Introduction to PetronPay Review:
With the increasing demand for trading and brokerage firms in the world, the increase in scam brokers and cybercriminals have witnessed a surge. With a variety of new tricks, these scam brokers camouflage themselves among the regulated brokerage firms and lure in innocent and unsuspecting customers only to extort huge amounts of money from them.
PetronPay, like every brokerage firm, advertises itself as the leading firm in the market with the main investment in oil. You will be surprised to know that the company offers no other tradable asset or valuable to invest in except this.
Debunking the claims:
In this section of the review, we specifically address the various red flags hoisted by FXT Brokers. We will also be providing explanations as to why you should not be trading with FXT Brokers. Read on to know more.
What do they offer?
PetronPay offers different packages at different prices. They claim to invest in oil and also assure high returns to their customers. The only drawback in purchasing these so-called oil investment packages is that the customer has to pay using bitcoins only. This is a major red flag as bitcoins cannot be traced and that is their objective while setting these restrictions. Readers must note that when brokerage firms ask for bitcoins and other cryptocurrencies, there is a high chance of the company being a fraud.
Address and Regulation:
On their website, the company claims to be based in Switzerland. However, upon a little investigation, we found out that such a company does not exist in the address listed. From this, it is clear that PetronPay is lying about their address and has something to hide. Upon further investigation, we also found out that PetronPay is UNREGULATED. This poses two red flags against PetronPay in this PetronPayreview.
According to their website, PetronPay is founded by John Grant who is their current CEO. However, this is where the problem starts. When we searched for the CEO of such a “major” company on the internet, we were not able to find anything. It is almost as if such a person does not even exist. The only photo that we saw was on his Instagram page, the link to which is provided on PetronPay’s website. This poses yet another red flag against the company in this PetronPay review.
PetronPay is proudly showing off an edition of Fortune with their alleged CEO’s photo in the front of the magazine. As predicted, this too was fake and photoshopped.
To sum up, all that has been stated above, we leave the decision to decide whether PetronPay is a scam or not upon you. If you have been trading with PetronPay or are thinking about opening an account with PetronPay, we warn you to stay away from the company as PetronPay is a potential scam. If you have been scammed by PetronPay or any other scammer, file a complaint with us. We will look into the matter at the earliest and get back to you with the best possible solutions.
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