Beware! PBNCapital is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
PBNCapital is a unregulated broker owned by an offshore company, which was recently blacklisted by the financial regulator in Italy – the Commissione Nazionale per le Società e la Borsa (CONSOB).
Otherwise the broker offers over 40 currency pairs, some of which minor or exotic like USDCLP, USDCZK, USDCNH, USDHUF, USDMXN, USDNOK, USDPLN, USDSEK, USDTRY, USDSGD and USDZAR, as well as a variety of CFDs on indices, spot metals, agricultural and energy commodities, indices, stocks and even some crypto coins including Bitcoin, Bitcoin Cash, Dash, EOS, Ethereum, Ethereum Classic, IOTA, Litecoin, NEO, Tron, Monero, Ripple and Zcash
We tested the PBNCapital MetaTrader4 platform with a demo account and the benchmark EURUSD spread floated about 1,7 pips – 1,8 pips. Actually that is slightly higher than the levels traders would usually consider attractive.
The maximum leverage allowed by PBNCapital is 1:100.
PBNCapital regulation & safety of funds
PBNCapital is owned by the Marshall Islands based Capital Tech Ltd, and operated by Pbox Ltd, with a contact address in Bulgaria. Unfortunately both companies were recently blacklisted by the Commissione Nazionale per le Società e la Borsa (CONSOB) in Italy for targeting EU clients without authorization and another brand – PBN Markets.
Bear in mind that if you chose to trade with a unregulated broker, the risk to get scammed will be extremely high. That is because offshore, unregulated brokers like PBNCapital are basically unaccountable for the way they handle your money.
With a properly regulated broker on the other hand you can feel safe, because of the strict regulatory oversight. So, our advise is always to check the authenticity and the regulatory status of the broker before depositing any money.
The best known regulators in the industry include the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC). Besides, with a FCA broker your account will even be covered by an insurance policy of up to 85 000 GBP, which will be payed to you in case your broker happen to be insolvent.
PBNCapital deposit/withdrawal methods and fees
At PBNCapital you can deposit your money with a bank wire, credit cards like VISA and MasterCard, and a couple of e-wallets – QIWI Wallet, Botique, EcorePay and OKPay.
You should be aware however of the trading bonus policy of the broker. If you accept a trading bonus, you will have to meet a certain minimum trade volume requirement, before you will be allowed to withdraw any profits. And we are talking about ‘lots’ equal to your bonus divided by 4. For example, if you have received 400 USD bonus you will have to trade at least 100 lots or 10 000 000 USD within 60 days before you will be allowed to withdraw. Needless to say, but this might prove quite challenging even for a professional trader.
How does the scam work?
Scam scenarios usually start on the internet. And there are even specially designed portals like Crypto Revolt and Bitcoin Evolution, which we call robo scam websites, where people get hooked with some unrealistic offer for easy money with a minimal, “100% risk free” investment. And if leave your phone and e-mail, in a second you will be transferred to the website of a unregulated scam broker, where you will be offered a trading account in exchange of an initial deposit of about 250 USD.
And scammers will surely try to trick you to invest a larger sum. They may even manipulate your trading results so that it would seem like you are making spectacular profits with just 250 USD. And then you will receive a call form your “senior account manager”, who will professionally explain, that if you really want to make some real cash you will definitely have to invest at least 10 000 USD.
And many people do invest 10 000 USD or even more without realizing they have been scammed until the very moment they decide to withdraw some of their funds. Then all of a sudden all their withdraw requests are turned down on the grounds that they have not met some minimum trade volume requirement, possibly linked to a trading bonus. The pretext might certainly be different, but in the end it will all come to the same – scammers will not be giving you any money back.
What to do if scammed?
There is one way to get your deposit back, in case you have payed with a credit card like VISA and MasterCard, and it is to file for a charge back with your credit card provider. Fortunately both VISA and MasterCard now allow their customers to file for a charge back within 540 days after they have made the deposit.
And if somehow scammers have tricked you to tell them your credit card number or online banking password, immediately cancel your card and change the password.
And one piece of advise – do not accept the offers of the so called recovery agencies – they will not help you with your lost funds, but will simply ask you for some cash in advance and basically you will be scammed a second time.