Breaking: TenX Prime Shuts Down Website, Triggering Panic as Client Funds Vanish

Since late September, TenX Prime clients have reported sudden failures in the platform's PAMM system, preventing account access and restricting withdrawals. For weeks afterward, the issue remained unresolved while customer service claimed the technical team was "working diligently to resolve this matter."

However, instead of a system restoration, clients discovered this week that TenX Prime had quietly shut down its website.

When the PAMM system first crashed in late September, TenX Prime assured clients it was merely a "temporary technical issue," promising the tech team was working diligently on a fix. On October 13, the investor David received an email from the platform stating the system would be restored by the end of that week (before October 19). Earlier in October, TenX Prime also assured another client that the system would be restored within two days.

However, BrokersView's investigation revealed that TenX Prime never fulfilled these promises. Throughout this October, clients remained unable to access their PAMM accounts, with the number of investors facing the same problem steadily increasing and related complaints mounting.

More alarmingly, a client reported that Chris Anderson, a TenX Prime account manager known as "Chris Gold Father," has not responded to any messages since October 6.

Ultimately, the worst thing happened—TenX Prime abruptly shut down its website this week. Investors who had been waiting for system recovery and hoping to access their funds now find it nearly impossible to recoup their losses.

Multiple investors have shared their experiences of being defrauded by TenX Prime through BrokersView. The total reported losses by these investors exceed $466,000, with one individual losing as much as $181,000.

BrokersView reminds you

TenX Prime is a typical example of an illegal forex broker. As early as August 2023, the platform lost its status as an authorized representative of the Australian Securities and Investments Commission (ASIC) and has since failed to obtain any license from financial regulators. More alarmingly, TenX Prime misused information from a legitimate company to fabricate a compliant identity, misleading investors.

Some investors mistakenly believed that TenX Prime's registration with the Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) constituted valid financial authorization. However, BrokersView has repeatedly cautioned that the SVG FSA is not a forex regulator.

To avoid falling into traps set by such fraudulent platforms, BrokersView advises investors to verify a broker's regulatory status and official website information through legitimate channels to safeguard their funds.