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87/ 100
Type of Broker: CFDs, Forex, ECN
Regulated: Regulation not stated
Min Deposit: $22
Min Trade Amount: 0.01 lots
US Clients:
Number of Assets: 200+
Leverage: 1:400
Free Demo Account:
Trading Platform: MT4|Mobile|Tablet|WebTrader
Types of assets: CFDs|Forex|Precious Metals|Shares|Indices|Commodities
Payment METHOD NAME Charge Time

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Full Review

TradingBanks is a CFDs and Spot Forex contracts trading brand owned and operated by ST World Trade Inc., which is subsidiary to a financial services company authorized and regulated to trade on financial markets including hedging, markets arbitrage, risk management and speculation.

TradingBanks headquarters are located at Vanterpool Plaza, Wickhams Cay I Road Town, Tortola, British Virgin Islands, and the broker is categorized as an ECN. The company claims to be a subsidiary of a highly regulated financial services company, but there is no specific information with regard to the parent, or the regulatory authorities.

Promotions and Account Types

TradingBanks has not stated whether it offers any bonuses or promotions at the moment, but that does not rule out future promotions. Traders can choose between the four account types, which are determined by the level of deposit. There are also institutional accounts for institutions looking to open accounts with the ECN broker.

Regular Account: This is the smallest account type at TradingBanks and it requires a minimum deposit of $250. The account type is characterized by the following features: minimum lot size of 0.01, floating spreads, access to all trading platforms (MT4, TB Mobile, TB WebTrader and TB Tablet), Daily Analysis, Account Manager and 24 hour support.

Silver Account: This account type is for intermediate traders and it requires traders to deposit at least $5,000 in their trading accounts. Its features are similar to the ones enjoyed by Regular Account holders.

Gold Account: This is the most popular account type at TradingBanks, and traders are required to deposit a minimum of $20,000. Some of the main unique features about this account type are that traders enjoy tight fixed spreads, Free VPS and Free bank wire, alongside the rest of the features enjoyed by Silver Account holders.

Platinum Account: This is the most senior account type for individual investors and traders get to enjoy similar features to those listed under Gold Account. However, the minimum deposit for this account type is $100,000.

Trading Instruments

Traders at TradingBanks can trade in more than 200 instruments, which include Forex Currencies, CFDs, Commodities and Metals.

Forex/Currencies: Here traders can expect to trade in over 50 currency pairs including all the majors, minors, and exotics. All majors feature tight spreads of 0.8 pips 1.0 pip fixed for Gold and Platinum accounts, and 1.2 pips to 2.0 pips floating for Regular and Silver Accounts.

Precious Metals: Traders get to trade Spot Gold and Spot silver contracts. Leverage for these ranges from 1:100 to 1:400 depending on level of deposit. Spot Gold is also available in all account types as CFD, and it attracts a spread of $0.45.

CFDs (Contracts for Differences): Here traders can trade in a variety of asset types including shares, indices, currencies and future commodities. Some of the spot and futures contracts include wheat, coffee, sugar, corn, copper, and spot gold and Brent oil. As for Indices, traders can trade FTSE, Dow, NASDAQ, Nikkei 225, and DAX, while shares feature strong brands such as Apple, Amazon, Facebook and Alibaba among others.

Trading Platforms and Resources

At TradingBanks, traders are well equipped to trade from wherever they are, as the broker offers a variety of trading platforms.

The MetaTrader 4, desktop: This is the primary trading platforms, and it comes loaded with a range of trading tools and resources including access to breaking news, technical indicator and charting tools. Traders can also access to EAs and install custom indicators on the platform.

TB Tablet, TB Android and TB iPhone: TradingBanks has ensured that even when you are on the go and regardless of whether your device runs on Android OS or Apple’s iOS, you can easily continue trading on your mobile device.

TB WebTrader: This is for those who prefer to trade via the web platform rather than downloading and installing the MT4 platform. The TB WebTrader also features various charting tools and information resources that can help a trader towards making the right decisions.

This broker has also developed web-based trading tools and information materials including economic and financial calendars, training videos and webinars, eBooks and trading courses as well as, news and analysis sections.

Deposits and Withdrawals

Traders at TradingBanks can deposit and withdraw funds in their trading accounts via Wire Transfer, Credit/Debit Card (Visa & MasterCard), CashU, PaySafeCard, WebMoney, Moneta.ru, Yandex Money, Skrill (MoneyBookers), UnionPay, and AliPay.

The minimum deposit amount is $22 for Moneta.ru deposits, while the maximum is $4,300. The minimum for PaySafeCard is $100, while the maximum is set at $1,000. Other forms have no limits, while Skrill and Credit/Debit card deposits have varying limits.

Most of the methods also accept three currency types, including GBP, EUR and USD, while others accept, either one of the them or two.

TradingBanks charges no fees or commissions on transactions. Client funds are kept in segregated bank accounts in some of the leading banks in the world for security purposes.

Traders must verify their identities/physical addresses and credit card information where applicable depending on payment method chosen, in order to make a withdrawal.

Support

Traders at TradingBanks can contact support via Telephone, Email, Call-Back Request, Contact Form, or Live Chat.

Live Chat: 24/7 Live support

Email: [email protected] plus others for various departments/enquiry types.

Telephone: 85258194891 plus several others for various satellite offices.