Introduction to PTFX Review:
PTFX purportedly is a forex and CFD broker with a large number of tradable instruments which includes forex, indices, currency pairs, CFDs on metals, energy, commodities, etc. The company claims a lot of other things as well such as being the number one in the financial market and also claims to be regulated by almost all of the top tier regulators around the world. However, in the recent past, we have received a lot of complaints against PTFX and this made our research about the company. To our shock, PTFX posed a lot of red flags. Read about all the red flags in detail only in this PTFX review.
Is PTFX regulated by any regulator?
This is one of the fishiest aspects that we found on the website of PTFX. PTFX, on their website, claims that the company has partnered with another Indonesian-based company which is registered with the Commodity Futures Trading Regulatory or the (BAPPEBTI). As confusing as this sounds, our readers must know that this is all just an excuse for not having their own license. In order for a brokerage firm to be regulated, it needs to apply for a license with the regulators of its jurisdiction. PTFX has clearly not done any of that and thereby poses the major red flag here. One must never trade with a brokerage firm that does not have a license from any of the regulators.
What are the payment methods available with PTFX?
It is a common trait among scam brokers that they refrain from making crucial information accessible to their customers. Although PTFX boasts about being the best in the market, nowhere on their website have, they mentioned the payment methods accepted. Hiding this information from the public makes it clear that PTFX is here with the intention of tricking the customers into investing with a brokerage firm that claims to be legitimate. This poses yet another red flag against PTFX in this Ptfxcapital.com review.
What is the minimum deposit demanded by PTFX?
Minimum deposits, like the name suggests, are supposed to be asked in a minimum quantity with the purpose of security. All of the legitimate brokerage firms ask for minimum deposits below $10. However, that is not the case with scam brokers. These unregulated brokerage firms ask for huge amounts as much as $500 as their intention is to steal as much money as possible from the customers. In our case, PTFX demands a minimum deposit of $1000. This is a very huge number and is suspicious as well. The huge minimum deposit poses yet another red flag against PTFX in this review.
Conclusion: Is PTFX a scam or legit?
To sum up, all that has been said above, we can say that PTFX is a potential scam. We warn you from trading or investing with this unregulated broker as it may lead to you getting scammed. If you have already been scammed by PTFX or any other broker, file a complaint with us by filling the form on top of this page and we will help you out!
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