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10Brokers: typical scammer with greed for money

More and more people are getting interested in trading. Before entering the market, professional traders and newbies surf the internet in the search of a reliable broker. However, they are usually puzzled by a tsunami of offers from different brokerage firms. Sometimes traders come across some brokers that are little known among market participants as they do not attract the target audience through contextual advertising as well as other well-known commercial tricks. Such brokers have their own methods that quite often work even better. They come up with other advertising tricks– simple but appealing. As a rule, in their arsenal they have employees with the gift of persuasion and sweet-talking. Their websites contain a minimum of information about trading conditions and etc. but they are full of luring and mind-boggling promises. They guarantee instant success and a big profit. Naturally, there is no information about the license. 10Brokers is exactly that type of a broker.

About company

10 Brokers is a relatively young company founded in 2017. It is mainly focused on trading with the world`s major financial floors. Its website is translated into several languages, including Arabic. According to some sources, the company’s head office is located in Estonia. However, the company does not provide any information about its location in the contacts section. The broker also omitted information about its licensee. It seems that 10 Brokers is an unauthorized broker that cannot prove the reliability and quality of its services. Besides, the fact that the company is not controlled by any financial regulator should worry potential clients. Thus, it is safe to say that this broker is another scammer that gives empty promises.

Clients can only contact the broker by phone (the phone number is specified on the website).There are no other contacts. So, traders should take it into account if they want to cooperate with 10Brokers.

Curiously enough, in the "why us" section the broker guarantees security, reliability, and stability of the company. However, there is no supporting documentation, only worlds. The risk warranty section raises even more questions.

"You acknowledge and agree that in case you cause us Damage* by any action on your part, you will be obliged to pay us a penalty(in addition to the damage without further proof) in the amount of $5,000. Moreover, you should note that you may be subject to legal action and possibly liable for any damages incurred by us and by any other third party due to such actions".

*Damage – any kind of damage, including, direct and indirect damages, loss of profits, and damages due to falsely applying for a refund (i.e. in cases where we were not in fault that should have entitled you to a refund).

Judging by these conditions, any action of a trader with an aim to make a profit by trading with the broker may be interpreted as damage to 10Brokers.

The broker offers advanced trading tools, a lot of popular assets, useful Internet resources, and attractive trading conditions, including low spreads, flexible leverage, and no commissions.

Trading conditions

After logging in to the personal account, clients are indeed offered beneficial conditions for trading: the initial deposit from $50, unlimited orders starting from zero pips. Nevertheless, the website lacks any detailed information about trading conditions. Before trading, it is advisable to contact the support service and clarify the details.

In the "accounts" section, the broker provides comprehensive information on each account type. The standard account can be opened with any initial deposit. Clients get access to the standard account if they have personal account and risk managers.

10Brokers` scam scheme

Someone from of 10 Brokers staff members calls a trader who has been fooled out of money and offers her/him help allegedly to return the stolen money. They also ask a symbolic payment for their work – a 10% commission. Usually, traders or potential victims agree to the offer without any suspicion.

Next, traders will receive a package of documents required for signing. When everything is done, clients wait for the return of their lost funds to the specified credit card’s requisites. Imagine how buffed traders are when the funds from their credit card have been withdrawn by 10Brokers.

The so-called lawyer of the company stays in touch with the client and explains that such a measure is necessary. The withdrawn money and the deposit will be returned after the refund procedure is completed. Naturally, traders receive nothing. Funds taken from the credit card disappeared along with the deposit. After that, traders cannot contact any staff member.

Notably, this fraudulent scheme is fairly popular among scammers. Swindlers such as 10Brokers make money on traders whom they or other similar fraudlers have already deceived once.

Natalia Nevskaya, 25.10.2018
I was cheated by 10Brokers twice. I was not going to trade. I was told to open an account and transfer money to it and then they promised to return my missing deposit. However, the money I replenished was somehow transferred directly to the 10Broker.com. I managed to get back half of my deposit. A little bit later my account was hacked. I received an email about changing my password. The broker did not stop on that. This fraudulent enterprise opened deals from my account, took loans. The support service doesn`t reply to my emails. I do not know what to do. I dread to think about the consequences.

Polites, 19.04.2018
Where could I find the phone number and contacts of 10Brokers? I have already been waiting for a call back for two months.

Helen, 03.05.2019
You will never get an answer from these scammers.

How do the so-called lawyers find deceived traders?

As a rule, scammers know well the company the deceived traders worked with, how much money was stolen from them, and they also have their contact details. The most staggering thing is that 10Brokers can pull off a con not only with its own duped clients but also with clients of other similar companies. Quite often such dubious enterprises exchange with each other their clients’ personal data and contacts. Traders should be aware that they have the right to contact law enforcement agencies if something similar happens to them.

Scammers offer their help to refund the deposit on websites where there are a lot of negative traders’ reviews. They leave their contact details and offer legal assistance. However, in reality, they prepare another well-planned trap for once fooled and desperate traders.

Leonid, 12.12.2018
10 Brokers is a scam broker that workers with other fraudsters like Della registered in Cyprus. Employees of both companies work together in the same office. When 10Brokers informs you that it will return your money soon, it actually means that the broker will transfer your deposit to Della. Your personal manager will spill on you an ocean of comforting words why your money cannot be transferred directly to your credit card or bank account. Then, you receive a call from Della. Its "lawyers" offer you aid to return your money back for a modest 10% commission from the fund. If you eat the bait, they get your money and disappear. They change their contact numbers and the support service will ignore you.

Helen, 15.10.2019
I don`t know what to do! I lost more than $1,300. I did everything in my power to bring to justice this scammer. I contacted the police, used a chargeback, and hired an attorney. However, I achieved nothing. I only lost even more. At the moment, I am writing exposing articles about these scammers. However, they do not care about it and continue with their shenanigans. I suspect that banks might be also involved in its schemes. I have three loans and a mortgage on my house because of this knave. I hope they will get what they deserve.

Svetlana, 10.11.2019
Could you tell me please where exactly did you go after being cheated? I contacted the police immediately. However, it has been a year and the investigation did not budge an inch. I gave the officers the screenshots, contact numbers, emails, voice messages and even the phone number these rascals used to plunged the Any desk program. Still, the police officers did nothing. Maybe we should work together. We could contact the TV or demand more actions from the police. No man is an island.

Hica, 7.06.2019
10Brokers scams traders out of a large amount of money and even ask them to take loans for that. To lull traders’ vigilance, the broker allows to withdrawing a small sum of money from the account. When the deposit starts to increase, traders cannot take back their deposit due to the problems with the website connection and other various reasons. The support service does not answer. Its staff members may offer traders help with money withdrawal and ask for personal data such as credit cards or e-wallets. As a result, they get money from traders’ credit cards and naturally do not return money from the trading account.

Iniz 10.06.2019
10Brokers is a sham company similar to Trade5000. I deposited €6,000 to my trading account. When my deposit rose to €15,000, the broker simply withdrew money from my account as I allegedly refused to pay off commission. This is how these scammers work!

Conclusion

10Brokers is a scam broker greedy for easy financial gain. Trading with this broker may lead not only to the deposit loss but also to other financial problems. Do not let luring but dubious promises cloud your mind. All this broker wants is your money.

The majority of people who had "pleasure" to cooperate with this broker call it a crooked enterprise. They warn traders to stay away from the broker and not repeat their mistakes. After making a deposit, traders will never get it back. Victims of this broker also notice that it is a stroke of a pure luck if a trader has just lost the deposit and no money has been withdrawn from the credit card. Therefore, under no circumstances should you sign any documents received from a lawyer.

This document gives fraudsters legal permission to withdraw money from the credit card bypassing 3D SECURE and without any notification.

The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
Author: Vaidotas | วันที่  2021-02-23
I am just relieved that I did not link my bank account to my trading account at 10Brokers. I used my e-wallet which had a small remaining balance. I don't keep a lot of money there for security. After depositing money to 10Brokers. they took all the remaining balance from my e-wallet without my permission. If it was my bank card, they probably would have stolen from it too.
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Author: Richie | วันที่  2021-02-11
I have been fooled by a different broker before I was fooled by 10Brokers. They offered to help me retrieve the money that I lost from my previous broker and all I had to do was pay them assistance fee. I took it because $200 was way cheaper than hiring a lawyer. Sadly, 10Brokers was another fraud and I lost money again.
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Author: Mayoto | วันที่  2021-02-05
You cannot blame us for wanting to invest on something where we could grow our money. I was naive, and I may have lacked knowledge but all the blame must be placed on the people behind 10Brokers. I genuinely trusted them and all they did was betray us. Now I am afraid to try any other company already.
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Author: Mycaella | วันที่  2021-01-25
It is good that 10Brokers had finally stopped operating. I was so worried back then because despite the issue, the broker was still able to attract clients. They were making their way through by saying that the negative feedback were only from their competitors. But in the end, the truth still prevailed and they should be punished for this deception.
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ผู้แต่งของ 10brokers_typical_scammer_with_greed_for_money: Renanda | วันที่  2021-02-15
Honestly, I opened an account with them just a few weeks before they completely shut down. I disregarded all the negative feedback because their representative sounded trustworthy when I talked to her. I got persuaded easily and I know that this was a careless mistake and I regret it so much.
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Author: Natanael | วันที่  2021-01-13
When a broker calls you and suddenly offers you with benefits that are too good to be true, chances are it is. Do not be lured by those false promises. This is exactly what 10Brokers did and look what it is now. It turned out to be a fraud broker whose aim was solely to attract investors then run away with their money.
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Author: Itzel | วันที่  2021-01-04
I was already warned about dealing with young brokers but I never listened and still invested with 10Brokers because in my mind, I will be one of the first traders of an emerging company. Now, instead of progressing, I lost $3000. I should have just listened to their warnings and chose a more established company.
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ผู้แต่งของ 10brokers_typical_scammer_with_greed_for_money: Yamil | วันที่  2021-01-20
This is one of the dangers of cooperating with new companies. As much as we want to believe that they have great potential and that we will get great offers since they are still starting, there is still the fact that these young companies are mostly the fraudsters. Like this broker, they attracted clients and took all the investment with them.
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Author: Lexus | วันที่  2020-12-30
To be honest, I am completely afraid to get back to Forex trading already. I feel like one way or another, I will only end up dealing with a fraud. Before 10Brokers, I was already deceived by another fraud broker. Then 10Brokers suddenly came pretending to rescue us, victims. During that time, all I wanted was to get my money back so I took the offered help. I deposited $200 for the cost that the retrieval process would incur. After depositing the money, the broker dismissed me. I couldn't understand at first what was happening but then I soon realized that I was once again deceived. And I also realized how odd it was for another broker to contact me and offer help right after being defrauded.
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Author: Marcei | วันที่  2020-12-22
You really can't trust a startup financial company. I am not saying that this is true to all companies because there are really some startup companies that offer legitimate services. But in the case of 10Brokers, they are new and they are using it as an excuse to justify the lack of regulation. Now, as it turned out, the company was a fraud.
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Author: Danette | วันที่  2020-12-16
There is no denying that 10Brokers is a fraud. Their website looks suspicious to begin with. There are a few information that should have been on the website but are not. Mostly, these are the proof that the broker really does honest business. I also can't blame the victims for believing this broker because their employees have great sales skills. They sounded professional and encouraging. No wonder people easily believed them.
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Author: Anshuman | วันที่  2020-12-11
When I saw 10Brokers, I immediately knew that they could not be trusted. My brother introduced this broker to me as he was interested in opening an account with them. They had lucrative offers which explains how they were able to attract many clients. But their website lacks many information. For instance, they do not have an address indicated which is suspicious. A financial company must have at least a main office if they really intend to provide honest services.
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