TheExchangeBank Review – Learn More About This Scam Broker


Just by taking a look at TheExchangeBank site you can easily conclude this company isn’t a forex broker at all. The generic-looking web presentation can hardly convince you to invest due to the typical scammer’s lack of transparency and absence of essential company information. 

Any details on trading conditions are missing and you cannot even access them at the present moment because the entire site seems to be out of function. If you have already invested here, unfortunately, chances are your funds are irreversibly lost. 

Keep reading our TheExchangeBank review to get familiar with the exact details. 

Leverage 1:5000
Regulation None
Headquarters US
Minimum Deposit $500
Review Rating 1/5
Broker Type Binary options trading
Platforms N/A
Spread N/A

TheExchangeBank Regulation and Fund Security 

Considering the fact that the broker’s address seems to be in the USA, we immediately went to check the CFTC and NFA registers of regulated brokers. We weren’t shocked to find TheExchangeBank wasn’t among the companies licensed by the US financial authorities. 

The true red flag was found on the site of this phony when we looked for the regulation proofs. Comical looking edit of a business license photo, poorly edited didn’t deceive us into believing its legitimacy. The edit wasn’t even done by the fraud itself, the ‘’license’’ was supposed to belong to Smartrading Options, a company we found nothing on. 

Hypothetically speaking, if the license was real, it is far from sufficient for US-based brokerage agencies. Providing online financial services for US residents is possible after being regulated by CFTC and NFA, two top-tier regulators with quite strict regulatory standards.

First off, broker firms aiming for a license have to give proof of owning a beginning capital of even $20 000 000 to start a sustainable business project. That’s more than anywhere else in the world. Even if they manage to have this much to invest in their brokerage business, other strict conditions apply.

Client funds segregation, leverage restriction to 1:50, and transaction reporting to ensure transparency and prevent funds misuse are also a must. Sounds almost unreachable for a petty excuse of a broker that TheExchangeBank is. 

TheExchangeBank Trading Platform Overview

Don’t hold your breath waiting for this phony to provide an appropriate trading platform. The preview of a trading chart has shown us the reality of this broker is a binary options trading terminal. However, considering everything they showed is a lie, it’s highly doubtful if even binary options trading is possible. 

Nonetheless, this sort of financial manipulation is strictly forbidden, as it doesn’t represent buying and selling of actual instruments. Being a pure gamble, it has become illegal and unacceptable. 

Since TheExchangeBank does not even provide a working platform with actual tradable assets and options for trading them, do not trust this fraud. 

Available Account Types

There are several sorts of accounts present on the site and they’re all quite pricey. Take a look: 

  • Starter – $500
  • Silver – $7 500
  • Gold – $30 000
  • Platinum – $75 000

Obviously a scam, TheExchangeBank did not even put a slight effort into making these expensive account types even seemingly worthy. No clear trading conditions except the promise of huge daily returns are far from motivating for investors. 

 Do not forget the simple fact that regulated brokers require little to no investing before allowing you to trade on their platforms. Choose that before TheExchangeBank and see for yourself why trading with licensed enterprises is more recommended. 

Trading Instruments and Markets

It is known that most regulated brokers offer access to thousands of trading instruments. For easier access and sorting, tradable assets are usually divided into several categories like forex, crypto, commodities, shares, indices, etc. All that is followed by good trading conditions and adjustable variables to ensure every trader can plan their strategy according to their level of expertise and investing abilities. 

Being a binary options trading scam, TheExchangeBank cannot offer access to the mentioned conditions and instruments variety. Stay away before you become another victim of cyber theft!

TheExchangeBank Deposit and Withdrawal

Do not neglect an important condition this fraud imposes on their clients. Crypto funding is the only type of deposit allowed. Forcing investors to only deposit via crypto is a typical scammer move. 

No scammer wants to reveal their actual identity and crucial information that could potentially expose them. By accepting only crypto investing, they can remain anonymous when a client requests a refund. 

The minimum amount required for depositing and opening an account is $500. Even this by itself stands out as a warning against this broker. Legitimate brokerage sites ask for far less. 

Any information we tried to get about withdrawals and possible fees is completely amiss. Another important aspect of trading remains vague and it’s another reason why not to trust TheExchangeBank. 

I Was Scammed by TheExchangeBank – How Can I Get My Money Back?

Please take our warning seriously and prevent being scammed. Depositing in crypto is highly risky, so only choose to invest in ways that can ensure the possibility of a chargeback. These are credit/debit card deposits that can be refunded as long as you issue the chargeback request before the period of 540 days expires. 

Do not waste time if you suspect you were scammed – refer to your bank and local authorities as soon as possible. It is important to mention the existence of so-called recovery agents. Another part of the great scamming scheme, they will offer their services and supposedly ensure you get your refund for a price, of course. 

Avoid dealing with them and just seek help from reliable sources. We are at your disposal if you’re still having doubts about TheExchangeBank and ways of requesting a refund.

TheExchangeBank Summary

Our TheExchangeBank review was meant to clear some doubts and make sure possible investors do not become victims of theft. In short, we’d like to bring to your attention these several key points about this bogus broker:

  • Missing license – the attempt to pass as licensed with a poorly edited business license photo seems immature for a supposedly serious company. 
  • Anonymity – lack of transparency and missing crucial information on the company background is suspicious and makes this broker not quite trustworthy. 
  • No functional trading platform – a preview of a trading chart is far from being a reliable trading terminal. Functional software is the most important part of the trading process. The broker that doesn’t provide it is not a broker you should even consider investing with!
  • Disturbing lack of withdrawal and fee policies – not giving details on these important aspects puts more doubt on this already shady brokerage site.  

FAQs About TheExchangeBank Broker

Is TheExchangeBank A Good Broker?

No, this broker is not reliable, licensed, or authorized to perform the services it supposedly offers.

How Long Do TheExchangeBank Withdrawals Take?

This information is completely missing from the site and no withdrawal policy exists.

Does TheExchangeBank Offer a Demo Account?

No, TheExchangeBank doesn’t offer the possibility of trading with virtual funds. You have to invest at least $500 to be able to trade.


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Our Recommendations
Nov 17, 2022
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