Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Self Bank Pros & Cons
- Optimal trading conditions for traders who invest in the stock market.
- Tight market spreads for Forex trading accounts.
- The minimum deposit to enter the exchange starts at $0.
- MetaTrader 4 and MetaTrader 5 are not on the list of available platforms.
- The maximum leverage does not exceed 1:50.
- There are no options for generating passive income.
- Trading bonuses are absent.
- The broker has only one Spanish version of the site.
Singular Bank, S.A. (formerly Self Trade Bank, S.A.) (Spain), hereafter referred to as “Self Bank, is a subsidiary of the Warburg Pincus, LLC investment holding and a lending institution that is regulated by the Central Bank of Spain. It has been providing a wide range of banking and financial services to clients of the European Union for almost 20 years. Self Bank provides banking services and offers financial planning, savings accounts, credit and debit cards, deposits, investment funds, pension plans, indices, payroll accounts and allows traders to invest in currencies, CFDs on stocks, indices, commodities, and ETFs. According to Rankia, a leading financial portal, Self Bank was ranked as the best multi-product broker in 2019.
TU Expert Verdict
Self Bank demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
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Self Bank User Reviews
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5-star
0%
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4-star
17%
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3-star
64%
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2-star
14%
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1-star
6%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria8 /10The trading and non-trading commissions of Self Bank have been analyzed and rated as having Low fees, with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Self Bank with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Self Bank’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Self Bank Standard spreads Self Bank OANDA FOREX.com EUR/USD min, pips 0.2 0.1 0.7 EUR/USD max, pips 0.6 0.5 1.2 GPB/USD min, pips 0.4 0.1 0.9 GPB/USD max, pips 0.7 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
Self Bank RAW/ECN spreads Self Bank OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 3.5 3.5 5 EUR/USD avg spread 0.1 0.15 0.2 GBP/USD avg spread 0.1 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Self Bank. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Self Bank Non-Trading Fees Self Bank OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is Self Bank Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria9 /10Self Bank has a safety score of 9/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Track record over 31 years
- No negative balance protection
Self Bank Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level Abbreviation Banco de España Full Name Banco de España Country of regulation Spain Investor Protection Fund Banking deposits up to €100,000, Investor protection up to €20,000 Regulation Level Tier-1 Self Bank Security Factors Foundation date 1995 Negative balance protection NoVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.4.1 /10Self Bank offers the following account options: Demo, Standard, ECN/Raw spread.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Demo account
- Low minimum deposit
- Tight spread ECN account
- No VIP account option
- No Swap Free account
Self Bank account types vs top competitors Self Bank Plus500 OANDA Standard YesYesYesECN/Raw spread YesNoYesDemo YesYesYesCent NoNoNoMicro NoNoYesSwap Free NoNoYesVIP NoNoNoManaged NoNoNoSelf Bank accounts trading conditions
Self Bank is a digital bank that offers a wide range of accounts for private and corporate clients. The broker provides only one type of account for trading currency pairs and CFDs.
Account types:
Account Type Description CFD and Currency Account CFD and Currency Account are standard accounts with up to 1:50 leverage. The spread for the EUR/USD pair starts from 0.0002 pips, but the minimum commission is 10 US dollars. There are no requirements for the amount of the minimum deposit. A demo account is available with a validity period of up to 20 days. The Self Bank broker aims to cooperate with European traders who prefer to invest in the stock market.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology5 /10Self Bank received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
Self Bank provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- No withdrawal fee
- No deposit fee
- Minimum deposit below industry average
- Bank card deposits and withdrawals
- Limited deposit and withdrawal flexibility, leading to higher costs
- BTC not available as a base account currency
- Wise not supported
What are Self Bank deposit and withdrawal options?
Self Bank provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire.
Self Bank Deposit and Withdrawal Methods vs Competitors Self Bank Plus500 OANDA Bank Wire YesYesYesBank card YesYesYesPayPal NoYesYesWise NoNoNoBTC NoNoYesWhat are Self Bank base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. Self Bank supports the following base account currencies: USD, EUR.
What are Self Bank's minimum deposit and withdrawal amounts?
The minimum deposit on Self Bank is $10, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Self Bank’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria8.8 /10Self Bank offers a wider selection of trading assets than the market average, with over 14000 tradable assets available, including 165 currency pairs.
- 165 supported currency pairs
- ETFs investing
- 14000 assets for trading
- Copy trading not available
- Futures not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by Self Bank with its competitors, making it easier for you to find the perfect fit.
Self Bank Plus500 OANDA Currency pairs 165 60 68 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 14000 2800 129 Stocks YesYesYesCommodity futures YesYesYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesYesStock indices YesYesYesOptions NoYesNoInvestment options
We also explored the trading assets and products Self Bank offers for beginner traders and investors who prefer not to engage in active trading.
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Trading Account Opening
Score:We evaluated Trading Account Opening at Self Bank by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.8 /10We successfully registered an account with Self Bank in 30 minutes. The KYC verification was completed within 3 business days. The minimum deposit amount at Self Bank is $10. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Low minimum deposit requirement
- Account approval may require extra time depending on the documentation.
- Registration process may take longer than expected
Self Bank account opening Self Bank Plus500 OANDA Online Registration YesYesYesMinimum deposit $10 $100 $0 Mandatory KYC YesYesYesRegistration time (min) 30 10 KYC time (days) 3 3 3 Is Self Bank available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
You need to open a trading account to start making money with Self Bank. To do this, you need to visit the official website of the company and follow these steps:
Click “Become a client” and choose the appropriate type of account from the line offered by the company.
The account “Cuenta de CFDs y Divisas” (“CFD and foreign exchange account”) is intended for trading currency pairs and CFDs.
Choose to open a digital or regular account. If the digital method (Self Now) is selected, you must enter personal data, confirm your identity using digital video identification and receive an electronic key to enter your personal account. After entering personal data, the customer receives by email all product information and a temporary security password when opening an account without Self Now. Further, you need to send identity documents via email.
The following tabs are available in the Self Bank personal account:
- “Personal account” – your personal account is for performing financial transactions and generating trading reports.
- The “Trade” tab takes you to the web terminal and so you can start trading.
There are also many other useful functions and features, such as:
- the “Research” section contains an economic calendar and the latest news from the financial markets.
- Real-time currency quotes.
- Active operations log with information on all actions in the trading terminal.
- A window for communication with specialists using online chat.
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Customer Support
Score:We evaluated Customer Support at Self Bank by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria4.5 /10The broker’s customer support shows noticeable weaknesses in responsiveness or communication quality. Delays in replies are common, and resolution may require repeated contact.
In TU testing, response speed was below expectations, and assistance was limited in depth. Traders who rely heavily on support may experience inconvenience.
InformationThe broker's support service answers customer questions from 8:00 to 22:00 hours from Monday through Friday local time.
- Not only clients but also traders without registration can contact Self Bank representatives by phone and email
- Not available on weekends
- Only the company's clients can get advice in the online chat
- Support is provided in Spanish only
There are several ways to contact support:
- by phone numbers indicated on the website;
- by fax;
- by email;
- by using the feedback form;
- via online chat on the website (registered customers only).
Support is available from the broker's website and your personal account.
Contacts Foundation date 1995 Registration address Singular Bank, S.A.U. (Self Trade Bank S.A.U.) Calle de Goya, 11.28001 Madrid Official site selfbank.es
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FAQs
How safe is trading with Self Bank in terms of regulation and investor protection?
Self Bank has a safety score of 9/10 and is regulated by the Banco de España in Spain, which is classified as Tier-1 regulation in this review. Client protection includes banking deposit coverage up to €100,000 and investor protection up to €20,000, but the broker does not provide negative balance protection, meaning account balances can potentially fall below zero.
What commissions and fees structure does Self Bank use for forex trading?
According to this section, Self Bank is assessed as having low overall fees, with a fees score of 8/10, and offers tight spreads on major pairs such as EUR/USD (approximately 0.2–0.6 pips on Standard accounts) and GBP/USD (about 0.4–0.7 pips on Standard accounts). On RAW/ECN accounts, average spreads are around 0.1 pips for both EUR/USD and GBP/USD with a commission of $3.5 per lot, and there are no deposit, withdrawal, or inactivity fees listed.
What do Self Bank user reviews and feedback indicate about client satisfaction?
Self Bank has a user satisfaction score of 5.8/10 based on 36 reviews, with most ratings clustered around 3 stars (64%) and relatively few 5-star ratings (0%). According to user reviews, this distribution suggests a mixed overall experience, with some clients more satisfied than others.
What markets and tradable assets are available at Self Bank?
Self Bank offers over 14,000 tradable assets, including 165 currency pairs, stocks, commodity futures, crypto, and stock indices, but does not provide options trading. For investment-style products, the broker supports bonds and ETFs, while services such as copy trading, PAMM investing, and managed accounts are not available.
What do reviews and feedback say about opening a trading account with Self Bank?
The review notes that Self Bank’s account opening is fully online, with a minimum deposit of $10, a typical registration time of about 30 minutes, and KYC verification usually completed within 3 business days. Based on available user reviews, the process is described as accessible but may take longer than expected in some cases, especially if additional documentation is required.
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