PSB-Forex: traders’ reviews in expert review
Expert review of PSB-Forex: traders’ opinions
PSB-Forex offers its clients a wide range of services: trading on the foreign exchange market, education, and working with cryptocurrencies. Guarantees of transaction security and broker reliability are backed by licenses from state regulators and positive reviews. We will conduct a detailed analysis of how much this intermediary can be trusted and what experts say about it.
Main information about PSB-Forex
In the “About Us” section, a detailed history of the company is presented, claiming that it started its activities in 2006. PSB PTY LTD was registered in Australia and then, according to data from 2016, merged with a subsidiary of Promsvyazbank. Although the facts about the registration of PSB PTY LTD and the license for PSB-Forex are true, these organizations never had direct interaction.
All the information on the website is unreliable, the legend does not even withstand minimal verification. The organizers of PSB-Forex use other people’s names, ignoring the fact that the real PSB-Forex was closed over a year ago. Promsvyazbank decided to liquidate in 2020, warning clients about the closure of accounts. Currently, the organization is recognized as inactive.
It is important to note that the official website was psbforex.ru, while trade.psbforex.broker is a typical fake from scammers. The domain was registered by anonymous individuals, and the hosting is located in Kiev. The registration date is February 6 of the current year.
Regulators’ attention to PSB-Forex
Fraudulent actions by PSB-Forex have been observed for a long time, the first reviews from deceived traders appeared immediately after the closure of the real PSB-Forex. However, only since December 1, 2021, the regulator included PSB-Forex in the blacklist, and Roskomnadzor began the process of blocking the website. Since then, scammers have changed numerous domains and apparently have no intention of stopping.
Unfortunately, it is not possible to guarantee the prevention of new fake resources. Therefore, we recommend not blindly trusting promises and reviews, but always checking the information on the official website of the Central Bank of Russia.
Review of trading offers by PSB-Forex
Customers are offered four types of accounts. For learning, the “Test” account with an initial payment of $150 is suitable. Experienced traders have access to the “Minimal,” “Standard,” and “Progressive” accounts with deposits of $1500, $5000, and $25,000, respectively. Among the available assets for trading, you can choose:
- currency pairs,
- CFDs,
- commodities and raw materials,
- shares of various companies,
- cryptocurrencies.
Information about the trading platform is available only to registered users. To register, you need to provide a phone number and email address, and in the future, you will need to provide scans of identity documents and banking details.
Real traders’ reviews
In addition to using someone else’s brand, scammers also actively buy positive reviews. Under most articles or reviews, you can find enthusiastic comments claiming huge financial success.
There are fewer real reviews, as not every trader wants to spend time writing them. However, they are more objective, and it is worth studying other people’s mistakes to avoid repeating them.
How do scammers from PSB-Forex operate?
Scammers not only acquire fake reviews but also advertise on specialized forums and social networks. Most potential clients are attracted by these methods and leave their contact details for consultation. Then a financial analyst from PSB-Forex contacts the client and convincingly talks about the advantages of cooperation with the company. Special attention is paid to the presence of a license, guarantees from a major bank, and free support from experienced specialists.
It is difficult to believe promises, especially considering the plethora of positive reviews on the Internet. The client registers, opens an account, and transfers the required amount, which often exceeds the minimum deposit. Initially, the account may show growth, but then the personal manager suggests insuring the deposit to avoid losses. They may then demand switching to a new account, again replenishing the account. The ultimate goal will be to activate a wallet for withdrawing funds, claiming that without it, the process will take a long time. Unfortunately, by the time the client realizes the deception, the money may already have been transferred to offshore accounts, and attempts to recover them may prove futile.
Final assessment of PSB-Forex
The company is not a licensed broker or a subsidiary of Promsvyazbank. This is a scam project, a mirror of the blocked psbforex.org. The Central Bank has already included several similar resources in the blacklist, but scammers continue to create new ones. Do not trust the promises of scammers; PSB-Forex is a fraudulent scheme where you will be deceived for money.
I had a highly disappointing experience with PSB-Forex, completely contrary to the positive traders’ reviews I got swept by. Trading platforms were riddled with frequent glitches, leading to substantial financial losses. The customer service seemed indifferent and unresponsive to several of my complaints. I often encountered significant discrepancies in rates and price data. To top it all off, the withdrawal process was downright tedious and time-consuming with several unnecessary delays. Trading with PSB-Forex has been nothing short of a nightmare and I can’t recommend it to anyone.