TenX Prime's PAMM System Offline for Over 15 Days, Investor Funds Trapped

Recently, multiple TenX Prime clients reported that the platform’s PAMM system suddenly malfunctioned earlier this month, preventing fund withdrawals. Although the platform claims its technical team is actively working on a fix, the issue has remained unresolved for over two weeks, heightening investor anxiety and frustration.

An investor, who invested $181,000 with the broker, is now seeking ways to recover his funds. He has been unable to access his account, with the platform citing that “the website is down.” Meanwhile, TenX Prime responded that its team is working to restore the system.

Another client, Ali, revealed that he had invested $6,100 through TenX Prime’s PAMM system when the system abruptly stopped responding on October 1. Initially, the company’s team informed him that the disruption was due to technical issues. However, as the days went by, the system remained inaccessible, and the responses from customer service grew increasingly brief and useless.

Weeks later, Ali remained unable to log into his account and received no explanation. Although he could still access the broker’s website as usual, the PAMM system remained inaccessible, displaying only a “Something went wrong” message.

Investor Syedomar is experiencing similar issues. He discovered that TenX Prime’s PAMM system had gone offline about two weeks ago. Although the staff initially estimated that repairs would take just two days, the problem remains unresolved to this day.

More alarmingly, TenX Prime falsely claims to be a licensed broker.

While TenX Prime (TenX Prime Ltd) is registered with the Financial Services Authority of Saint Vincent and the Grenadines (SVG FSA), BrokersView has repeatedly cautioned investors that the SVG FSA is not a forex regulatory body.

The platform claims to hold a financial services license issued by the South African Financial Sector Conduct Authority (FSCA), FSP 52035. However, according to FSCA's official records, this license actually belongs to another company with a distinct name, and its registered address does not match the information displayed on TenX Prime's website.

Additionally, TenX Prime was previously registered as an Australian financial services authorized representative with the Australian Securities and Investments Commission (ASIC). However, ASIC's published information indicates the company's registration status was terminated on August 15, 2023.

In other words, TenX Prime is an unregulated broker.

As of now, TenX Prime's homepage remains accessible, but the clients have not seen the restoration of its PAMM system.

BrokersView reminds you

To gain investor trust, many fraudulent forex brokers falsely claim or imply they are reputable, compliant financial firms.

To avoid falling into impostors' traps, investors are advised to verify regulated brokers' websites and regulatory status through BrokersView to ensure fund security.