Standard Bank Forex Broker

Standard Bank Review SummaryFounded1998Registered Country/RegionSouth AfricaRegulationNo regulationInstrumentsShares, ETFs & ETCs, CFDs, Spot ForexTrading PlatformStandard Bank WebtraderCustomer SupportTel: 0860 121 555 (South Africa); +27 11 415 6555 (international)Email: securities@standardbank.co.zaSocial platforms: Facebook, Twitter, YouTube, LinkedInStandard Bank Information Standard Bank is a South African brokerage company who offers a wide range of financial instruments including shares, ETFs & ETCs, CFDs, and spot forex. Transactions are conducted on its proprietary Standard Bank Webtrader, available on both web and mobile phone apps. The company offers a series of educational resources such as glossary, basic concepts and theories, social media, etc for client study, thus to be well equipped for real trading. However, the broker is not being well-regulated by any official authorities so far, which degrades its credibility and trustworthiness.Pros and ConsPros Cons Many years' industry experienceNo regulationWide range of financial marketsLimited payment optionsIs Standard Bank Legit? The most important factor in measuring the safety of a brokerage platform is whether it is formally regulated. Standard Bank is an unregulated broker, which means that the safety of users' funds and trading activities are not effectively protected. Investors should choose Standard Bank with caution.What Can I Trade on Standard Bank? Tradable Instruments Supported Spot Forex✔CFDs✔Shares✔ETFs & ETCs✔Commodities❌Indices❌Cryptocurrencies❌Bonds❌Options❌Fees Standard Bank charges trading fees and other services fees. For example, an annual 20 basis points will be charged daily and billed monthly on the daily closing value of open share positions (NYSE close) for administration. To explore more fees and be aware of your trading costs, you can visit https://webtrading.standardbank.com/webtrader/commision/general.html or contact with their representatives for confirmation.Trading Platform Standard Bank offers an self-developed trading platform, namely Standard Bank Webtrader, specially designed for its own users. You can access the platform via web, or download apps on mobile devices.Trading PlatformSupported Available Devices Suitable forStandard Bank Webtrader✔Web, mobile/MT4❌/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal Standard Bank accepts funding via two methods: Shyft and bank transfers.