Investing Banks Forex Broker

Investing Banks Review SummaryFounded2023Registered Country/RegionCyprusRegulationNo regulationMarket InstrumentsForex, commodities, indices, futures, stocks and cryptocurrenciesDemo Account❌Islamic Account✅EUR/USD Spread/LeverageUp to 1:500Trading PlatformWebTraderMin Deposit€250Customer SupportMon - Fri 9.00 - 20.30Tel: +39 350 923 7499Email: contact@investing.banks.com; kyc@investing-banks.comSocial media: Facebook, Twitter, Skype, LinkedInAddress: 7 Florinis StrGreg Tower, 2nd Floor 1065 NicosiaMore contact details for branch offices: https://investing-banks.com/gb/contact.htmlInvesting Banks Information Investing Banks originated in Cyprus and claims to have been operating for more than 20 years. It now has four offices around the world: Cyprus, Spain, Germany and Greece. There are many tradable instruments, including forex, commodities, indices, futures, stocks and cryptos. You can choose from four tiered accounts for living trading, with a minimum deposit of €250. In addition, the broker does not charge handling fees for deposit or withdrawals, and it implements negative balance protection to ensure you will not lose more than you have deposited. However, the broker currently operates without valid regulation from authority bodies, which degrade its legitimacy and reliability.Pros and ConsPros Cons Negative balance protectionNo regulationDiverse tradable asset classesUnclear fee structureTiered live accountsNot MT4/5Free deposit and withdrawalsHigh minimum depositLimited withdrawal methodsRegulatory Status Regulation is a crucial aspect of evaluating the legitimacy and reliability of a brokerage firm, and in the case of Investing Banks, the broker operates without any valid regulatory oversight. The absence of a regulatory framework raises huge concerns regarding the broker's adherence to industry standards, financial transparency, and the protection of client interests.What Can I Trade on Investing Banks?Tradable Instruments Supported Forex✔Commodities✔Indices✔Stocks✔Cryptocurrencies✔Bonds❌Options❌ETFs❌Account Type/Fee Investing Banks offers four different live accounts: Standard, Professional, Business and Business Plus accounts, with increasing minimum deposit requirements of €250, €10,000, €30,000 and €100,000 respectively. Notably, you will get deposit bonuses from 30% to 100% for all accounts except for the Standard account.Account TypeMin DepositBonusStandard€250/Professional€10,00030%Business€30,00050%Business Plus€100,000100% Moreover, Islamic account applies for 30 calendar days for major pairs and 10 calendar days for other instruments. Nevertheless, key info such as spread and commission details are not disclosed, the broker only mentions “low spreads and commissions”. You need to check with the company directly before committing any actual trading to ensure you are aware of all the trading costs.Leverage Investing Banks offersa leverage level of up to 1:500, which means you can control a larger position of 500 times of your initial deposit. However, you should always be very prudent to use such tool since leverage not only amplify profits, but losses will be augmented at same level as well.Trading PlatformTrading PlatformSupported Available Devices Suitable forWebTrader✔Web/MT4❌/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal Investing Banks does not mention detailed deposit methods, but wire transfer free of handling fees is among of them, with processing time can be up to 3 working days. Base currencies are USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB and HUF. While you can only withdraw through wire transfers freely, there might be additional charges from the traders' processing banks or payment providers.