English

PILOTFX Forex broker specializes in providing foreign exchange trading services, the company's official website http://lh.pilot-fx.c..., the company's legitimate regulatory information New ZealandFSPRFinancial Service Corporate to enhance the security of the company's address

PILOTFX Forex Broker

Basic Information

Registered Region

New Zealand

Operating Period

Company Name

PILOTFX

Abbreviation

PILOTFX

Company employee

Customer Service Email Address

service@pilot-fx.com

Company Website

2394749988,3252411891

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

Company profile

Note: PILOTFX's official site - http://www.pilot-fx.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. PILOTFX Review Summary Founded 5-10 years Registered Country/Region New Zealand Regulation FSPR (Suspicious Clone) Market Instruments Unavailable Trading Platforms MT4/5 (White Label) Customer Support QQ: 2394749988, 3252411891l; Email: service@pilot-fx.com Official Website Unavailable What is PILOTFX？ PILOTFX is a financial trading platform that was founded approximately 5-10 years ago and is registered in New Zealand. The broker asserts to be regulated by the Financial Service Providers Register (FSPR), but it's worth noting that there are concerns about it potentially being a suspicious clone of a legitimate company. Regarding trading specifics, PILOTFX allegedly utilizes MT4/5, a white-label offering of one of the most well-used and technically robust trading platforms in the industry. However, the specific information on market instruments that the platform offers is currently not available. Customer support can be reached via two QQ numbers and by email at service@pilot-fx.com. Despite these contact options, we cannot currently confirm the depth and reliability of their customer support service. A notable issue for potential users is the absence of an official website, which substantially limits access to the company's information and operational details. Due to this lack of transparency and the suspicions of being a 'clone firm,' potential clients should proceed with caution and ensure to conduct thorough due diligence. Pros and Cons Pros Cons Use MT4/5 Trading Platform Suspicious Clone Regulatory License Limited Customer Support Unavailable Official Website Pros: Use of MT4/5 Trading Platform: One of the major advantages of PILOTFX is its use of the popular MetaTrader 4/5 trading platforms. These platforms are favored by many traders due to their user-friendly interfaces and a wide array of trading and analytical features, which can cater to both new and seasoned traders. Cons: Suspicious Clone Regulatory License: The company claims to be regulated by the Financial Service Providers Register (FSPR), but there are concerns about it potentially being a clone firm, which can be a significant risk for investors. Limited Customer Support: While PILOTFX does provide contact details via QQ numbers and an email address, there is no information about the degree of efficiency and reliability of their customer support service, which could be a concern for potential users. Unavailable Official Website: The lack of an official website restricts access to vital information about the company's operations. This significant lapse in transparency can be disconcerting for potential users trying to evaluate the broker's legitimacy and services. Is PILOTFX safe or scam？ PILOTFX reports it is registered in New Zealand, under the Financial Service Providers Register (FSPR) with license number 120942. The FSPR is an official government record for businesses that provide financial services in New Zealand, aimed at increasing transparency for consumers. However, there is a note that PILOTFX is a suspicious clone, likely implying that the authenticity of PILOTFXs regulation is in question. Clone companies can sometimes use the details of a legitimate firm to scam consumers. This raises doubts about the regulatory security of PILOTFX. The licensed institution is under the name of David Collier PIKE. The effective date of the license was April 3, 2011. PILOTFXs contacts, as provided, are an email address of mark@gregan.co.nz and a phone number +64 9 299 3100. The address of the licensed institution is Level 1, 6 Mitchelson Street, Ellerslie, 1051, New Zealand. Nonetheless, crucial details such as the expiry date of the license and the official website of the licensed institution are missing, adding to the uncertainty around PILOTFXs regulatory status. Given these details, potential clients of PILOTFX should be aware of the potential risks, and conduct a thorough investigation before making a commitment. The indication of PILOTFX being a suspicious clone particularly warrants additional caution and scrutiny. PILOTFX's reputation appears to be another area of potential concern. There are customer reviews indicating difficulties related to funds withdrawal, with some even suggesting the platform may engage in scam-like activities. These complaints, combined with existing concerns about the firm's regulation and transparency, lower the trust score considerably. Users relying on the broker's withdrawal process can face potential disruptions and accountability issues. Therefore, potential clients should approach PILOTFX with caution until these issues are fully addressed. It is always advisable to browse through the experiences of other users and investigate reviews on trusted platforms. Such user reviews can provide necessary insights into the operation of such platforms, which can be crucial for due diligence and informed decision-making. Trading Platforms PILOTFX offers its users access to MetaTrader 4 and MetaTrader 5 (MT4/5) platforms, but these are white-label versions. A white-label product or solution is one that is manufactured or provided by one company but rebranded and resold by another company. In the case of PILOTFX, they offer a white-label version of the MT4/5 platforms. The MT4/5 platforms are renowned for offering a full suite of trading tools, comprehensive charting options, and support for various types of orders. These platforms are also well-regarded for facilitating automated trading through Expert Advisors (EAs). However, one significant thing to note about white-label platforms is that the broker using them might not have full control over them, as they are essentially renting the platform from a provider. This could impact the broker's ability to customize the platform or resolve technical issues promptly. Moreover, the identification result indicates PILOTFX's MT4/5 platform is a white-label offering, and this might pose some risks as stated. In many cases, white-label brokers are unregulated and lack formal training, potentially leading to a higher risk for traders. Additionally, it's suggested that white-label brokers might act as a counterparty to all client trading positions. ⚠️ Attention! The recent concerns around the operational transparency and regulatory authenticity of PILOTFX appear to persist, as a recent on-site inspection conducted by an independent inspection team revealed additional anomalies. According to the regulatory information, PILOTFX's office should be located at 151 Queen Street, Auckland Central, Auckland, 1010, New Zealand. However, upon visiting the prescribed address, the inspection team found no evidence of PILOTFX's presence. The team located the mentioned office building, which was described as large, modern, and new. Yet, despite thorough investigation, the team did not find PILOTFX's name on the building's directory or signpost. The regulatory information did not include details on the specific floor where PILOTFX's office should be located, and without an on-site reception, the inspection team could not acquire further information about the broker's presence in the building. Therefore, the inspection concluded that PILOTFX's office could not be identified at the regulatory address in Auckland, New Zealand. This, coupled with their reported absence of valid regulation and the suspicion of PILOTFX being a “clone firm,” raises significant concerns about the platform's credibility and legitimacy. Potential clients and investors are urged to exercise utmost caution when dealing with PILOTFX. Conclusion PILOTFX, reportedly based in New Zealand, presents several concerns. This broker uses the MT4/5 platform, but its regulatory authenticity is in question, with it possibly being a 'clone firm'. Customers have reported issues with fund withdrawal, and no sign of PILOTFX was found at the address registered to the company in New Zealand. With the additional absence of an official website, potential clients should proceed with extreme caution. Frequently Asked Questions (FAQs) Question: What trading platforms does PILOTFX use？ Answer: PILOTFX uses the MT4/5 trading platforms. Question: Is PILOTFX regulated？ Answer: PILOTFX claims to be regulated by the Financial Service Providers Register (FSPR), but there are concerns about it potentially being a clone firm, which raises doubts about its regulatory status. Question: How can I contact PILOTFX's customer support？ Answer: PILOTFX can be reached via two QQ numbers and by email at service@pilot-fx.com. Question: Have there been any complaints about PILOTFX from customers？ Answer: Yes, there have been customer reviews indicating difficulties with funds withdrawal, and some have even suggested the platform may be a scam. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

PILOTFX broker review

Is PILOTFX safe or scam

Rating Index

PilotFX Broker - Complete Information Guide

1. Broker Overview

　　PilotFX, founded in 2022, is a forex broker that operates primarily in the online trading sector. The company is registered in the Marshall Islands, a jurisdiction known for its lenient regulatory framework and tax advantages. PilotFX is a private entity, which means it is not publicly traded on any stock exchange.

　　The broker claims to serve a diverse range of clients, including retail traders and institutional investors, offering them access to various financial markets. Despite being a relatively new player in the market, PilotFX promotes itself as a provider of trading services that encompass CFDs, forex, and commodities.

　　Throughout its brief history, PilotFX has faced scrutiny and skepticism regarding its legitimacy and operational practices. The broker's development has included the introduction of various trading packages, but it has also been marred by allegations of fraudulent activities and customer complaints about withdrawal difficulties. The business model focuses on providing retail forex trading services, but there are concerns about the transparency and reliability of its operations.

　　In summary, while PilotFX markets itself as a comprehensive trading platform, potential clients should be cautious and conduct thorough research before engaging with this broker.

2. Regulatory and Compliance Information

　　PilotFX operates without regulation from any major financial authority, which raises significant concerns about the safety of client funds. The only form of oversight it claims to have is from the Marshall Islands Financial Services Commission (FSC). However, the FSC is often criticized for being a weak regulator that does not provide adequate protection for investors.

　　As it stands, PilotFX does not hold any licenses from reputable regulatory bodies, which is a major red flag for potential investors. There are no details available regarding specific regulatory numbers or the scope of any licenses, as the broker appears to operate under a cloud of suspicion.

　　Client funds are reportedly not segregated, meaning they may be mixed with the company's operational funds, which increases the risk of loss in case of insolvency. Furthermore, there is no information on whether PilotFX participates in any investor compensation schemes, which provide a safety net for clients in the event of a broker's failure.

　　The broker claims to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, but the lack of regulatory oversight makes it difficult to ascertain the effectiveness of these policies. Overall, the absence of credible regulation and transparency in operations significantly undermines the trustworthiness of PilotFX.

3. Trading Products and Services

　　PilotFX offers a range of trading products across various asset classes. The broker provides access to forex currency pairs, with a notable selection of major and minor pairs available for trading. The exact number of currency pairs is not specified, but it is common for brokers in this sector to offer a comprehensive suite.

　　In addition to forex, PilotFX also claims to provide CFD products that include indices, commodities, and cryptocurrencies. However, detailed information regarding the specific categories of CFDs offered is limited. The broker appears to update its product offerings periodically, but the frequency and specifics of these updates are not disclosed.

　　PilotFX primarily focuses on retail trading services, catering to individual traders looking to participate in the forex market. There is no indication that the broker provides institutional services or any white-label solutions. Overall, while PilotFX markets itself as a versatile trading platform, potential clients should verify the actual availability of products and their respective trading conditions before opening an account.

4. Trading Platforms and Technology

　　PilotFX provides its clients with access to the MetaTrader 4 and MetaTrader 5 trading platforms. These platforms are widely regarded in the trading community for their user-friendly interfaces and advanced trading features. However, it should be noted that PilotFX offers white-label versions of these platforms, which might limit customization and technical support compared to brokers that operate their own proprietary platforms.

　　The broker also features a web-based trading platform, which is accessible from various devices. However, reviews suggest that the platform lacks some user-friendly features and may not be as robust as those offered by more established brokers.

　　Mobile trading is supported, with applications available on both iOS and Android platforms, allowing traders to engage in the markets on the go. The execution model remains unclear, but there are indications that PilotFX may employ a Market Making model, which can introduce conflicts of interest.

　　The broker's technology infrastructure and server locations are not explicitly detailed in the available information, which raises concerns about the reliability and speed of trade execution. Additionally, there is no mention of API access or support for automated trading strategies, which are critical for many professional traders.

5. Account Types and Trading Conditions

　　PilotFX offers a variety of account types, including a standard account that requires a minimum deposit of $100. The trading conditions for this account include high spreads, which can significantly affect trading profitability.

　　For more experienced traders, PilotFX may provide access to advanced account types, including VIP or professional accounts, although specific details about these accounts are not readily available.

　　There is also mention of Islamic accounts, catering to clients who require trading conditions compliant with Sharia law, but further specifics are lacking.

　　The broker allows for a minimum trading size, which is standard across the industry, although the exact figures are not detailed. Leverage options are available, reportedly up to 1:500, which can amplify both potential gains and losses.

　　PilotFX does not provide clear information on its overnight fees or how they are calculated, which is essential for traders who hold positions overnight.

6. Funding Management

　　PilotFX supports a variety of deposit methods, including bank transfers, credit cards, and e-wallets such as Skrill. The minimum deposit requirement varies depending on the account type, with the standard account starting at $100.

　　Deposits are generally processed quickly, but specific timelines are not provided. There are no stated deposit fees, making it potentially cost-effective for clients looking to fund their accounts.

　　Withdrawal methods are similar to those for deposits, but there are restrictions in place. Withdrawals must be made using the same method as the deposit, which can complicate the process for clients. Additionally, many users have reported difficulties in withdrawing their funds, with some even alleging that the broker employs tactics to delay or deny withdrawals.

　　Withdrawal processing times are not clearly defined, and there are indications that fees may apply, particularly for certain withdrawal methods. The lack of transparency surrounding withdrawal policies has led to numerous complaints from former clients, further highlighting the risks associated with trading with PilotFX.

7. Customer Support and Educational Resources

　　PilotFX offers customer support through various channels, including email and telephone. However, the absence of a live chat feature may limit the immediacy of assistance for clients requiring urgent support.

　　The broker claims to provide support in multiple languages, although the specifics of the languages offered are not disclosed.

　　In terms of educational resources, PilotFX appears to offer limited options. There are mentions of webinars, tutorials, and market analysis services, but detailed information regarding the types of educational content available is scarce.

　　Additionally, traders can expect to receive daily market analysis, news updates, and research reports, which can be beneficial for informed trading decisions. However, the overall quality and depth of these resources remain uncertain.

8. Regional Coverage and Restrictions

　　PilotFX primarily targets clients in various regions, but specific details about its major service markets are not explicitly mentioned. The broker does not provide comprehensive information regarding its regional office distribution, which can affect client accessibility and support.

　　Importantly, there are countries from which PilotFX does not accept clients, although these countries are not clearly identified in the available information. This lack of transparency can be a concern for potential clients, as it may limit their ability to engage with the broker based on their geographical location.

　　Furthermore, any special restrictions or regulatory limitations that apply to specific regions are not disclosed, which could pose risks for traders in jurisdictions with strict financial regulations.

　　In conclusion, while PilotFX presents itself as a forex broker offering a variety of trading services, the lack of regulation, transparency, and significant customer complaints raise serious concerns about its reliability and trustworthiness. Potential clients are strongly advised to conduct thorough research and consider other reputable brokers before making any financial commitments.

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