Pibexa review – 5 things you should know about Pibexa.com

Pibexa review – 5 things you should know about Pibexa.com

Beware! Pibexa is an offshore broker! Your investment may be at risk.

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Pibexa is a Forex brokerage registered in the Marshall Islands. There is supposedly a web-based trading platform provided and the required minimum deposit is the industry average of $250, however, the spread on EUR/USD is quite high at 3 pips and there is a surprisingly minimal range of trading options available.

Pibexa regulation & safety of funds

The corporate information shown on the website is a bit chaotic which is a worrisome sign from the start. We read that the brokerage is supposedly owned by a company registered in the Marshall Islands registered under the name Hello Technology LTD. Furthermore, there is a second company which figures as an owner, registered in Scotland under the name Capital Letter GmbH.

As was said above, the corporate information is quite chaotic. This is definitely not the first brokerage we encounter that is supposedly operating out of both an European Country and the Marshall Islands. We remind readers that brokerages in Scotland have to be licensed by the Financial Conduct Authority of the UK, however, we find no mention of a license and after running a check on the online registry of the financial watchdog we can safely conclude that Pibexa does not have an European license. We further highlight that the second company is obviously registered offshore. And no wonder since the Marshall Islands has become a top-destination for would-be scammers due to its very liberal laws regarding the registering of companies. The government does not even require for someone to be physically there in order to register a company. Such a loophole has surely been noticed by many ill-minded brokers and utilized.  It’s safe to assume that Pibexa, irrespective of its legitimacy, does not fall under any regulatory oversight whatsoever because the government of the Marshall Islands does not include Forex trading within its regulatory framework.  All in all, there is definitely much unwanted risk in trading with the brokerage.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. The FCA provides up to 85 000 pounds per person, while CySEC guarantees up to 20 000 euros.

Pibexa trading software

The MetaTrader 4 trading platform is not supported which is something we always consider a disadvantage since the MT4 is among the foremost trading terminals in Forex trading at the moment, close to 80 percent of users prefer it. The platform provides an advanced charting package, lots of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs). There is a web-based trading terminal available and we were unable to register for a demo account, however, what we saw was disappointing to say the least. The spread on EUR/USD is twice the industry average and highly unfavorable in our view and the brokerage it appears does not offer a very wide range of trading options which is something we always consider an advantage. On top of, having in mind the lack of regulatory oversight, we are inclined to suspect that Pibexa may be involved in foul play and we always recommend to readers not to risk it and steer clear from such offers.

Pibexa deposit/withdrawal methods and fees

We were unable to uncover that the available payment methods are for potential clients of the brokerage. Usually in Forex trading traders may deposit or withdraw via the standard Visa and MasterCard, as well as bank wire and popular and preferred by traders e-wallets such as WebMoney, Skrill or Neteller.

We did not find any stated withdrawal fees either, however, dealing with unregulated brokerage we may never be sure whether they wont charge unexpected fees once the clients have deposited their funds.  There are also withdrawal conditions pertaining to accounts that have taken advantage of the bonus promotion. A trader has to achieve a certain trading volume in order to be eligible for withdrawal which is purposefully excessive in order to impede any trader from actually receiving his money. Legitimate brokerage which are regulated in Europe do not offer such promotions and even if they do, the information regarding potential withdrawal requirements is always presented straight-forward on the website, not hidden away in the terms and conditions.

Such website are also the reason we advise traders to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer

How does the scam work?

Unfortunately, the possibility of a scam looms over almost every trade in Forex, especially if you are dealing with an unregulated brokerage. That is why we believe traders should be acquainted with the methods of a scam. Here is how it would typically go about:

Through clicking an ad with promises for fast money, you will be redirected to a website such as  Bitcoin Evolution or Crypto Cash where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The motive here is quite straightforward – traders have a limited time window for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing this crucial period and, along the way, losing any chance you might have of getting the money back.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. Furthermore, due to the high instances of fraud – both Visa and MasterCard have decided to sidestep scammers as best they can in Forex trading. The first thing we have seen so far is that MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

Rich Snippet Data
Review Date
Reviewed Broker
Pibexa
Broker Rating
1.11star1stargraygraygray

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15 Comments

  1. i try sent the email to company .. not answer me. why

  2. I’m a pibexa victim too. they call you and show you rising profits on your profile but they wont let you withdrawal. Hope VISA will help me.

    1. Soy una víctima de pibexa y no se que hacer en este caso espero visa me pueda ayudar que debo hacer
      ——————————-
      I am a victim of pibexa and I do not know what to do in this case I hope visa can help me what should I do

  3. I am also victim of pibexa this company is full of Fraud
    When you wants to withdraw your money its can’t do
    Infant they said deposits more money other wise your
    Balance becomes zero this company is fraud no one trusts them

    1. I am also a pibexa victim have you had any advice as what to do

      1. Hi Susan hope you are doing good I give advice not to invest more money and also trying to withdraw which profit you can gain good luck do not trust them any more

    2. Bien un estafado mas, Por PIBEXA, 3.500€. Yo realizo la retirada de mi cuenta.Porque observo que solo opera con mi dinero los dias que la broker le da la gana. Me dice que ella no opera todo los dias, le recuerdo que ese fue el requisito, que quedamos para mi segundo ingreso de 2000€. Yo realizo la retirada, a traves de su web. La broker rechaza la retirada alegando que precisa tiempo porque mi dinero esta en una inversion mas grande. Contacto con ella, y salimos mal. Yo consigo retirar 250 €. Pero la broker bloquea la retirada y me dice que no va a cerrar mi cuenta. Se han tirado un mes pidiendome que rellene un documento de retirada, primero me manda un documento de work, que me niego a firma la retirada, despues uno con el anagrama de PIBEXA, y pasada las Vacaciones, me han quitado el acceso a mi cuenta.A los dos meses , no solo mi cuenta no existe, sino que me han quitado el acceso.
      La denuncia me cuesta, el dinero que tengo que tenia que recuperar o mas.

      Solo hay una soluccion formar un grupo y denunciarlo juntos, si somo capaces de juntarnos 10 personas. O si existiera ya ese grupo podre unirme. Gracias

      ——————————-

      Well one more scammed, For PIBEXA, € 3,500. I make the withdrawal from my account, because I observe that it only operates with my money on the days that the broker feels like it. She tells me that she does not operate every day, I remind her that that was the requirement, that we stayed for my second income of € 2000. I make the withdrawal, through your website. The broker rejects the withdrawal claiming that it takes time because my money is in a larger investment. Contact her, and we go wrong. I manage to withdraw € 250. But the broker blocks the withdrawal and tells me that it will not close my account. They have spent a month asking me to fill out a withdrawal document, first they send me a work document, which I refuse to sign the withdrawal, then one with the GDPEXA anagram, and after the Holidays, they have taken away my access to my account After two months, not only did my account not exist, but my access was taken away.
      The complaint costs me the money that I have to recover or more.

      There is only one solution to form a group and report it together, if we are able to get 10 people together. Or if that group already exists, I can join. Thank you

      1. Gerardo Agostinelli

        hi Fernando I agree lets form a group

      2. I am also with you it’s make a group report this company

        1. How do I join this group people? need to take action against this company and recover our funds

      3. Hi I’m also a victim of Pibexa l came across the same problem. Now I am stuck we have to form that group and fight for our money

      4. i would like to join the group as well
        i was scammed 1500 euros
        please advise how to join a group

  4. Gerardo Agostinelli

    I have been scammed as of today I have not been able to reach anyone at pibexa
    not sure what to do if anybody as any idea lets do something all together

    its a sad day

  5. Me too I was try chargeback with my bank

  6. samusundar balasundaram

    Guys i am a new victim , if there is a group to raise legal action against them i am happy to join they refuse withdrawal and asking more money for withdrawal these kind of companies should be put behind the bars for cheating public funds

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