Forex Blogs TenkoFX representative blog by Max Vladov

Max Vladov

Hi all,

My name is Max Vladov. I hold vice president position in TenkoFX. I will be managing UNOFFICIAL public communication on FPA. Why unofficial? Because, some of my comments might sound unpleasant, unethical, intolerant or harsh. I can assure you, though, that they will be much more telling, educative and I hope entertaining, than dry, tasteless, but legally clean statements that often times do not disclose the core problem of any dispute.
Watch for my further posts. Your feedback will be appreciated.
Tenkofx is big fraud company. Their ECN account is not pure ECN, when they found client's making profit, immediately they put virutal plugin and even trades in profit, while close it, will close with loss, Stay way from this thieves.
Tenkofx is big fraud company. Their ECN account is not pure ECN, when they found client's making profit, immediately they put virutal plugin and even trades in profit, while close it, will close with loss, Stay way from this thieves.

Dear reader, I believe that you are much more educated and reasonable to differentiate junk posters like Winner Forex. No matter which broker you are reviewing, don't ever trust tarnishing and unsubstantial posts like this one. Any opinion good or bad has to be well argumented, otherwise no constructive debate is possible. Going forward I will not be responding to posts like this one. It is simply junk.
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in reference to thread "fake spikes by TenkoFX"
I would like to thank asstmod for pointing out to rules that stipulate how FPA manages the Scam Alert threads. This is absolutely necessary as it, indeed, creates incentives for the company to engage, defend itself and most importantly, find acceptable solution to the cases. Without these rules it will simply become one-sided beating of the broker, or a mere blackmailing campaign, in which case companies would simply ignore the issues. I believe that every FPA moderator should be doing the same. I wish we knew about these rules earlier, in which case we wouldn't have missed response time qualifications.

International Financial Services Commission IS VIRTUAL AGENCY, NOT EXIST ANYMORE..

These are virtually made to cheat people or they are formed to help the frauds like tenkofx to cheat people and make people beleive that they are regulated. In Truth Tenkofx is formed to steal money from people.

This agency never respond mail. Stay away from Tenkofrauds and this ifsc is fake
Talking about the “virtuality” of IFSC. There are always things that clients don’t like and companies don’t like as well. So, IFSC just as any another regulator is facing a dilemma of striking a right balance.

I have seen clients complaining of IFSC is being unresponsive to their claims. Well, let me say that it is a great blessing that IFSC ignores absurdly filed claims. It happens very often that clients don’t even bother explaining what difficulties they are facing, clients don’t contact the company for any preliminary resolution, they directly hit IFSC complain without giving any details for reasonable consideration – no names, no credentials, no screenshots, no order records nothing.

Even if IFSC reacts we can’t even identify the client on our side. Guys (those who feel oppressed) you have to learn to use your legal protection rights correctly. All it takes, is to follow a simple steps.

1. Contact the company first. Give it a change to look at your problem first as per internal dispute resolutions process. Oftentimes, all these emotions are a result of misunderstanding or lack of knowledge.

2. Proceed to file IFSC claim on the basis of company’s feedback. Believe me, if company replies absurd bla bla bla IFSC (just as any other regulator) will undoubtedly get into action.
I'm sure that many complaints to regulators prove to be unfounded. On the other hand, the biggest thing I've seen the Belize IFSC do is to throw a company out.

Can you cite any instances of the IFSC stepping in to order a company to pay money owed to a trader or imposing a fine on a company?
Hi Pharaoh,

I can assure everyone that IFSC does react to reasonable claims. This is from our experience. As I said earlier some clients hysterically hit IFSC even with insignificant issues, which could be solved much faster with the broker. Priority #1 is to inform the broker (any broker you work with) of any problems. The company might not be even aware of problems that the client is facing due to complexity of IT systems.

Now, talking about the IFSC stripping a company of a license. One shouldn’t think that it is an easy thing to digest. This is a biggest fine that you could only impose on a company. This is a complete disaster to a company. If you license gets revoked, the banks and all payment systems will shut down company’s accounts. Liquidity providers will also stop working with you. Other license that a company might have get negatively impacted. Well, it is an nuclear bomb, which is again not good for the clients themselves. Ultimately, with any dispute every client is concerned with getting their money back. In my opinion, license revocation is a last step that any regulator should take.

Having said this, it is probably needs to be noted that the biggest preventive factor that a regulator has is not to grant a license in the first place. I guess for this reason IFSC is about to raise the capital requirement to 500K USD (most likely will happen this year), currently relatively to other regulators it is rather low - 100K USD. This will be a big move I believe. Inevitably there will be a number of exits from Belize. We intend to stay, at least for the next 2 years.
Hi FPA Team, we have noticed a very unpleasant occurrence that positive client feedbacks are not being published on TenkoFX review page. We have decided to ask our long term clients to post feedback on us. We don’t see them appearing for more than a week now. While junk negative feedback from non-existent clients (as the one published on 2016-02-21) are being published much faster. Could you kindly explain this phenomenon.

Please ask any client who reports a missing review to go here...

From October 2014 until now, the number if rejected positive reviews is equal to the number of rejected negative reviews. There have only been 2 rejected reviews in 2016, one positive and one negative. If any reviewer who was rejected follows the instructions in the link I gave, one of my moderators will explain the reason to that person.

Reviews are usually approve or rejected. It is rare for reviews to be held back.. When the review moderator follows one unapproved review to the page, all reviews in the queue are displayed. If there is more than one unapproved review on the page, t's much more efficient to process all queued reviews for one page than to just process the oldest one and come back later for the next one. Occasionally, a specific review gets held back and marked for my personal attention. There are currently no reviews in the queue for TenkoFx.