1. Home
  2. Reviews
  3. PrivateFX

PrivateFX

PrivateFX | Broker review Barry Copeland 12 / February / 20 Visitors: 722 ★★★★

 

PrivateFX, which became the subject of review of the Brokers for Poland review, in 2017 stopped paying customers and does not function. It specialized in using PAMM accounts.

Year of market entry - 2015

Financial Regulator - No

Since the company entered the market, rumors have been circulating around it claiming that it is the successor to the Forex Trend financial pyramid, which collapsed not so long ago. The company did not deny these rumors, but stated that it was only using the client base it received and unique technical solutions.

The opinions of traders at the time the company entered the market were mixed.

Polish Traders' View on General Information about PrivateFX

Forex broker positive reviews

Forex broker negative reviews
  • For the possibility of profitable investments;
  • For using PAMM accounts.
  • For the lack of financial regulation and reliable control, which is protection against fraud and lottery drum;
  • For connections with his predecessor, crying out for thoughts that the company is exactly the same pyramid and scammers.

 

Terms of cooperation

The main highlight of its trading conditions, the company declared precisely the possibility of using PAMM accounts and automatic trading. According to her statements, it was much more profitable for customers than what brokers usually offer for Poland.

 

Deposit

$500

Trading instruments

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

Leverage

1:100-1:500

Spread

Floating up from 2 

Minimal lot

0,01

Ability to copy deals

+а

Investment in a PAMM account

$10

At the beginning of the company, that is, in 2015, there were quite a lot of traders who evaluated the trading conditions positively. Some noted that the spread would be smaller, but the rest of the offer was fine with them. With the onset of payment problems, positive comments came to naught.

Evaluation of Polish traders trading conditions PrivateFX

Forex broker positive reviews

Forex broker negative reviews
  • For the size of the minimum investment;
  • For copying transactions;
  • For the possibility of using PAMM accounts.
  • From the category of fears that “all this is a fraud and a scam”;
  • For the fact that for a certain number of traders the deposit was a bit high;
  • Inability to choose leverage below 1: 100.

 

Customer service

Unlike the marketing approach used by brokers for Russia, the company did not focus on a novice trader, so customer service included:

 

Support service

+

Trading platform

MetaTrader4

Training

-

Educational materials

-

Information and analytical materials

+

Promotions, contests, bonuses

-

 

In the first months of the company's existence, there were a lot of positive reviews about it, then their number began to decrease and gradually came to naught.

Assessment by Polish traders of the level of PrivateFX service

Forex broker positive reviews

Forex broker negative reviews
  • • For the quality of support services.
  • For the ineffective support service that is in no hurry to resolve financial issues. From which, in the end, there was an opinion that the company was a scam;
  • For the lack of training materials.

 

 

 

 

Deposit and withdrawal of funds

For cash flow broker proposed the most popular methods of those that are usually used by brokers in Russia:

Deposit

Bank cards

Visa, Mastercard

Bank transfer

 

Electronic payment systems

WebMoney, Neteller

Withdrawal

According to customer requests, the term is 4 business days.

 

Feedback on honesty and transparency of mutual settlements in the course of the company’s activity has changed from positive to sharply negative.

The opinion of Polish traders on the quality of depositing and withdrawing funds from PrivateFX

Forex broker positive reviews

Forex broker negative reviews
  • At the very beginning of its work in the market.
  • For the ineffective work of the support service, which is in no hurry to resolve financial issues, which, in the end, led to the opinion that the company was a scam;
  • For the lack of training materials.

 

 

 

 

Barry Copeland Barry Copeland

In 2003, Barry Copeland received a degree in Journalism from the University of Sheffield. He is a sophisticated financial journalist with more than 10 years of experience in the monetary business and the media.Also collaborates with top managers to consider expenses through financial research. His goal is to become a community-level organization consultant, so he plans to continue his training

Comments (0)

What to do if you have been cheated by a Forex broker

You have fallen into the trap of Forex scammer, the situation is not pleasant, but there is a way out. On your side are financial regulators from all over the world, so showing persistence you can increase your chances of getting your money back.

Gold: Pessimistic perspectives

At the beginning of this week, gold prices reached an all-time high. The increase in demand and therefore in price is partly due to the flow of capital from equities into gold.

Rollbit Casino: gambling, cryptocurrencies and NFTs

Rollbit is an online casino that offers its users the opportunity to play a variety of gambling games using cryptocurrencies.

EU initiates 'formal investigation' targeting X

The European Commission has launched a formal investigation into social network X over alleged violations of European content moderation and transparency rules.