While having quite a deceptive name, Pegaswiss is nothing but a bogus website. It’s created with the purpose of extorting funds, and once done, the website will vanish. We’ve seen it too many times before.
Read this detailed Pegaswiss review to avoid being the next victim of a financial swindler.
Pegaswiss claims to be a Pegaswiss Trading Services LLC brand registered in Saint Vincent and the Grenadines. Additionally, the company provided us with an address in Switzerland.
Since SVG only registers companies without licensing them, we turned to the FSA database first. To our surprise, the company owner wasn’t on the register, meaning it didn’t exist. Furthermore, we searched for Pegaswiss regulation with the Swiss authority, FINMA. Once again, our search hit the wall.
Since Switzerland is in the EEA zone, it complies with ESMA directives. According to one, the leverage for retail traders cannot exceed 1:30 due to high risks. With Pegaswiss, you can get up to 1:100, which further confirms our suspicions about this firm’s lack of authority approval.
To summarize, Pegaswiss broker is not licensed and should be avoided as such.
While still relatively new, pegaswiss.com is aggressive in marketing its services. That’s why we believe it’s essential to warn as many people as possible and ensure they won’t fall for the scam.
We cannot find much about the Pegaswiss trading platform from the obscure website presentation. The company listed several awards it allegedly earned for its trading software, including:
However, they only offer a basic WebTrader without any apps or special features. In fact, this browser-based solution cannot come near the advanced functionalities you’d get with MT4, MT5, or cTrader. Instead of offering you something stable and functional, Pegaswiss falsely claims to provide everything, from social trading to EAs. In fact, they offer nothing.
You can access five classes of trading instruments, those being:
It’s a solid range, but considering a lack of regulation, you’d better pass on it.
In addition to trading, the company claims to offer passive income through earning APY on crypto. Allegedly, you can get up to 14%. What’s more, they claim that you can access and withdraw your funds whenever you want, but without specifying penalties that you’ll pay for early withdrawals.
We weren’t able to find Pegaswiss account types. Instead, the company invites investors to open a “free account” and start trading within minutes.
It’s a common selling tactic where you believe you will be able to trade without funds. Yet, once you register, employees will call and ask for a minimum deposit from you. They will explain to you that free was your registration, while trading, of course, requires cash.
However, we don’t even know about the minimum amount as the website doesn’t share details. One more thing we’re missing is the Pegaswiss Demo account. Therefore, it’s clear that you have to stay away and find a licensed and transparent brokerage instead.
Finally, we checked for information about Pegaswiss’s withdrawal. As expected, we found nothing. No payment methods or legal documents would clarify the matter for us.
Since the firm is advertising crypto, we believe this is the only means of payment they accept. Once you pay through digital currencies, tracking your funds becomes more complex. Also, crypto is not subject to a chargeback procedure, unlike credit cards. If you want to get your money back, you will need to undergo a legal process to prove where your funds are.
Our honest advice is to never send crypto to unverified merchants. Instead, aim for traditional means of payment, such as bank or card transfer, as these are easier to trace and reverse.
If you’ve been dealing with Pegaswiss and cannot get your money back, it’s not the end. Global Fraud Protection has specialized CipherTrace crypto analysts who work on tracing transactions and assisting customers with legal procedures.
Don’t hesitate to report what happened. We’ll book a free consultation for you. There’s nothing you can lose but a lot of knowledge to gain!
Pegaswiss is not a legitimate brokerage. If you have already invested with the said firm, let us know, and we might be able to help once we hear your story.
No, Pegaswiss doesn’t offer its customers a risk-free Demo account.
The minimum deposit that Pegaswiss requires from its customers is not clearly defined.
Pegaswiss is not a legitimate brokerage. If you have already invested with the said firm, let us know, and we might be able to help once we hear your story.
No, Pegaswiss doesn’t offer its customers a risk-free Demo account.
The minimum deposit that Pegaswiss requires from its customers is not clearly defined.
The post Detailed Review of Pegaswiss Trading Fraud appeared first on Global Fraud Protection.
