FlowBank Review 2024


4 / 5
FlowBank is #107 in our CFD broker rankings.

FlowBank is an excellent fit for active Swiss traders looking to build a diverse portfolio with a wide range of instruments and ultra-low fees, including zero commissions on Swiss stocks. The 20+ accepted currencies, $0 minimum deposit, and 4 platforms also make the broker accessible to global traders.

- Daytrading Review Team

FlowBank is a regulated bank and trading broker with a wide range of instruments including forex, funds, cryptos and thousands of stocks, that offers direct and high-leverage CFD trading on the MetaTrader 4 and MetaTrader 5 platforms. Traders benefit from ultra-tight spreads, low or no commissions and a free stock joining bonus.

$0
MT4, MT5
CFDs, Stocks, ETFs, Funds, Commodities, Cryptos
Free Welcome Stock Up To 500 CHF
USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, HUF, THB
Wire Transfer, Credit Card
Forex Trading

Trade 50+ major, minor and exotic pairs with spreads form 0.5 pips, no commissions and leverage up to 1:200. Importantly, the heavily regulated broker also provides a relatively secure forex trading environment.

Stock Trading

Invest in Swiss stocks with zero commission or stocks from the US, UK and EU markets for commissions of 0.1% or minimum 6.5 EUR. Stock CFDs are also available, offering exposure to rising and falling prices with leverage.

CFD Trading

Trade 4500+ CFDs with tight spreads and no commission except stocks. Choose between 4 different trading platforms and apps, including MT4, MT5 and proprietary options. The broker also sometimes offer joining promotions.

Crypto Trading

Speculate on crypto markets via 10 crypto/USD pairs as well as ETPs, ETNs, ETF, tracker certificates and closed-end funds. This range of derivatives offer diversified exposure to digital markets that aren't found at many alternatives.

✓ Pros

  • Registered bank with regulatory oversight from FINMA
  • Demo account with a quick sign-up process
  • MT4 integration for desktop, web and mobile
  • No minimum deposit for traders on a budget
  • Full range of investments with 4500+ assets including crypto derivatives
  • Wide range of account base currencies catering to global traders

✗ Cons

  • Limited deposit options apart from wire transfer and bank cards
  • No copy trading service for aspiring traders

FlowBank is a Swiss-regulated bank that offers retail trading and investing on 50,000+ instruments spanning CFDs, forex, stocks, ETFs, funds, and cryptos. Spreads start from 0.0 pips and the broker offers the MT4 and MT5 apps. But is FlowBank a good broker?

This expert review unpacks funding options, minimum deposits, trading fees, demo accounts, and more. Read on for our opinion and verdict on FlowBank.

Company Details & History

FlowBank is a Swiss bank that offers online trading services. Headquartered in Geneva, with an additional office address in Zurich, the brokerage is regulated by the Financial Market Supervisory Authority (FINMA) and boasts the lowest fees in Switzerland.

Owner and CEO Charles Henri Sabet founded the firm, originally Synthesis, in 1991 and a banking license was secured in 1999. In 2004, the company was restructured to focus on online trading services for retail investors. This company was then sold to SaxoBank in 2007, and the FlowBank brand as it’s now known was established in 2020.

In 2021, CoinShares invested over $11 million in FlowBank, holding a 9.02% share of the broker’s capital.

Trading Platforms

FlowBank offers four trading platforms, providing more options than many competitors. This includes a proprietary mobile app and desktop terminal, plus access to the industry-renowned MetaTrader 4 and MetaTrader 5.

The platforms are designed for day traders of all experience levels, though FlowBank Pro features sophisticated tools and functionality that are more suitable for advanced investors.

Access to instruments varies between platforms. Investors using the MT4 and MT5 terminals cannot trade stocks, ETFs, bonds, options, or futures.

FlowBank Pro

Trade all 50,000 instruments across seven asset classes in one interface.

How To Place A Trade On FlowBank Pro

  1. Download the FlowBank Pro platform or open the web terminal
  2. Login with your registered user credentials
  3. Click on the ‘Order’ icon from the top menu
  4. Select the instrument to trade and drag it to the order module page (located by default on the right-hand-side)
  5. Select the order type and duration (day, GTC, IOC, or FOK)
  6. Click ‘Buy’ or ‘Sell’

How To Use The Basket Trader Module

  1. Drag the instruments of choice into the Basket Trader module
  2. Specify the number of instruments to include in the ‘basket’ order
  3. Select the ‘side’ for each instrument (buy or sell)
  4. Add a basket multiplier price (if desired) in the bottom left icon
  5. Select ‘Buy’ or ‘Sell’

Popular themes include travel & leisure, sports & athletics, and energy transition.

MetaTrader 4

Trade 4500+ instruments with leverage up to 1:200.

MetaTrader 5

Trade 4500+ instruments with leverage up to 1:200.

FlowBank MetaTrader 5 platform
MetaTrader 5

Assets & Markets

FlowBank offers an impressive list of 50,000 trading instruments:

FlowBank excels in its range of trading instruments, providing greater portfolio diversification opportunities than many online brokers. The range of crypto investments is particularly strong.

Spreads & Fees

When we used FlowBank, we were impressed with the low trading and investing fees, with ultra-tight spreads and low to zero commissions.

Fees vary by user status (Classic or Platinum) and instrument. There is no minimum deposit requirement for Classic members, however, to benefit from improved pricing conditions, Platinum members must invest 100,000 CHF.

Classic

While using FlowBank Classic, we were offered minimum spreads of 1.1 pips on the EUR/USD currency pair and 1.18 pips on the EUR/GBP.

Platinum

While using FlowBank Platinum, we were offered minimum spreads of 0.5 pips on the EUR/USD currency pair and 0.7 pips on the EUR/GBP currency pair.

There are no account maintenance charges or inactivity fees for dormant profiles. Additionally, day traders can be reassured of a maximum of CHF 50 custody fees per quarter.

FlowBank Leverage

FlowBank offers leverage up to 1:200. This is much more than brokers with regulatory oversight from ESMA regions capping at 1:30.

Leverage varies by instrument. When we used FlowBank, we were offered the maximum leverage ratio when trading major currency pairs and indices including the S&P 500, FTSE 100, and DAX 40. Crypto investments were offered at 1:10.

Mobile App Review

A major advantage of the broker is the proprietary FlowBank mobile app. It is available to download to iOS and Android (APK) devices from the relevant App store. Users can access all the tools and features available on the Pro desktop terminal.

The mobile platform is easy to use for beginners and provides all the advanced features needed for experienced traders. Day traders can monitor and track open positions, place new trades, use real-time graphs/charts, create watchlists, or view financial news and research notes with the click of a button. The app has an impressive 4.5/5 rating on the Google Play Store.

FlowBank mobile trading app
FlowBank App

Both MetaTrader platforms are also available to download as mobile-compatible applications. The fully customizable app interfaces allow users to add indicators, read live market news, view custom charts, and analyze price quotes. Day traders can also set up alerts and notifications.

Payment Methods

The FlowBank team accepts deposits via bank wire transfer or credit card.

FlowBank supports more than 20 currencies including USD, EUR, GBP, ZAR, AED, and HKD. A foreign exchange rate conversion fee of 0.5% applies if trading in a currency other than the account denomination.

Credit/debit card payments are processed within ten minutes. Bank wire transfers can take up to three working days. Swift/BIC code and IBAN details are available on the broker’s website.

There is no minimum deposit requirement for the Classic account. Platinum users must deposit at least 100,000 CHF.

How To Deposit To A Live Trading Account

  1. Log in to the FlowBank client portal
  2. Select the ‘Transfer’ icon
  3. Click on the ‘Add Money’ icon
  4. Choose either a bank wire transfer or credit card
  5. Enter the relevant payment details such as account number or card number
  6. Click ‘Deposit’

The broker offers three withdrawal methods; domestic transfers, international payments, and subaccount transfers. Domestic payments are ideal for Swiss residents withdrawing CHF to a bank account in Switzerland. These typically offer quicker fund processing times vs international transfers.

Account Types

There are just two account types; Classic and Platinum. As mentioned in the fees section above, the Platinum profile offers improved trading conditions, though minimum account funding of 100,000 CHF is required.

Personal performance reports and portfolio analysis summaries can be accessed via the client portal. Click on the ‘Account’ tab followed by ‘Report Center’ to access download options. This includes annual trading reports, assets under management (AUM), and portfolio summaries such as dividends, stock ownership, and shareholder details. This information can be used for tax statement completion.

How To Open An Account

It is relatively quick to open a new FlowBank account. Click on the ‘Visit’ button at the top of the review, then the ‘Open Account’ icon within the menu and complete the required fields.

Day traders will need proof of identity such as a passport and proof of residency dated within the last six months. This can be actioned via document upload or a video onboarding option.

Once approved, all account features can be accessed within 10 minutes.

Demo Account

FlowBank offers demo trading accounts on the MetaTrader platforms, similar vs Interactive Brokers and Swissquote. Users can practice investing with virtual funds and leverage. Put the tools and features of the online terminals to the test in a risk-free trade environment. On the downside, the FlowBank Pro platform is not available in the demo trading environment.

New users will need to register for a profile to access a paper trading account. Click on ‘Open An Account’ and register with personal details, including name, email, and phone number. Click ‘Get Started’ and create a password.

Deals & Promotions

Day traders can benefit from several promo incentives. This includes a free stock upon sign-up (worth up to 500 CHF) and a referral scheme.

The refer a friend promotion offers a 100 CHF reward when a new account is opened and a deposit of at least 1000 CHF is made using the referral link. Active day traders can also claim a 3 CHF rebate for every 1 million CHF traded on the MetaTrader terminals. Previous deals have also included live trading games and competitions.

As with all bonus rewards, always review the terms and conditions before signing up to avoid unrealistic turnover and revenue requirements.

Regulation & Licensing

FlowBank is regulated by the Swiss Financial Market Supervisory Authority (FINMA). The central authority controls financial institutions within Switzerland. The regulator is renowned for strict rules and all brokers within the country must also hold bank licenses.

With this comes membership to esissuisse, a Swiss deposit insurance scheme. It is compulsory for all banks in Switzerland to be members, providing customers with up to 100,000 CHF compensation in the case of business insolvency.

But while the Swiss regulatory oversight is a good sign that the broker is trustworthy, it’s worth pointing out that the firm does not hold a license with the FCA, CySEC, or ASIC like many competitors.

Additional Features

FlowBank offers various resources and educational materials to enhance the trading experience. This includes daily market research, newsletters, and courses.

The broker has a useful ‘Flow TV’ YouTube channel with daily insights and market reviews.

 

Education

The broker has a comprehensive online Learning Center with a range of articles, integrated videos, and insights suitable for beginners. Information includes supply and demand trading strategies for beginners, cryptocurrency overviews, and how to trade foreign exchange. Day traders can subscribe to the latest publications with a registered email address.

The education academy also offers several ‘how to’ video guides for the FlowBank platform and associated tools. Popular themes include how to open/close an account, understanding margin calls, the process of downloading financial statements, and an introduction to using technical analysis indicators.

Keep an eye on the broker’s website for upcoming events and webinars.

Technical analysis forecasts are also published via Technical Speak Easy with daily reports of forex, indices, and commodities trading opportunities.

FlowBank technical analysis

Trading Hours

FlowBank trading hours vary by instrument. Currency pairs, for example, can be traded from 11 PM Sunday to 11 PM Friday. CFDs on Swiss equities are available to invest between 9 AM and 5:20 PM (CET). Cryptocurrency can be invested 24 hours a day, seven days a week.

A full trading hours list is available on the broker’s pricing specification document.

Customer Service

FlowBank offers 24/6 customer support, which is in line with most of the industry.

Contact details:

An adequate online Help Center can be found on the FlowBank website with access to self-help support.

The broker is also present on social media sites including Instagram, LinkedIn, and Twitter. Stay up to date with news from the founder and view peer traders’ questions and answers via online forums.

Security & Safety

As an online bank, FlowBank integrates some of the highest security controls. Investors can be assured of a secure trading environment. The mobile app enables two-factor authentication and banking notifications of transaction attempts, failed login attempts, and completed wire transfers.

Having said that, the broker does not offer negative balance protection.

FlowBank Verdict

FlowBank has established itself as a safe and secure financial institution and trading broker. Licensed by FINMA with a membership to esissuisse, clients can trade and invest with strong regulatory oversight. The vast number of trading instruments, high leverage, and access to educational resources make it a good option for both beginners and experienced traders.

FAQs

Is FlowBank Safe?

FlowBank offers a relatively safe and secure trading environment. The broker is regulated by the Swiss Financial Market Supervisory Authority (FINMA) and is a member of esissuisse with 100,000 CHF compensation available to retail investors in the case of insolvency and complaints.

Is FlowBank A Good Or Bad Broker?

FlowBank is a solid online broker. With over 50,000 instruments, 4 trading platforms and apps, plus low fees, it’s a good pick for retail traders and investors. The regulatory oversight from FINMA also makes it a particularly strong option for traders based in Switzerland.

Does FlowBank Offer High Leverage?

Retail investors can access leverage up to 1:200 when trading with FlowBank. This is relatively high vs other regulated brokers, which often limit leverage to 1:30.

Is There A Minimum Deposit Requirement To Open A FlowBank Trading Account?

There is no minimum deposit requirement for a FlowBank trading account. However, to open a Platinum profile and benefit from improved fees, a 100,000 CHF deposit is required.

What Trading Platforms Does FlowBank Offer?

FlowBank offers four trading platforms; FlowBank Pro, FlowBank App, MetaTrader 4, and MetaTrader 5. The terminals can be downloaded to desktop devices, opened as web platforms, or installed on mobile devices. All applications provide technical and fundamental analysis functionality with instant and pending orders.

Top 3 Alternatives to FlowBank

Compare FlowBank with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
    Go to Interactive Brokers
  3. Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they provide a huge range of day trading markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
    Go to Forex.com

FlowBank Comparison Table

Compare FlowBank With Similar Brokers
FlowBank IG Interactive Brokers Forex.com
Rating 4 4.4 4.3 4.5
Markets CFDs, Stocks, ETFs, Funds, Commodities, Cryptos CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, Spot Metals
Demo Account Yes Yes Yes Yes
Minimum Deposit $0 $0 $0 $100
Minimum Trade 0.01 Lots 0.01 Lots $100 0.01 Lots
Regulators FINMA FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB NFA, CFTC
Bonus Free Welcome Stock Up To 500 CHF Active Trader Program With A 15% Reduction In Costs
Education Yes Yes Yes Yes
Platforms MT4, MT5 Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Leverage 1:200 1:30 (Retail), 1:250 (Pro) 1:50 1:50
Payment Methods 2 6 6 8
Visit Visit Visit Visit
Review IG
Review
Interactive Brokers
Review
Forex.com
Review

Compare Trading Instruments

Compare the markets and instruments offered by FlowBank and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare FlowBank Trading Instruments
FlowBank IG Interactive Brokers Forex.com
CFD Yes Yes Yes No
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes No Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No No No No
Crypto Yes Yes Yes No
Futures Yes Yes Yes No
Options Yes Yes Yes Yes
ETFs Yes Yes Yes No
Bonds Yes Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index No Yes No No

FlowBank vs Other Brokers

Compare FlowBank with any other broker by selecting the other broker below.

 

The most popular FlowBank comparisons:

  1. FlowBank vs Swissquote
  2. FlowBank vs Interactive Brokers

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FlowBank is a regulated bank and trading broker with a wide range of instruments including forex, funds, cryptos and thousands of stocks, that offers direct and high-leverage CFD trading on the MetaTrader 4 and MetaTrader 5 platforms. Traders benefit from ultra-tight spreads, low or no commissions and a free stock joining bonus.