Scam Broker Website – http://ptfxcapital.com/index.html
With the major scams taking place in the forex industry, it is very important for the investors (new or experienced) to choose the right broker, that does not only ensures the safety of the funds but also guides you in increasing your wealth and earning higher returns. A number of forex firms are operating in the market with the objective of serving you with higher yields and thus it is difficult to identify the fraud brokers. It is always advisable for the investors to do proper research before moving forward with any kind of investment and investment firm. One of the ways to prevent yourself from getting scammed is to read the broker reviews, which not only gives you clear information regarding the working of the firm but also helps you in choosing your perfect broker.
Many people fall victim to these scam brokers and lose all their money without even realizing the threat coming to them. One such scam broker is PTFX that has earned several negative reviews and complaints by the investors. Read the PTFX review to know about the PTFX scam in detail.
PTFX Review –
PTFX Broker is said to be based in Indonesia, offering Forex and CFD services. It offers a number of other services too including currency pairs, CFDs on spot metals, indices, and energy commodities. However, the regulatory status of the PTFX broker is not confirmed and it is not currently subject to any active regulation. Proper regulation is the most important factor that ensures the protection of your funds. Hence, the shady regulatory status of the broker is a major red flag that should be considered while investing with them.
Trading Platform –
The trading platform offered by the broker is MT4, which is the leading and most popular among the new and experienced traders. Because of its ease to use and effective trading, it is one of the most widely used trading platforms.
Deposit and Withdrawal –
There is no information regarding the payment methods accepted by the PTFX broker. It makes the investors doubt the broker on the terms of the deposit and withdrawal process. Most of the genuine brokers allow their customers with transaction facilities of credit or debit cards, like VISA and MasterCard, etc.
Accounts and Leverages –
PTFX offers only a single standard account with a minimum deposit of $1000, which obviously is much higher than the minimum amount offered by other brokers operating in the market. The maximum leverage offered by the PTFX broker is 1:200.
The PTFX broker has gained several negative reviews on a number of online platforms. Resulting in the investors doubting the credibility of the broker. Several complaints have been registered against the PTFX scam. Some of the researchers have also stated that PTFX is an illegal trader, who has received hundreds of complaints within 3 months.
Is PTFX scam or Legit Broker?
By taking into consideration, all the points mentioned above, it can be concluded that PTFX is a scam broker and investors should avoid investing their funds with them. The investors are advised to invest their hard money with the brokers who are operating in a legal manner and are regulated by legal authorities such as Financial Conduct Authority, CySEC, Australian Securities and Investments Commission, etc.
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