is virtually unused or unmonitored. A "global" broker lacking popularity and traffic indicates a major disparity with its promoted market positioning.
Account Types
The platform offers two types of accounts:
- 10Xra Plus+ Account: Leverage up to 500:1, spreads starting from 0.0, AU $3.00 commission per side per lot, supporting multiple base currencies.
- Standard Account: Also leverages up to 500:1, spreads starting from 1.0 pips, no commission.
In reality, the content of these account types is almost identical to that of GO Markets.
Overall Evaluation
The platform exhibits the following clear issues:
- No real regulatory qualifications, only fabricated and misused licenses.
- No real office address and team information; disclosed addresses and regulatory information are untrue.
- Website content, educational resources, account structure, agency policy, etc., are plagiarized from established broker GO Markets.
- No genuine user reviews and social media activities, almost no traffic.
- Uses the same website template as known fraudulent platforms, extremely low credibility.
These issues indicate that 10Xra does not exhibit the transparency and credibility expected of a legitimate broker, and it is very likely an empty shell scam platform.
