PNX Finance is a trading company registered in the United States but operates beyond the purview of NFA regulation, giving rise to regulatory apprehensions. To know more about the red flags of PNX Finance, read this complete PNX Finance review below.
Website: https://pnxfinance.com/
Address: 30 Broad St., New York, NY 10004, United States
Regulated: Unregulated
Warning by: Not Recommended By Review Website Like Scams Report
Domain Age:
Domain Name | pnxfinance.com |
---|---|
Date Registered | August 10, 2023 |
Domain Age | 4 months, 19 days, 3 hours, 18 minutes, 30 seconds |
PNX Finance Review:Regulation
PNX Finance is currently operating beyond the parameters outlined in its business license, as governed by the United States NFA (National Futures Association). The license, identified as a “Common Business Registration Non-Forex License,” raises concerns as the warning indicates that the broker surpasses the business scope stipulated by this license. Furthermore, the absence of trading software is highlighted as a potential issue for individuals considering trading activities through this broker.
The regulatory standing of PNX Finance, as per the available information, appears questionable. As a result, prospective investors or traders are advised to exercise caution and conduct thorough due diligence before engaging with this broker. This precaution is essential to safeguard financial interests and ensure compliance with regulatory requirements.
PNX Finance Review: Trading Assets
PNX Finance claims to provide an extensive array of trading instruments, accommodating a diverse range of trading preferences and strategies. Traders have the option to select from cryptocurrencies, forex currency pairs, precious metals, and indices, enabling them to diversify their portfolios and capitalize on various market opportunities.
Prior to engaging in trading, it is imperative for traders to conduct thorough research and gain a comprehensive understanding of the risks associated with each instrument.
Information about trading accounts and leverage
The information provided by PNX Finance lacks clarity when it comes to account types and leverage levels. This absence of transparency can be a source of frustration for prospective clients, as these details play a vital role in making well-informed decisions about trading.
To gain clarity on these aspects, clients are encouraged to contact the company directly or refer to their official website. Inadequate information about account types and leverage has the potential to introduce uncertainty and impede the decision-making process for traders.
Trading Conditions – Spreads and Commissions
The information given highlights various elements concerning fees linked to trading with PNX Finance. Nonetheless, it lacks specific details regarding the spreads and commissions imposed by the company for its trading services.
The document lacks specific information regarding the spreads or commissions that clients may encounter during their trading activities with PNX Finance.
PNX Finance Review: Payment Methods
PNX Finance provides multiple choices for depositing and withdrawing funds, including options such as Visa, Mastercard, Wire Transfers, and Cryptocurrency. The company applies a standard withdrawal fee, equivalent to 2% of the withdrawal amount, which is subtracted from the funds being withdrawn.
It is crucial to take note of any associated fees, including the 2% withdrawal fee, and carefully adhere to the provided instructions during transactions to ensure a seamless process.
PNX Finance Review: Educational Resources
It seems that PNX Finance might not include educational resources in its suite of services. Educational resources often encompass materials such as articles, tutorials, webinars, or courses intended to assist traders and investors in enhancing their understanding and skills within the financial markets.
The lack of educational resources could pose a limitation for traders, particularly those who are new to trading and would gain value from access to learning materials.
Conclusion
If you fall prey to the PNX Finance scam, it is essential to take proactive measures by initiating a dispute and requesting a chargeback. Fill out a complaint form on our Scams Report website to avail yourself of a free consultation from our experts specializing in the fund recovery process.
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Note: The information provided in the above PNX Finance review is derived from existing web PNX Finance reviews. Please be aware that we cannot be held liable for any legal action taken by PNX Finance company. If you have any inquiries or concerns, kindly reach out to us via email at admin@scamsreport.net.