Note: Brokers Complaint Community has conducted much research before flagging Petron Pay as a possible scam in this Petron Pay Review.
Trading has become the most common and most widely accepted tool for people. However, it doesn’t mean that it is a safe place for everyone. There involves a risk of losses. And more importantly the risk of getting scammed by the scam brokers. A number of scam brokers exist in the forex and trading market and operate actively with the motive of scamming the investors and running away with their money. One such suspected scam broker is Petron Pay. Let’s get in detail about this broker by reading the Petron Pay review here. It will definitely help you decide on choosing your right broker and will give you a clear insight about the Petron Pay broker.
Petron Pay Review –
Petron Pay, as the name, suggests claims itself to be dealing in the investment in oil. Apart from this, there are no other forex trading assets or valuable assets to invest here. Petron Pay claims to offer the investors different packages at different prices. They convince the customers to invest with them by offering higher returns. And one of the major red flags lies here is that the clients are supposed to pay through bitcoins only. The use of bitcoins here creates a sense of doubt in the mind of investors as these currencies are not regulated by any financial authority and are also not traceable. Hence, it involves the risk of getting scammed if the broker is asking you to pay through bitcoins or cryptocurrency.
Regulation Status –
The website of Petron Pay states that the broker is based in Switzerland. The main key point to know about the broker’s genuineness is if the broker is regulated by any concerned financial regulator. But, in the case of Petron Pay, the broker is not at all regulated and does not contain a license from any legit authority. Furthermore, the address provided by the broker is not trackable as various reports state the broker is not listed at the given address. This makes it clear that Petron Pay is hiding something important and is involved in some kind of suspicious activity.
Scamming Platform –
Petron Pay is considered a scamming platform by its clients and investors. A number of complaints regarding the loss of funds have been filed by the clients. It is also stated that the Petron Pay broker will steal all your money and will disappear. Offering higher returns and attractive schemes often convince the investors for a period of time. But, the investors should be well versed with the broker before investing a huge sum of amount with them.
Is it Safe to Invest with Petron Pay-?
It is stated that the broker has been manipulating the forex and stock price movements. However, it is not safe to move ahead with your investments with Petron Pay broker. Several low star ratings and negative reviews are proof that the Petron Pay scam is true and the broker is not a good option to invest all your life savings in.
Is Petron Pay Scam or Legit?
Brokers Complaint, after researching well about the broker, concludes that Petron Pay is a potential scam broker. We do not suggest our readers invest with this broker. A good broker is someone who is regulated and controlled by a concerned financial regulator and is clear in its terms and conditions. This broker lacks both things which can definitely lead to the Petron Pay scam. If you are a victim of a scam, reach out to us at Brokers Complaint and get help in the lost fund recovery.
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