PNP Forex Broker

Note: PNPs official site - http://www.pnpmarketfx.com/en/index.html is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. PNP Review Summary in 10 Points Founded 2-5 years Registered Country/Region Australia Regulation ASIC revoked Market Instruments Forex, Precious metals, Crude oil Demo Account Not disclosed Leverage Not disclosed EUR/USD Spread Start from 2.0 pips Trading Platforms MT4, Mobile App Minimum Deposit Not disclosed Customer Support Email, Address What is PNP？ PNP, with full name PNP Markets Limited, is an Australia-based global brokerage firm who offers Forex, Precious metals, Crude oil as its market instruments to traders. However, it is important to note PNP currently has a revoked ASIC (Australia Securities & Investment Commission) license with number 001279058 which raises concerns when trading. In the forthcoming sections, we intend to dissect and comprehensively evaluate this broker's features from diverse perspectives, delivering to you well-structured and user-friendly information. We encourage you to read further if you're intrigued. Wrapping up the article, a concise summation will be provided to allow a quick and thorough grasp of the broker's distinguishing traits. Pros & Cons Pros Cons • MT4 trading platforms • ASIC revoked • Multiple account types • Website dysfunctional • Lack of transparency • Limited customer support channels • Restricted in some countries • Limited info on payment methods/leverage/commissions • Negative reviews from their clients PNP is a platform which has both pros and cons to be considered when choosing it for your services. Among its positive points, stands out the usage of MT4 trading platforms and multiple account options, offering flexibility for diverse user needs. Although these aspects are commendable, it's worth noting that PNP's cons are significant. The website functionality appears to be impaired, creating potential barriers to usage. Furthermore, there is a noticeable lack of transparency within the platform's operations. Additionally, customer support channels are limited, potentially leading to issues when resolving user queries or problems. Restrictions on the platform's availability in certain countries, coupled with limited information regarding payment methods, leverage, and commissions, can also pose challenges for users. Most worryingly, the platform has received negative reviews from their clients. Therefore, it's recommended to carefully evaluate these aspects when making a decision about using PNP's services. Is PNP Safe or Scam？ When considering the safety of a brokerage like PNP or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage: Regulatory sight: The fact that its license no. 001279058 from the Australia Securities & Investment Commission (ASIC) has been revoked signals potential safety concerns when trading with them. In addition, the broker's official website is currently inaccessible, reinforcing the notion that they might have ceased operations. These factors collectively compound the risks associated with investing through this platform. User feedback: The existence of two reports on WikiFX about withdrawal difficulties should be seen as potential warning signs. Before deciding to engage with any broker or investment platform, it's advisable to perform detailed research and due diligence to avoid regrettable decisions. Security measures: So far we cannot find any security measures info on Internet for this broker. Ultimately, the decision of whether or not to trade with PNP is a personal one. You should weigh the risks and benefits carefully before making a decision. Market Instruments PNP provides a broad array of market instruments for its clientele. It caters to diverse trading interests by offering Forex, a market that allows for currency trading which is one of the largest and most liquid markets in the world. There are more than 40 tradable currency pair in the platform. Alongside this, PNP also provides precious metals, allowing traders to invest in commodities like gold, silver, platinum, and palladium that often act as a hedge during market volatility. Furthermore, with Crude oil on its instrument list, PNP affords its users the opportunity to trade and speculate on one of the most vital commodities globally. Accounts PNP presents an array of account types, catering to a wide spectrum of investors in the market. These include mini accounts for those beginning their investment journey, professional accounts for seasoned traders, institutional accounts for corporations and businesses, and money manager accounts tailored for financial professionals managing multiple portfolios. This selection ensures diverse needs of different clients can be met in the investment landscape. However, currently the specific information regarding minimum deposits for each account type isn't readily accessible online. As such, prospective investors are encouraged to directly contact the broker for detailed information. Spreads & Commissions PNPs pricing structure varies based on the chosen account type, presenting traders with the freedom to select the most suitable option. For example, those who opt for mini accounts are subject to fixed spreads, providing a level of certainty and stability in pricing. On the other hand, professional accounts offer the flexibility of floating spreads, which tend to fluctuate based on market conditions, adding a dynamic element to the trading process. Interestingly, as stated on their website, PNP MARKETS starts its average forex spread from 2.0 pips. However, it is pertinent to note that comprehensive information regarding their commission structure isn't publicly available. Hence, it is advisable for potential traders to directly contact PNP MARKETS to gather a holistic understanding of their pricing structure, enabling a more informed decision-making process regarding their investment strategy. Trading Platforms PNP MARKETS offers its clients a robust and dependable trading environment through the MetaTrader 4 (MT4) platform. Known for its comprehensive features, MT4 is among the most preferred platforms among investors worldwide. It offers clients real-time access to market charts with an integrated platform for technical analysis and direct trading, creating a seamless trading experience. Its wide use, particularly in the trading of precious metals, is evidenced by its adoption by more than 80% of brokerage firms and banks across thirty-plus countries. PNP MARKETS has further enhanced the accessibility of their trading services by offering a mobile application available for both Android and iOS operating systems. These mobile apps allow clients to conveniently monitor and execute trades on the go, ensuring they never miss a valuable trading opportunity. User Exposure on WikiFX On our website, you can see that total 2 reports of unable to withdraw on WikiFX which should be marked as red flag. We highly recommend all traders to meticulously scrutinize all available information before risking their hard-earned money. Our platform serves as an extensive information resource aimed at helping traders make informed decisions. If you unfortunately encounter any fraudulent activity by brokers or become a victim of such an incident, we strongly encourage you to report this in our 'Exposure' section. We highly value your input. Our expert team is committed to addressing these issues and will vigorously work towards establishing a resolution for such problematic situations. Customer Service PNP's customer support is limited to email and postal correspondence. Though ensuring structured communication, it may restrict real-time assistance and could potentially extend response times. Email: info@pnpmarketfx.com. Address: 1 342 Forest Rd Hurstville NSW 2220. Conclusion According to available information online, PNP is an Australia-based brokerage firm who offers Forex, Precious metals, Crude oil as market instruments to traders. However, the fact that its ASIC revoked regulatory status is an immediate red flag, as regulated brokers are subject to oversight and compliance with established financial regulations, providing clients with a level of assurance and protection. The lack of proper regulation and oversight increases the potential risks for traders, leaving them vulnerable to potentially fraudulent activities or misconduct. Additionally, an unfunctional website along with 2 exposures of unable to withdraw on WikiFX indicates a lack of professionalism and attention to details, which further erodes confidence in the company's ability to provide reliable and efficient services. As such, individuals considering PNP as their brokerage firm should exercise extreme and thoroughly research alternative, regulated options that prioritize transparency, security, and accountability. Frequently Asked Questions (FAQs) Q 1: Is PNP regulated？ A 1: No. It has been verified that this broker is currently under ASIC revoked condition. Q 2: What kind of trading instruments does PNP offer？ A 2: PNP is an AUSTRALIA-based brokerage firm offers Forex, Precious metals, Crude oil as market instruments to traders. Q 3: Is PNP a good broker for beginners？ A3: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of the lack of transparency and reports of unable to withdraw. Q 4: Does PNP offer the industry leading MT4 & MT5？ A 4: Yes, it offers MT4 platform. Q 5: At PNP, are there any regional restrictions for traders？ A 5: Yes. PNP has its business scope covers Asia, Europe and Oceania. However, the company does not accept account opening application submitted by any user from such countries as the USA and Japan. 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.