TradeBaionics-Overview of Minimum Deposit, Leverage, Spreads

Note: Since TradeBaionics official site (https://www.tradebaionics.com/) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.

General Information & Regulation

TradeBaionics is allegedly an unregulated and blacklisted forex broker registered in the UK that claims to provide its clients with forex trading with leverage up to 1:200 and floating spreads on the web-based trading platform.

Market Instruments

TradeBaionics is a forex broker that mainly offers forex trading, however, we have no way to get more details about trading asset classes due to its broken links.

Leverage

A leverage ratio of up to 1:200 is offered by TradeBaionics, which is much higher than that provided by most brokers. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.

Spreads & Commissions

As tested at TradeBaionics demo web account, the spread for the benchmark EUR/USD pair was floating around 0.8 pips. As for commissions, the broker states that it does charge some commissions and the amount of commission is either a percentage of your trade size or a fixed percentage.

Trading Platform Available

The platform available for trading at TradeBaionics is a web-based trading platform. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

As mentioned in the Terms and Conditions, TradeBaionics states to accept payments with credit/debit card payments, bank transfers and e-wallet payments. It appears that the broker did not know what the initial minimum deposit requirement is, stating that one place would require $250, another $500, and as much as $10,000 in the account type information.

Bonuses

TradeBaionics says to offer multiple types of bonuses including a welcome bonus but did not elaborate too much on those.

Customer Support

TradeBaionics customer support can be reached by telephone: +442030052502, +442030052038 or email: support@tradebaionics.com. Company address: 60 Queen Victoria St, London EC4N 4TZ, United Kingdom.