Hey fellow DayTrading.com’ers.

I’m looking for some guidance about a trading company I’ve discover called panfxtrade. They have a very official looking website, are appaz regulated in Europe and their website mentions lots of traders that have made money.

Can I trust them? I tried looking ror them in the search bar on this site but can’t see anything about them,

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[James BarraModerator DayTrading.com Team]

Hi TOMH,

Thanks for your message.

We have not evaluated panfxtrade (https://www.panfxtrade.com/?a=home) in full but I have been doing some digging into the brand following your message.

Based on my findings, I would steer clear of this broker.

My concerns are as follows:

• Despite multiple claims on their website that they are “fully regulated”, I could not find specifics about the regulators they are authorized by.
• I could not find any information about who owns and manages the brand, a far cry from the transparency of established, trusted brokers.
• The website contains various typos and broken links, for example clicking the App Store and Google Play links just reloads the homepage.
• Pop ups telling readers about profits being made like “Christina Dela Cruz from Philippine just earned $7000” are likely used to encourage sign-ups and not a standard practice used by highly trusted brokers.
• The panfxtrade website contains information on products that don’t appear to exist, for example a “trading academy” I can’t find or access.
• The website references other companies and products that aren’t really related to online trading, for example “you only need a lender committed to taking the mystery out of the mortgage loan process! At Sure Standard 247 we understand!”

Overall, I’m not convinced panfxtrade is an established, regulated broker and recommend you consider DayTrading.com’s pick of the most trusted brokers.

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[Steve]

I wouldn’t touch this lot with a barge pole.

Something I noticed is that they say they are “fully regulated and governed by the European MiFID regulations” yet then they say “panfxtrade.com Forex Broker grants that wish with a 100% bonus on deposits”

Interesting given that providing retail traders with bonuses is generally prohibited by European MiFID regulations…

They don’t look legit to me.

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[TOMH]

Hey, wow, I didn’t realise all of those things, I will use another platform. Thanks.

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[Author]

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