TBanque Review – Don’t Trust This Broker, It’s Dangerous
We have to say, this website is awfully reminiscent of that of a renowned broker, eToro. Even the name appears in some places. However, the entity behind this one comes from a notorious island. We believe that this provider put on a perfect facade in order to defraud clients. To support our claim, we will list key evidence in the TBanque Review.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||Bank of Russia|
|Owned by:||Ton Investments Group LLC|
|Minimum Deposit:||10 – 10,000 $ (depending on the country)|
|Cryptocurrencies:||Yes – Bitcoin, Ethereum, Litecoin…|
|Types of Assets:||Forex, Crypto, Commodities, Indices, Stocks, ETFs|
|Free Demo Account:||Unavailable|
|Accepts US clients:||Yes|
Is TBanque a Scam or a Legit Broker?
Not at all. First of all, TBanque is owned by Ton Investment Group LLC from Saint Vincent and the Grenadines (SVG). Thus, it operates under a pretty relaxed jurisdiction. In addition, SVG’s regulator – the Financial Services Authority (FSA), does not issue Forex licenses.
So, TBanque is not regulated to provide FX services. As such, the shady broker could never get by in heavily regulated countries such as the UK, Cyprus, Australia, etc.
All the alleged corporate branches over the world are just a ruse to make the whole scheme seem more legitimate.
TBanque is a shady offshore provider based in Saint Vincent and the Grenadines that offers Forex, crypto and CFD trading. The dubious broker targets traders from Germany, Portugal and France.
Why Is It Safer To Choose Regulated Brokers?
After everything that’s been said, our assessment is that TBanque is extremely risky. On the other hand, you’re better off finding a broker that proudly displays a valid license issued by top-tier regulators such as the FCA, CySEC, ASIC, BaFin, CONSOB, etc.
Trust us, you won’t have to worry about the security of your funds since they will be segregated in a Tier 1 bank account. In case the market moves rapidly against you, negative balance protection is there to save the day. In order to prevent great losses, a leverage restriction of 1:30 is active.
Brokers in the UK and EU cover you with 85,000 GBP and 20,000 EUR respectively should they file for bankruptcy.
Warning from the Bank of Russia
There is a warning issued against this cunning offshore trickster. Namely, the Bank of Russia has reacted to the investment scam. That’s another reason not to trust TBanque. Below, we have provided a link to the warning.
What Platforms Does TBanque Offer? – Available Trade Software
With all the extravaganza on the website, we thought TBanque had a neat trading platform in store. Yet, we only found information about WebTrader. However, since there’s no real demo account and the broker kept giving us broken links, we weren’t able to confirm the platform.
Nevertheless, WebTrader is pretty lackluster in general. The platform only offers simple charts and indicators. It’s good just for newbies. We wouldn’t recommend it.
Famous cutting-edge Meta Trader platforms are the perfect choice for an excellent trading experience. TBanque doesn’t offer them.
Trader’s Reviews of TBanque
At the time of this writing, TBanque had 44 reviews on Trustpilot with an average score of 4.8. One might think this is a perfectly legitimate broker. However, it’s imperative you realize how fake these reviews are. The profile on the website isn’t verified.
Trustpilot even warned about them being fake. Also, the broker uses bots or even its own employees to write lies.
TBanque Range Investment Opportunities – Trading Instruments
Here’s an overview of TBanque’s available assets with examples:
- Forex currency pairs – EUR/USD, AUD/CAD, CHF/JPY…
- Indices – S&P500, DOW30, NIKKEI225…
- Commodities – natural gas, gold, copper…
- Stocks – Tesla, Samsung, Renault…
- Crypto assets – BTC, USDT, DSH, ETH…
- ETFs – AMPL, AAXJ, AGG…
It seems abundant. However, without a valid license and regulation, this list isn’t that important. Even if it is real, you don’t have the necessary security conditions to trade the instruments safely.
TBanque Fraud Risk Zones – Service Countries
When it comes to the countries in which TBanque finds potential victims, here’s a list we made after doing some research:
Unfortunately, not a single regulator from the three has issued a warning against TBanque. Therefore, it’s up to you, us and other reviewers to pressure the financial market authorities to react as the Russian central bank did. Please share information with us if you have any.
TBanque Accounts Overview
Only two account types are available:
- Retail account – 10 – 10,000 $ (depending on the country);
- Professional account – > 500,000 $;
Allegedly, the latter type comes with multiple perks such as those we listed in one of the previous sections about why it’s better to trade with a licensed broker.
However, this illicit broker is not licensed, thus we highly doubt it can provide clients with compensation. The leverage isn’t restricted either. TBanque says retail clients get 1:30 and professional ones get 1:400, but the truth is, the cap is at a whopping 1:1000. Imagine the devastating losses one would suffer at such a high level.
As for spreads, the level is unknown. The fraudster advertises commission-free trading, which makes no sense.
Information About Demo Account
According to TBanque, there is one. It offers 100,000 $ for practice. Yet, the platform was unavailable, rendering this suspicious demo account useless. With all that’s been said, we wouldn’t trust TBanque even if it did offer a valid demo account.
Partners and Promotions
As is the case with most scammers, they offer some shady affiliate or partnership program to draw you further into the scam. The purpose of these incentives is to make you either invest or invite friends to do it so that they too could get defrauded.
The fraudulent broker states that it sponsors several Serie A and Bundesliga football clubs. Maybe in some other world.
Deposits and Withdrawals
As mentioned, the minimum deposit varies depending on the country of the trader. That’s a really discriminatory policy. For example, a US trader has to pay 10 $ to open an account while an Israeli trader has to pay 10,000 $. Do you see how wrong that is?
As for the payment methods, TBanque listed quite a wide range of them:
- TBanque Money;
- Debit/credit card;
- Wire transfer;
What’s alarming here is that TBanque allows deposits up to a certain sum of money without prior verification but not allowing the same when it comes to withdrawals. That means you can pay regardless of who you are, but if you want to withdraw funds, you’ll have to prove your identity.
Scammed by TBanque Broker? – Allow Us to Hear Your Story
We don’t have a solution for the strange TBanque money option. You’ll have to call the police about it. But, for the rest of the payment methods, there are ways you could get a refund. We can assist you through the whole process so don’t hesitate to set up a consultation and learn more about chargebacks.
What Is the Chargeback Procedure?
- Credit/debit card transactions can be reversed via chargeback.
- You can request a chargeback at the issuing bank within 540 days.
- Wire transfers can be reversed using a recall.
- This process is only possible if the transaction isn’t completed yet.
- E-wallet payments require you to contact the issuing company and see what the next steps are.
Here you can book a free consultation and find out what to do for a start.
What Is TBanque?
TBanque is an offshore broker located in SVG that claims to offer Forex, crypto and CFD trading.
Is TBanque a Scam Broker?
Yes. This broker has even been blacklisted by the Bank of Russia. TBanque is not licensed.
Is TBanque Available in the United States or the UK?
Yes. The broker is available in both the United States and the United Kingdom.
Does TBanque Offer a Demo Account?
No. Despite claiming otherwise on the website, TBanque doesn’t actually offer a valid demo account.