Company Profile
Company Profile
Review summary
Note: Local Bank's official website: https://www.local-bank.com/ is currently inaccessible normally.
Local Bank Information
Local Bank is a bank company registered in the United States. The broker's official website has been closed, so traders cannot obtain more security information.
Is Local Bank Legit?
 | Australia Securities &Investment Commission(ASIC) |
| Current Status | Revoked |
| Regulated by | Australia |
| License Type | Appointed Representative(AR) |
| License No. | 001286004 |
| Licensed Institution | LOCAL FINANCIAL PTY LTD |
Local Bank is authorized and regulated by the Australia Securities &Investment Commission(ASIC), current status is Revoked, which will increase trading non-compliance and reduce traders investment security. Caution is advised when dealing with the bank.
Downsides of Local Bank
- Unavailable Website
Local Bank's official website is currently inaccessible, raising concerns about its reliability and accessibility.
- Lack of Transparency
Since Local Bank does not explain more transaction information, especially regarding fees and services, this will bring huge risks and reduce transaction security.
- Regulatory Concerns
The ASIC regulates Local Bank. However, the Revoked status is less safe than a regulated one.
- Withdrawal Difficulty
According to a report on WikiFX, a user encountered significant difficulties with fund withdrawals. The issue remained unresolved despite the request being pending for a long time.
Negative Local Bank Reviews on WikiFX
On WikiFX, “Exposure” is posted as a word of mouth received from users.
Traders must review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.
As of now, there was only one piece of Local Bank exposure in total.
Exposure. Account canceled without reason
| Classification | Account canceled without reason |
| Date | 2021-07-30 |
| Post Country | Hong Kong, China |
You may visit: https://www.wikifx.com/en/comments/detail/202107303982455828.html.
Conclusion
Local Bank Since the official website cannot be opened, traders cannot get more information about security services. In addition, the Revoked status indicates that this brokers trading risks are high. Traders can learn more about other brokers through WikiFX. Information improves transaction security.
