Summary
TenX Prime (tenxprime.com) is an online trading platform that boasts about being under the supervision of several authorities. An independent verification process reveals that its Australian AR status has been revoked, the references to its South African FSCA license are inconsistent, and the only registration that can be verified is the offshore one in Saint Vincent & the Grenadines – a jurisdiction notorious for not offering substantial brokerage regulation. The website has a large number of user complaints regarding frozen accounts and difficulties in withdrawing money, and thus, it has a low rating on Trustpilot. We present the findings, risks, and next steps in a summary below.
What TenX Prime claims – and what checks show
Claimed regulation vs. verified status
- Claimed: TenX Prime is said to be operating under the name of TenX Prime Pty Ltd as an Authorized Representative (AR) under ASIC supervision.
- Reality: The records of ASIC reveal that the AR/registration has been canceled, and the company’s Australian registration status was announced by ASIC for cancellation.
- Claimed: TenX Prime has a South African FSCA license mentioned on its website.
- Reality: The license number indicated in public FSCA registry checks and broker-watch investigations is either no longer linked to TenX Prime or is not consistent with it, leading to the conclusion that the claim cannot be substantiated.
- Claim: There is only one corporate listing that can be verified without doubt – that of the company in Saint Vincent & the Grenadines (SVG) authorities
- Facts: Registration in SVG is mentioned, but the SVGFSA/company registry is not synonymous with a solid brokerage or investor-protection license.
Website and domain status
The website tenxprime.com was registered in 2021, and the latest inspections indicate the site has been offline at times, and some parts of the service were also reported to be unavailable. Investors have indicated through various forums and complaints that they could not gain access to the investor portal.
Quick risk checklist
- Is the broker recognized in the official regulator’s registry (ASIC, FCA, FSCA, etc.) with the same legal entity name and license number?
- Does the regulator’s website show the license as current (not ceased, suspended, or deregistered)?
- Are there recent and numerous withdrawal complaints?
- Is the company’s address and phone number reliable and consistent across the documents?
- Is the company located in a tax haven where forex regulation is almost nonexistent?
Think of the platform as high risk if you said “no” to either of the first two questions.
FAQs
Q: Is TenX Prime currently regulated by ASIC or FSCA?
A: According to public checks, TenX Prime’s authorization in Australia has been canceled/deregistered, and the references by FSCA are either withdrawn or inconsistent; thus, these regulators do not have any clearly active license for the company.
Q: Can I get my money back if TenX Prime blocks withdrawals?
A: The recovery proceeds depending on the payment method you used, the jurisdiction you are in, and whether you have proof of unauthorized or fraudulent activities. Report to your bank, payment provider, and local regulator, and think about using the services of a professional recovery firm.
Q: Is it sufficient to only register in Saint Vincent & the Grenadines?
A: No, SVG company registration is nothing like a major market-regulated brokerage license and offers very little investor protection.
Closing & what we offer
In case you suspect that your money is lost in TenX Prime or if you need help with all the necessary steps to verify its licenses and recover your assets, contact us now. We are the ones to contact for professional claims support and funds recovery assistance. Your documentation will be reviewed, regulator records will be verified, and you will be advised on the next steps.
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