HELLO BANK Spreads, leverage, minimum deposit Revealed

Aspect	Information
Registered Country/Area	Austria
Founded Year	2-5 years
Company Name	HELLO BANK
Regulation	Lacks valid regulation
Minimum Deposit	€1,000 for all account types
Maximum Leverage	Up to 1:30 for major currency pairs, 1:20 for other assets
Spreads	Typical spread of 0.2-0.5 pips on major currency pairs
Trading Platforms	Web-based platform, mobile app, and desktop platform available
Tradable Assets	Bonds (government and corporate), Shares, ETFs, CFDs, Futures, Options
Account Types	Hello One (No-cost account), Hello Prime (€5 per month)
Demo Account	Information not provided
Islamic Account	Information not provided
Customer Support	Facebook: HELLO BANK Facebook Page, LinkedIn: HELLO BANK LinkedIn Page, Phone: +43 50 5022 222 , Email: info@hellobank.at
Payment Methods	Information not provided
Educational Tools	Information not provided

Overview of HELLO BANK

　　HELLO BANK is an Austrian financial institution that has been operating for a period of 2-5 years. However, it is worth noting that HELLO BANK lacks valid regulation, which raises concerns about the legitimacy and safety of its services. This absence of regulatory oversight may pose potential risks for individuals considering its financial offerings.

　　In terms of market instruments, HELLO BANK provides a variety of options to its customers, including bonds, shares, exchange-traded funds (ETFs), contracts for difference (CFDs), futures, and options. These instruments cover a wide range of assets, from government and corporate bonds to global shares and various types of ETFs. While the availability of these instruments may attract traders and investors, it is essential to exercise caution due to the aforementioned regulatory concerns.

　　HELLO BANK offers different account types to cater to various banking needs, with options like “Hello One” and “Hello Prime.” Leverage is available for CFDs, and the platform charges spreads and commissions on trades. Additionally, a minimum deposit requirement of €1,000 applies to all trading accounts. Despite the variety of offerings, potential customers should carefully consider the regulatory aspects and associated risks before engaging with HELLO BANK's services.

Pros and Cons

　　HELLO BANK presents several advantages and drawbacks for potential users. On the positive side, it offers traders leverage options, provides multiple account types catering to various needs, and offers a range of trading platforms. Moreover, it allows free deposits and withdrawals in specific area. However, it is important to note that the bank's regulation is not entirely clear, the main website may encounter occasional downtime, and there is a high minimum deposit requirement. Additionally, customer support options are limited, and the web platform offers only basic functionality, potentially posing a risk to users.

Pros	Cons
Leverage options for traders	Unclear regulation
Multiple account types available	Main website is currently down
Multiple trading platforms available	High minimum deposit requirement
Free deposits and withdrawals in specific areas	Limited customer support options
	Basic functionality of web platform
	Potential risk associated with services

Is HELLO BANK Legit？

　　HELLO BANK lacks valid regulation, indicating a potential risk associated with their services.

Market Instruments

　　BONDS:

　　HELLO BANK offers various types of bonds, including government bonds like Austrian government bonds (Bundesobligationen), European government bonds (Eurobonds), and US government bonds (Treasury bonds). They also provide corporate bonds, such as corporate bonds (Unternehmensanleihen), investment grade bonds (Investment Grade), and high yield bonds (High Yield). Additionally, other bonds issued by international organizations, like European Investment Bank bonds (EIB bonds) and World Bank bonds (IBRD bonds), are available.

　　SHARES:

　　The platform features a selection of shares, encompassing Austrian shares from companies listed on the Vienna Stock Exchange (Wiener Börse), European shares from major European stock exchanges like the Frankfurt Stock Exchange (Deutsche Börse), London Stock Exchange (LSE), and Paris Bourse, as well as US shares from the New York Stock Exchange (NYSE) and Nasdaq Stock Market. Global shares from various international stock exchanges are also included.

　　EXCHANGE-TRADED FUNDS (ETFs):

　　HELLO BANK provides ETFs, including stock ETFs like MSCI World ETF (SWDA) and S&P 500 ETF (SPY), which track baskets of stocks. They also offer bond ETFs, such as iShares Core Euro Government Bond UCITS ETF (IEAG) and iShares Core US Aggregate Bond UCITS ETF (IAGG), which track bond baskets. Other ETFs covering asset classes like commodities, currencies, and real estate are available.

　　CFDs:

　　The platform offers CFDs, including stock CFDs that allow traders to speculate on individual stock price movements. Index CFDs, such as those related to the FTSE 100 and S&P 500, enable speculation on stock market index movements. Commodity CFDs, encompassing commodities like oil, gold, and wheat, as well as currency CFDs tied to currencies like the euro and US dollar, are also part of their offerings.

　　FUTURES:

　　HELLO BANK provides futures contracts, including stock futures, which oblige traders to buy or sell specific numbers of shares at predetermined future prices. Index futures allow traders to speculate on stock market index movements, while commodity futures involve buying or selling predetermined quantities of commodities at future prices. Currency futures enable traders to buy or sell specific amounts of currencies at predetermined future prices.

　　OPTIONS:

　　The platform includes options contracts, such as call options that grant traders the right to buy specific assets at predetermined future prices and put options that give the right to sell specific assets at predetermined future prices.

Pros	Cons
Diverse range of investment options in bonds, shares, ETFs, CFDs, futures, and options	Limited information on trading volume and market depth
Access to global markets through various financial instruments	Potential complexity for inexperienced investors
Potential for portfolio diversification and risk management	Risk associated with speculative products

Account Types

　　Hello Bank offers various account types to cater to different banking needs. One such option is “Hello One,” which is a no-cost account designed for everyday banking without any income requirements or commitments. Additionally, there's “Hello Prime,” a global account available for €5 per month, with the first three months currently offered for free. These are some of the account types available at Hello Bank.

Pros	Cons
Offers a no-cost account option	Limited details on account features
Provides a global account option	Monthly fee for “Hello Prime” account
Initial three months of “Hello Prime” free	Limited information on other account types

Leverage

　　Hello Bank offers leverage on CFDs up to 1:30 for major currency pairs and 1:20 for other assets.

Spreads & Commissions

　　Hello Bank charges spreads on all trades, with a typical spread of 0.2-0.5 pips on major currency pairs. Commissions are also charged on all trades, with a typical commission of EUR 2.95 per trade for stocks and EUR 1.95 per trade for ETFs. Hello Bank does not charge any inactivity fees or overnight fees.

Minimum Deposit

　　Hello Bank has a minimum deposit requirement of €1,000 for its trading accounts. This applies to all account types, including Basic, Standard, and Premium.

Deposit & Withdrawal

　　Hello Bank offers free deposits and withdrawals via bank transfers in euros to/from the European Economic Area (EEA), Monaco, and San Marino. Withdrawals at ATMs in the EEA are also free.

Pros	Cons
Free deposits via bank transfers	Limited withdrawal information provided
Free withdrawals at EEA ATMs
Accessible in European Economic Area (EEA), Monaco, and San Marino

Trading Platforms

　　HELLO BANK provides a web-based trading platform, accessible through any web browser with an internet connection. This platform offers basic trading functionality.

　　Traders using HELLO BANK can also utilize a mobile trading app, enabling them to trade from their smartphones or tablets. This app allows for on-the-go trading.

　　For those seeking more advanced features and customization, HELLO BANK offers a desktop trading platform. This platform provides additional tools and options to cater to the needs of experienced traders.

Pros	Cons
Web-based platform accessible via browsers	Basic trading functionality
Mobile trading app for on-the-go trading	Limited advanced features
Desktop trading platform for experienced traders	No specific details on features provided

Customer Support

　　HELLO BANK offers customer support through various channels, including Facebook (https://www.facebook.com/hellobank.at/) and LinkedIn (https://www.linkedin.com/showcase/hello-bank-at/English). Additionally, customers can contact them by phone at +43 50 5022 222 or through email at info@hellobank.at.

Conclusion

　　In conclusion, HELLO BANK presents certain notable aspects in its service offerings. However, it is essential to consider potential drawbacks as well. The platform offers a range of market instruments, encompassing bonds, shares, ETFs, CFDs, futures, and options, providing diversification opportunities for traders. Additionally, it offers different account types to cater to various banking needs. On the downside, HELLO BANK lacks valid regulation, which may raise concerns regarding the safety and security of its services. Furthermore, while it offers a web-based and mobile trading platform, the platforms provide only basic trading functionality, and the absence of advanced features may limit the options for experienced traders. In terms of customer support, the platform offers various channels for communication, including social media, phone, and email. Ultimately, individuals considering HELLO BANK should carefully assess the pros and cons to make informed decisions about their financial activities.

FAQs

　　Q: Is HELLO BANK a legitimate financial institution？

　　A: HELLO BANK lacks valid regulation, indicating a potential risk associated with their services.

　　Q: What types of market instruments does HELLO BANK offer？

　　A: HELLO BANK offers various market instruments, including bonds, shares, ETFs, CFDs, futures, and options.

　　Q: What account types are available at HELLO BANK？

　　A: HELLO BANK offers different account types, including “Hello One” for everyday banking and “Hello Prime” for a global account.

　　Q: What leverage does HELLO BANK offer on CFDs？

　　A: HELLO BANK offers leverage up to 1:30 for major currency pairs and 1:20 for other assets on CFDs.

　　Q: What are the trading platforms available at HELLO BANK？

　　A: HELLO BANK provides a web-based trading platform, a mobile trading app, and a desktop trading platform for various levels of trading needs.

　　Q: How can I contact HELLO BANK's customer support？

　　A: You can contact HELLO BANK's customer support through Facebook, LinkedIn, phone, or email.