Pmcrypto Review – A Broker Barely Reveals Anything About Themselves
Pmcrypto broker presents itself as a US-based one. Quite a strong statement considering the strict laws and regulations in the US. But also they claim to have offices in Italy, Hong Kong, and South Korea. As expected, none of the addresses are revealed anywhere.
|PMCrypto Global Assets Co. Ltd
Pmcrypto License and Fund Security
Since the company states they are registered in the US, it’s not an issue for us to check it. But to be honest, it’s hard to believe that the company is any close to legitimate business when they don’t provide transparent ownership information. Thus, with CFTC (US) this broker is nowhere near being licensed.
Not only that but not with any other worldwide accepted regulator like FCA, BaFin, ASIC, or CONSOB. Important to realize is that the company revealed only poorly written legal documents. Of course, without a withdrawal policy. Therefore, all funds deposited with this company are exposed to enormous risk.
Pmcrypto Trading Platform
Since the company presents itself as a trusted crypto contracts trading company they don’t have a standard platform. Unfortunately, nothing is open for testing since they don’t provide a demo account. Pmcrypto scam broker provides only a proprietary platform for trading those contracts.
In general, brokers that don’t have transparent platforms don’t have much credibility among traders. Another key points are mobile apps. Indeed, the company promotes iOS and Android apps. However, once you want to download you get a shady QR code.
On top of that, to check anything regarding the broker you must register first. Which is a huge no for such an anonymous company.
Trading Account Offered
As a non-standard trading company, we were expecting some different promotional offers. However, the company doesn’t have any diversified options for traders. None of the options are disclosed starting with the minimum deposit requirement.
As already mentioned, a demo account is not available so trading conditions remain mysterious. From leverage and spreads to fees and commissions.
Procedure for Deposit and Withdrawal
The company doesn’t have any transparent withdrawal policy. Even funding methods are not available on their website. But most likely this broker only accepts crypto transfers. These are hardly traceable and practically once you send them money it’s gone. You can forget about it because you can’t reverse that transaction.
That’s why it’s important to send cryptos only to brokers that you trust. It’s not illegal to use cryptos, but with the investment scam that Pmcrypto runs, it’s very dangerous.
How Is the Con Carried Out?
Obviously, this broker didn’t care much about its presentation. Their only goal is to extract as much money from traders and vanish. Since they are anonymous and non-transparent you can expect everything. To lure traders on social media, marketing campaigns or even referral programs.
But it’s important to rethink every offer. Trading exists for many years and if you miss one day, you are not going to miss other opportunities. Don’t fall for cheap tricks and deposit with these scammers. As we can see from Pmcrypto reviews, withdrawals are the biggest issue. Firstly, the company discloses that they have withdrawal fees. But they don’t reveal how big those are.
That’s one way to extort your last cent after they try to prolong the withdrawal procedure. Other tricks that swindlers are using are AML laws and document verification procedures.
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Pmcrypto is a completely anonymous company. They don’t reveal any ownership or contact information. Access to the website is limited and requires registration. After all, there is no withdrawal policy. Everything about this broker smells like a scam. As the cherry on top, they are not licensed anywhere.
FAQs About Pmcrypto Broker
Is Pmcrypto Good for Beginners?
Absolutely not. They don’t have any risk-free options for traders and no license for trading.
Is Depositing with Pmcrypto Safe and Secure?
No. Firstly because they don’t have transparent funding methods and withdrawal policy.
How Long Will It Take to Process My Withdrawal Request?
This information is unknown due to a non-existent withdrawal policy, but most likely forever.