WiseBanc was launched in 2014 as an online trading broker and has since grown significantly, claiming to serve over 200,000 traders across the world. The broker provides traders with a proprietary trading platform for trading over 200 instruments across different asset classes, such as commodities, indices, stocks, forex, and more. Traders also benefit from a range of easy-to-use trading tools and educational resources.
WiseBanc Review, Pros & Cons
- A proprietary trading platform
- Over 200 trading instruments
- A range of trading tools & educational resources
- Not regulated
- No MetaTrader platforms
- No USA clients
- Not the tightest spreads
- No FIX API trading
In this detailed WiseBanc review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
WiseBanc is an award-winning trading broker that operates from Bulgaria. They have an in-house-developed trading platform that allows clients to trade multiple trading instruments, whilst offering competitive trading conditions, including flexible leverage, low spreads, fast executions, and multiple account options. The broker has won several industry awards, including the Best Broker 2018, Best Forex Service Provider 2017, Best EU Broker 2015, and Best New Broker 2014, amongst others.
WiseBanc is owned and operated by Orion Service EOOD. There is no regulatory information on the broker’s website at the moment. Most experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
The broker does not offer its services to residents of countries or jurisdictions where the use of such services would be contrary to local laws or regulations. Hence, they do not accept clients from the United States of America.
Some WiseBanc features and products mentioned within this WiseBanc review may not be available to traders from certain countries because of legal restrictions.
The broker provides traders with the WiseBanc Trader. It is the broker’s proprietary trading platform, which is fast, user-friendly, fully customizable, and easy to use. It has a range of useful features, including one-click trading, interactive charts that can load in 9 timeframes, free technical indicators, and more. The platform is available as a desktop application for Windows and Mac computers, a WebTrader, and a mobile app that is compatible with Android and iOS devices.
WiseBanc Trading Tools
Traders can also make use of some analytical tools and a dedicated account manager to enhance their trading experience.
WiseBanc provides traders with a selection of educational resources that help to improve their trading skills and also keep them in the know on the factors that move the markets. They include the Trading Mentor, News, and the FAQ section.
WiseBanc offers over 200 tradable instruments across different asset classes, such as commodities, indices, stocks, forex, and more.
WiseBanc Accounts & Fees
The broker allows you to choose from five trading account options that are designed to meet the trading needs of all types of traders. The account types include Basic, Bronze, Silver, Gold, and Platinum Accounts. Demo accounts are also provided for practice purposes.
As broker fees can vary and change, there may be additional fees that are not listed in this WiseBanc review. It is imperative to ensure that you check and understand all of the latest information before you open a WiseBanc broker account for online trading.
The WiseBanc support team is available to respond to clients’ inquiries via telephone, email, Live Chat, and social media.
WiseBanc Deposit & Withdrawal
At WiseBanc, traders can choose from a variety of deposit and withdrawal methods, including credit/debit cards, wire transfer, Bitcoin transfer (BitSend), and alternative payment methods, such as Entropay Virtual Card, Neteller, and Bay.
WiseBanc Account Opening
Traders who wish to create a live trading account can do so by clicking on the ’Live Account’ tab and filling the application form. After that, they will be required to verify their email address to complete the process.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
WiseBanc is an online financial services provider that is headquartered in Bulgaria and offers online trading of multiple financial assets via a proprietary trading platform. They provide clients with educational materials and useful trading tools while offering multiple account options.
Although the risk when trading is fixed for each individual trade, the trades are live and it is possible to lose your initial investment, particularly if a trader chooses to place his entire investment to a single live trade. It is highly recommended that traders choose a proper money management strategy that limits the total consecutive trades or total outstanding investment.