What is BANANCE？
BANANCE is a non-regulated broker based in the United Kingdom. It allows users to open multiple accounts and access indices, futures, bonds, and forex. Without any regulatory authority, users should be more cautious about trading with this broker.
Pros & Cons
Pros:
MT5 Supported: BANANCE supports the MetaTrader 5 (MT5) trading platform, known for its advanced features and capabilities.
24/7 Customer Service: The platform offers round-the-clock customer service, providing users with assistance and support at any time.
Copy Trading Available: BANANCE provides a copy trading feature, allowing users to replicate the trades of experienced traders.
Cons:
No Regulation: BANANCE operates without regulatory oversight, indicating a lack of adherence to established financial standards and potentially posing risks to users.
Info on Key Trading Conditions Are Missing: Crucial information such as leverage, spread, commission, and minimum deposit is not provided, leaving users uninformed about essential aspects of the trading environment.
Is BANANCE Safe or Scam？
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Market Instruments
BANANCE offers a diverse range of market instruments, including indices, futures, bonds, and forex. This comprehensive selection provides traders with the opportunity to engage in various financial markets, allowing for diversification of trading strategies and the exploration of different asset classes. Whether traders are interested in stock indices, futures contracts, government bonds, or forex trading, BANANCE provides a variety of market preferences.
Account Types
BANANCE offers a range of four account types, namely Bronze, Silver, Gold, and Platinum. Each account tier provides a progressively enhanced trading experience, with higher status accounts offering better features, more comprehensive support, and improved trading conditions such as lower spreads. Traders can choose the account type that best suits their experience level and trading requirements.
Trading Platform
BANANCE offers the MetaTrader 5 (MT5) trading platform, providing users with a versatile and feature-rich environment for flexible trading across Forex, Stocks, and other securities. The platform supports two position accounting systems, netting and hedging, and allows an unlimited number of charts with 21 timeframes and one-minute history of quotes.
Traders benefit from a comprehensive set of technical analysis tools, including over 80 built-in indicators, as well as fundamental analysis based on financial news and an economic calendar. The platform also features algorithmic trading capabilities through the built-in MQL5 development environment, Trading Signals for copying experienced traders' deals, a system of alerts to monitor important market events, and the convenience of a built-in Forex VPS (Virtual Private Server).
Customer Support
BANANCE provides comprehensive customer support available 24/7 through various channels. Users can contact the support team via telephone at +447389645036, email atsupport@banancee.com, or through the contact form on the platform's website. Additionally, live chat assistance is offered for immediate queries. The company also maintains a presence on popular social media platforms such as Facebook, Twitter, Pinterest, and Instagram, allowing users to connect and seek assistance through these channels.
Conclusion
BANANCE, based in the United Kingdom, is a non-regulated broker providing access to a variety of financial instruments, including indices, futures, bonds, and forex. The platform supports the popular MetaTrader 5 (MT5) trading platform, offering advanced features and 24/7 customer service. However, users should exercise caution due to the lack of regulatory oversight and the absence of key trading condition information.
Frequently Asked Questions (FAQs)
Q: Which trading platform does BANANCE support？
A: BANANCE supports the MetaTrader 5 (MT5) trading platform, known for its versatility and advanced features.
Q: Is BANANCE regulated？
A: No, BANANCE operates without regulatory oversight, lacking an official license. Traders should be cautious due to the potential risks associated with non-regulated brokers.
Q: Does BANANCE support MT4 or MT5？
A: Yes, it does support MT5.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
