Guarding your experience

PrivateFX, operating on the Polish market


07 / April / 20 Bunsi Shakiramal Visitors: 31 Rating: ★★★★★

PrivateFX, operating on the Polish market on the same basis as many brokers for Poland, ceased operations in 2017.

Start of work on the market - 2015

Financial Regulator - No

Terms of cooperation and customer service options *

Broker proposal

The rating that the broker deserved for this item (reviews, comments, statements) **

Trading Instruments

Currency pairs, bitcoin, futures, US and UK stocks, index CFDs.

0

Minimum deposit

$500

+/-

Leverage

1: 100-1: 500

+/-

Spread from

0.2

+/-

Ability to copy deals

Yes

+

Deposit funds

• Bank cards;

• bank transfers;

• Payment systems

+/-

Customer support

+

+/-

Training

-

+/-

Information and analytical materials

+

+/-

Contests and promotions

-

0

Trading platform

  • MetaTrader4;

• terminal for binary options

0

* The parameters that are most often used by brokers for Poland are selected.

** The data used is available in open sources of information - estimates received by the Forex broker (reviews, messages, comments, etc.). The legend “+” is more positive, “-” is more negative, “0” is neutral or small, “+/-” is contradictory.

 

Since the broker's appearance on the market, he was associated with the collapsed financial pyramid Forex Trend, therefore, he was suspected of intentions of fraud and scam. The company itself did not hide such a connection, however, the broker commented on the reviews about it with messages saying that they just took over the client base and some technological developments. The company served as a highlight and innovation, with which other brokers cannot compete, the use of PAMM accounts. However, this was not an innovation in the literal sense; indeed, the innovation could be called the copying of transactions that was used simultaneously. Nevertheless, it created image as an innovator in the Forex broker, reviews of which are full of discussions about the benefits of working with accounts of this type.

Overall assessment of trading conditions by customers

Initially, a discussion of the terms of cooperation from a broker came down to using PAMM accounts and discussing whether a broker is a scam or not - reviews of that time are concentrated around these two topics. The popularity of the company was added by the ability to copy deals and use bitcoin as a trading tool, which brokers for Poland did not always do. It can be said that in any case, the Forex broker earned stormy reviews, regardless of their color.

Evaluation by traders of the quality of service

In the first months of the broker's work on the market, the opinion of traders on the quality of service was positive. The company did not look at newcomers as potential customers, so training was not provided by it. Since the beginning of payment problems, the picture has changed dramatically. The outrage began to grow, the Forex broker began to receive reviews of a negative and sharply negative nature, up to charges of fraud and scam.

Assessment of honesty and completeness of input and output of cash

As payment delays appeared, almost any positive message from traders disappeared. For traders, the prospect of materializing fears about the fact that the company is a scam began to receive broker reviews of a negative nature in increasing quantities. As a result, digging has earned a scandalous reputation with negative assessments of traders right up to the threats of litigation. As a result of its activity, PrivateFX left the market.

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