Been Scammed By This Broker? We Can Help!
Making money from the forex markets usually involves the use of reputable online brokers. There are several online brokers with different services for traders. Some of these brokers are known for their impressive reputation, while others provide questionable services.
It’s difficult to know the best online broker to choose for forex, especially when you’re trying to be on the safest side. This PBN Capital review will show you how well you can trust the broker for trading.
PBN Capital is an unregulated offshore forex broker owned by Capital Tech Limited. The company claims to be located at Ajeltake Road, Ajeltake Island, Majuro Republic, Marshall Islands. This company offers several account types, including the rare Islamic Account on the MetaTrader 4 platform. The broker provides over forty currency pairs, which includes both minor and exotics.
PBN Capital offers varieties of CFDs on indices, spot metals, and agricultural and energy commodities. Crypto coins like Bitcoin, Classic, IOTA, Litecoin, NEO, Monero, Ripple, Zcash, Bitcoin Cash, Dash, EOS, and Ethereum are available on the site as well. PBN Capital appears to have several offers for traders. However, they remain a highly questionable site for trading.
The owners of PBN Capital are operated by Pbox LTD, which is located in Bulgaria. The deposit and withdrawal process in PBN Capital could appear impressive. However, it’s not advisable to put one’s money into any of them. The site provides methods like BankWire, Visa, MasterCard, and some eWallets like Boutique, OKPay, EcorePay, and QIWI Wallet.
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The legitimacy of PBN Capital is one to truly question. The first and most significant turn off of the site is its regulation state. Don’t be deceived by false reviews trying to cajole you into creating an account. Any broker that is not regulated or licensed shouldn’t be trusted for trading. Besides, the broker ensures that the trading conditions are not stated on their site.
Every iota of PBN Capital screams untransparent and unprofessional. This broker should be avoided because they claim to have a registration number, which is completely false. PBN Capital runs a demo account, which they try enticing traders to use. The demo accounts usually appear suitable for users. However, unknown to new traders, they are completely rigged. PBN Capital has a demo account with over 90% successful trade claims.
The major problem with a fake demo account is that users want to create a real account when they observe that they are earning from the demo. A real account on PBN Capital is not profitable in any way. Besides, traders lose lots of money in the process of placing buy and sell orders with the site.
PBN Capital provides withdrawal and deposit options. However, that is not a good reason to create an account with this website. Withdrawals from PBN Capital seems tricky as the company claims that withdrawals take within five to eight days. Unfortunately, the broker has a problem with allowing withdrawal transactions on the website.
It’s no news that funds are not safe with an offshore and unauthorized broker. These sites don’t follow the primary rules. Most reputable platforms allow traders to know their depository bank. However, PBN Capital doesn’t disclose that information. It also appears that this broker doesn’t segregate accounts, which can be dangerous for the company and traders. In other words, they pool funds into one account.
Traders can notice several warning signs from other expert traders and regulatory bodies. One of the recent problems with the broker is their blacklisting by the financial regulator in Italy, called the Commissione Nazionale per le Societa e la Borsa (CONSOB). A red flag from CONSOB gives enough reasons for brokers to think twice making deposits on this platform.
Both the company that owns PBN Capital (Marshall Islands) and those who operate it (Pbox Ltd) were blacklisted by CONSOB. This indicates a serious problem in both ownership and operation of the site. The authenticity of PBN Capital should be greatly questioned for these reasons.
The trading bonus rules for the site is alarming. Traders that accept trading bonuses must meet a certain minimum trade amount, before making a withdrawal. The unacceptable fact about PBN Capital is that the least amount that is required is very high and most times, unattainable. For instance, traders who get 400 USD bonus will need to trade 100 lots or 10,000,000 USB within two months. For both a new and professional trader, those requirements are high.
Most scam brokers have similar faults, which makes them easy to spot. Different signs will make it easy for you to spot them. With research, you may observe that they are unregulated or they have issues with other traders in the industry.
If you haven’t done much research, you may notice the following when observing a scam trader:
It’s difficult to overlook forex scams, especially as a new trader. Most people have their hopes high on making a good level of profit, especially when they do things appropriately. Loss of funds in some cases doesn’t come from a bad buy or sell order, it’s due to the use of a dangerous and unregulated broker. Fortunately, Trader Defence Advisory provides a team of legal professionals willing to assist brokers that have lost funds through the problem.
Trader Defence Advisory has marked this broker as a very dangerous scam. PBN Capital makes certain claims about the services rendered. Most of the acclaimed services always result in an ultimate scam, making it a bad choice for traders looking for trustworthy brokers. All the significant categories used by Trader Defence Advisory sets PBN Capital at a low score, which makes it a fraudulent platform. This site is 100% a scam.