PSI Markets Review: A Detailed Look at its Legitimacy
PSI Markets claims to be a trustworthy financial platform offering a wide range of instruments, including indices, commodities, stocks, cryptocurrencies, and currency pairs. The platform, which is run by TBC International Markets LTD, claims to have been approved by Dominica’s International Financial Services Commission (IFSC). However, upon closer examination, these claims raise significant concerns.
Known Websites: https://www.psi-markets.com/ and https://www.psi-markets.com/trading/
Domain Age:
- Name PSI-MARKETS.COM
- Registry Domain ID 2794689276_DOMAIN_COM-VRSN
- Registered On 2023-06-30T06:48:45Z
- Expires On 2025-06-30T06:48:45Z
- Updated On 2024-09-27T02:57:57Z
Overview
PSI Markets operates as an online brokerage platform targeting global investors with promises of diverse financial products and attractive trading conditions. However, regulatory warnings and inconsistencies in their claims indicate otherwise.
The platform is flagged by financial regulators, including the Financial Conduct Authority (FCA) in the UK, for operating without proper authorization. Additionally, the Portuguese Securities Market Commission (CMVM) has issued warnings about PSI Markets, cautioning investors to steer clear of their services. These warnings highlight the potential risks associated with trusting unregulated brokers like PSI Markets.
Is PSI Markets Legit or a Scam?
To determine whether PSI Markets is legitimate, one must examine its regulatory status and operational transparency. The company claims to be authorized by the IFSC of Dominica. However, no government agency in Dominica regulates forex brokers; instead, the Financial Services Unit (FSU), which is part of the Ministry of Finance, is the only regulatory organization in the nation. This discrepancy makes PSI Markets’ regulatory claims questionable.
Moreover, PSI Markets is explicitly listed on the FCA’s warning list for offering financial services without authorization in the UK. The CMVM has also identified PSI Markets as a suspicious platform, further solidifying concerns about its legitimacy. These warnings underscore the high likelihood of PSI Markets being unreliable.
Conclusion
In this PSI Markets review, the evidence points to the platform being untrustworthy and potentially harmful to investors. With regulatory bodies like the FCA and CMVM issuing clear warnings, it is evident that PSI Markets fails to meet the necessary standards for a legitimate brokerage service. Investors are strongly advised to avoid this platform and instead seek regulated brokers with proven track records.
Scams Report Reviewed PSI Markets
Scams Report, a trusted platform for exposing fraudulent activities, has analyzed PSI Markets and found reasons for concern. We specialize in identifying brokers that exhibit red flags commonly associated with scams, such as unclear regulation, questionable practices, or hidden policies.
Scams Report also supports victims of online scams like forex trading scams, cryptocurrency schemes, social media schemes, and internet dating scams, offering free consultation and guidance on fund recovery.
If you’ve faced challenges with PSI-Markets.com or any other broker, our experts are ready to help you take the first step toward reclaiming your funds.
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