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PGMarkets Review – is it scam or safe?

PGMarkets Review  – is pgmarkets.com scam or good forex broker?

RATING: 2 / 1 REVIEWS ForexBrokerz PGMarkets
PGMarkets is an offshore broker. Your money is not safe.

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 Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Starter   0.01 lot 1:200 1.9 pips
Standard   0.01 lot 1:200 1.4 pips
Premium   0.01 lot 1:200 0.5 pip

PGMarkets has three types of live trading accounts, plus a money management account, a tailor-made account and a free demo account for testing purposes.

 

The broker offers trading in forex, CFDs on equities and ETFs, indices, futures and in binary options.

 

 

The Company. Security of Funds

 

Company Country Regulation
Pegasus Markets Limited  New Zealand  No

 

PGMarkets is owned by the New Zealand company Pegasus Markets Limited, which claims to be authorized and registered by the Financial Service Providers authority from NZ. Our check in the New Zealand Financial Services Provider register shows that Pegasus Markets Limited has been deregistered back in August 2015. This undisputed fact surely raises some questions about the integrity of the company.

 

The company says it is a member of the Financial Services Complaints Limited dispute resolution scheme and does not accept clients from New Zealand and the USA.

 

We generally advise our readers to deal with regulated brokers only, preferably either by UK's FCA or the Australian Securities and Investment Commission (ASIC) – two watchdogs known for providing robust oversight.

 

 

Trading platform

 

PGMarkets is rather generous when it comes to trading platforms. It offers two: the eternally popular MetaTrader 4 (MT4) and the proprietary trading platform of the European forex broker XTB – xStation – which it makes available to other brokers through a white label partnership.

 

The xStation platform has been voted “Best Trading Platform 2016” by Online Personal Wealth Awards and offers fast execution, very fast execution speeds, technical analysis and charting tools, social trading and a host of other options.

 

MT4 is available only in its desktop version, while xStation is available for web and as an application for mobile devices.

 

 

Methods of payment

 

PGMarkets accepts payments through bank transfers and credit and debit cards and the electronic wallets Neteller and Skrill.

 

 

Conclusion

 

First and foremost, PGMarkets is not regulated, despite its claims. The fact that it provides false information about this on its website raises some questions and one should proceed with caution. Besides, its trading conditions are not something exceptional, to be worth taking the risk of dealing with an unregulated broker.

 

Pros Cons
MT4&xStation Unregulated
  Incomplete information

 

Latest news about PGMarkets
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Traders` reviews for PGMarkets

Spread

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Slippage

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Requotes

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Price feed

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Cons

 

 

Platform

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Cons

 

 

Deposit/Withdraw

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Cons

 

 

Customer service

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Summary

Pros

Cons

 

 

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