MTBankFX

MTBankFX is a retail forex and CFD broker operating as a platform of JSC MTBank, a commercial bank headquartered in Minsk, Belarus. The broker was founded on 19 August 2019, according to official records, though the bank’s website references the platform’s launch as early as 2016 in collaboration with Swiss Dukascopy Bank SA. MTBankFX is primarily targeted at Belarusian residents seeking a bank-affiliated avenue for leveraged trading.

The broker is not independently regulated; the bank itself holds a banking license from the National Bank of the Republic of Belarus (NBRB), but MTBankFX is not listed as a separate regulated entity in our records. The platform’s partnership with FTM Brokers, a company registered in the NBRB’s forex register, is presented as a regulatory safeguard.

MTBankFX is based in Belarus, with its official domain registered under mtbank.by. The parent bank, JSC MTBank, is located at 10 Tolstogo Street, Minsk, 220007, and has been operating since 1994. The broker does not disclose any other international offices, suggesting that its services are primarily for the Belarusian market.

MTBankFX was launched as the first bank-based forex platform in Belarus, according to the bank’s news announcements. The initial launch in July 2016 was a joint project with Dukascopy Bank SA, a Swiss forex broker. Over time, the platform expanded its offerings to include bitcoin futures in 2018. The broker entity itself was registered in August 2019, possibly as a separate legal structure for the brokerage operations.

The platform is integrated into the bank’s online banking system and allows clients to fund their trading accounts through the bank. The partnership with FTM Brokers appears to have replaced the earlier collaboration with Dukascopy, as per the current website.

As noted, MTBankFX does not hold its own regulatory license from any financial authority. The National Bank of the Republic of Belarus regulates the parent bank, but the brokerage activities are not directly overseen. The broker claims that its partner, FTM Brokers, is included in the NBRB’s forex register, which provides a degree of oversight.

Our risk assessment gives MTBankFX a score of 48 out of 100 (Guarded), reflecting the absence of a dedicated regulatory framework and the limited independent information available. Traders should be aware that client funds may not be covered by any investor compensation scheme.

MTBankFX offers a proprietary trading platform that is accessible via web browser and mobile devices. The platform is described as user-friendly and suitable for both beginners and experienced traders. It provides real-time quotes, charting tools, and order management features.

The broker also offers a demo account for practice trading, which is a common feature among retail brokers. The platform supports trading of CFDs on forex, stocks, indices, commodities, and cryptocurrencies. There is no mention of MetaTrader or third-party platforms.

Specific account types are not detailed on the official website. The broker appears to offer a single live trading account with no minimum deposit disclosed publicly. The demo account is available for new clients to test the platform. The website highlights the ability to start trading with as little as $20 for a stock CFD, due to the 10:1 leverage.

MTBankFX provides CFDs on major forex pairs, equities (e.g., Apple, Google, Microsoft), stock indices, commodities (like oil and gold), and bitcoin futures. Leverage is capped at 10:1 for stock CFDs, while forex and other instruments may offer different leverage ratios, though not specified. The broker does not indicate any negative balance protection.