FlowBank is a Swiss online bank providing comprehensive access to global markets. It was founded by Charles Henri Sabet, who has had a long career in banking. Sabet started FlowBank because he had a vision to create the first connected bank built for the community, by the community. FlowBank offers its clients the opportunity to invest, trade, and grow their understanding of financial markets. Since FlowBank launched, its team has grown to more than one-hundred people. FlowBank offers four different platforms, two different pricing schemes, and 24/6 multilingual customer support. Read on to see what else this Swiss institution has to offer its clients.
Pros and Cons
Pros
- FINMA & DFSA Regulations
- MT4 and MT5 Available
- 50,000+ Instruments
- Great Proprietary Platform
Cons
- Industry-Average Rollover Fees
- Limited Payment Methods Accepted
Who Is Recommended For?
We would recommend FlowBank for traders with moderate to advanced experienced levels. Additionally, traders who want to use the MetaTrader suite of products will like this bank, as it provides both MT4 and MT5. While FlowBank does provide education materials, weekly articles and newsletters, a beginner may require additional support to be able to fully utilize their suite of services and platforms.
Regulated By
- Financial Market Supervisory Authority (Switzerland)
- Dubai Financial Services Authority (Dubai)
Top Features
- CFD Trading. FlowBank offers an astounding range of assets, and you can go short or long on more than 4,500 instruments. The bank claims that it has some of the most competitive CFD spreads in the industry, with Forex spreads starting at 0.5 for EUR/USD. The maximum leverage offered is 1:200. Commodities spreads start at 0.03, metals at 0.02, and indices at 0.09. Leverage varies based on the asset in question.
- Forex Trading. You can trade over fifty different majors, minors, and exotics pairs with FlowBank. Spreads start at 0.5 for EURUSD. Assets available include AUDUSD, EURCHF, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, USDCAD, USDCHF, USDJPY and more.
- Proprietary FlowBank Platform. There are two proprietary platforms to note with this bank. One is FlowBank Pro and the other is FlowBank. FlowBank allows you to access over 50,000 financial products through just one account on your phone. You can convert money in seconds, buy fractional shares, and conduct lightning-fast trades. FlowBank Pro is the institution’s proprietary download, and you can access 50,000+ assets on that platform as well. There are two different pricing mechanisms, Classic and Platinum, as discussed in the “Pricing” section below.
- MetaTrader Suite Available. For those who prefer to use the MetaTrader suite for their trading, as opposed to an in-house platform, FlowBank provides MT4 and MT5, as well as the signals, charting features, and other high-tech add-ons that MetaTrader has become well-known for over the years.
- LiveWire. LiveWire is one of the Market News features that FlowBank provides. With LiveWire, you get daily updates and headlines about the financial markets. In addition to LiveWire, the Market News section also encompasses Market Insights, Client Position, and Analysis.
- Technical Analysis. FlowBank provides Technical Analysis on its website. This feature covers daily forecasts, correlations, and other must-know information for traders.
Overview
- Type of Bank Non-Advisory/Executionary Bank
- Regulation & Licensing Financial Market Supervisory Authority (Switzerland), Dubai Financial Services Authority (Dubai)
- Clients Accepted from Not authorized in Canada, USA, Israel, and sanctioned countries
- Assets Offered Stocks, ETFs, Funds, Options, Futures, Bonds, CFDs, Indices, Forex, Metals, Crypto-Assets
- Platforms Available Desktop, Mobile
- Mobile Compatibility iOS, Android
- Payment Types Accepted Wire Transfer, Credit Card
Account Types
|
Classic |
Platinum |
Features |
Zero Account Maintenance Fees, Capped Custody Fees Per Quarter of 50 CHF, No Minimum Investment, No Inactivity Fees |
Zero Account Maintenance Fees, Capped Custody Fees Per Quarter of 50 CHF, No Inactivity Fees |
Account Currencies |
USD, EUR, CHF, JPY, GBP + 18 other currencies |
USD, EUR, CHF, JPY, GBP + 18 other currencies |
Available Leverage |
1:200 (CFDs) |
1:200 (CFDs) |
Minimum Deposit |
None |
100,000CHF |
Commission Per Trade |
Varies Based on Asset (See Pricing Section) |
Varies Based on Asset (See Pricing Section) |
Decimal Pricing |
Up to 5 |
Up to 5 |
Trading Instruments |
Stocks, ETFs, Funds, Futures, Bonds, Options, CFDs, Indices, Forex, Metals, Crypto-Assets |
Stocks, ETFs, Funds, Futures, Bonds, Options, CFDs, Indices, Forex, Metals, Crypto-Assets |
Min. Lot Size Per Trade |
Unlisted |
Unlisted |
Spreads |
CFDs Index: From 0.09, CFDs Forex: From 0.5, CFDs Metals: From 0.02 |
CFDs Index: From 0.09, CFDs Forex: From 0.5, CFDs Metals: From 0.02 |
Demo Account |
No |
No |
Swap/Rollover Fee |
Yes |
Yes |
Copy Trading Support |
No |
No |
Trading Platforms
- FlowBank
- FlowBank Pro
- MetaTrader 4
- MetaTrader 5
Trading and Investment Tools
- One-Click Trading Yes
- Trade-off Charts Yes
- Email Alerts Yes
- Mobile Alerts Yes
- Stop Order Yes
- Market Order Yes
- Trailing Stop Order Yes
- OCO Orders Yes
- Limit Order Yes
- 24hr Trading Yes
- Charting Package Yes
- Streaming News Feed No
Compliance & Regulation
FlowBank is regulated by and abides by the rules of the Financial Market Supervisory Authority (Switzerland) and the Dubai Financial Services Authority (Dubai).
Fees & Commissions
- Rollover Fee Varies
- Margin Interest Varies
Pricing
With FlowBank, there are two different types of pricing categories. You can choose from Classic and Platinum. This institution also charges a quarterly custody fee of 0.10% plus VAT. The calculation is based on the size of your portfolio, but the fees do not exceed 50CHF. There is no dormancy fee for inactivity.
Here is an overview of the commissions that Classic charges below:
- Swiss Stocks: 0 %
- U.S./Other Stocks: 0.15% (Min. 6.50USD)
- ETFS: 0.15% (Min. 6.50USD)
- Funds: 0.15% (Min. 8CHF)
- Futures/Options: 3USD/EUR/CHF/GBP + Exchange Commission
- Bonds: 0.35% (Min. 50CHF)
- CFDs Stocks: 2 cents per share or 0.10%
With regards to Platinum pricing, here is what that account charges, as far as commissions go:
- Swiss Stocks: 0 %
- U.S./Other Stocks: 0.10% (Min. 6.50USD)
- ETFS: 0.10% (Min. 6.50USD)
- Funds: 0.15% (Min. 8CHF)
- Futures/Options: 1.50USD/EUR/CHF/GBP + Exchange Commission
- Bonds: 0.20% (Min. 50CHF)
- CFDs Stocks: 2 cents per share or 0.09%
Service Details
- Supported Languages Multiple
- Customer Service By FlowBank
- Customer Service Hours 24/6
- Email Response Time Within 24 Hours (Live Chat Available Too)
- Telephone Orders Yes
- Personal Account Manager No
Reliability & Security
FlowBank directly addresses reliability and security on its website. This bank is licensed by FINMA, the Swiss Financial Market Supervisory Authority, and it describes itself as “a financially stable company.” All customer accounts are guarded as mandated by Swiss banking regulations. Additionally, FlowBank is a member of esisuisse. This service protects customers’ cash up to 100,000CHF (the same minimum investment for a Platinum account). Furthermore, FlowBank is licensed by the DFSA, the Dubai Financial Services Authority.
According to FlowBank, digital banking itself is quite safe, particularly in Switzerland. It describes the country as the home of the “most secure” and “sophisticated” banking system in the world. Switzerland has a stable currency, legal certainty, and a stable political system, so it is one of the “most important financial centers” in the world.
User Experience
Customers trading with this institution have, by and large, had positive things to say about it. To give you an idea of what customers are saying, here are some of the ratings of FlowBank, along with their sources:
- FXEmpire: 4.6/5
- TrustPilot: 3.9/5
- Facebook: 5/5
Final Thoughts on
Overall, FlowBank is a solid and strong financial institution with the most competitive pricing in Switzerland. Though it does charge custodial fees, it does not charge dormancy fees, and the custodial fees have a cap. FlowBank offers a wide range of assets and two pricing schemes, and new and professional traders will appreciate that this institution provides several different platforms from which to trade.
Contact Info
Esplanade de Pont-Rouge 6, 1212 Grand-Lancy, Switzerland