Below is a comprehensive analysis of Tenko Systems Limited, operating as TenkoFX (official website: https://tenkofx.com/), based on the requested criteria. The analysis covers online complaints, risk assessment, website security, WHOIS lookup, IP and hosting, social media presence, red flags, regulatory status, user precautions, potential brand confusion, and website content. Information is sourced from available data, including web reviews and public records, with critical evaluation of potential risks and discrepancies.

1. Online Complaint Information ¶

• Sources of Complaints:
• BrokersView reports issues such as platform disconnections on the mobile trading app, profit cancellations attributed to “bugs,” unresponsive customer support, difficulties in account closure, and monthly inactivity fees ($10/month for accounts dormant over 90 days). Traders also cite withdrawal processing delays, altered swap rates causing losses, and restricted website access.
• Forex Peace Army includes user reports of inability to withdraw funds, accounts disappearing from dashboards, and lack of support response since November 2023, with some users alleging bankruptcy or scam behavior. One user reported a $5,000+ loss due to inaccessible funds.
• ScamRecovery.net notes general dissatisfaction across social media and trading forums, suggesting TenkoFX is not trustworthy based on user feedback.
• Trustpilot has limited reviews (only three), with a 4-star rating, but lacks sufficient data for robust conclusions. Positive reviews mention good execution and services, but these are sparse and dated (2020).
• Myfxbook has mixed reviews, with some users praising ECN/STP accounts and execution, while others question reliability, especially after volatile trading days.
• Nature of Complaints:
• Common themes include withdrawal issues, poor customer support, and platform unreliability. More severe allegations involve potential insolvency or fraudulent practices, such as accepting deposits while failing to process withdrawals.
• Positive reviews exist but are often vague, lacking detail, and may be outdated, raising concerns about authenticity or selective feedback.
• Analysis:
• The volume and severity of complaints, particularly around fund access and support, suggest operational or ethical issues. The lack of recent positive feedback and reports of accounts vanishing are significant concerns. However, some positive reviews indicate that not all experiences are negative, possibly reflecting inconsistent service quality.

2. Risk Level Assessment ¶

• Risk Level: High
• Factors Contributing to Risk:
• Unregulated Status: TenkoFX is not regulated by reputable authorities as of March 2025, per Traders Union. Its previous Belize IFSC license (IFSC/60/349/TS/15) is revoked or considered offshore, offering minimal investor protection.
• User Complaints: Reports of withdrawal issues, profit cancellations, and potential insolvency indicate financial risk to traders.
• Lack of Transparency: Limited information on ownership, fund handling, and current operational status raises doubts about legitimacy.
• High Leverage: Offers leverage up to 1:500, which, while attractive, amplifies risk, especially for inexperienced traders.
• Inactivity Fees: Charging $10/month for dormant accounts is unusually high and may penalize users unfairly.
• Comparative Risk:
• Compared to brokers regulated by Tier-1 authorities (e.g., FCA, ASIC, CySEC), TenkoFX poses a significantly higher risk due to the absence of oversight, lack of investor compensation funds, and reported operational issues.

3. Website Security Tools ¶

• SSL/TLS Encryption:
• The website (https://tenkofx.com/) uses HTTPS, indicating SSL encryption. Some sources mention advanced SSL EV (Extended Validation) and SMS two-factor authentication for account logins, enhancing security.
• However, no recent independent audits (e.g., SSL Labs) are available to confirm the strength of encryption or certificate validity.
• Security Headers:
• No public data confirms the use of modern security headers (e.g., Content Security Policy, X-Frame-Options) to prevent vulnerabilities like cross-site scripting (XSS) or clickjacking.
• Vulnerability Reports:
• No specific reports of data breaches or hacking incidents are noted, but the lack of regulatory oversight increases the risk of unaddressed vulnerabilities.
• Analysis:
• Basic security measures (HTTPS, 2FA) are in place, but without third-party audits or transparency on security practices, the website’s robustness is questionable. Offshore brokers often lack stringent cybersecurity standards, increasing risks of data exposure.

4. WHOIS Lookup ¶

• Domain Information (based on Scamadviser and public WHOIS data):
• Registrar: DomainsByProxy.com (a privacy protection service), located at 14455 N. Hayden Road, Scottsdale, Arizona, USA.
• Registrant: Hidden due to privacy protection, a common practice but a red flag for transparency in financial services.
• Creation Date: Likely registered around or before 2012, aligning with TenkoFX’s establishment, but exact date is not publicly verified.
• Expiration Date: Not publicly disclosed, but domains using privacy services often obscure this to avoid scrutiny.
• Analysis:
• The use of DomainsByProxy.com hides ownership details, which is concerning for a financial broker where transparency is critical. Legitimate brokers typically provide clear ownership and contact information. This opacity aligns with offshore practices and increases distrust.

5. IP and Hosting Analysis ¶

• Hosting Provider:
• No specific hosting provider is detailed in the provided data, but offshore brokers often use providers in jurisdictions with lax regulations (e.g., Belize, Nevis).
• The website is likely hosted in a data center supporting high-traffic trading platforms, but no IP address or server location is publicly confirmed.
• IP Geolocation:
• The company’s registered address is in Nevis (Corner of Jews Street & Marion Avenue, Ramsbury Site, Charlestown), but the website’s server location may differ, potentially in a privacy-friendly jurisdiction.
• Analysis:
• Without precise IP or hosting data, it’s challenging to assess server security or reliability. The use of offshore jurisdictions for both company registration and potential hosting suggests a focus on minimizing regulatory scrutiny, a common tactic among high-risk brokers.

6. Social Media Presence ¶

• Active Platforms:
• Limited information on current social media activity. ScamRecovery.net mentions reviews on platforms like Facebook, Twitter, and Instagram, but these are primarily negative and dated.
• No official, verified social media accounts are prominently listed on the TenkoFX website or recent reviews, suggesting minimal or abandoned presence.
• Engagement:
• Older reviews (2018–2020) indicate some engagement, but recent complaints about unresponsive support and website access issues suggest reduced activity.
• Analysis:
• A lack of active, verified social media presence is a red flag for a broker, as legitimate firms typically maintain robust channels for client communication and updates. The absence of recent activity may indicate operational decline or intentional withdrawal from public scrutiny.

7. Red Flags and Potential Risk Indicators ¶

• Regulatory Issues:
• Previously licensed by the Belize IFSC (IFSC/60/349/TS/15), but the license is revoked or considered offshore, offering no meaningful protection. As of March 2025, TenkoFX is unregulated by reputable authorities.
• Claims of FCA regulation are unverified and likely false, as no evidence supports this.
• Operational Concerns:
• Reports of accounts disappearing, MT4 platform failures, and inability to withdraw funds suggest potential insolvency or fraudulent practices.
• High minimum deposit ($25,000 for some accounts) is unusual for retail brokers and may deter smaller traders while targeting high-value clients for potential exploitation.
• Transparency Issues:
• Hidden ownership via DomainsByProxy.com and lack of clear fund handling details erode trust.
• Inconsistent information on regulatory status across reviews (some claim IFSC regulation, others confirm none).
• User Experience:
• Complaints about unresponsive support, profit cancellations, and inactivity fees indicate poor client treatment.
• Positive reviews are sparse, dated, and lack specificity, raising suspicions of manipulation.
• Analysis:
• Multiple red flags—unregulated status, withdrawal issues, hidden ownership, and high fees—point to a high-risk broker. The combination of operational complaints and lack of transparency suggests potential scam behavior or severe mismanagement.

8. Website Content Analysis ¶

• Content Overview:
• The website (https://tenkofx.com/) promotes forex, CFD, and cryptocurrency trading with ECN/STP accounts, MetaTrader 4, and tools like AutoTrade, charting, and calculators. It emphasizes “flawless execution” and “transparency.”
• Offers 68 currency pairs, metals, futures, CFDs, stocks, and cryptocurrencies (e.g., Bitcoin, Ethereum). Leverage up to 1:500 and floating/fixed spreads are highlighted.
• Claims regulation by the Belize IFSC, but this is outdated or revoked.
• Legal documents (client agreement, risk disclosure) are available, detailing high-risk trading and leverage terms.
• Tone and Claims:
• The tone is professional, emphasizing reliability and advanced tools, but claims of “strict regulation” and “transparency” are misleading given the unregulated status.
• Marketing phrases like “world’s best trading platforms” and “preferred by forex traders” lack substantiation and appear exaggerated.
• Red Flags in Content:
• Outdated or false regulatory claims (Belize IFSC license revoked).
• Lack of clear fund protection details (e.g., segregated accounts are mentioned but not verified).
• High minimum deposit ($25,000 for some accounts) is buried in fine print, potentially misleading retail traders.
• Analysis:
• The website presents a polished front but contains misleading claims about regulation and transparency. The lack of verifiable fund security details and high entry barriers suggest it targets less cautious investors. Content aligns with offshore brokers’ tactics to appear legitimate while obscuring risks.

9. Regulatory Status ¶

• Current Status: Unregulated as of March 2025.
• Historical Regulation:
• Previously licensed by the Belize IFSC (IFSC/60/349/TS/15), but this is revoked or considered offshore, offering no investor protection. Belize regulation is lax compared to Tier-1 regulators (FCA, ASIC, CySEC).
• Claims of FCA regulation are unverified and likely false.
• Implications:
• No oversight means no legal recourse for traders if funds are lost. No investor compensation fund exists, unlike FCA or CySEC-regulated brokers.
• Offshore regulation (even when active) often correlates with higher scam risks due to minimal audits and enforcement.
• Analysis:
• The lack of reputable regulation is a critical risk factor. Traders have no legal protection, and the revoked Belize license further undermines credibility. False regulatory claims suggest intentional deception.

10. User Precautions ¶

• Recommended Actions:
• Avoid Trading: Given the unregulated status, withdrawal issues, and potential insolvency, traders should avoid TenkoFX unless they accept high risks with no legal recourse.
• Verify Regulation: Always check a broker’s license directly with regulators (e.g., IFSC, FCA) rather than trusting website claims.
• Use Demo Accounts: Test the platform with a demo account to assess reliability without risking funds.
• Research Reviews: Cross-reference recent user reviews on platforms like Forex Peace Army, Trustpilot, and BrokersView, but be wary of overly positive or vague feedback.
• Secure Funds: If trading, use secure payment methods (e.g., credit cards) for potential chargeback options, and avoid large deposits.
• Monitor Activity: Regularly check account access and withdrawal functionality, as reports suggest sudden account losses.
• Analysis:
• Traders must exercise extreme caution due to the high risk of fund loss. Thorough due diligence and minimal financial exposure are essential if engaging with TenkoFX.

11. Potential Brand Confusion ¶

• Similar Brands:
• No direct evidence of intentional brand confusion with other brokers, but the name “TenkoFX” is generic enough to be mistaken for other forex brokers, especially those with “FX” suffixes (e.g., RoboForex, FXTM).
• The website’s professional design and MetaTrader 4 offering mimic reputable brokers, potentially misleading novice traders.
• Domain Risks:
• The use of DomainsByProxy.com for WHOIS privacy could allow bad actors to create similar domains (e.g., tenkofx.net, tenkofx.org) for phishing or scams, though no such cases are reported.
• Analysis:
• While no explicit brand confusion is documented, the generic branding and professional website could exploit trust in established brokers. Traders should verify the exact domain (https://tenkofx.com/) and avoid similar-looking sites.

12. Conclusion and Recommendations ¶

• Summary:
• TenkoFX (Tenko Systems Limited) presents significant risks due to its unregulated status, numerous user complaints (withdrawal issues, platform failures, potential insolvency), and lack of transparency (hidden ownership, misleading regulatory claims).
• Website security appears adequate (HTTPS, 2FA), but without audits, it’s not robust. WHOIS privacy and offshore hosting raise further concerns.
• Social media presence is minimal, and red flags include high fees, high leverage, and operational inconsistencies.
• The website’s polished content contrasts with its risky profile, potentially luring unsuspecting traders.
• Risk Rating: High – Unsuitable for most traders, especially those prioritizing safety and legal protection.
• Recommendations:
• Avoid trading with TenkoFX unless you are a high-risk-tolerant investor with thorough due diligence.
• Choose brokers regulated by Tier-1 authorities (FCA, ASIC, CySEC) for better fund protection.
• If considering TenkoFX, use a demo account, limit deposits, and monitor account activity closely.
• Report any issues to platforms like MyChargeBack for potential fund recovery.

Note ¶

This analysis is based on available data as of April 22, 2025, and reflects critical evaluation of sources. Always verify broker status directly with regulators and consult recent user reviews before trading. Forex trading carries inherent risks, and unregulated brokers amplify these dangers. If you need further details or analysis of specific aspects, let me know!