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PTBanc Review - is it scam or safe?

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

RATING: 1 / 1 REVIEWS 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
No news about PTBanc . Check back later.
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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

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Cons

 

 

Platform

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Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

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Cons

 

 

Summary

Pros

Cons

 

 

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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