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FXPearl Review - Is it scam or safe?

FXPearl Review - is fxpearl.com scam or safe?

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

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Trading Accounts & Conditions

 

Account type  Minimum deposit  Minimum trade size Maximum leverage Average Spreads (& Commission)
ECN $200 0.01 1:500 0.2 pips on EUR/USD + $4 /lot

 

Pearl Capital Markets (PCML or FXPearl) offers its clients a single account type that offers STP/ECN environment, tight variable spreads, and leverage up to 1:500 on both MetaTrader 4 and MetaTrader 5. Micro tradeable lots are offered to those traders unwilling to put much at stake.

 

Actually, the offerings of FXPearl seem attractive - the minimum initial deposit is average, maximum leverage levels high – which is typical for an offshore brokerage. Besides, spreads are really tight – averaged 0.2 pips for the EUR/USD pair and involving a small commission of $4 per standard lot round trip.

 

The Company. Security of Funds

 

Company

Country

Regulation

Pearl Capital Markets Ltd.

Seychelles

FSA

 

FXPearl is an offshore broker, offering trading in forex, CFDs, futures, options and stocks on both MetaQuotes platforms. In fact, the broker provides access to more than 25 major exchanges through API FIX protocol.

 

Offshore zones are attractive destinations for emerging forex brokers because of the looser regulation, if any, and the less costly registration procedure. Companies registered in these jurisdictions are not obliged to possess certain minimum capital, to keep client money in segregated accounts, nor to arrange a compensation scheme in the event of insolvency.

 

If you intend to invest a large amount of funds, we advise you to select among FCA-regulated brokerages, US or Swiss ones, where the respective financial watchdogs are always on alert and your money will be safe and protected.

 

Trading Platforms

 

Like most brokers, this one also supports the MetaTrader 4 (MT4) platform, as well as its successor, MetaTrader 5. Both platforms are available as PC and mobile downloadable versions.

 

MT4 is equipped with all a trader needs: advanced charting package, a number of technical analysis indicators, Expert Advisors (EA) and extensive back-testing options. MT4 has been around for more than 10 years and it seems its popularity is not waning yet, although its developer MetaQuotes said it will no longer issue updates for it and will focus on MT5.

 

As most MT4’s indicators and Expert Advisors (EA) are not supported on the MT5 platform, the latter is still in the shadow of its predecessor, although lately it gained a momentum (as the hedging option was finally added to it, along with other enhancements).

 

Besides, FXPearl has partnered with MyFXBook in order to offer its clients another copy trading option: AutoTrade, a platform specialized in auto trading, which enables traders to track, compare, analyze and share their trading strategies.

 

Methods of Payment

 

FXPearl offers its clients the following payment methods: bank wire transfer and via credit/debit cards, as well as e-wallets such as Skrill, Neteller, cashU.

 

Conclusion

 

FXPearl is an offshore brokerage, whose offerings are really attractive: It provides online trading services in a wide range of financial instruments, including stocks, on two trading platforms (MT4 & MT5). Besides, FXPearl claims to be a STP/ECN broker, however one cannot be sure, as no authority is supervising its activity. That is why we do not recommend this broker.

 

Pros Cons
Tight spreads Offshore broker
STP/ECN execution  
MT4 and MT5 available  
Access to more than 20 stock exchanges  

 

Latest news about FXPearl
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Traders` reviews for FXPearl

Spread

Pros

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Slippage

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Requotes

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Price feed

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Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

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Summary

Pros

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FRAUD!

Balasubramanyam Kovinlakuntla - a major fraud based out of Bangalore, Ganga Nagar 560032. Running illegal business and scamming people of their money via various companies FX Central, Pearl Capital Markets, First Charting and runs a run down group company called First Futuristic Holdings. It is a family business headed by fraud Bala and his brother Ravichandra.

Deletes profit trades and claims he has goons to handle any type of issues if the client asks for returns.

Dipak Jain 11/16/2017
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