Owned by a company named Global Market Network LTD as they claim, the broker was founded in 2012. They are claiming to offer several commodities for clients. Patforex claims to be offering CFDs and Cryptocurrency to anyone who opens an account with them.
Patforex Trading Platform
Patforex claims their trading platform offers 1 click hedging and 3 Chart types. The alleged does not offer the MetaTrader 4 trading platform. There is a problem with their web terminals, which is ”Lack of proper security features”.
DDoS puts members on a safe lane. There discerning trading conditions and the terminal itself looks quite fake.
What Patforex Claims To Offer
Patforex claims to try and achieve the impossible. They claim to offer different commodity for clients. The broker claims to have attractive spreads with deep liquidity. The alleged also claims to offer over 50 spots Forex CFDs, when it pertains to trading forex.
They claim to offer a fast and reliable trading platform that is better than all others. They also offer over 10 major indices with leverage of 1: 100. The leverage is 1:500 with spreads from zero pips, and also claims to have advanced technical indicator which isn’t found on their platform. All these offers are quite attractive, which would make anyone sign up quickly.
Patforex Account types
Patforex offers its customers the different types of trading accounts.
They are as follows ;
BASIC; The minimum deposit required to use this type of account is $250.
BRONZE; The minimum deposit needed to use this type of account is $2,500.
SILVER; The minimum deposit that is needed to make trade on this type of account is $50,000.
GOLD; The minimum deposit that is needed to make trade on this type of account is $10,000.
MANAGED; to have access to the managed account, you need to forst make a minimum deposit of $50,000.
Apart from the Basic account, every other accounts come with an account manager.
Patforex Withdrawal Method
On their homepage, information about depositary and withdrawal channels are missing. Members are vulnerable to scams because of this lack of information.
Is Patforex licensed and Regulated?
All our researches brought us to the fact that ”Patforex is NOT LICENSED OR REGISTERED”. After taking a look at their website, it shows that they do not fall under any regulating agency. There is no regulating body that has claimed to have any association with Patforex.
This means customers are at risk. They are not protected.
Conclusion
Patforex is anonymous and unregulated. This is a big red flag to all traders. They do not offer free demo accounts, and have a trading platform that looks fake. These factors clearly indicates that investing in Patforex is very risky, you might never see the money you invested again.
So we advice traders to be careful when choosing a broker. Trade safe.
