FOREXBANK LATAM has been flagged by Comisión para el Mercado Financiero (Financial Market Commission) for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Cons: Appears in regulatory warnings database|Uncertain regulatory status
My card was charged twice by FOREXBANK LATAM on the same day. I had to dispute it with my bank. FOREXBANK LATAM then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Two-factor authentication|Risk management tools|Wide product range
Cons: Could offer more webinars
FOREXBANK LATAM locked my account without warning and demanded documents I had already submitted. since I opened my account last year later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Easy to use platform|Responsive team|Dividend tracking|Market news feed
Cons: Wish they had more educational resources|Wait times can be long during peak hours
Tried to withdraw my funds from FOREXBANK LATAM and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Professional looking website
Cons: No regulatory oversight|Money disappeared|Fake testimonials
Where do I even begin with FOREXBANK LATAM? since mid-2025 of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Competitive fees|Tax reports included|Excellent charting
Cons: Limited demo account features|Cannot customize dashboard fully
I lost a significant amount because FOREXBANK LATAM did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Easy to use platform|Economic calendar|Educational resources|Demo account available
Cons: Minimum deposit could be lower|Charting tools need more indicators
I have been trying to close my account with FOREXBANK LATAM for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Low minimum deposit|Transparent fees|Smooth onboarding|Great customer service
Cons: Could offer more webinars|Wish they had more educational resources
The only good thing about FOREXBANK LATAM is that they remind you why regulation matters. I found them after a trusted YouTuber reviewed them. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Tax reports included|Social trading features|Demo account available
Cons: Minor UI glitches occasionally
After doing some research AFTER the fact (I know, I should have done this first), I discovered that FOREXBANK LATAM is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Lost entire investment|Reported to authorities|Unresponsive
I requested my data from FOREXBANK LATAM under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Professional team|Personal attention
Cons: Onboarding videos are outdated|Limited social trading features