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FOREXBANK

Item: FOREXBANK
Rating: 1.58

United States|5-10 years|

High potential risk|

http://www.forexbanke.com/en/

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support@forexbanke.com

http://www.forexbanke.com/en/

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No valid regulatory information, please be aware of the risk!

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Warning: Low score, please stay away!

Previous Detection : 2024-11-16

It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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FOREXBANK · WikiFX Survey

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FOREXBANK · Company Summary

General Information & Regulation

Forexbank Latam is a forex broker that focuses on the Latin American market and is not currently subject to effective regulation.

Market Instruments

The main financial assets that investors can trade on the Forexbank Latam platform are Forex currency pairs, commodities, indices, stocks, Cryptocurrencies.

Minimum Deposit

Forexbank Latam does not provide detailed information on account types, with the minimum deposit requirement is $100.

Leverage

Forexbank Latam offers maximum leverage up to 1:1000. Unregulated brokers, usually, offer higher trading leverage to attract new investors.

Spreads & Commissions

The official Forexbank Latam website claims that the spread for EURUSD is 0.8 pips. However, after testing a demo account, it is known that you still need to pay a commission of $8 per lot, which makes the overall trading costs much higher than the industry standard.

Trading Platform

Forexbank Latam offers traders the most widely used MT4 trading platform on the market today. MT4 is the preferred trading platform for most traders around the world, with an intuitive and simple trading interface, powerful charting tools, a large number of custom indicators, automated trading & EA trading for both novice and experienced traders, and the ability to develop different trading strategies for different levels of traders. MT4 is suitable for both novice and professional traders and can be used to develop different trading strategies for different levels of traders.