Pelliron Forex Broker

Pelliron Review SummaryFounded2016Registered Country/RegionSaint Vincent and the GrenadinesRegulationUnregulatedMarket InstrumentsForex, Commodities and StocksDemo Account❌Leverage1:100EUR/USD Spread3 pipsTrading PlatformMT5Min Deposit$5 000Customer SupportTel: +44 2032906161Email: info@pelliron.comRegistered address: First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, VC0100, Saint Vincent and the GrenadinesBusiness address: 160 London Road, Barking, London IG11 8BB, United KingdomRegional RestrictionThe United States Registered in Saint Vincent and the Grenadines in 2016, Pelliron serves as a financial brokerage firm, offering a range of trading options including Forex, Commodities, and Stocks through the MT5 trading platform. The company demands a significantly high minimum deposit of $5,000 and provides leverage up to 1:100. It's worth noting that this broker lacks legal regulation from any financial authorities.Pros and ConsPros Cons MT5 trading platformNo regulationPopular payment optionsNo demo accountsWide spreadsHigh minimum deposit ($5,000)US clients are not allowedIs Pelliron Legit? Pelliron lacks a legal regulatory license and the company does not claim any association with any regulatory authorities. Therefore, you are advised not to consider this broker as you may risk losing all your assets to fraud.What Can I Trade on Pelliron? Pelliron only offers three classes of tradable instruments: Forex, Stocks and Commodities. Stocks: Pelliron offers stocks on major US indices: on the New York Stock Exchange (NYSE) and the New York Mercantile Exchange (NYMEX). Commodities:Agriculture: coffee, corn, cotton, sugar, soybeans, corn...Metals: platinum, silver, gold, aluminum, copper, palladium, nickel...Hydrocarbon group and energy carriers: oil, fuel oil, gas, coal and oil products.Tradable Instruments Supported Forex ✔Stocks✔Commodities✔Indices❌Cryptocurrencies❌Bonds❌Options❌ETFs❌Leverage Pelliron only mentions that it offers a leverage of 1:100, which is relatively high in the industry. While such high leverage can potentially lead to significant profits in a single trade, it also amplifies losses. Consequently, we do not recommend using such a high leverage with an unregulated broker like Pelliron.Spread The spreads at Pelliron depend on the financial instruments you choose. For instance, for EUR/USD Pairs trading, the spread is 3pips, which is significantly higher than the industry average and uncompetitive. Even more excessively, the spread for JP225 (Nikkei 225 Index) is 1200pips, which is utterly unacceptable. Therefore, it is advisable to avoid considering such an unreliable broker.Trading Platform Pelliron offers access to MetaTrader 5, an industry standard platform known for its high-tech indicators, charting tools, and other useful features. It can be accessed through PC, web, and mobile devices (iOS and Android). However, trading platforms provided by unregulated brokers have a high potential to be manipulated and pose a threat to your assets.Trading PlatformSupported Available Devices Suitable forMT5✔iOS, Android, Windows, Web, Android Tablet, Mac OSExperienced tradersMT4❌/BeginnersDeposit and Withdrawal Pelliron supports payments via bank transfers, bank cards, and e-currencies. However, they fail to disclose the fees associated with deposits and withdrawals.