Wise Banc Review

Wise Banc Review
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Established in 2017, Wise Banc is a non-regulated Forex and CFDs broker with more than 200 tradeable assets, spanning more than 50 currency pairs, commodities, 6 global indices and cryptocurrencies. Traders can set up trading accounts from $250 and access the user-friendly web-based platform without software download. Moreover, Wise Banc is available in English, German,... Read more
Established in 2017, Wise Banc is a non-regulated Forex and CFDs broker with more than 200 tradeable assets, spanning more than 50 currency pairs, commodities, 6 global indices and cryptocurrencies. Traders can set up trading accounts from $250 and access the user-friendly web-based platform without software download. Moreover, Wise Banc is available in English, German, Arabic and Spanish languages. Wise Banc is owned and operated by Orion Service EOOD, Popovo Street 10, Lozenetz District, Sofia 1421, Bulgaria.
1.5
  1. Established in 2017, Wise Banc is a non-regulated Forex and CFDs broker with more than 200 tradeable assets, spanning more than 50 currency pairs, commodities, 6 global indices and cryptocurrencies. Traders can set up trading accounts from $250 and access the user-friendly web-based platform without software download. Moreover, Wise Banc is available in English, German, Arabic and Spanish languages. Wise Banc is owned and operated by Orion Service EOOD, Popovo Street 10, Lozenetz District, Sofia 1421, Bulgaria.

  2. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is FXMasterBot, a trading software that lets YOU choose the broker and also provides fast, reliable and FREE trading signals!

    Your capital is at risk
  3. Wise Banc Special features

    Customers can choose from 6 types of trading account packages at Wise Banc. Significantly, all account plans can be managed as swap-free Islamic account versions upon request. The size of the initial deposit to Wise Banc, determines which of the packages customers can qualify for. The higher the amount of the initial deposit, the more benefits and advantages given to clients on the trading platform. Whilst we were informed that the minimum deposit size required to open a Basic account is $250, the minimum needed to access each account plan is not indicated on the website. Traders who are unsure about which plan suits them, are invited to contact Wise Banc for guidance. Nevertheless, we could see that the spreads across all asset types become tighter for the superior account plans, with the Diamond account having the tightest spreads of all. Moreover, all account plans offer currency pairs trading with the fifth decimal point, cutting down the amount that traders pay on spreads. Hedging is possible with any of the trading accounts and withdrawals are processed within one business day for all Wise Banc customers, irrespective of account type.

    Wise Banc Basic Account

    The Wise Banc Basic account is available as a regular or Islamic account. Swap discounts are not offered to Basic account holders. However, spreads on major currencies such as the EUR/GBP are from 0.0007 pip.

    Wise Banc Bronze Account

    The only difference between the Basic and Bronze account is the slightly narrower pip spreads on the various asset classes. The spread on the EUR/GBP is 0.0006, slightly tighter than the Basic account.

    Wise Banc Silver Account

    As with the Bronze account, traders with a Silver account do not enjoy additional benefits other than slightly narrower spreads. The EUR/GBP spread is 0.0005 rather than 0.0006 as seen in the Bronze account.

    Wise Banc Gold Account

    With a Gold account, spreads across asset classes are narrower with EUR/GBP at 0.0004. We did not see any other additional benefits over the Silver account.

    Platinum Account

    Holders of the Platinum account receive the services of a dedicated account manager, 25% discount on swaps and narrower spreads. We saw the EUR/GBP spread at 0.0003, similarly on the EUR/CHF and the AUD/USD currency pairs.

    Diamond Account

    The most benefits are offered to Diamond account holders at Wise Banc. Spreads are tight with EUR/GBP at 0.0002 and traders get a 50% discount on swaps. Along with a dedicated account manager, customers benefit from free VPS (free virtual server) services, news alerts concerning financial markets and hedging.

    Islamic Account

    Followers of the Muslim faith can choose to open an Islamic account which conforms with Sharia law, by clicking on the Islamic account tab. Importantly, Islamic accounts enjoy all the features of regular trading account plans at Wise Banc, but they are swap-free. Subsequently, traders do not receive or pay interest in the form of swap or rollover fees on positions held open overnight or over weekends.

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  6. Wise Banc Trading software

    We saw that Wise Banc utilises the user friendly TraderSoft platform for instant trading with ultra-fast execution for CFDs, Forex and cryptos under one wallet. For novice traders, the Wise Banc trading platform offers an FXSimplified list of assets for straightforward trading without distractions. Generally, the Wise Banc trading platform provides clients with convenient access from the browser on desktop, mobile phone and tablet. Moreover, the platform features a smart activity dashboard and live data feeds with real market prices. Traders can use multiple risk management tools, a broad range of charts and advanced analysis tools to assist them in their trading decisions. Under the Forex category, traders are given access to more than 50 currency pairs including cryptocurrencies paired with traditional currencies and with each other. The CFDs category covers a broad range of assets spanning commodities, indices and stocks. Importantly, apart from the bid and ask prices, comprehensive trading information is given on the platform for every asset, by clicking on the ‘arrow’ icon. The information includes the trading hours, minimum amount clients can trade on an instrument, leverage ratio, initial and maintenance margins, buy and sell rollovers.

    Wise Banc Educational Resources

    Separate daily, weekly and monthly summaries of market performance in currencies, commodities, stocks and indices are provided in the Wise Banc Trading Academy accessible from the dashboard of the home page. Additionally, customers can read regional financial news impacting global markets and access analysis on simple to understand charts, updated throughout the day. Notably, live webinars are programmed every month and the exact days are given allowing clients to plan ahead.

    Wise Banc Account Fees

    A clearance fee of 0.5% is payable on both winning and losing trades of up to $1,000. For larger trades, customers pay a fixed clearance fee of $5 per trade. Additionally, a maintenance fee of 0.5% of the account balance including bonus payments, is taken from every customers trading account on the last day of each calendar month.

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  8. Wise Banc Support information

    Wise Banc staff are available to customers 24 hours a day, 7 days a week over live chat, phone and email. The team at Wise Banc is made up of technical support staff, account managers and experienced traders, all available for problem solving and to assist in building trading portfolios. We saw that branches of Wise Banc exist in South Africa, Malaysia, Singapore and New Zealand. The phone number of each branch office is indicated on the support page, along with the physical address of the company headquarters.

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  10. Wise Banc Payment Methods

    Traders at Wise Banc can choose from a broad range of secure payment methods. These include Visa, Mastercard and Maestro credit/debit cards, Wire transfer and multiple E-Wallet such as Skrill and WebMoney. Whilst clients can deposit in several currencies, Wise Banc prefers deposits in USD, EUR and GBP. Following the initial deposit to the trading account, clients must forward the KYC documents indicated in the company’s compliance procedure. These typically include a photocopy of an official ID document and recent utility bill proving residence. Withdrawals from Wise Banc are processed through a sophisticated system. We saw that customers can withdraw funds at their own discretion, transferring money between Wise Banc and their bank accounts. All withdrawals are charged a 3.5% service fee capped at $3,500. Customers whose percentage service fee amounts to $30 or less, are automatically charged a $30 service fee.

  11. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is FXMasterBot, a trading software that lets YOU choose the broker and also provides fast, reliable and FREE trading signals!

    • Choice of reputable brokers
    • Free forex & crypto signals
    • Advanced trade settings

    Try a simpler
    way of trading
    with FXMasterBot

  12. Your capital is at risk
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