In our review of the unregulated broker called WiseBanc, we see that they are using a trading platform for CFD and Forex trading called TraderSoft. Available for trading are hundreds of underlying assets from Forex, Crypto Currencies, Stocks, Commodities and Market Indices. Standard leverage on Forex pairs like EUR/USD is 400:1, and the spread starts at 3 pips. When reviewing their Crypto Currency pairs like BTC/USD, we saw the spread was $210.
Right now, the brokers are only offering investors their simple web based desktop trading platform in English and Italian. Hopefully they will soon release mobile trading apps and the option for MetaTrader platform.
New investors will see many different investment account types at WiseBanc, and each one has different added features. Minimum deposit for a basic trading account is $250.
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If you want to verify that a Crypto CFD or Forex broker is legit. See if their government’s financial regulator gave them an operating license. There are many investing scams circulating online, and it is incumbent upon every person to verify your are dealing with a legal company. In Australia a broker must get a license from ASIC, and in the United Kingdom, they should have an FCA license.
WiseBanc is not a licensed Forex broker.
Did you know that there thousands of Forex brokers to choose from online today? Therefore, have a look at these other popular legal brokers, see here.
Compare WiseBanc Brokers
Minimum deposit is only $100, and you can try a Free Demo Account at: Plus500.com.
*80.5% of retail CFD accounts lose money
WiseBanc is located at: Popovo Street 10, Lozenetz Sistrict, Sofia 1421, Bulgaria. The official company name is Orion Service EOOD.
Contact phone number is: South Africa: +27 16 004 0084 and Malaysia: +60 32 788 4417. Official Email address is: [email protected]. Website: https://WiseBanc.com.