TheExchangeBank Review – Should You Trust Brokerage?
TheExchangeBank Review – Should You Trust Brokerage?

TheExchangeBank invites its customers to “fulfill their potential and own the future they deserve.” It’s a nice story and would be possible if the brokerage was legit.

Since TheExchangeBank is not regulated, customers have no guarantees that their profit will be paid out nor that they will get the return of their initial deposit in case of any violations by the firm.

Read this detailed TheExchangeBank review and find out everything.

To add to the foregoing, we seriously recommend you to avoid fraudulent brokers such as Keler GroupTraderActive, and PrismCapital.

Broker status: Unregulated Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites:
Blacklisted as a Scam by: N/A
Owned by: N/A
Headquarters Country: UK (allegedly)
Foundation year: N/A
Supported Platforms: WebTrader
Minimum Deposit: N/A
Cryptocurrencies: Available – BTC, ETH, XRP
Types of Assets: Cryptocurrencies
Maximum Leverage: 1:400
Free Demo Account: No
Accepts US clients: Yes


Is TheExchangeBank a Trustworthy And Licensed Broker?

TheExchangeBank is an anonymous crypto trading provider allegedly based in the UK. A company needs to obtain an FCA license if it wants to offer Forex and CFD trading from this country. Upon checking the databases, we haven’t found anything about the broker TheExchangeBank.

Simply speaking, we’re facing another fraudster claiming to be in the business since 2009. This, of course, is a lie intended to ensure the trust of inexperienced investors.

Reasons Not to Trust an Unlicensed Broker

If you want to start trading and maximize your fund security, you should search for brokers with a Tier1 license from the FCA, ASIC, BaFin, CONSOB, etc. Only then will you be sure you can get reimbursed if any issue arises.

With scheme firms, such as TheExchangeBank, you have no such guarantees. If the firm vanishes with your funds, you need to seek an alternative money-back solution.

​​How Reliable Is TheExchangeBank Broker?

TheExchangeBank is not a legit financial services provider. The company claims to provide crypto trading services from the UK but has no valid FCA license. Negative reviews about withdrawals indicate that you shouldn’t trust the brokerage.

What Do Traders Think Of TheExchangeBank?

Since the company is not legitimate, there are numerous withdrawal issues. And customers are reporting those in TheExchangeBank reviews.

Before investing, we advise you to do due diligence and check the firm’s comments. Then, you’ll have a clear picture of what you can expect when dealing with the brokerage. 

In the case of this particular broker, reviews show what we already knew – the company is stealing clients’ funds and blocking their access to the trading account.

What Platform Does TheExchangeBank Offer To Trade On?

TheExchangeBank Trading Software

If you register an account, you will get access to a WebTrader. It has some basic functionalities, such as technical indicators, pending orders, and news. However, it lacks advanced features such as EAs and social trading.

If you want to be able to apply any strategies and get the best of the best, find a legit trading firm providing MT4 or MT5. These two platforms ensure quality trading and fund safety.

TheExchangeBank doesn’t offer a mobile app for Android or iOS, so all mobile users will have to access their accounts via a web browser.

TheExchangeBank Accounts Overview

TheExchangeBank Accounts

There are five highly overpriced account types to choose from.

  1. Silver – $10,000
  2. Gold – $50,000
  3. Platinum – $100,000
  4. Diamond – $250,000
  5. Corporate – $1,000,000

Each account brings more margin loans. The leverage varies from 1:200 to 1:400, and the more money you invest, the more educational materials you can get.

TheExchangeBank Broker – Countries Of Service

According to reviews, TheExchangeBank broker mainly operates in Australia and New Zealand.

However, you will find complaints from all over the globe. Since the firm is not actually licensed, it can provide its services without limitations. It has resulted in thousands of defrauded clients with no owner to file lawsuits against.

TheExchangeBank Range of Trading Markets

TheExchangeBank allows trading only in the cryptocurrency market. While specializing for a certain asset is not necessarily bad, it’s sad seeing such a lousy offer of digital currencies traded against fiats (USD, EUR, AUD).

You can access some basic cryptos, such as BTC, ETH, XRP, and 20 others. This is way lower than brokers who offer various markets can give. 

And this is just another reason to avoid TheExchangeBank trading scam.

What Trading Terms Does TheExchangeBank Offer?

The company didn’t specify its trading terms. Here’s a clause from the FAQ:

“The company reserves the right at its sole discretion to charge the “client” fees where any work conducted by the analyst or account manager representing The Exchange Bank.”

Therefore, you’ll be charged upfront for the possible service you may receive of unknown quality.

Minimum Deposit Amount

The minimum deposit remains a mystery. The Silver account starts from $10,000, but we can only hope newcomers don’t need such a large amount. Yet, the FAQ has specified the maximum, but not the minimum amount you can start with. Presumably, you can get that information after being contacted by the broker employees who will evaluate your financial situation.

What Is the Broker’s Leverage and Spreads?

The spread hasn’t been disclosed, along with other fees and commissions. Therefore, you have no clue about trading costs.

The leverage ranges from 1:200 to 1:400 against regulatory rules. The UK FCA allows retail traders’ leverage up to 1:30, being another proof that TheExchangeBank is not licensed.

TheExchangeBank Funding and Withdrawal Methods

The firm allows 3 payment methods:

  • Wire transfer
  • Crypto wallet
  • Debit/credit card

The minimum withdrawal amount is $100, and the firm charges no fees. However, you need to contact an account manager to make a deposit.

Please remember the names of the scammers Kapital ConsultACE FX, and Win iCoin and stay away from them! Also, before investing, always examine the history of internet trading organizations!

Why Is Paying In Cryptocurrency Unsafe?

Crypto payments are untraceable, and you cannot request a chargeback. Therefore, once the funds leave your wallet, they’re gone for good. 

Scammers have been exploiting this fact quite a lot in the past several years. Knowing that the wallet’s anonymity protects them, they didn’t try to withhold from stealing every penny from their customers.

Scammed by TheExchangeBank Broker? – Let Us Hear Your Story

If you have been scammed by TheExchangeBank, let us know. Our chargeback experts may be able to assist with the refund. Book your free consultation today, and let’s begin.

But What Is A Chargeback?

If you have deposited money using your debit/credit card, you can file a dispute for chargeback within up to 540 days. It’s a process where your bank recovers the money directly from the merchant. For more details, contact us right away.

What Is TheExchangeBank?

TheExchangeBank is an online crypto trading provider without any regulations.

Is TheExchangeBank a Scam Broker?

The firm claims to be based in the UK but has no FCA or any other license.

Is TheExchangeBank Available in the United States or the UK?

TheExchangeBank is available in the UK but doesn’t operate in the US.

Does TheExchangeBank Offer a Demo Account?

TheExchangeBank offers a platform overview but not a risk-free Demo account.


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