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PNX Finance Forex Broker Review: High Risk (Suspected Fraud)

TraderKnows
TraderKnows
2023-11-23

PNX Finance is a forex trading platform established in 2023. This article will provide a comprehensive review of PNX Finance from the perspectives of regulatory licenses, trading products, trading software, fund security, deposit and withdrawal methods, leverage ratios, and more.

Introduction to PNX FINANCE:

PNX Finance Limited is the registered corporate entity of PNX FINANCE in the United States, with the registered address at 18121 E Hampden Ave, Aurora, US, and registration number 20231671098. The broker claims on its official website to have been founded by Brent Cunningham in late 2012 in the United States. However, the company was officially registered in the state of Colorado on June 26, 2023, and made its formal online debut on September 20, 2023. According to the whois search, the broker's website domain was registered on August 10, 2023, less than three months ago.

PNX FINANCE

PNX FINANCE

Is PNX FINANCE legit? Does it hold relevant financial regulatory licenses?

PNX Finance operates without regulation from any financial regulatory body. PNX Finance Limited is a non-member registered entity with the National Futures Association (NFA) in the United States, not subject to NFA supervision, indicating a lack of effective regulation.

PNX FINANCE

Additionally, PNX FINANCE shares significant similarities with STELLAR FINANCE and AMBERLIGHT FINANCE, including claims of Brent Cunningham as the founder, headquarters address at 30 Broad St., New York, NY 10004, United States, and registration dates of June 26, 2023. All three websites were registered on August 10, 2023, suggesting they are part of the same template and product batch.

AMBERLIGHT FINANCE

AMBERLIGHT FINANCE

AMBERLIGHT FINANCE

Trading Products Offered by PNX FINANCE

PNX FINANCE, as indicated in its FAQ section, provides trading services for financial assets, including forex, precious metals, indices, and cryptocurrencies.

PNX FINANCE的交易品种

Trading Software Provided by PNX FINANCE

PNX FINANCE offers its proprietary trading platform on its official website for PC, Android, iPad, iPhone, and web. However, the download buttons on the website do not function, only the registration page can be opened.

PNX FINANCE

Fund Security

PNX FINANCE does not disclose any third-party fund oversight information on its official website, raising concerns about the security of user funds.

Deposit and Withdrawal Channels

PNX FINANCE only claims on its official website that funds can be deposited through wire transfer or block chain, but it does not explain the withdrawal method, the specific operation steps of deposit and withdrawal and the required fees. PNX FINANCE did not provide clear information such as the deposit and withdrawal channels, so it is impossible to know how users deposit and withdraw money.

PNX FINANCE

Leverage Ratios

The broker did not disclose specific leverage ratio information. Without knowing the leverage level of the account, it is difficult for users to effectively manage risks. Compliant brokers typically provide detailed leverage information.

PNX FINANCE提供的杠杆比例

Summary

PNX finance is a forex broker without any legal supervision, and the broker wantonly fabricates its company information and deliberately conceals its true information. The broker did not release any key information about fund security and deposit and withdrawal channels. At present, the broker is marked as "Suspected Fraud" on traderKnows. In addition, PNX finance is the same batch of products with the same template as Stellar Finance and Amberlight Finance. TraderKnows hereby reminds you that PNX finance is a high-risk forex broker. Please stay away from the platform to avoid personal property losses.

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Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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Wiki

Pig Butchering Scam

The 'Pig Butchering Scam' is a type of financial fraud that originated in Southeast Asia, but has now become prevalent globally. The name stems from the scammers' method of dealing with their victims: similar to raising pigs, they first 'fatten' them by building trust, and then 'slaughter' them by swindling away all their money.

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