Flowbank is a Swiss online broker that was founded in 2019. The company offers a variety of trading products, including forex, CFDs, and cryptocurrencies. However, there have been some concerns about whether Flowbank is a legitimate broker or a scam.
Company Overview
Flowbank is a privately held company headquartered in Geneva, Switzerland. The company is registered with the Swiss Financial Market Supervisory Authority (FINMA). However, Flowbank is not regulated by any other financial regulator.
Does Flowbank Have Any License?
Yes, Flowbank has a banking license from FINMA. However, it is important to note that a banking license does not automatically mean that a broker is legitimate. There have been cases of unlicensed brokers who have obtained banking licenses in order to appear more legitimate.
Is Flowbank Regulated By Any Authority?
No, it is not regulated by any other financial regulator. Having a banking license does not mean that they are regulated. Being regulated and being licensed is not the same. This is a major red flag, as it means that the company is not subject to any independent oversight.
Pros and Cons
Pros:
- Flowbank is a Swiss company, which gives it a degree of legitimacy.
- They have a user-friendly trading platform.
Cons:
- Flowbank is not regulated by any major financial regulator.
- Flow bank has a high minimum deposit requirement.
- Flowbank’s spreads are wider than those of some other brokers.
How Does Flowbank Reach To Their Prey?
Flow bank targets new traders who are looking for a legitimate broker. The company uses a variety of methods to reach its target audience, including online advertising, social media, and cold calling.
Technical Details of Flowbank
Minimum Deposit:
The minimum deposit requirement for Flowbank is CHF 100,000. This is a high minimum deposit requirement, which may make the broker inaccessible to some traders.
Trading Platform: Flowbank offers 4 trading platforms. Flowbank App, FlowBank Pro, Meta Trader 4, and MetaTrader 5. The platform is user-friendly and offers a variety of features, including charting, technical analysis, and order execution.
Spread:
The spreads on Flowbank are wider than those of some other brokers. This means that traders will pay more in fees when they trade with Flowbank.
Leverages:
They offer leverage up to 1:30 for forex trading. This is a relatively low level of leverage, which may be a disadvantage for traders who are looking to trade with high levels of leverage.
Packages and Products They Offer
Flowbank offers a variety of trading products, including:
- Forex
- CFDs
- Cryptocurrencies
- Stocks
- ETFs
The company also offers a variety of account types, including:
- Standard account
- Active account
- VIP account
Withdrawal and Deposit Method
Flowbank offers a variety of withdrawal and deposit methods, including:
- Bank wire transfer
- Credit card
- Debit card
- PayPal
What Do Their Previous Traders Say?
There are a number of complaints about Flowbank online. Some traders have complained about the high minimum deposit requirement, the widespread, and the lack of customer support.
Summing Up- Why Should Not You Trust Flowbank
There are a number of reasons why you should not trust Flowbank. The company is not regulated by any major financial regulator, it has a high minimum deposit requirement, and its spreads are wider than those of some other brokers. Additionally, there are a number of complaints about Flowbank online.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with Flowbank, you may be able to recover your funds through a chargeback or a refund. You can also contact a financial recovery company for help.
We provide free consultation calls and recovery service recommendations to help in recovering the lost funds.
If you have lost money with Flowbank or any other scam broker, please contact us for a free consultation. We can help you understand your options and recommend the best course of action for recovering your funds.
File A Complaint Against Scam Broker's
Final Thoughts
Flowbank is a risky broker that should be avoided. The company is not regulated by any major financial regulator and has a number of red flags. If you are looking for a legitimate broker, you should choose one that is regulated by a reputable financial authority.
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