16 reviews of TradingBanks are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
They are totally scam and fraud and they scam with me 20000 USD so pls i inform all of brothers pls don't invest in that company and pls try to share that story with everyone and i am sending to you pls check it
We often hear stories from clients that have been defrauded by a broker. Most of the time, it ends up being a case of mistakes in trading that leave investors licking their own wounds.
But not this time.
We started hearing rumblings a few weeks ago from multiple readers claiming that TradingBanks had stolen their money. As we normally do, we don’t respond to individual clients in these situations, as the investigative power needed to unearth some of these claims is significantly greater than we have time for. Until we met a man I’ll call “S”.
S approached us about helping him find a reputable broker. As our readers know, we only work with fully licensed and regulated brokers that have been vetted by our legal and compliance departments. We worked normally with him, and he told us the tale of terror that is TradingBanks.
It all started with a simple Google search. S was looking to start trading forex, and like most new traders, looked for a broker that would give him favorable conditions. He ran across TradingBanks, and opened a trading account, but did not deposit funds into it immediately.
And that’s where his nightmare began. He was immediately bombarded with calls from the broker’s representatives asking about deposits, and asking him to fully fund his account so he could begin trading. He was offered returns well over 100% in just a few short days, and like most new investors, he was keen on the idea of such amazing performance. In reading the chat transcripts that S shared with us, it’s pretty clear that Daniel Ballard was only interested in one thing: getting money sent to him.
High pressure sales, including the epic line, “don’t wasst my time bro”, were standard sales practices with this team. S finally relented, feeling like he owed Daniel Ballard for spending time chatting with him via Skype and agreed to send him $450.00 USD, a giant sum for someone living in a third-world nation. Daniel took the money, traded it without S’s permission, and told him he had already made him over $1000 USD in just a few days.
Hold on, because it gets worse. A high return in a very short period of time? Trading that’s not being done by the client, but by the broker without a proper Power of Attorney or trading agreement? Our alarms are already ringing.
The pressure increased from there. S started getting offers to make over $200,000 in less than a year, but with one caveat: Daniel needed more money, quickly. S started getting calls almost hourly on his phone, on skype, and emails. “When can you send money? Im wait for you. You told me you wanted this? You said you are serius.”
S was at a crossroads. Obviously this person had already shown him good returns, and the high pressure was starting to wear his confidence thin. He took out loans from his credit cards, from friends, from family, and came up with $10,000.00.
You would think things would have eased up at that point.
S continued to get daily calls. But things changed. Now it’s not Daniel running his account for him without permission. Now it’s a woman named Victoria Udina. She’s trading his account without permission and despite S’s complaints, isn’t stopping. She offered to teach him how to trade, but refuses to spend any time actually showing him the platform, how it works, or how to trade.
The tale of high pressure and promises continues at this point, with a THIRD representative getting involved. When Victoria couldn’t get any more money from him, Victor Kiselyov comes on board. It’s very likely that these three representatives are all the same person. They all use stolen images on their skype profiles, and the contacts are never all on at the same time.
The terrifying trio of traders continue to harass S at all hours of the day and night. They’ve told him, at this point, that his account has grown to over $30,000. S isn’t excited. He’s scared. He wants to get that money back and start to pay off his debt. He attempts to withdraw, but he’s told that in order to release a percentage of his profits, he’ll have to deposit another $10,000.
S is in tears at this point. He needs to start getting money back, but he’s unable to come up with a sum that large. He’s assured by the company’s Trader Trio of Terror that he’s going to get funds back, but he needs to deposit again. Through a small miracle, he’s able to loan another $10,000 to deposit.
Then everything goes dark.
No one answers, no one talks to him. His traders stop answering him. They eventually come back online and tell him that his money is being traded, and that he’s almost ready for a withdrawal. With one small hitch. They want more money.
S can’t do that anymore, he doesn’t have a way to get more money. He’s already given them a fortune by his country’s standards. More than a person would earn in ten years, and they’re still asking for more and more money. He’s in tears, in debt, about to lose his home and his livelihood. His friends and family are demanding to get their money back and he has no recourse. No way to get his money back. No way to stop the stream of calls that he’s getting daily demanding that he deposit more money.
We reached out to TradingBanks for comment and was told, “We do not share company information to anyone other than clients.” I asked about their regulation and where they’re allowed to work, and Kielle let me know that, in effect, TradingBanks is “not authorized to provide financial services…”
So we dug deeper. The TradingBanks website states, “TradingBanks is a brand owned and operated by Grizzly Limited, TradingBanks and Grizzly limited are not licenced or authorized by the MFSA to provide any investment or other financial services in or from Malta, which are required to be licenced or authorized under Maltese law.“ We were able to find license number IFTS/60/402/TS/15 listed for TradingBanks, which is a Belize license, notoriously easy to acquire and overwhelmingly mismanaged. The registration is listed to a “Lau Global Services Corp” with an address at 5 Cork Street, Belize City, Belize and telephone number 501-223-2040. We reached out for comment, but no one answered.
It gets better.
Turns out that this license number is actually listed to MXTrade.com. We visited the page and were surprised by the number of similarities in the pages, including chat software and sidebar design. We were even greeted by the same representative we talked to at TradingBanks. We reached out to them, and like TradingBanks, we were told that they “do not share licensing information to anyone other than clients.” The voice on the line was suspiciously similar, and I asked if he also worked for TradingBanks. The call was disconnected at that point.
So what happens next? Chances are that this company will soon shut down and it’ll pop up again as a new broker. Chances are clients that had this issue may not see money back quickly, but as long as we at FXBonusDeals.com are active, we’ll work this story and bring you updates.
Have you had experiences with either broker? Drop us a line, we’d love to hear from you.
I am glad to work with them for almost a year. The bonuses are good and the support also. I highly recommend TradingBanks to all my trading friends. They gave me 100% on the deposit so everyone should take advantage of this.
I'm working with TradingBanks since november and the things is going pretty well. I've done some good operations following the signals they sent to me. The bonus and the spreads are good also. I don't have problems with withdrawing and i hope it keeps going like this.
I have been with tradingbanks for almost a year now. They reply to any of my concerns quickly. The broker they have provided me since the very start is really good, knowledgeable and always willing to assist me any time that I contact them.
I know I am going to stay with this broker for a long time, they have earned my trust and I never encountered any problem with their withdrawal process.
very good broker! im in this broker 1 year without any problems
My live trading journey began with TradingBanks. Actually, I was looking for big bonus as I was in small investment problem then I found 100% welcome bonus offer of TradingBanks broker. Actually, that was great achievement for me as I found this big bonus from an ECN type trading broker. On the other hand, the terms and conditions was too easy that’s way, my live trading life is much enjoyable with this broker.
I am retired and looking for an investment opportunity to spend my free time and at the same time to earn. But If I want to earn, I am sure I need to start with a certain amount. For the last few weeks, I am uncertain which and what to do, as I do not want risk everything that I have and then completely lose.
With the pension that I am getting each month, I need to make a wise decision and what I would like to do is invest with something that I know I am going to earn profit.
I am glad a friend of mine told me about TradingBanks and how he is earning already. And he said he start with something not so big, which I can totally afford and he is now earning great profit and saving more.
And I have thought about it and weigh my priorities and the pros and cons of what I am going to do. Last week I have decided to start with their minimum deposit and I was offered to join their Money Back Guarantee promotion, which I accepted and the representative that assisted me was so nice to offer me this welcome bonus of 100%, which of course, I am really happy about.
And yes I am currently earning profit right now, with the assistance of one of their expert brokers, after a week of saying yes to this great earning opportunity, I am glad I did, anyways.
I believe I did the right thing, joining Trading Banks.
i knew about tradingbanks from my friend who has been trading with this broker starting last year. i already know a little bit about forex trading and has a trading account with another online broker. although the spreads of other brokers are a bit better than tradingbanks, i still prefer this because the services of this company is superb and i also gain more profits here. when i registered a live account, i only deposited 250 bucks because i want to test it first. they gave me a hundred percent bonus so my money doubled. after a few successful trades with the help of my personal broker john matthews, i decided to deposit more. im very happy with the way things are turning out and have decided to stick with tradingbanks. if you are getting tired of scam forex broekrs and want to work with a legit one, your best choice would be this company
Two years ago, before i found out about tradingbanks, i have traded with other brokers. compared to others that i have tried before, the thing i like most about this online broker is that they have good leverage options of up to 1:400. this leverage really helped me improve my position on the market. aside from that, they also have awesome account managers and brokers. kudos to my account manager athena and to my personal broker lance for helping me with everything about my trading account.will definitely trade with this company permanently. thx again tradingbanks
Tradingbanks claim on their website that they have "NDD Execution without rejections", "Fair trading with NDD execution and no requotes", "ECN execution". But if you make profit, they simple delete it and return only initial deposit.
If the Company notice any Scalping activity or other high
speed trading activity, the trading account of the Client shall be disabled without prior notice. Moreover, the Company reserves the right to cancel and delete any transaction/pending order execute with the scalping account.
For further information as to the execution of order refer to the “Execution Policy”.
“Scalping is a form of trading strategy through which the Client performs and/or tries to
perform numerous transactions on small price changes. (5 pips average or less within 24
Hours trading period of time)”
So they can delete any trade which is under 24 hours.
How this can be if they have NDD Execution without rejections??
So please stay away from this broker!
I traded with tradingbanks since February and I am able to stay on this broker because I am getting profit. Sometimes its hard to trade on the market especially if yu are trading alone but on my part I am able to trust teh broker on this firm. I am trading on commodities and the pips are reasonable. brokers are giving me signals and updated news which I am very happy because it gives me good idea on my trading.
I have not encounter any bad issues with them so far thats why I am still trading with them. I hope my luck with this broker will always continue and i'll get more good cash with them.
No i dont think spread are low on this broker. i trade with them now and i can say that the spreads are high than my previous broker. looking on the good side, yes i agree this tradignbanks has good providing in when to buy or sell, thats why even spread are not that low, it makes even because profit is good
I have tried many brokers before and i can say that tradingbanks is one of the good ones. the spreads are low, the customer support is great, and their brokers are really professional. When i withdraw my money the transaction is fast unlike on others where i have to wait long to get my profits. I will certainly recommend tradingbanks to my friends who want to participate on the stock market.
Here is my review for Tradingbanks,
Tradingbanks provide bonuses up to 100 percent.
The spreads are low which most people are looking for.
Support are good and very helpful. They always send forex signals which helps in trading.
They provide market news.
They don't support US clients.
They don't have paypal.
Tradingbanks.com was recommended to me by a friend who is on Dubai and said he is getting good profit and trusted this broker. I decided to try it and start with 400usd. The support sends me forex charts and strategies on trading on the market, this gave me ideas on my trade and a big help.
Pros:Easy to read charts and friendly customer service
Cons: Not accepting US client
To submit your own Forex Broker review for TradingBanks fill the form below. Your review will be checked by a moderator and published on this page.
By submitting a Forex Broker review to EarnForex.com you confirm that you grant us rights to publish and change this review at no cost and without any warranties.Make sure that you are entering a valid email address. A confirmation link will be sent to this email. Reviews posted from a disposable e-mail address (e.g. firstname.lastname@example.org) will not be published. Please submit your normal e-mail address that can be used to contact you.
Please, try to avoid profanity and foul language in the text of your review, or it will be declined from publishing.