Brokers who end up on the blacklist are usually short-lived and volatile organizations, similar to Planet-Traders. Their life cycle is very short: opening a brokerage platform, attracting funds from deceived traders, and then closing. After some time, such brokers may start their activities again under a different name, contact information, and facade, trying to avoid the attention of law enforcement agencies.
Trading Conditions and Technical Specifications
Planet-Traders is an international forex broker from Vanuatu, operating based on a local license. However, it is worth noting that there is almost no full-fledged exchange activity in Oceania, and the number of registered firms there is small.
The broker offers trading with a wide range of currency pairs, CFD contracts on stocks, indices, and metals. Overall, Planet-Traders is a typical broker capable of functioning for a long time.
Features and Competitive Advantages of Planet-Traders, according to their promotional reviews:
- It is an ECN broker with an order execution system aimed at eliminating disruptions when opening and closing positions,
- A wide selection of trading instruments, including commodities,
- Round-the-clock technical support (unfortunately, not always available at the right moment),
- Islamic accounts without swaps in accordance with Sharia law,
- Personal traders,
- Protection against negative balance, designed to ensure constant account replenishment.
Trading Conditions at Planet-Traders:
- Narrow spreads from 0.5 points,
- Instant STP order execution, taking less than 0.1 milliseconds,
- Minimum deposit of one hundred US dollars, which is constantly recommended to be replenished,
- Maximum leverage of 1:1000.
It is worth noting that the high credit risk offered by Planet-Traders up to 1:1000 is very dangerous and may require deep analysis and verification before making transactions.
The company has developed its own trading software, which operates through an application or web interface. The broker’s clients receive liquidity from such well-known providers as J.P. Morgan, Nordea, Kas Bank, and others.
Contact Information
The only way to contact Planet-Traders is by email at [email protected]. There is also a feedback form on the website, but responses to it are not guaranteed.
The company’s official address is in Vanuatu, but contacting the company in this region remote from financial centers may be difficult due to the lack of clear exchange legislation.
Planet-Traders is absent from social networks and does not support a community. All communication is limited to personal interactions and attempts to persuade clients to invest without well-thought-out strategies.
About the Website
The Planet-Traders website is active and differs from most similar platforms. It provides information for initial familiarization with the topic of financial operations.
The site automatically redirects to the Russian version, indicating an orientation towards Russian-speaking clients. The site header contains the necessary information, but some sections, such as trader’s digest, could enrich the content.
The “trading” section provides information about trading that can easily be found on other resources. Registration on the site is done through an “online account” and “demo account.”
Clicking on any button brings up a registration form in English.
Planet-Traders conducts an active advertising campaign, offering clients unique investment opportunities. However, many later find difficulties withdrawing funds and the company’s reluctance to return invested amounts.
Conclusion
Planet-Traders is a typical representative of a black broker that aims to attract clients but then presents problems with withdrawing investments. The risk associated with investing through this platform is very high, and attempts to resolve conflicts do not always lead to a positive outcome for clients.
Before investing on the Planet-Traders platform, one should consider the high risk of investment loss and carefully plan their financial strategies.
Read also: Scam Broker with a Capital “S”: Review and Feedback on ProCapitalMarkets.
Planet-Traders is a black broker that has been known to engage in unethical practices and fraudulent activities, leading to significant capital losses for its clients. Many traders have reported losing large amounts of money due to misleading information, false promises, and manipulation of trades.
The company has been found to have a poor track record of customer service, with many clients struggling to get in touch with their brokers or receive timely responses to their inquiries. Additionally, Planet-Traders has been known to manipulate trading platforms and prices, making it nearly impossible for traders to make a profit.
Overall, Planet-Traders is not a reputable broker and should be avoided at all costs. Traders should exercise caution and do thorough research before investing with any brokerage firm to avoid falling victim to scams and financial losses.