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.
WOORI BANK Pros & Cons
WOORI BANK was incorporated in April 1999 following the merger of the Commercial Bank of Korea and Hanil Bank. Now it is a part of Woori Financial Group and is among the top 10 world’s major banks and top 5 commercial banks of South Korea with the highest revenue performance. WOORI BANK focuses on investing in various funds, buying/selling foreign currencies, capital management, insurance, and real estate. The company provides its services to residents of Korea and other countries through its representative network in Asia, Europe, Africa, and both Americas. In South Korea, WOORI BANK is supervised by the FSC (Financial Services Commission) and the FSS (Financial Supervisory Service).
TU Expert Verdict
WOORI BANK carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
Top-5 Brokers Traders Prefer
WOORI BANK User Reviews
-
5-star
0%
-
4-star
20%
-
3-star
20%
-
2-star
20%
-
1-star
40%
-
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 criteria7 /10The trading and non-trading commissions of WOORI BANK have been analyzed and rated as having Medium fees, with a fees score of 7/10. 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 deposit fee
- No withdrawal fee
- Inactivity fee applies
-
Is WOORI 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 criteria1.5 /10WOORI BANK has a safety score of 1.5/10, which corresponds to a Low 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.
- Flexible trading conditions with high leverage and less bureaucracy
- Not tier-1 regulated
- Not regulated
- No negative balance protection
- Track record of less than 8 years
-
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.0 /10WOORI BANK offers the following account options: 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.
- Tight spread ECN account
- Standard account with balanced trading conditions
- Low minimum deposit
- No VIP account option
- Micro lots are not available
-
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 methodology4 /10WOORI BANK received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
-
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 criteria5.5 /10WOORI BANK offers a limited selection of trading assets compared to the market average. The platform supports 0 assets in total, including 50 Forex pairs.
-
Trading Account Opening
We successfully registered an account with WOORI BANK in 10 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at WOORI BANK is KRW100.Score:We evaluated Trading Account Opening at WOORI 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.10 /10This is one of the most accessible and hassle-free onboarding procedures on the market.
-
Customer Support
Score:We evaluated Customer Support at WOORI 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 criteria6.6 /10
Best WOORI BANK Alternatives
FAQs
Is WOORI BANK a regulated forex broker and how safe is it?
WOORI BANK is described as not regulated and does not hold Tier-1 regulation, and it has a safety score of 1.5/10, which corresponds to a low security level in this review. The broker does not offer negative balance protection and has a track record of less than 8 years, which may increase risks compared with more established, regulated firms.
What types of trading accounts does WOORI BANK offer?
WOORI BANK provides Standard and ECN/Raw spread accounts, with a low minimum deposit and a Standard account described as having balanced trading conditions. However, it does not offer Cent, Micro, Demo, Swap Free, VIP, or managed accounts, which may limit options for some traders.
What do user reviews and feedback say about WOORI BANK?
WOORI BANK has a user satisfaction score of 4.4/10 based on 5 reviews, with 40% of ratings at 1 star and no 5-star ratings, indicating that overall reviews are mostly negative. According to user reviews, 20% of ratings are 4-star, 20% are 3-star, and 20% are 2-star, suggesting a mix of experiences but a generally unfavorable impression.
What markets and tradable assets are available with WOORI BANK?
WOORI BANK offers a limited selection of trading assets, including 50 currency pairs, stocks, and stock indices, while commodity futures, crypto, and options are not available. The broker also provides bonds, ETFs, and copy trading as investment options, but the total number of supported assets beyond these categories is not clearly specified in the section.
How do clients describe WOORI BANK’s customer support in their feedback?
Customer support at WOORI BANK is available and described as providing basic functionality, with response times characterized as moderate during testing. The quality and speed of service may vary depending on the complexity of the request, and the section does not specify particular support channels or hours of operation.
Articles that may help you
-
#For Beginners
WOORI BANK Available Countries – Full List (2026)
June 2026 Andrey Mastykin -
#For Beginners
WOORI BANK Withdrawal Fees, Time & Payment Methods (2026)
June 2026 Andrey Mastykin -
#For Beginners
The 1% Daily Profit Myth In Forex
June 2026 Rinat Gismatullin -
#For Beginners
Can Forex Trading Make You Rich?
June 2026 Rinat Gismatullin -
#For Beginners
Best Zero Spread Forex Brokers
June 2026 Aleksandra Chaikina -
#For Beginners
Best Unregulated Forex Brokers
June 2026 Maxim Nechiporenko -
#For Beginners
Best Forex Position Size Calculators Review
June 2026 Vuk Martin -
#For Beginners
Forex Gump Review - Pros and Cons
June 2026 Parshwa Turakhiya -
#For Beginners
InstaForex MT4 Review - How to Download and Set Up?
June 2026 Dwight Cass
