TradingBanks Review

TradingBanks Review: A Flawless Forex Brokerage Platform

 

Our search for reliable forex brokers has now led us to TradingBanks.com. Launched in 2015, it is comparatively new to forex sector but, at the same time, is backed by a group of professionals having decades of experience in the finance industry. So does it still TradingBanks manage to impress us with its services and features? Let’s check out!

 

Introduction and Regulation

TradingBanks enables clients to access a variety of financial instruments, including forex, commodities, spot metals and CFDs of indices, stocks, commodities and energies. As we checked, the broker has already listed over 250 financial trading instruments, including the highly accessed ones like EUR/USD, Gold, Silver, Facebook, Apple, etc.

To make sure they are what they say, we also went though their legal compliance records and found them to be registered with Malta Financial Services Authority (MFSA). Their compliance with a national regulator indicates their seriousness towards protecting clients from insolvency and dozen other uninvited troubles. For traders, it a safe green signal when it comes to signing up at TradingBanks.

 

Account Details

Leaving the usual demo account aside, TradingBanks offers four types of trading accounts to suit multiple needs. In their increasing order, the account are referred as Regular, Silver, Gold and Platinum. While each of this account comes with a dedicated mobile trading platform, as well as daily analysis reports, an account manager, 0.01 minimum lots size, and 24 hour support system, where they all differ is: minimum deposits, spreads, maximum account size limits and leverage options. Here is a table to explain it better:

 

Regular Silver Gold Platinum
Minimum Deposit 250 USD 5,000 USD 20,000 USD 100,000 USD
Spreads Floating Floating Fixed Fixed
Maximum Account Size Limits 4,999 USD 19,999 USD 99,999 USD
Leverage 1:400 1:400 1:100 1:100

 

 

The Margin Call Level for all the accounts is 50 percent, while the stop-out level is 25 percent.

 

Trading Platforms

When it comes to trading platforms, TradingBanks has candies for all. The broker offers trading platform for desktop traders, web traders, as well as for smartphone-based traders. It somewhat helps a client access his position anytime, anywhere. The trading platforms available at Trading Banks are:

 

  • MetaTrader 4 for Desktop and Mobile
  • WebTrader for Web and Mobile
  • TB Tablet Trader for Android and iOS tablets
  • TB Android Trader for Android smartphone users
  • TB iPhone Trader for iOS smartphone users

 

Each of the aforementioned trading platform comes with lively and interactive tools to assist traders impeccably. Some of them include: live rate tickers, real time charts, trade management features, built-in social trading, indicators, etc.

 

Education Material

As we noted, TradingBanks has put a huge focus on its educational material. The forex broker’s education tools cover everything from eBooks to beginner’s course to trading strategies to trading tools. It is great section that can help novice traders build up great knowledge to channelize it further on daly trading strategies.

 

Customer Support

TradingBanks’ customer support can be reached via live chat, phone and email and is available throughout ten counties. Unlike its competitors, TradingBanks also offer a special callback service to ensure better experience for clients.

 

Verdict

TradingBanks is taking sincere first steps towards establishing itself as a reliable and transparent forex brand. We liked their clarity of subjects, features and services, and even the way they responded to their clients’ queries. The trading service provider has an enthusiasm to serve its clients. And we believe it will stay alive as they grow further.

 

Overall, a good platform. Please give it a try.