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Banqoin Review - is it scam or safe?

Banqoin review - Is scam or good forex broker?

RATING: 1 / 3 REVIEWS ForexBrokerz Banqoin
Banqoin is an offshore broker. Your money is not safe.


Banqoin is an offshore forex and CFD broker, which seems focused on the crypto currency market. Unfortunately we have concerns about the regulatory status and the credibility of the broker as a whole, so be sure to read this review before opening a trading account with them.


Account type Min. deposit Max. leverage Spreads
Bronze Account $100 n/a n/a
Silver Account $1500 n/a n/a
Gold Account $5000 n/a n/a


Banqoin Advantages:


A good selection of crypto CFDs


One of the few advantages about this broker is the selection of crypto CFDs. We counted almost 30 pairs with coins like Zcahs, Verge, Ox, Ripple, Monero, Stellar, Tron, Augur, Neo, Litecoin, IOTA, Ethereum, Ethereum Classic, EOS, Dash, Bitcoin, Bitcoin Cash and Cardano.


Apart form the crypto assets, Banqoin also offers CFDs on gold, platinum, silver and oil, indices and stocks. The forex pairs, however, are surprisingly few – just 13 with the Russian Ruble and the Turkish Lira the only exotic currencies in the list. 


In case you are interested in the crypto market, here you may also check our list of brokers, offering Bitcoin CFDs:


>>Bitcoin Forex Brokers<<


Open a trading account with just 100 USD


This is the other clear advantage with Banqoin – one can open a trading account with just 100 USD and that is in line with what most other brokers would ask you as an initial investment. Still, have in mind that with some well established players on the market like FBS and IG you can start trading with just 5 USD or even less.


Banqoin Disadvantages:


No license


And that is our main issue with Banqoin. The broker and the companies behind it does not have a license to provide financial services on regulated markets like the European Union, the US, Australia or Japan.


Banqoin is operated by Infocom Media Ltd., which is based on the Marshall Islands, but all payments are processed by Banqasia Limited.


Have in mind that trusting your funds with unregulated brokers is rather risky as the safety of the investment depends solely on the integrity of the people, who operate those brokers.


Brokers, regulated by reputable financial institutions like the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC) on the other hand do provide sufficient safety to their traders, as they are required to abide by certain rules, among which to file regular reports, to allow external audits, to provide a negative balance protection to the customers, to keep all invested funds in a segregated, protected, trust account, to refrain form offering trading bonuses, to maintain a certain minimum capital adequacy ratio and in some case even to insure traders money.


For example all FCA regulated brokers are required to participate in a traders' compensation scheme, which guarantees up to 50 000 GBP of the invested capital in case the broker files for bankruptcy.


Similarly, if you are trading with a CySEC broker you do not have to worry for the first 20 000 EUR in your account.


Besides, here you may check our list of FCA regulated brokers:


>>FCA Regulated Forex Brokers<<


No demo account


Unfortunately we were not able to open a demo account, so we can not discuss the trading conditions. For instance, we do not know what leverage the broker offers, and we are not sure about the spread either.


The benchmark EURUSD spread on their web based trading platform floated about 1 pips, which might be considered acceptable with a standard account. And yet, as Banqoin offers three different account types - Bronze, Silver, Gold, we can not be sure, which one of them the default layout of the platform mirrors. Still, here you may check our list of brokers, offering tighter spreads: 


>> Lowest spread forex brokers<<


Be aware of the trading bonuses


Banqoin offers trading bonuses, which on first sight might seem attractive, but actually the offer is a bit tricky. Be aware that those bonuses are linked to some minimum trade volume requirement, which if not fulfilled, will prevent you from withdrawing your funds.


No payments with Neteller and Skrill 


Banqoin accepts payments only with major credit cards like VISA and MasterCard and bank wire. Unfortunately popular e-wallets like Neteller and Skrill are not available, as well as the option to pay with Bitcoins, so here is our list of brokers, accepting payments with Bitcoins:


>>Forex Brokers Accepting Bitcoin<<


MetaTrader4 not supported


Banqoin offers a rather simplified web based trading platform, which reminds us of the platforms, widely used by binary options brokers.



And although it has a decent charting package, provided by TradingView, the platform lacks many features, standard with classical trading solutions like the MetaTrader4, as for example the option to run automated trading sessions, with the help of customizable trading bots.


So here you may also check our list of broker, offering MetaTrade4:


>>MT4 Brokers<<




Banqoin is an unregulated, offshore broker with rather limited credibility and as we have discussed earlier, our best advice is to trust your money only with broker authorized by one of the trusted financial regulators in Europe, Australia or the US.

Latest news about Banqoin
No news about Banqoin. Check back later.
Broker Country Regulation Platform Min Deposit Review
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Traders` reviews for Banqoin
















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no e-mail adress working !

I am the Fool who paid in €300 on Trying to get it back, sending a Payout-Document to via, google mail could not deliver because e-mail adress does not exist !!


jochem wirtz 07/04/2019

Scammin, Betrug

Make no Business with These guys (Banqoin), all if fake, you send Money and monitor it on fake accounts, when you want the Money, you do not get it and cannot contact anyone

untitled 06/28/2019 - Vorsicht ... auch diese seite ist betrug...

vorsicht ... auch diese seite ist betrug...
meine geld ist weg... sie wollten das ich nochmal 280 euro einzahle damit ich mir meinen gewinn auszahlen kann... ich ärgere mich, dass ich nicht rechtzeitig im web nachgeschaugeschaut habe... jetzt wollte ich mich einloggen,,, dat geht jetzt auch nicht mehr. diese drecksäcke ...ich gehe auf jeden fall zur polizei und werde sie anzeigen... auch wenn das vielleicht nicht viel bringt... stelle starfantrag und dann werde ich ja sehen..

Translated by Google:
beware ... this page too is fraud ...
my money is gone ... they wanted me to pay another 280 euros so that I can pay my profit ... I am annoyed that I have not looked in time on the web nachauge ... now I wanted to log in ,,, dat goes not anymore. these dirty bags ... I'm definitely going to the police and will show you ... even if that may not bring much ... Ask starfantrag and then I'll see ..

Karina Kuschke 06/18/2019

Geld weg

Mein Broker, Peter Goldberg, veruntreute insgesamt 10.000€. An mein banqoin-Guthaben komme ich nicht dran und die Empfehlung des Brokers führte dazu, dass meine Bitcoins (bei Terrexa angelegt) plötzlich auf Null stehen.

Translated by Google:

Money away
My broker, Peter Goldberg, misappropriated a total of € 10,000. I'm not on my banqoin credit and the recommendation of the brokers meant that my Bitcoins (created at Terrexa) suddenly to zero.

Michael Zwirner 04/03/2019
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