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PTBanc Review - is it scam or safe?

PTBanc Review - is ptbanc.com scam or good forex broker?

RATING: 1 / 3 REVIEWS ForexBrokerz PTBanc
PTBanc is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account  Minimum deposit Maximum leverage Spread
Classic  $1 000 1:100 3.0 pips, fixed
Silver  $2 500 1:100 3.0 pips, fixed
Gold   $5 000 1:100 3.0 pips, fixed

 

Forex brokerage PTBanc offers the above account types, plus Platinum and VIP ones, which we have not included because of the extremely high initial investment required (above $20 000). However, it seems that the only difference between the different account types is that traders who deposit more get a higher on-deposit bonus, not better trading conditions.

 

 

PTBanc Advantages       

 

Many tradeable instruments, including cryptocurrency CFDs

It appears that clients of this broker can trade in many currency pairs and wide range of CFDs, including on cryptocurrencies. The latter include Bitcoin, Ethereum, Ripple, Bitcoin Cash, Dash, Litecoin and more.

 

This is the only possible advantage of PTBanc we could think of, however, be warned that dealing with unregulated brokers involves a significant level of risk.

 

 

>> Licensed forex brokers offering Bitcoin <<

 

 

PTBanc Disadvantages

 

No corporate clarity, regulatory warning against it

When it comes to the company owning and operating PTBanc, things seem very unclear. We could not find the name of the company anywhere on its website, only an address in Luxembourg, which is basically means that its service is anonymous.

 

What is worse, we found out that PTBanc has been blacklisted by Luxembourg’s financial regulator. The Commission de Surveillance du Secteur Financier (CSSF) informed the public that PtBanc is unknown to it and that the entity has not been granted any authorization to provide investment or other financial services in or from Luxembourg.

 

 

Doing business with an unregulated brokerage is very risky and we always advise our readers to avoid them, as most of them are pure scams.

 

 

MT4 not available

Instead of the good old MetaTrader 4 which most brokers support, PTBanc offers trading on an oversimplified web-based platform. Its charting is very basic and it lacks any advanced features. Take a look:

 

 

Click on the image to zoom-in.

 

The MT4, on the other hand, provides a full range of tools and features: great charting, numerous built-in technical indicators, Expert Advisors (EAs) for automated trading and extensive back-testing environment.

 

 

>> Trade with a MT4 broker <<

 

 

Wide spreads, very high initial deposit

In order to open an account with PTBanc, a trader has to deposit at least $1 000, which is a very high initial investment. The majority of brokers require $100 - $250 as a start, including reliable and regulated ones.

 

What is worse, it seems that the broker does not offer much in return. A spread fixed at 3.0 pips on the EUR/USD is anything but competitive. By comparison, one can use a spread fixed at 1 pips for this pair with easyMarkets by investing $250.

 

 

>> Compare the spreads of top-tier brokers <<

 

 

Conclusion

 

PTBanc is an unregulated forex and CFD broker with very limited credibility. Its offer is not very transparent, nor attractive: the costs of trading seem high and MT4 is not supported. Nonetheless, our main concern with PTBanc is the fact that it is not licensed, and there is a regulatory warning against it.

 

Basically, when trading with such a broker, your entire account balance is at risk and you might not be paid anything, when you demand a withdrawal. In contrast, when dealing with a licensed broker, you will be assured a certain level of protection. For example, forex brokers licensed in the UK are very reliable. They are under the oversight of the UK’s Financial Conduct Authority (FCA), which applies strict rules to them. Besides, they are under the umbrella of the Financial Services Compensation Scheme (FSCS).

 


 >> Trade with a FCA regulated broker <<

 

 

To sum up the above:

 

Pros Cons
Many instruments available, including crypto CFDs No corporate clarity, regulatory warning against it
  MT4 not supported
  High initial deposit, wide spreads

 

Latest news about PTBanc
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Traders` reviews for PTBanc

Spread

Pros

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Slippage

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Requotes

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Price feed

Pros

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Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

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Summary

Pros

Cons

 

 

Truffa PTbanc

Ho aperto un conto con ptbanc depositando dapprima (il 27/11/2018) $.250, stessa situazione citata dal precedente commento, tutti gentilissimi a partire dalla fantomatica Diana Rotschild ed il suo presunto capo Adam. Successivamente ho versato altri $.2500 ed ai primi guadagni mi hanno accreditato sul mio conto italiano e sulla carta di credito con cui avevo in precedenza depositato una somma comunque inferiore a quella versata (ma che chiaramente mi ha invogliato a continuare con il trade). Sull'account ptbanc iniziavo a vedere i guadagni (raggiunti mediante operazioni velocissime di circa una trentina di secondi), a quel punto ho iniziato a fare trading da solo raggiungendo anche discreti risultati. Nel gennaio di quest'anno, anche un mio amico decideva di investire con cifre nettamente superiori (chiaramente i guadagni erano ben altra cosa) a quel punto mi convincevano ad investire altre somme per un importo globale di circa €.9000 (tra bonifico da c.c. italiano e transazioni tramite coinbase)oltre ad altri €.5000 che solo grazie ad un colpo di fortuna sono riuscito a salvare in quanto a seguito del passaggio da coinbase mi veniva bloccato quest'ultimo account con il relativo blocco dell'operazione verso ptbanc.
Nel mentre avendo aderito ad un fantomatico contratto che mi legava ad investimenti della durata di 4-6 settimane per acquisto/vendita oro, all'inizio della terza settimana la citata Diana mi comunicava di aver anticipato circa $.5200 sul mio conto (relativi al passaggio da coinbase ancora non andato a buon fine e più volte sollecitato anche da quest'ultima tramite mail e chiamate dirette ai centralini ed al supporto della piattaforma in questione), tale anticipo mi diceva sarebbe servito ad aumentare il capitale disponibile all'investimento ORO in modo da raggiungere l'obiettivo prefissato (70% di guadagni) il prima possibile, in effetti attraverso un controllo giornaliero notavo dalla piattaforma il raggiungimento degli obiettivi di guadagno promessi e pertanto attendevo il termine temporale per richiedere una parte dei profitti. In data 26/03 (dal 28/02) veniva sbloccato il conto coinbase sul quale trovavo ancora i €.5000 versati a suo tempo per il passaggio a coinbase. Trovandomi ormai a soli 3 giorni dalla chiusura del citato fantomatico contratto ORO, comunicavo l'intenzione di non voler eseguire il trasferimento di questi fondi per evitare il pagamento di commissioni e che avrebbero potuto detrarre il credito di $.5200 dal mio conto che a quel momento era pari a $.22000. A questa mia richiesta la fantomatica Diana reagiva in maniera furiosa dicendomi che non potevo dettare le regole del gioco (pazzesco a pensare che con i miei soldi non avevo il diritto di gestione). Richiedevo a quel punto (tramite apposita funzionalità in piattaforma) un prelievo pari a $.15000, immediatamente venivo contattato da altra fantomatica figura amministrativa che mi diceva, che dai conti in loro possesso, poteva inviarmi solo $.7000 sul c.c. italiano e che contestualmente avrei dovuto inviare i €.5000 tramite coinbase. Dichiaravo di essere disposto a ricevere tale somma ed al suo accredito avrei inviato i €.5000 stesso mezzo e non da coinbase (vista l'esperienza negativa e la sfiducia in questi tizi, chiaramente i trasferimenti in criptovaluta sono difficilmente rintracciabili). Da venerdì 29/02 sia io che il mio amico non abbiamo avuto più alcuna notizia. Ieri ci accorgevamo che nei rispettivi account erano state inviate (alle ore 11:30 circa) cospicue transazioni in acquisto di ORO al momento ancora in atto (evento rarissimo, come scrivevo all'inizio avevano effettuato solo operazioni di pochi secondi). Credo a questo punto che, non potendo chiudere l'operazione, l'intenzione di questi truffatori sia quella di far andare in negativo i conti fino all'estinzione totale degli stessi. Tra ieri ed oggi abbiamo inviato mail e messaggi che chiaramente non hanno avuto risposta.
Chiunque si trovasse nella stessa condizione mi contatti tramite mail per concertare azioni comuni nei confronti di tali soggetti.
P.S. credo di poter suggerire una soluzione che può congelare, in parte, le perdite relative all'operazione che non si riesce a chiudere.


Translated by Google:

I opened an account with ptbanc by depositing first (11/27/2018) $ .250, the same situation mentioned in the previous comment, all very kind starting from the mysterious Diana Rotschild and her alleged boss Adam. Then I paid another $ .2500 and the first earnings credited me to my Italian account and to the credit card with which I had previously deposited a sum less than the amount paid (but which clearly made me want to continue with the trade). On the ptbanc account I started to see the gains (achieved through very fast operations of about thirty seconds), at that point I started trading by myself, even achieving decent results. In January of this year, even a friend of mine decided to invest with much higher figures (clearly the gains were quite another thing) at that point they convinced me to invest other sums for a global amount of about € .9000 (between bank transfer Italian and coinbase transactions) as well as other € .5000 that only thanks to a stroke of luck I managed to save because as a result of the changeover from coinbase this last account was blocked with the relative block of the operation towards ptbanc.
Meanwhile, having joined a phantom contract that tied me to 4-6 week investments for gold buying / selling, at the beginning of the third week the aforementioned Diana told me she had advanced about $ .5200 into my account (relating to the passage from coinbase still unsuccessful and repeatedly requested by the latter also via email and direct calls to the switchboards and to the support of the platform in question), this advance told me it would have served to increase the capital available for investment in GOLD so as to reach the set target (70% of earnings) as soon as possible, in fact through a daily check I noticed from the platform the achievement of the promised profit targets and therefore I waited for the time limit to request a part of the profits. On 26/03 (from 28/02) the coinbase account was unlocked on which I still found the € .5000 paid at the time for the transition to coinbase. Being now only 3 days after the closing of the aforementioned ORO contract, I announced my intention not to transfer these funds to avoid paying commissions and that they could deduct the credit of $ .5200 from my account which at that moment was $ .22000. To this my request the elusive Diana reacted in a furious way by telling me that I could not dictate the rules of the game (crazy to think that with my money I did not have the right of management). At that point, I requested (via a special function on the platform) a withdrawal of $ .15000, I was immediately contacted by another imaginary administrative figure who told me, that from the accounts in their possession, he could send me only $ .7000 on the CC. Italian and at the same time I should have sent the € .5000 via coinbase. I stated that I was prepared to receive this sum and to his credit I would send the same € 5,000 and not as a coinbase (given the negative experience and the lack of confidence in these guys, clearly cryptocurrency transfers are difficult to find). Since Friday 29/02 both my friend and I have had no further news. Yesterday we realized that in the respective accounts had been sent (at about 11:30 am) substantial transactions in the purchase of GOLD at the time still in progress (very rare event, as I wrote at the beginning they had only carried out operations of a few seconds). I believe at this point that, since they cannot close the transaction, the intention of these scammers is to make the accounts go negative until they are completely extinguished. Between yesterday and today we have sent emails and messages that clearly have not been answered.
Anyone who was in the same condition contact me by e-mail to discuss common actions against these subjects.
P.S. I believe I can suggest a solution that can freeze, in part, the losses related to the operation that cannot be closed.

Francesco 04/02/2019

Ptbanc e una truffa

La mia esperienza con PT Banc è stata di depositare dei soldi ti seguono sono molto gentili molto credibili molto bravi poi all'atto del prelievo spariscono e non ti faranno mai a prelevare mi hanno seguito per 6 mesi mi hanno fatto fare solo un piccolo prelievo di €2500 Però il mio deposito era molto di più a l atto che avevo chiesto €50000 che oramai il mio conto è arrivato a 80.000 sono spariti tutti Ho perso €25000

Translated by Google:

My experience with PT Banc was to deposit the money you follow are very kind very credible very good then at the time of the withdrawal disappear and will never make you withdraw I followed for 6 months I have only done a small withdrawal of € 2500 But my deposit was much more to the action I had asked € 50,000 that now my account has reached 80,000 have disappeared all I lost € 25,000

Giovanni 12/07/2018
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