PAYBIS Forex Broker

Paybis Broker - Complete Information Guide

1. Broker Overview

Company Name and Establishment Date: Paybis was founded in 2014 by Inokenty Isers, Konstantine Vasilenko, and Artur Markevich.

Headquarters Location and Main Offices: The company is headquartered in Glasgow, Scotland, with additional offices located in London, Edinburgh, and Riga.

Company Nature: Paybis operates as a private entity, focusing on cryptocurrency transactions.

Primary Markets and Clientele: Paybis serves a diverse clientele, including retail traders and businesses, across over 180 countries. Its services are particularly popular among individuals looking to easily buy and sell cryptocurrencies.

Company Development and Milestones: Since its inception, Paybis has grown significantly, processing over $2 billion in transactions. It has established a reputation for reliability and user-friendliness, becoming a preferred platform for cryptocurrency transactions.

Group Relationships: Paybis operates independently but has formed partnerships with various financial service providers to enhance its offerings.

Business Model Overview: Paybis primarily operates as a retail cryptocurrency exchange, allowing users to buy and sell digital currencies using fiat. It also provides liquidity services for fintech businesses, facilitating cryptocurrency transactions for various clients.

2. Regulatory and Compliance Information

Main Regulatory Authorities: Paybis is registered with the Financial Conduct Authority (FCA) in the UK and the Financial Crimes Enforcement Network (FinCEN) in the United States.

Regulatory Numbers: The FCA registration number for Paybis is 928013, and its FinCEN registration number is 31000175037491.

Validity and Scope of Regulatory Licenses: Paybis holds a temporary registration for crypto-assets with the FCA, with a permanent registration expected upon meeting all regulatory requirements.

Legal Entities in Different Regions: Paybis operates under different legal entities depending on the region, including its registration in Latvia.

Client Fund Segregation Policy: Paybis maintains a non-custodial model, meaning user funds are not stored on the platform but sent directly to users' wallets, minimizing risks associated with potential breaches.

Investor Compensation Fund Participation: Paybis does not participate in an investor compensation fund, as it operates under a non-custodial model.

KYC and AML Compliance Measures: Paybis enforces strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, requiring users to verify their identity before engaging in transactions. This includes providing government-issued identification and proof of address.

3. Trading Products and Services

Number of Forex Currency Pairs and Major Varieties: Paybis offers a limited selection of cryptocurrency trading options, primarily focusing on major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).

CFD Product Categories: Paybis does not offer Contracts for Difference (CFDs) or other derivatives, focusing instead on direct cryptocurrency transactions.

Unique Products or Trading Varieties: The exchange provides a straightforward platform for buying and selling cryptocurrencies but lacks advanced trading features such as margin trading or futures.

Product Update Frequency and New Additions: Paybis regularly updates its offerings and supports a growing number of cryptocurrencies, with current support for over 80 different digital assets.

Retail Trading Services: Paybis facilitates retail trading by allowing users to purchase cryptocurrencies using various payment methods, including credit cards and bank transfers.

Institutional Client Services: While primarily focused on retail clients, Paybis also provides liquidity services for institutional clients, enabling them to incorporate cryptocurrency transactions into their operations.

White Label Solutions: Paybis offers white-label solutions for businesses looking to integrate cryptocurrency transactions, enhancing its service offerings.

Asset Management Services: Currently, Paybis does not provide asset management services, focusing instead on facilitating direct cryptocurrency transactions.

4. Trading Platform and Technology

MetaTrader 4/5 Support: Paybis does not support MetaTrader 4 or 5, as it operates a proprietary platform designed for simplicity and ease of use.

Proprietary Platform Details: Paybis features a user-friendly web-based platform that allows for quick transactions without the complexity often found in traditional trading platforms.

Web-Based Trading Platform: The Paybis platform is accessible via any web browser, providing a streamlined experience for users.

Mobile Application: Paybis offers a mobile app available for both iOS and Android, enabling users to manage their cryptocurrency transactions on the go.

Execution Model: Paybis operates on a non-custodial model, meaning that users retain control of their funds, which are sent directly to their wallets upon purchase.

Server Location and Technical Infrastructure: Paybis utilizes a robust technical infrastructure to ensure secure and efficient transactions, although specific details about server locations are not disclosed.

API Access and Automated Trading Support: Paybis provides API access for businesses looking to integrate cryptocurrency transactions into their services, but it does not support automated trading for retail users.

5. Account Types and Trading Conditions

Standard Account Conditions: Paybis requires a minimum deposit of $50, with trading fees varying based on payment methods. The platform does not charge deposit fees.

Advanced Account Types: Paybis does not offer multiple account tiers; all users operate under the same standard conditions, although verification levels may impact transaction limits.

Special Accounts: There are no specialized accounts such as Islamic or corporate accounts currently offered by Paybis.

Demo Account Policy: Paybis does not provide a demo account for users to practice trading.

Leverage Ratio Range: Paybis does not offer leverage on trades, as it focuses on direct cryptocurrency purchases.

Minimum Trade Size: The minimum trade size on Paybis is $1.99 for cryptocurrency purchases.

Overnight Fees Policy: Paybis does not charge overnight fees, as it operates on a non-custodial basis.

6. Fund Management

Supported Deposit Methods: Paybis supports various deposit methods, including credit cards, bank transfers, and e-wallets like Skrill and Neteller.

Minimum Deposit Requirements: The minimum deposit requirement for Paybis is $50, applicable across all account types.

Deposit Processing Times: Deposits via credit cards are typically processed within minutes, while bank transfers may take longer, depending on the financial institution.

Deposit Fees: Paybis does not charge deposit fees, but users should be aware of potential fees from their payment providers.

Withdrawal Methods and Limits: Paybis allows withdrawals through several methods, including bank transfers, Skrill, and Neteller, with limits varying based on the method chosen.

Withdrawal Processing Times: Withdrawals typically take one business day but may vary based on the payment method and bank processing times.

Withdrawal Fee Structure: Paybis does not charge withdrawal fees, but network fees may apply for blockchain transactions.

7. Customer Support and Educational Resources

Support Channels: Paybis offers customer support through multiple channels, including live chat, email, and a comprehensive FAQ section on its website.

Service Hours and Time Zone Coverage: Customer support is available 24/7, ensuring users can receive assistance at any time.

Multilingual Support: Paybis provides support in multiple languages, including English, Spanish, Russian, and Arabic, catering to a global audience.

Educational Resource Types: Paybis offers various educational resources, including guides, tutorials, and market analysis to help users navigate the cryptocurrency landscape.

Market Analysis Services: Paybis provides users with access to market news and updates, enhancing their trading knowledge and decision-making.

Trading Tools: Paybis features essential trading tools, such as calculators for estimating transaction costs and potential returns.

8. Regional Coverage and Restrictions

Primary Service Markets: Paybis operates in over 180 countries, including the United States, Canada, and various European nations.

Regional Office Distribution: Paybis has offices located in the UK and Latvia, supporting its operations in Europe.

Countries/Regions Not Accepted: Paybis does not accept clients from certain regions, including New York, Hawaii, and a few others due to regulatory restrictions.

Special Limitation Notes: Users should verify their local regulations regarding cryptocurrency trading before signing up for Paybis, especially in jurisdictions with strict laws.

In conclusion, Paybis presents itself as a user-friendly cryptocurrency exchange focused on facilitating seamless transactions with a strong emphasis on security and regulatory compliance. While it may not cater to advanced trading needs, it remains a solid choice for newcomers and casual traders looking to buy and sell cryptocurrencies easily. With its straightforward interface and extensive payment options, Paybis continues to grow as a reputable player in the cryptocurrency market.