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What about PBFX Forex?

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IntroductionI found some information about the PBFX forex platform. Firstly, PBFX was founded in 2017 and has ch ...

I found some information about the PBFX forex platform. Firstly,Large foreign exchange trading platform PBFX was founded in 2017 and has changed its name to PBFX, which was previously known as ‘PBFX’ and ‘PRIBIZCO’. The company is said to hold a Vanuatu VFSC, an Australian ASIC AR licence and a New Zealand FSP financial services registration licence. However, these licences do not have FX qualifications, and the licence qualifications and ratings are low, with a security score of 40 and a risk scan showing 16 issues.

What about PBFX Forex?

There have been reports of PBFX holding regulatory licences that do not support the conduct of its FX brokerage business, meaning that while it may hold some form of licences, these do not cover the business activities it actually engages in. The regulatory effectiveness in this case is very limited and does not guarantee the safety of clients' funds.

In terms of user feedback, some users have reported problems when trading on the PBFX platform. For example, a user who traded on the platform had his profit deducted and his principal withdrawal request delayed. The first time the user deposited $3000 and made a profit of $200, the withdrawal process went smoothly. However, after a subsequent deposit of $6,000 and a profit of $1,000, the platform refused to withdraw the funds for various reasons and deducted the profit. In addition, the user's request for withdrawal of the principal has been delayed for more than a month.

Based on this information, it is clear that there are some problems with the PBFX platform, including insufficient licence qualification and user service issues. Therefore, if you are considering using PBFX for forex trading, you are advised to exercise caution and fully understand the associated risks. Meanwhile, as it is illegal for mainland Chinese residents to participate in FX margin trading through online platforms, you are advised to comply with local laws and regulations.

Before trading, please check the broker in the FTI app; if you encounter any problems, you can file a complaint for help.

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