TenX Circle review 2026: Fixed 10x reward on a $20 to $500 entry fee, 6% static drawdown, sign-up on Ouinex
TenX Circle is a proprietary trading program run by TenX Capital Inc, a Marshall Islands company whose website went live in July 2026. Traders pay $20 to $500 to trade a simulated $5,000 to $50,000 account and must log 7 days of at least 2.5% realised gain inside a 6% static equity drawdown. A pass pays a fixed reward of 10 times the fee in USDT or USDC.
What is TenX Circle?
TenX Circle is a paid trading challenge sold by TenX Capital Inc, a company incorporated in the Marshall Islands. The terms name that entity as the operator, while the website footer reads "TENX CAPITAL LTD", a mismatch the firm does not explain. No registration number or street address is published. The tenxcircle.com domain was registered on 15 July 2026. The program had run for about three months on the scan date of 21 October 2026.
The product is a single-stage challenge, a paid test in which the trader must hit set targets on a practice account. Four tiers run from a $5,000 to a $50,000 simulated account. A pass does not open a funded account with a profit share. It pays a fixed reward of 10 times the entry fee, which the terms define as 10 percent of the simulated capital.
Where do TenX Circle rewards actually come from?
The reward is paid by TenX from its own funds, not from trading profit, according to the program terms (scan date 2026-10-21). The simulated capital "has no monetary value" and cannot be withdrawn. A pass credits the reward to a Claim Balance, which the trader moves as USDT or USDC into a wallet on the Ouinex platform. Identity checks, or KYC (Know Your Customer verification), are required before any withdrawal from that wallet.
The terms state no processing time for withdrawals and allow delays for compliance reasons. TenX may also withhold a reward for "compliance or integrity" reasons, and confirmed prohibited conduct leads to permanent forfeiture of unclaimed rewards. The firm publishes no total-paid figure and no payout proofs. Because the reward is a fixed liability funded by fee income, its payment depends on the operator's cash position rather than on any trade.
What trading platform does the program use?
Trading runs on a proprietary platform branded Ouinex, with TradingView charts built in. The terminal offers limit, stop and OCO orders (one-cancels-the-other), several take-profit levels and automatic break-even stops. Instruments listed on the site include crypto perpetual futures, forex, commodities, stocks and stock indices. MT4 and MT5 (MetaTrader 4 and 5) are not offered, so traders cannot move existing MetaTrader tools or indicators to the program.
Red flags and warning signs
Several findings point to elevated risk for anyone paying an entry fee. Each item below comes from the firm's own documents or a regulator's public list.
- Platform on a regulator list: France's AMF (Autorité des marchés financiers) added ouinex.com to its crypto blacklist on 12 June 2026 (source: AMF blacklist, 12 June 2026). The reason given is services offered without French authorisation. The entry concerns the Ouinex platform, not TenX, but sign-up and the reward wallet run there.
- Offshore operator: the operator is a Marshall Islands company with no published registration number or address.
- No payout record: no payout counter, proofs or user reviews exist for the program.
- Broad withholding rights: rewards can be withheld or forfeited at the firm's discretion for suspected misconduct.
- Marketing claims: the site says the program is "backed by a regulated exchange" but names no regulator and no licence number.
What does a challenge cost?
Entry fees range from $20 to $500, and each fee buys one 30-day attempt. The table below lists the four tiers as published on the scan date.
| Tier | Simulated account | Entry fee | Fixed reward on pass |
|---|---|---|---|
| Bronze | $5,000 | $20 | $200 |
| Silver | $10,000 | $100 | $1,000 |
| Gold | $25,000 | $250 | $2,500 |
| Platinum | $50,000 | $500 | $5,000 |
A pass requires 7 qualifying days, cumulative net profit above zero and no rule breach within the 30-day window. A qualifying day is a Paris-time calendar day with closed, realised profit of at least 2.5 percent of that day's opening balance. The single loss limit is a static drawdown of 6 percent of starting capital, measured on equity (open and closed results together). The floor never trails upward, and touching it ends the attempt at once. Exposure is capped at 500 percent of current equity across all positions, which equals leverage of about 1:5.
These two numbers interact. On the $10,000 Silver account, a qualifying day needs about $250 of realised profit, while the equity floor sits at $9,400. At full 500 percent exposure, a 0.5 percent favourable move produces one qualifying day. A 1.2 percent adverse move at the same size reaches the floor and ends the attempt.
The entry fee is non-refundable. A 14-day withdrawal right applies only until the first simulated trade under that program.
Has the platform been flagged by regulators?
France's AMF lists ouinex.com on its blacklist of crypto service providers, added on 12 June 2026. The entry states that the site "offers financial services or products without being authorized" (source: AMF blacklist, 12 June 2026). Norway's Finanstilsynet repeats the same entry in its 2026 investor alerts, naming France as the issuer. FXSharp found no regulator action naming TenX Capital Inc itself on the scan date. The AMF entry concerns authorisation in France and does not allege fraud.
The program terms state that Ouinex is not TenX's parent, owner or operator. Even so, a TenX participant registers on tenxcircle.ouinex.com and holds rewards in a Ouinex wallet. Ouinex lists four entities on its own site:
- Global Markets LLC, Saint Vincent and the Grenadines, for most users
- Inzuzo Financial Services (Pty) Ltd, South Africa, described as an FSCA intermediary under FSP 54742
- Trade Tech AU Pty Ltd, Australia, described as an AUSTRAC digital currency exchange registrant
- Trading International S.A. de C.V., El Salvador, described as a Bitcoin service provider
FXSharp could not confirm the South African or Australian entries on the regulators' public registers on the scan date. The Saint Vincent entity is a company registration. The SVG FSA (Saint Vincent and the Grenadines Financial Services Authority) states that it does not regulate forex trading.
What do traders say about payouts?
The program has no user-aggregate rating: its review profile showed 0 reviews on 21 October 2026. The Ouinex platform holds a 4.6/5 user-aggregate rating from 44 reviews (scan date 2026-10-21). With no payout history on record, the program's payout reliability cannot be measured yet.
How to verify the claims for yourself
Each claim on the site can be checked against a public source before any fee is paid.
- Search the AMF blacklist and your own country's regulator warning list for "ouinex" and "TenX".
- Ask TenX for the registration number of TenX Capital Inc and check it with the Marshall Islands registry.
- Search the FSCA register for FSP 54742 and the AUSTRAC register for the Australian entity named on the Ouinex site.
- Read the terms sections on prohibited conduct, forfeiture and withdrawals before the first trade.
- Look for independent reports of rewards actually received, with dates and amounts.
Where is TenX Circle actually registered?
The operator is registered in the Marshall Islands, and the terms choose Marshall Islands law with exclusive jurisdiction for its courts. A dispute therefore runs through that legal system unless local consumer law gives the trader another route. The Marshall Islands company register is a corporate filing, not financial supervision. A technology provider, Trade Tech FZCO in Dubai, is named with licence number 31392, but the terms do not name the issuing authority.
Sponsor broker disclosure (or lack of one)
No sponsor broker, the licensed firm that would execute or mirror a trader's orders, stands behind the program. Accounts are simulated from start to finish, and the reward is a fixed payment from TenX. A trader therefore has no broker-level protection, such as segregated client money, a compensation scheme or a regulator to complain to. The entry fee and any unclaimed reward remain a claim against TenX Capital Inc alone.
Recovery options if you've already paid
Routes depend on how the fee was paid and where the trader lives. A fee paid by card can be disputed with the card issuer within the time limit set by the card scheme. Crypto payments have no chargeback route. Complaints go first to the firm's support address, which targets a reply within 30 calendar days. A complaint can also go to the trader's national financial regulator or consumer authority, citing the AMF entry for ouinex.com.
Is TenX Circle safe? Honest assessment
TenX Circle sells a low-priced challenge with clearly written pass rules. They set 7 qualifying days, a 6 percent static equity floor and a 500 percent exposure cap. The weak points sit outside the rulebook. The operator is a three-month-old Marshall Islands company, and rewards sit in a wallet on a platform that France's AMF lists as unauthorised in France. No broker, payout record or user reviews back the reward promise. For a $20 to $500 fee, the outcome turns on whether TenX pays and releases the wallet balance. No public evidence confirms that yet.
Prop firm challenges carry a non-refundable fee in most programs. Passing the evaluation is not guaranteed, and the funded stage is a simulated account whose payouts depend on the firm's continued solvency and policy. This content is for information only, not investment advice. Verify the firm's current rules, sponsor broker disclosure and any open regulator actions on its official site and on the relevant authority's official register before paying any challenge fee.
FXSharp is an independent site that reviews forex brokers and prop trading firms. Every license is checked on the regulator's own register, every score follows our published methodology, and no broker can pay for a higher rating.
