TradeBaionics-Overview of Minimum Deposit, Leverage, Spreads

Note: TradeBaionics's official website - https://www.tradebaionics.com/ is currently inaccessible normally.

Founded in 2021 in the United Kingdom, TradeBaionics is a forex broker, whose minimum deposit is as high as $10,000. Besides, traders can only trade on the web-based platform. Though its leverage is up to 1:200, it is not regulated.

Pros and Cons

Is TradeBaionics Legit?

No, TradeBaionics is not regulated by any financial authorities. It means that it doesn't need to obey the rules of any regulations. Please be aware of the risk!

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.

Spread and Commission

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

Deposit and Withdrawal

TradeBaionics supports deposit and withdrawal via credit/debit cards, bank transfers, and e-wallets.