Updated on January 15, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding PBN Trade due to the issues we've identified.
Is PBN Trade Scam or Legit Broker? ▲
PBN Trade has been conclusively identified as a fraudulent entity. The brokerage is incorporated in the Marshall Islands, an offshore jurisdiction, and lacks any form of licensing from globally recognized and reputable financial regulatory bodies. It is categorically unsafe to engage in trading activities with PBN Trade. We strongly discourage trading with offshore brokers, as the financial services they offer cannot be deemed trustworthy.
The justification for this stance is straightforward: despite potentially offering enticing trading conditions or environments, traders have no assurances from official entities that oversee the Forex market. Entering into transactions with such a broker implies that traders must rely solely on the broker's assurances, representing a substantial risk.
PBN Trade operates under the name of Capital Tech Ltd., situated in a regulatory lax zone in the Marshall Islands. The brokerage maintains two domain addresses, targeting clients globally with promises of secure trading via segregated accounts and superior execution performance. Nonetheless, our primary concern lies with the broker's offshore status—a status we advise against due to the lack of safe trading environment guarantees.
Regulatory bodies globally share alerts and official sources of information directly, or through other countries' supervisory entities, to foster market offering stability, protect clients from fraud, and ensure financial service entities adhere to reliability standards. Lacking authorization to operate within the EU and other regulated areas, PBN Trade has been blacklisted and issued warnings by numerous EU regulatory authorities.
One notable alert came from the Austrian Financial Market Authority (FMA) in October 2018, stating, “The Austrian Financial Market Authority (FMA), may disclose to the general public by publication on the Internet, in the official gazette ‘Amtsblatt zur Wiener Zeitung’, or in any other newspaper with nationwide circulation, that a particular natural PBN Trade is not entitled to carry out certain banking transactions that require a license.”
We emphatically caution against engaging with PBN Trade. The preservation of funds is paramount in trading activities, hence our recommendation to opt for regulated brokers.
PBN Trade Update
Our investigations have uncovered that the PBN Trade website is no longer active, indicating that the broker has ceased its trading services. Nevertheless, we advise maintaining vigilance and steering clear of any offers that may arise.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
PBN Trade Review 2024
