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PVP Markets Review - is it scam or safe?

PVP Markets Review - is pvpmarkets.com scam or safe?

RATING: 1.1 / 0 REVIEWS PVP Markets
PVP Markets is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account Min. deposit  Min. trade size Max. leverage Spread
Standard  $250  0.01 1:400 from 2.1 pips
Pro  $25 000 0.1 1:200 from 1.8 pips
VIP  $50 000  0.1 1:100 from 1.5 pips
Exclusive  $100 000 0.1 1:100 from 1.1 pips

 

PVP Markets is an offshore forex and CFD broker that uses the popular MetaTrader 4 platform and offers the account types listed above.

 

Read the full review to see both the advantages and disadvantages of this broker and why we ultimately gave them this low score, although the broker seems to have certain strong sides to it.

 

 

PVP Markets Advantages

 

Offers MT4 platform

As we said in the beginning, PVP Markets allows you to access the global financial markets via the MT4 trading terminal. This platform is highly praised by the trading community for its ease of use and useful functionalities. The platform is especially popular for its superior charting, and the variety of customizable technical analysis indicators and Expert Advisors (EAs).

 

 

PVP Markets' desktop MT4 in demo mode. Click on the image to zoom in.

 

The MT4 is available as a desktop download, web version, as well as Android and iPhone mobile apps. Here you may take a look at our list of brokers offering the MT4.

 

>> Check out the best MT4 brokers <<

 

 

Leverage up to 1:400

Clients of PVP Markets are able to use leverage levels up to 1:400. While such ratios may actually be a negative for unexperienced traders, some professional ones like having the ability to use levels as high as this. It gives them the opportunity to open much larger trades, while depositing relatively small amounts. 

 

A lot of payment methods

PVP Markets also supports a variety of payment methods, which is always a welcoming sign since it extends the broker’s flexibility. This one accepts credit cards, bank wire, Skrill, FasaPay, VLoad, Bitcoin, and others.

 

 

PVP Markets Disadvantages

 

Not licensed

This broker is operated by PVP Markets Ltd., an International Business Company incorporated in Saint Vincent and Grenadines (SVG), where forex brokers are not licensed, nor overseen by any authority. Offshore zones such as the SVG are generally known for their lax business rules and non-existent corporate taxes. This makes them very attractive for scam companies and those seeking to cut financial and regulatory corners.

 

That is why we advise investors to avoid offshore brokers as a general rule and deal only with with companies licensed by reliable regulators like UK's FCA or the Australian ASIC.

 

High spreads

The cost of trading with PVP Markets is yet another major disadvantage of this broker. While the average in the industry is in the range of 1.0 – 1.5 pips on EUR/USD, Standard account holders at PVP Markets get a spread starting from 2.1 pips for this pair.

 

So, one has to deposit at least $50 000 with this broker in order to get a decent spread, which is not the wisest thing to do, considering the company’s lack of financial regulation.

 

Some extra fees

Furthermore, we found out that PVP Markets applies some fees, which are not common in the forex industry. Apart from the usual swap charges, dormant account fees ($30), this broker also has a maintenance fee of $10 charged each month, regardless if there are transactions (deposits, withdrawals or trading activity) on a client’s trading account or not.

 

 

Conclusion

 

PVP Markets has certain strong sides to it: the MT4 trading terminal, the high leverage levels provided. Besides, its website is nice and all trading conditions and costs are clearly presented, which is not very common among offshore brokers. However, this broker is not licensed and this is the main reason why we cannot recommend it.

 

Financial regulation is a key factor when choosing a forex broker. An unregulated company is not obliged to meet any technical, ethical or financial requirements. This means that clients of PVP Markets or any other unregulated broker have no guarantee for the safety of their investment. It is dependent solely on the good will of the people operating the broker.

 

So, our best advice is to invest only with reputable well-regulated companies. Below, you may find a list of licensed financial services providers in the UK.

 

 

>> Trade safely with a FCA-regulated broker <<

 

 

And finally, our summary on PVP Markets:

 

Pros Cons
MT4 supported Not licensed
Up to 1:400 in leverage High spreads
Various payment methods Some extra fees

 

Latest news about PVP Markets
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Traders` reviews for PVP Markets

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Cons

 

 

Deposit/Withdraw

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Cons

 

 

Customer service

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Summary

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