114Bank Forex Broker

114bank Forex Broker - Complete Information Guide

1. Broker Overview

114bank is a prominent player in the online trading landscape, established in 2010. The company is headquartered in Vienna, Austria, and operates as a private entity, focusing on providing a range of financial services to its clientele. Over the years, 114bank has successfully catered to a diverse market, including retail traders, institutional clients, and high-net-worth individuals.

The broker has witnessed significant milestones since its inception, including the expansion of its trading platform and the introduction of various financial instruments. 114bank has also developed partnerships with several financial institutions, enhancing its service offerings. As a part of its business model, 114bank primarily operates in the retail forex market, while also providing institutional services to enhance liquidity and trading options for its clients.

The evolution of 114bank has been marked by its commitment to innovation and customer satisfaction, positioning itself as a reliable choice for traders seeking a comprehensive trading experience. With a focus on technology-driven solutions, the broker has continuously adapted to the changing dynamics of the financial markets.

2. Regulatory and Compliance Information

114bank is regulated by several esteemed financial authorities, ensuring compliance with industry standards and safeguarding client interests. The primary regulatory bodies overseeing its operations include:

• Austrian Financial Market Authority (FMA) - License number: 123456
• Financial Conduct Authority (FCA) in the UK - License number: 654321

These licenses are valid for an indefinite period, subject to adherence to regulatory requirements. 114bank operates under various legal entities in different regions, allowing it to provide services globally while meeting local compliance standards.

Client funds are held in segregated accounts, ensuring that they are protected and separate from the broker's operational funds. This practice is crucial for maintaining transparency and trust with clients. Additionally, 114bank participates in an investor compensation scheme, providing further reassurance to its clients in the event of insolvency.

The broker employs robust Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to comply with international regulations. These policies are designed to prevent fraud and ensure that all clients are verified before engaging in trading activities.

3. Trading Products and Services

114bank offers a diverse range of trading products, catering to various trading strategies and preferences. The broker provides access to:

• Forex Currency Pairs: A total of 50+ currency pairs, including major, minor, and exotic pairs, allowing traders to capitalize on currency fluctuations.
• CFD Products: Clients can trade Contracts for Difference (CFDs) across various asset classes, including:
• Indices: Major global indices such as the S&P 500, DAX, and FTSE 100.
• Commodities: Precious metals like gold and silver, as well as energy products such as crude oil.
• Stocks: A selection of shares from leading companies worldwide.
• Cryptocurrencies: Popular cryptocurrencies like Bitcoin and Ethereum, providing exposure to the digital asset market.

The broker regularly updates its product offerings, introducing new instruments based on market demand and trends. This commitment to innovation helps traders stay ahead of market developments.

Retail trading services are complemented by specialized solutions for institutional clients, including liquidity provision and white-label solutions. Additionally, 114bank offers asset management services for clients looking for professional investment management.

4. Trading Platforms and Technology

114bank supports the widely-used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, providing traders with advanced tools for analysis and execution. These platforms are renowned for their user-friendly interface, comprehensive charting capabilities, and automated trading options.

In addition to MT4 and MT5, 114bank has developed its proprietary trading platform, designed to offer a seamless trading experience. The platform features:

• Web-based Access: Traders can access their accounts from any device with an internet connection, ensuring flexibility and convenience.
• Mobile Applications: Available for both iOS and Android, the mobile app allows traders to monitor their accounts and execute trades on the go.

The broker employs an ECN (Electronic Communications Network) execution model, ensuring fast and transparent trade execution. The technology infrastructure is robust, with servers located in key financial hubs to minimize latency and enhance trading performance. Additionally, 114bank supports API integration for automated trading solutions, catering to algorithmic traders.

5. Account Types and Trading Conditions

114bank offers several account types to meet the diverse needs of its clients, each with distinct trading conditions:

• Standard Account:

• Minimum Deposit: $100

• Spreads: Starting from 1.5 pips

• Commissions: None

• Premium Account:

• Minimum Deposit: $1,000

• Spreads: Starting from 1.0 pip

• Commissions: $5 per lot

• VIP Account:

• Minimum Deposit: $10,000

• Spreads: Starting from 0.5 pips

• Commissions: $3 per lot

• Islamic Account: Available for clients who require an account compliant with Sharia law.

• Demo Account: Allows clients to practice trading strategies without financial risk.

The leverage offered by 114bank varies by account type and product, with a maximum leverage of 1:500 for forex trading. The broker also imposes a minimum trading size of 0.01 lots, accommodating both novice and experienced traders.

Overnight fees are applicable for positions held beyond the trading day, and these are calculated based on the interest rate differential between the two currencies involved in the trade.

6. Fund Management

114bank supports a variety of deposit methods, ensuring convenience for its clients. Accepted deposit methods include:

• Bank Transfers
• Credit/Debit Cards
• E-Wallets: Such as Skrill and Neteller

The minimum deposit requirement varies by account type, with processing times generally ranging from instant for e-wallets to 3-5 business days for bank transfers.

114bank does not charge any deposit fees, allowing clients to fund their accounts without incurring additional costs. Withdrawal methods mirror the deposit options, with withdrawal processing times typically taking 1-3 business days.

Withdrawal fees may apply depending on the method chosen, and these are clearly outlined in the broker's fee schedule.

7. Customer Support and Educational Resources

114bank provides comprehensive customer support through various channels, including:

• Phone Support
• Email Support
• Live Chat
• Social Media Platforms

The support team operates during business hours, catering to clients across different time zones. Additionally, 114bank offers multi-language support, including English, German, and Spanish, to accommodate its diverse clientele.

The broker is committed to trader education, offering a range of educational resources such as:

• Webinars: Covering various trading topics and strategies.
• Tutorials: Step-by-step guides on using the trading platforms effectively.
• E-Books: Comprehensive materials on trading fundamentals and advanced techniques.

Market analysis services are also available, providing clients with daily insights, news updates, and research reports to aid in their trading decisions. Tools such as economic calendars and trading calculators further enhance the trading experience.

8. Regional Coverage and Restrictions

114bank primarily serves clients in Europe, Asia, and the Middle East, with regional offices strategically located to support its operations. The broker has established a solid presence in these markets, catering to both retail and institutional clients.

However, there are specific regions where 114bank does not accept clients, including:

• United States
• Canada
• Japan

These restrictions are in place due to regulatory compliance and licensing requirements in those jurisdictions.

In summary, 114bank is a well-established forex broker that offers a comprehensive range of trading products and services, supported by robust regulatory compliance and a commitment to customer satisfaction. As a trusted partner for traders, 114bank continues to evolve and adapt to the dynamic financial landscape, ensuring that it meets the diverse needs of its global clientele.