Why PexPayFinance is not the best choice for your investments
PexPayFinance presents itself as a reliable intermediary, offering clients safe and convenient access to financial markets. The company has a long history – over 15 years of experience, impressive statistics, and many positive reviews. However, it is worth noting that positive comments can only be found on their website, while reviews on independent platforms carry a negative tone. Let’s examine the true reputation of this broker.
Interesting Facts about PexPayFinance
Despite the company’s claims of a 15-year track record and 85,000 satisfied clients, the first reviews of PexPayFinance on independent platforms only appeared in recent months. It turned out that the broker’s website was actually launched only in September of this year, as verified through the whois service. This means that the company lied about its long track record and successes.
According to real customers’ opinions, the platform’s real problem is the lack of responsive customer support. Not only are the company’s employees extremely careless in communication, but the phone and email contacts provided are incorrect.
Legal Nuances
The company does not provide scans of legal documents confirming its legitimate presence in the financial markets. If PexPayFinance had offices in the USA or the Seychelles, they would be required to obtain approval from local regulators. But the people from this company didn’t even think about it. Neither the American SEC nor the regulator of the Seychelles recognizes this broker.
Furthermore, it seems that these scammers simply copied documents from other fraudsters, not even bothering to change the details. For example, their User Agreement mentions Singapore jurisdiction, although the local regulator is unaware of the existence of PexPayFinance.
Trading Conditions
When attracting newcomers, the broker promises broad opportunities, including trading programs, risk management, and high-yield strategies. Among the offered instruments are currency pairs, commodities, indices, stocks, cryptocurrencies, and ETFs.
Several tariffs are available to clients:
- Starter Plan – from $5,000,
- Premium Plan – from $25,000,
- Business Plan – from $50,000.
Various bonuses, education, low spreads, professional support, and no restrictions on strategies are also promised. However, many users complain that withdrawing funds from the platform is difficult, and the broker finds reasons to refuse profit payouts.
Reviews and Dissatisfactions
On the website, PexPayFinance advertisers pay a lot of attention to reviews about the company, but unfortunately, it is not advisable to trust these outright fake comments. In reality, there is no way to leave a real review on the company’s site. Furthermore, on independent review platforms, there is a lot of negativity and warnings that dealing with PexPayFinance should be approached with caution.
Action Algorithm
PexPayFinance tries to lure newcomers and offers them to follow trading recommendations from a manager. However, it is not wise to be naive and trust these promises, as the broker’s real goal is to profit from your funds without any guarantees. If you encounter problems trying to reclaim your funds, the only hope lies in the chargeback procedure, but this can be a lengthy and not always successful process.
Conclusion
Do not risk working with PexPayFinance. This broker is unlicensed and does not guarantee the safety of your investments. It is better to consider other, more reliable alternatives for trading and investing.
