FNG Exclusive… FNG has learned that Ukrainian banking outfit Bank SICH has launched a separate Retail FX and CFDs broker brand, called PowerBank Trade.

PowerBank Trade will be aimed at Ukrainian retail clients, and is licensed by the National Bank of Ukraine. PowerBank Trade, operated at url powerbank.trade, is the first regulated banking forex platform in Ukraine.

The firm’s trading platform is based off of Dukascopy’s JTrade proprietary platform, and will offer clients trading in a wide variety of leveraged Forex and CFD products on an iOS/Android app, webtrader and a downloadable trader. In a white label agreement Dukascopy is providing the trading platform, liquidity, and support to Bank SICH.

Bank SICH is a universal Ukrainian bank, founded in 2011. The bank’s shareholders are Ukrainian entrepreneurs Oleg Balanda (55.6%), Valery Razdorozhny (31%), Andrei Melnik (9.6%) and Oleg Gubanov. Bank SICH has branches in almost all regions of Ukraine, with the company’s head office located in the capital city of Kyiv and regional directorates in Lviv, Dnipro, Kharkiv, Odesa, Poltava, Vinnytsia, and Cherkasy. The bank’s main activities are servicing medium-sized corporate and small business clients, operating its branch network serving both corporate and retail clients, and operating payment terminals throughout the country.