We tested Isa-banking trading platform to find out if it’s indeed true that the broker can help traders increase their capital. This is a claim they’ve made on their homepage.

In fact, Isa Banking has also provided various account types in the presentation to try paint a picture of how they plan to achieve this promise.

On top of that, they promised fund protection, privacy of clients data, quality support and access to analytical support.

We don’t know how true these promises are. So let’s put the broker to the test but first, what are the raw details of Isa Banking as a company?

General information about Isa Banking Broker

Website of broker	https://www.isa-banking.io/
Email	support@isa-banking.io
Physical address	Not provided
License	None
Tradeable assets	Currencies, Stocks, Indices and Commodities CFDs
Trading platform	TradingView terminal
Leverage	Flexible

A quick look at the Isa-Banking.io website and their client portal review

The website is simple, easy to navigate and most importantly it has most of the information that we’re looking for.

However, I was disappointed to realize that Isa-Banking website didn’t have information about spreads and leverage.

In addition to this, they also refrained from discussing their fees. This tells you that the broker lacks transparency and just wants to slap you with surprises.

When I signed up, I was ushered into the client portal. This client portal has functions which enable clients to submit KYC documents (called verification center), a service desk, transaction history and a deposit/withdraw function.

They asked me to create an account using my basic information. However, when you sign up for a live account, they’ll request you to submit more of your personal information.

A review of the Isa-Banking trading platform

In order to bring you an honest review of this trading platform, I signed up on one of the broker’s live trading accounts.

This is a TradingView terminal. With this trading platform, you can’t choose the amount of money you want to commit in a trade like we do in MetaTrader and cTrader platforms. This is a major disadvantage since we can’t regulate our risk accordingly.

In the Isa-Banking trading platform, there are hundreds of assets to trade. You can never run out of choices or trade setups.

Unfortunately, I couldn’t use a Forex expert advisor because this TradingView platform doesn’t allow it.

Isa banking also offers a downloadable trading platform. I don’t like the way this broker is insisting via a pop up on the top right side of the screen, pestering me to download the app. What if it’s a computer virus which they’ll use to monitor my banking information?

Stop the intrusion Isa-Banking.

The account types in the Isa-Banking trading platform

There are 7 different types of accounts for trading. These are as follows:

• Basic account type: ($250-$5000)
• Bronze account type: ($5.001-$15,000)
• Silver account type: ($15,001-$50,000)
• Gold account type: ($50,001-$150,000)
• Platinum account type: ($150,001-$500,000)
• Diamond account type: ($500,001-$1million)
• Black account type: ($1 million +)

In addition to the above, Isa-banking is also offering various “savings accounts”. Of interest is their “personal savings account” which guarantees 5%-25% monthly interest. I’m very doubtful about this account type and before I believe these income claims, Isa banking needs to explain who will be trading, what their experience is and whether their P&L statement has been audited.

I am also not sure whether a Forex and CFDs broker is legally allowed to hold your money in a savings account. This is the jurisdiction of banks and not Forex brokers.

The features of the above trading accounts are differentiated based on the amount of money that one puts in.

For instance, the basic account type gives me access to a trade analyst and just a handful of assets to trade while the bigger accounts allow free withdrawals (up to a certain limit), weekly signals, education, trade analysis, financial advisory and access to hundreds of treadeable assets.

Broker’s fees and commission

Isa Banking’s terms and conditions have failed to detail the various fees and commission that this broker is charging.

I’m sure that every broker has to charge some fees to make a profit. They also have to deduct fees in form of spreads in order to continue running a successful business in the longterm.

Unfortunately, Isa-banking doesn’t address this topic. This is a big con.

Bonuses offered by Isa-banking broker

They’ve said that they’ll give bonuses. However, the terms and conditions are shallow and convoluted. Where are the numbers for instance?

The bonus policy is published in just a few paragraphs. It feels like threats rather than a bonus policy. This is the biggest joke from a broker like Isa-banking.

Deposit and withdrawal methods

All major card payments are accepted. Bank transfers and e-wallets too are accepted.

However, the broker has not discussed the fees associated with any of these payment methods.

When I signed up and made a small deposit, there was no fee deductions. But it is good that brokers highlight the relevant fees so that their clients are not caught by surprise.

Is Isa-banking a scam broker?

We feel that this broker might be a scam. They score poorly in transparency. When interacting with their website, you feel that the broker is hiding something from you. On the regulatory front, the broker is also scoring zero. Why? Because they are not regulated by any oversight authority.

The regulatory status of this broker is bad

They are unwilling to tell us their physical address and that makes it harder for me to pinpoint the exact oversight authority responsible for the activities of this broker.

As usual, we are advised to take precautions when dealing with unregulated brokers. They are known to scam traders. They are also known to be ruthless and merciless on victims.

The pros and the cons of Isa Banking

A summary of this broker review

Isa banking fails to provide satisfactory reasons why traders should trust them. It appears that all of their promises are mere hot air and if you invest with them, chances of getting scammed will be very high. In my opinion, this is a classic scam broker.

Do not forget to comment on this review. We need the community to come in and give their opinion.

Also, read my review of Likewood-invest. I feel this is yet another potential scam lurking in the wild.