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PBN Markets Review - is it scam or safe?

PBN Markets review - Is pbnmarkets.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz PBN Markets
PBN Markets is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


PBN Markets is a unregulated offshore broker with a fresh warning form the Italian Commissione Nazionale per le Società e la Borsa (CONSOB) for targeting EU customers without proper authorization and possible involvement in a scam scheme.

 

Trading account  Min. deposit Max. leverage Spread
Standard Account n/a 1:300 1,5 pips

 

PBN Markets Advantages:

 

Comprehensive list of trading instruments

 

We always start our reviews with the positive sides about the broker and the list of tradable assets with PBN Markets is definitely one. They offer 45 currency pairs, many of which cross pairs, minors and exotics like USDZAR, USDSGD, USDTRY, USDSEK, USDPLN, USDNOK, USDMXN, USDHUF, USDCNH, USDCZK and USDCLP. The list of CFDs is also comprehensive – 13 indices, stocks, silver, gold, natural gas, oil, other commodities and even crypto coins, including Bitcoin, Bitcoin Cash, Dash, EOS, Ethereum, Ethereum Classic, IOTA, Litecoin, NEO, Tron, Monero, Ripple and Zcash. Still if you like the idea of trading crypto coins, here you may also check our list of brokers trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Leverage of up to 1:300

 

Many traders are tempted to trade with higher leverage, despite the associated risks. And if you are one of them, you may also check our list of brokers, regulated in Australia – the last major regulatory hub where high margin trading is still unrestricted, after in August 2018 the European Securities and Markets Authority (ESMA) caped the maximum leverage allowed with forex transactions at 1:30, following similar moves by the regulators in the US, Canada and Japan:

 

>>Brokers regulated in Australia<<

 

A variety of payment methods

 

At PBN Markets you can pay with VISA and MasterCard, bank wire, WebMoney, QIWI, Yandex Money, Neteller, Perfect Money, CashU and OKPay. The only major e-wallet we miss in the list is Skrill and that is notable, because of the new anti scam policy adopted by the money transfer company, according which its services are available only to brokers, holding legit licenses. As we already noted  PBN Markets is not a licensed broker.

 

Good spreads

 

As tested with a demo account the benchmark EURUSD spread floated about 1,5 pips and this is acceptable. Remember that spreads are generally considered attractive only if the start below 1,5 pips with a standard account. Besides, here you may also check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 available

 

PBN Markets offers one of the most reliable and widely used trading solutions on the market – the MetaTrader4 platform. Apart from its advanced charting tools and numerous customizable market indicators, the MT4 also supports specially designed trading robots called Expert Advisors, with which you can easily run automated trading sessions. Besides, here you may also check our list of brokers offering the MetaTrader4:

 

 >>MT4 Brokers<<

 

PBN Markets Disadvantages:

 

 

No license, CONSOB warning

 

As we noted PBN Markets, which is owned by the Marshall Islands based Capital Tech Ltd, and operated by Pbox Ltd, located in Bulgaria, is blacklisted by the Commissione Nazionale per le Società e la Borsa (CONSOB) in Italy for illegally targeting EU customers. 

 

Bear in mind that EU, along with the US, Australia, Canada and Japan, is a strictly regulated market, where only brokers holding legit licenses by respectable institutions such as the Financial Conduct Authority in the UK or the Cyprus Securities and Exchange Commission (CySEC) are allowed to operate. And besides, among other benefits, if you chose to trade with a FCA broker, your funds will be insured for up to 85 000 GBP, so here you may also check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Trading bonuses with unusual withdraw conditions

 

The practice of offering trading bonuses is banned throughout Europe altogether. The problem with all trading bonuses comes from the fact that they are always linked to some special withdraw conditions. In the case of PBN Markets, if you accept for example 200 USD as a bonus, you will have to trade at least 50 standard lots or 5 million USD in 60 days in order to withdraw any profits. On top of that you will not be allowed to trade with leverage higher than 1:100 and PBN Markets also reserves the right to change the terms of the bonus policy at any time.

 

No information about the minimum deposit requirement

 

Most brokers will ask you for a minimum initial deposit of about 250 USD, while some big names like FBS and IG do not have such a requirement at all. On the PBN Markets website we were not able to find any information about their minimum deposit requirement.

 

Conclusion:

 

PBN Markets is a low credibility, unregulated offshore broker, which has been flagged by the Italian financial regulator for possible scam activities. So our advise again is to trade only with brokers regulated by legit institutions such as FCA in the UK, CySEC in Cyprus or the Australian Securities and Investments Commission (ASIC).

Latest news about PBN Markets
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Traders` reviews for PBN Markets

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