Forex Bank

Forex Bank (operating as Forex Bank Latam) is a financial technology company and prime brokerage firm registered in Saint Vincent and the Grenadines. According to its website, the company was founded in 2020 and focuses on providing multi-asset trading services and brokerage solutions. It targets both retail traders and institutional clients, offering a variety of account types and platforms.

While the broker claims to be regulated by the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) under license number 808/2020, independent regulatory records do not list this broker as a regulated entity. Traders should be aware that SVGFSA does not regulate forex brokers in the traditional sense, and the claim may refer to a company registration rather than financial services authorization.

Forex Bank Latam offers four account tiers: CENT, ECN, PARTNER, and ZERO. The CENT account is designed for beginners and educational purposes, with a minimum deposit of USD 100 and leverage up to 1:500. The ECN account is aimed at institutional traders, with leverage up to 1:300 and no specified minimum deposit. The PARTNER account is for manual and automated trading, offering leverage up to 1:500. The ZERO account is a high-end option requiring a USD 50,000 minimum deposit, leverage up to 1:1000, and zero commissions.

All accounts are quoted with spreads from 1 pip. The broker promotes its services as suitable for money managers, investment funds, and financial academies. Notably, the high leverage available on the ZERO account (1:1000) carries significant risk, especially for retail clients.

The broker offers multiple trading platforms, including its proprietary B-Trader and X-Trade, as well as MetaTrader 4. B-Trader is presented as an all-in-one brokerage solution that includes a client cabinet, trading software, copy trading with MAM/PAMM accounts, an introducing broker module, a social feed, a funding program, and a crypto payment gateway. X-Trade is described as a multi-asset platform for institutional traders, featuring customizable layouts and depth of market.

Additionally, the broker provides a copy trading platform and a trading room. The platform suite is designed to cater to both retail and institutional clients, with a focus on customization and risk management.

Forex Bank Latam offers a broad range of tradable assets, including forex pairs, spot metals (gold, silver), indices, commodities (oil, natural gas, copper), shares from US, EU, Asia, and Russia, as well as exchange-traded funds (ETFs) and cryptocurrencies. The broker positions itself as a multi-asset prime broker, supported by over 120 liquidity aggregators and processing over 85,000 orders every 24 hours, according to its website.

However, the specific list of instruments and contract specifications are not fully detailed on the public website. Traders are advised to verify available instruments and trading conditions through a demo account or by contacting the broker.

Forex Bank Latam provides support via phone, email, and a help desk. Contact numbers are listed for several countries including Argentina, Chile, Colombia, Mexico, and the United States. The broker also offers a contact form on its website for inquiries. Customer support is available 24/5, and the broker emphasizes personalized assistance for account setup and technical issues.

The company is domiciled at 305 Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines. The official email for general inquiries is contacto@forexbankla.com.

Forex Bank Latam operates without known regulatory oversight from a major financial authority. The broker's claim of SVGFSA registration does not equate to financial regulation, as SVGFSA does not supervise forex broker activities. This lack of independent regulation increases the risk for traders, particularly concerning fund safety and dispute resolution.

The high leverage offered (up to 1:1000) and large minimum deposit for the ZERO account (USD 50,000) further amplify potential risks. Traders should exercise caution and consider the unregulated status before committing funds. FXCanary's Scam Risk Score of 45/100 (Guarded) reflects these concerns.