Review Is Trader Bank a Scam or Legit Forex & CFD Broker

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Forex Broker Reviews 2020 – Ultimate Guideline

Forex Trading itself it’s difficult enough, to add another type of risk, is Broker Risk. The purpose of this research on FOREX BROKER REVIEWS is to ensure that you do not engage Trading in a Fraudulent/Scam Forex Broker. We monitor, compare and analyze brokers to ensure that our study meets your expectation. We are committed to helping our readers pick the Best Forex Brokers.

Note that there is no Best Broker in general, But you need to find the best one suited your Trading Style & Strategy. For this reason, we have presented a detailed research on what a trader should consider before selecting a Forex broker.

Key Considerations – How to Choose a Forex Broker

Some brokers may also have unfair spreads, hidden legal details, and fine print, or even just be outright frauds and scams. As important as a broker is, it is often very difficult to choose the right one for your investment. There are some factors to consider before making a choice. To choose the reliable broker for you, consider the following;


The implication of trading with an unregulated broker is that you will not be able to do anything if it turns out to be a scam. There are several regulatory bodies worldwide that regulate the activities of Forex brokers.

It is important that you look out for a broker that is registered and regulated by a strong regulated body. Some Brokers hold regulation with more than one securities.

Our recommended Regulated Bodies are;

  • FCA (UK)
  • CySEC (Cyprus)
  • Australia (ASIC)
  • Mifid (Eurozone
  • FSA and JSDA (Japan)
  • FINMA (Switzerland )

Reputable brokerage services will always have suitable regulatory stamps, approvals, and other verifiable documents and pieces of evidence to indicate their compliance with proper regulations and laws. Make sure you start your financial trading with a highly regulated Broker.

Reputation & Years in Business

Simply, the longer the period the financial broker has been in service is the better for you since that pass the test of time that guaranty you of their service, and support. The reputation is a key feature to consider when picking your trading bridge, I mean your Broker.

You already know by this time that there is no perfect or so-called best Trading Broker. We do suggest you go through online-research as per our guideline about your possible broker.

Remember, when positive reviews outweigh negative reviews, the broker is the right fit and you can proceed to trade & trust your money security with them.

Headquarters Location:

This Forex broker review also suggests that you find out where the broker is located. Usually, there should be an address at the bottom of the home page or the Contact Us page of the broker’s official website. Besides, the location of a particular broker can give you an idea of the level of regulation it gets. While some countries have strict regulatory compliance, others are just on paper.

Therefore it is advisable to choose a broker within reputed country monitor by a reputed regulator to avoid unnecessary frustrations.

Trading Software and Platforms

In order to execute your trades, you must have a trading terminal connected with a broker’s server. While many platforms exist in the industry, by far the most common is Meta-trader 4 or MT4 in short. This trading terminal is used by over 85% of brokers, and dozens of reviews on the product exist that detail its functionality and flexibility. There are lots of free and paid indicators, scripts & Expert Advisor is found in the Industry for MT4 terminal.

However, it is far from the only solution, and you may find other options to be better suited to your needs. There are some other terminals like cTrader, NinjaTrader, among other.

Some brokerage firms may release proprietary software designed to function with their service, and this software often ends up performing better than anything else for that specific broker.

Mobile Terminal:

You should also have a strong mobile terminal to allow for advanced trading and management when not at home or near a computer. A smart investor has access to trading software on every piece of tech he or she owns, to allow for fast and reactionary trading as situations change throughout the day.

Web Trader:

Nowadays, The web trader is becoming more popular among the traders. The platform connects to the server through the web-browser.

There are some brokers that have their own proprietary trading platforms where you can actually carry out your trading activities


Leverage entails the loan that a broker gives to the investor. Forex Broker offers leverage from 1:1 to 1:3000 nowadays. Whilst leverage enables traders to magnify their profits on successful trades, it also magnifies losses on unsuccessful trades; meaning that it is possible to sustain significant losses, perhaps even the entire sum of your invested capital

As such, we urge all clients to adopt a prudent risk management strategy in accordance with their investment goals and level of trading experience.

Deposit and Withdrawal Methods

The ease of moving funds from points A to B is a major factor to consider. It is important that you check what payment options the broker offers and decide if they are convenient for you like Neteller, Skrill, Paypal, Bitcoin, Cards (Visa/Master Card), among others.

For withdrawal, it is required to use the same payment method that you made your deposit your fund with. In case of several payment methods used the most used one will be considered as the main payment option.

Furthermore, you must be sure that the payment method is supported in your country, whether there are payment charges and how much, and how long it takes for transactions to be completed.

Spreads, Commissions, and Fees

The dealing spreads that your account uses must be competitive if you’re to record long-term success in online trading. For every currency pair, there is a bid price and an offer price. The difference between these two is what we call the spread. Some brokers charge an additional fee or commission, apart from the fact that you trade on spreads, for every transaction you carry out.

Fixed Spread:

A fixed spread doesn’t change regardless of the direction of the market. It is the spread you’re offered that you pay. It is fixed by the broker and is not changed by trading conditions or market volatility. If you like some form of stability, this might just be something to look out for.

Floating Spread:

This is also called variable spread. Its value is determined by the changing value of ask and bid prices. This means that the spread you pay for a currency pair is not static. Each spread is dependent on supply, demand and the amount of total Forex traded.

Commission Fee:

This is the fee charged by the brokerage firm for trading transactions conducted on your behalf. The commission fee can either be a fixed fee regardless of the size of the transaction, or a relative fee that is determined by the size of the transaction. That is, while a fixed fee may be put at $1 dollar whether you’re trading $100 or $10,000, a relative fee means that you pay higher when your transaction is large.

You should look out for a broker that is transparent with this process and does not charge hidden fees.

Types of Accounts Offered

Basically, your tolerance for risk and invest amount would determine the type of Forex account you operate. There are three main types and each of them has its peculiar advantages and disadvantages. It is important that you look out for what accounts your potential broker offers and if they suit your trading preference.


This is, perhaps, the most suitable account for beginners. You would only require 1,000 units of the base currency to make up a Forex micro lot. Here, you can also take advantage of leverage to increase your potential returns.

This account allows you to trade in smaller lots. For most brokerage accounts, the sum is $10,000, just 10% of what the standard lot costs. Many brokers also offer such accounts especially because they want to provide a room for new traders who may be skeptical about trading full lots because of the intensive capital involved. You should know that because the risk is low, you will also yield low profit, $1 on every positive PIP movement.


This is very common in Forex trading. It allows you to trade in excess of $100,000 per lot, using the standard lots of currency. But of course, you know you do not have to provide all of the $100,000. The principles of leverage and margin apply here, where a 50:1 leverage allows you to pay just 2% of the total trade as a deposit. A broker would normally offer more services to you if you have this account, but you should know that it is capital intensive.

Margin Requirements

I often tell people that transparency is key. You need to be told in clear terms what you’re getting into. I have already to you about margin and how a broker would need it to take care of potential losses. The requirement, however, varies from broker to broker. You need to know how much each broker requires, and what policies and guidelines they operate by to determine if you can cope with them.

Information & Resources:

Remember that Forex Traded in an international market, so you should be looking for international economic news. There are lots of global issues that affect the Market. Look out the informational facilities provided by your Broker this might includes Free Signals, Daily Market analysis, seminar, webinar and other trading resources.

Forex Bonuses, Promotions & Contests

We love the free stuff and gifts – Thus, Some of Forex Broker offers attractive bonuses, gifts, contest and freebies for their new & existing clients. Note, watch out the broker’s activity with our above guideline before going through the bonus.

No Deposit Bonus

A Free-Credit that offers to the new clients to start their trading without any invest thus no risk as well. It is a great way to test the broker’s platform and services. The bonus amount offers up to $100 USD, while some of the brokers allow withdrawing profits assets the terms of the promotion.

Deposit Bonus

A Bonus provides on client’s funding. Usually, the bonus offers in the percentage of the trader’s deposit amount.


Forex contest is a trading competition held among the traders with the equal conditions for all participant. The winners receive cash/tradable money and gifts as the prizes of the promotion.


This Forex brokers review has provided you with a comprehensive list of factors that will help you determine who the right broker is to transform your investments into super returns. We all know that Forex trading is a risk, but getting the right broker can help reduce that risk.

Tips for Finding a Great Forex Broker

Tips to help you choose the right broker and avoid disaster

As if there wasn’t already enough to learn when trading forex, the forex broker you choose is actually the biggest trade you’ll ever make. You’re giving all your trading capital to that company, with the expectation that you’ll be able to trade with it and withdraw it when it’s time to take your profits.

You may have great forex strategies, but if your broker runs off with your money, all your hard work and research was for nothing. Follow these five in-depth tips on how to find a great forex broker, so you end up with the right broker that meets your needs, without exposing you to any scams.

Consider Your Needs

Before looking at brokers, assess your own needs. Here are some things to consider:

  • Are you going to day trade a lot or a little?
  • Trade very small moves, or capture bigger moves?

If you day trade a lot and capture small moves, consider an ECN broker. You’ll pay a commission on trades but the spreads are much tighter, which matters when trading small moves. Search only for “ECN Forex Brokers.”

If you don’t think you’ll need an ECN broker, then you still have a big pool of potential brokers left.

If you’re going to do “scalp” trading, you’ll need an ECN broker.

How much capital do you have? With a small amount of capital, you have to trade micro-lots. If you have over $5,000 you can start day trading mini lots. Don’t open a standard lot account unless you have at least $50,000.

Choose a broker and account type (lot size) that matches your capital.

When it comes to depositing and withdrawing funds from your account, different brokers offer various methods. Choose a broker that aligns with your needs

What the Broker Should Offer

Now that you know what you want, and have hopefully narrowed the list of potential brokers, look for the following in the brokers you’re still considering.

No “dealing desk.” If you’re a day trader you want to be interacting directly with the market, and not sending your order to a trading desk which then initiates it in the market. That takes too much time, and often results in “re-quotes.” This is when the price has changed since you placed your order, and the broker asks you if you wish to proceed. Because of the time delay, your trade opportunity is likely gone.

Make sure your broker is regulated in a country with a well established financial system. A forex broker regulated in Cyprus, for example, is better than no regulation, but you could still have problems. Pick brokers regulated by U.S., U.K., Canadian, Japanese, New Zealand or Australian authorities, as examples.

You’re a day trader, so demand competitive spreads. For example, if day trading the EUR/USD during a major session expects the spread to be close to one pip (point in percentage) with a non-ECN account. Two pips are too high; eliminate that broker as an option. With an ECN account, the spread should be half a pip or less during major sessions.

Look for a broker that’s available when you need them. Open a demo account with brokers you are interested in, then send them lots of emails with questions. Monitor how fast and how thoroughly they respond. If the customer service isn’t good, eliminate that broker from the list of your potentials.

Be Wary of “Losing Trader” Reviews

Part of your research in choosing a broker should be looking at written reviews of the broker as well as discussion forums.

Be wary of these though. Unless the information comes from a credible source, and most forums are not credible sources, you’re likely to find fake reviews, both positive and negative.

Most day traders will lose money, and since most traders can’t admit that to themselves, they blame others when it happens to them. Just because someone complains about losing money doesn’t make the broker they were using bad, even though the writer may blame the broker.

Look up what people are saying, but maintain objectivity. Lots of false information gets published with no credible reference.

Personally Test out the Broker

Your list of potential brokers should be smaller now. But with so much false information out there, don’t make a decision yet. Instead, test out the brokers you are most interested in.

  • First, open a demo account and take note of the trading conditions. Your orders should execute instantly. Spreads should be tight and the platform stable, not crashing all the time.
  • If the demo works well for several weeks, then open a live account, with a fraction of the capital you intend to deposit. For example, if you have $10,000 to deposit, start by only putting in $1,000.
  • Trade the live account with your partial deposit for at least two weeks. During this time, continue to test customer support, asking them questions and assessing how quickly they respond.
  • Initiate a withdrawal for some of the funds in your account. Depending on your withdrawal method, this may cost you several dollars, but it’s worth it to know whether withdrawals can be done easily.
  • If everything seems good after all this, you’ve done your due diligence. Deposit the rest of your capital and begin trading as usual.

Avoid “Bonuses”

When you open a live account avoid any and all “bonuses” the forex broker may offer. Here’s an example: “Open a $1,000 account and get $100 in bonus cash!”

Nothing really comes for free. If you accept a bonus it may interfere with withdrawals, because some of the money in your account is now the broker’s money. Send an email with your account application that explicitly states you don’t want to take part in any bonuses that they have on offer.

Choose Your Forex Investment Broker the Smart Way!

Currently, there are more than 500 different Forex trading platforms whose services users can sign-up for. Some of them, however, come from more than shady backgrounds. Their founders are scammers who seek to manipulate asset price rates or won’t let customers withdraw investments and earnings. This makes choosing just the right investment broker crucial to accumulating good daily results.

Our team of experienced trading experts and investment platform investigators has carried out extensive research on many different investment brokers. It is best to check up the one you consider registering on the ‘Is-Scam’ trading reviews website before proceeding to do so. Read them or write to our editorial staff to compile information on the average performance, payout rates, and annual Forex profits. Then, you can be sure that you are signing up for the best foreign exchange broker for your needs and goals!

Safe & Secure Brokers April 2020

Don’t see your broker?

If you don’t see your broker in the list above, it might be a scam. We investigate the brokers as soon as possible and publish the results as reviews on our site.

3 Tips to Avoid Online Scams

Many Brokers and Trading software are advertised via email and on the Internet. During our experience, we have seen many, many sites. And also we opened real trading accounts with most of the systems in the course of our investigation activities.

Grab these 3 tips and avoid scams:

TIP1: A Stich in Time Saves Nine – Read Reviews Before Sign-Up!

A good place to start is our site – Read expert reviews OR if you cannot find your stock trading broker, use our recent posts feed to get regular updates.

TIP2: Try Before You Buy – Get Your Risk Free Trades!

The Risk Free Trades are a huge improvement and this is the best way to get started with trading stocks and shares. This means no matter win or lose, the trade is in the house! It is very rare to find a broker that offers risk free trades.

TIP3: Choose a Regulated and Authorized Broker.

What Is a Forex Investment Broker?

A legit and authentic Forex broker is a digital mediator between the end-user and the foreign exchange markets. It is a virtual instrument that provides access to a wide range of available trading assets. Most of them are regular currencies. Customers try to accurately forecast their price fluctuations. The only two possibilities are for it to go up or down.

Most Forex investment platforms, however, also add other asset categories to make the experience more fulfilling and wholesome. They can be cryptocurrencies, like Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, and other Altcoins. Assets from all four main categories – indices, currency pairs, stocks, and commodities – are also often turned into fruitful opportunities to generate solid profits.

Reliable Forex brokers also provide access to at least several different account types. So that customers can choose the one that best suits their needs. They have varying minimum deposit rates which rise reciprocally to the account type ladder. The ones that require the highest monetary sums also provide the most special features. They are best-suitable for well-experienced traders.

What separates ‘Is-Scam’ from most other Forex broker platforms review websites is the fact that we perform first-hand investigations. Our editorial staff members personally try out the features and tools of every FX, CFD or cryptocurrency broker we compile trading reviews on. They do their best to present users with objective reality.

Online traders can always write to us. Especially, if they require a piece of advice on the Forex market, software, investment strategies or FX broker. If we have not examined the subject they are interested in yet, then, will do our best to do so promptly. And find out whether or not it is a scam or legit Forex trading solution.

Why Choose the Foreign Exchange & CFD Trading Market?

Some trading fields are more lucrative than others. The foreign exchange market (Forex) has managed to prove to be the most stable one over the years. Once one learns to recognize trends and investment patterns, it is not hard to determine asset price fluctuations. Meaning that most people will be able to achieve consistent daily payout rates and solid profits. Investing in the FX market digitally means that the user is one step ahead of regular traders and Wall Street suits.

Plus, most legit Forex investment brokers and apps offer access to assets from all the other main categories, as well. Clients can choose to trade cryptocurrencies, indices, commodities, and stocks if they wish. Of course, the most vital thing is to get started with an authentic, licensed, and trustworthy FX trading platform.

How to Pick the Best Forex Trading Broker? – The Recognizable Signs

The world of virtual Forex trading is a diverse and complicated one. Users have to learn to recognize the legit Forex brokers from the scam ones. Otherwise, they risk losing their earnings, deposits, and investments. They can always turn to ‘Is-Scam’ in times of need. Our FX investment platform review database is vast.

We will now give clients a more detailed description of how to be certain that the Forex trading broker is legit. Some of the characteristics include the possession of an official license and certificate. Others are more basic. It is best when they are combined and come as one whole product package. Remember, the main characteristics of a legit and trustworthy Forex broker are easily-distinguishable.

Here are some of them:

Demo Account & Account Types: Authentic FX trading platforms provide access to, at least, several account types with different special features and tools. The demo account should be a characteristic of all of them. Maybe except for the higher categories where clients rarely need it. It allows customers to grow and get used to the given broker’s specifics.

Payout Rates: Achieving good returns is the main purpose why people engage in online Forex trading. Make sure to check the payout rates of the Forex broker you are considering to sign-up for.

Investment Platform: Successful trading and smoothly-accumulated profits all depend on enjoying an uninterrupted trading process. Which is closely tied to the utilized investment platform. MetaTrader 4 (MT4) is a fine example of a piece of software which ensures fine services.

Customer Care Service: Since digital Forex trading can be done around the clock, clients might need of advice at all times. Customer support care should always be provided on a 24/7 basis. Team members should handle clients with genuine interest and kindness. It is best to also have it available in several different languages.

Minimum Deposit: Don’t forget, the bigger the initial investment – the higher the total payouts and Forex trading profits!

Available Currency Pairs: Again, the more – the merrier! Most traders prefer to invest in a wide variety of assets. This way, they can counteract and respond quickly to negative asset price trends, minimizing losses and maximizing gains.

Registering for a Licensed & Approved Forex Trading Platform: It is always good to know that the Forex investment platform that handles your earnings and investments is monitored. This excludes the possibility of malpractices and scams. Official authorities and their respective organizations regulate the way that legit and authentic FX brokerages operate.

How to Open a Trading Account with a Forex Broker in 3 Easy Steps?

There is nothing hard about getting started with a digital Forex investment broker. All that clients have to do is comply with the well-established procedure. It has been the same for many years now. Most online investment platforms apply the strictest SSL 2556-bit information encryption protocols to all financial and personal customer data. Data is stored on separate servers which are usually located in different countries, if not continents. There have been no FX broker complaints in user testimonials, reviews, and feedback about possible leakages.

Here are the 3 easy steps to opening an investment account with a Forex broker:

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Choose a Suitable Account Type & Sign Up: Clients must first enter their name, valid telephone number, email address, and country of origin. They will receive a confirmation letter in their inbox. They must proceed to the link, applied inside, to activate their trading account of choice. A Personal Account Manager will call them shortly to help them with the settings.

Make Starting Forex Investment & Trade: Clients can always deposit just the minimum amount, required for the given account type. All deposits are safe and they can request a withdrawal at any given moment. But the highest payouts and profits are generated by those who make bigger starting investments!

Send Withdrawal Request & Enjoy Earnings: Most legit Forex broker present users with the possibility to make speedy 1-day or same-day withdrawals of their payouts. Even if one opts for the regular procedure, it should not take anymore than one business week. This is attributed to the different bank transfers policies around the world.

What Is Forex Demo Trading & Is It Helpful?

Having a demo account or demo trading account available at your hand is very useful. Especially, to get used to the Forex broker’s specifics. Clients can take advantage of it to find out how the FX & CFD investment platform works. Most legit Forex brokers include it in every of their available account types. Clients are usually provided with $10,000 to $20,000 of virtual investments that are used for training purposes only. They are not billed or invoiced in any way.

Here are the main pros of having a Forex trading demo account at your free disposal:

Excellent Way to Train One’s Trading Skills & Learn How the Forex Broker Works;

Trades Are Not Successible to Slippage, Interest and Dividend Adjustments, or Out-of-Hours Price Movements;

Unlike with Live FX Trades, Demo Trades Will Never Be Rejected Because of Size or Prize;

There Are No Additional Charges, Like for Chart Packages;

Demo Account Trades Will Not Be Closed on the Grounds of Insufficient Funds;

What Is a Forex Trading Bonus & How to Get It?

Forex trading bonuses are monetary or material investment promotion, incentive or encouragement for the newcomer, regular, VIP or long-term clients. They can be provided on a regular, recurring or sporadic basis. Online FX brokerages do not hand them out to receive anything in return. It is simply a way of showing gratitude for the interest in their trading platform or staying with them for so long. Newly-registered users get an initial sign-up bonus on most legit Forex trading platforms.

Here are some of the main types of Forex trading bonuses:

Deposit Bonus: These bonuses are given so that users can make their first deposit on the FX broker’s official website. They are usually in %, meaning that the customer’s account fund will increase with a given ‘%’ and not with concrete sums.

No Deposit Bonus: Given to newcomers that shy away from making their first trade so that they can overcome their fears. Users do not make any personal investments. The entirety of the sum is sent by the Forex broker.

Welcome Bonus: Handed over to users with newly-opened trading accounts.

Special VIP Bonuses: These are intended for people who have a VIP or higher account types. Their exact contents are disclosed solely to people that have one opened.

Regular Customer Bonuses: Mainly digital investment programs that are developed and designed specifically for loyal customers.

Pending Forex Bonus: This Forex bonus can only be used after the user does a particular action on the FX brokerage’s official website. Such are mainly assigned to newly-registered customers who have to carry out several trades first.

Forex Reload Bonus: Designed for regular customers of the investment platform. It is an instantly-granted bonus that one receives after making a deposit. It is good for people who like to trade on the foreign exchange market frequently.

Choose the Best & Achieve the Best Forex Trading Results!

Our dedicated editorial team will do our best to help clients accumulate good Forex payouts. We want to help users find the most suitable Forex trading broker for their individual needs and goals. Simply write to us in times of uncertainty and unclarity.

Let us teach you how to take advantage of it and achieve financial freedom and prosperity. So many people dream of making it a vital part of their lives! But they never have the power or confidence to do what it takes. Do you want to be a loser of an achiever? Secure your future today.

Inaction is a weapon that keeps many from living to their fullest potential. Do not let that happen. We can help you achieve your monetary goals. By giving you a clear and objective perspective of the legit and scam Forex brokers. It is up to you what to do with your life and this piece of viable Forex trading information. Make the right choice!

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