From a company that describes itself as a manifestation of trading democratized, we’d expect more than just false regulatory claims. It’s not just that this firm lies about being internationally recognized as one of the first online brokers on the market. It’s the fabrications about their reliability and a number of public warnings issued against this unscrupulous financial services provider.
Known to operate under several similar domains, Pixpal Tech is also known as Pixpal Pro. The latter is their alternative domain name that has been blacklisted as unlicensed by quite influencing and reputable regulators. This Pixpal Tech review delves into all the confusion and misleading information that the faux broker tries to use against their potential victims. So read on, as you deserve nothing but the raw truth about some of the most malicious, ongoing Forex scams in existence.
Something smells rotten with PixPal Tech, and we need to address it promptly. The website pixpal.tech is another deceptive site by Pix Point Consulting LTD. This Pix Point Consulting LTD, a so-called company is so notorious, the internet is ringing with warnings issued by countless financial regulators.
Take a look:
This kind of a reputation is very difficult to ignore. We believe that this is the main reason why the PixPal Tech website is locked behind a login form. The swindlers are trying to block anybody but their chosen victims from accessing the platform.
All the information you can find about the company PixPal Tech company is completely made up. The address is fake, as well as the alleged license issued by the FCS Belize. Of course, FCS has promptly issued a warning about this exact issue.
Additionally, the people who are behind Pix Pal Consulting LTD, and by extension PixPal Tech, had the audacity to implicate FBS Markets Inc. Needless to say, these two companies have no affiliation whatsoever. PixPal Tech is simply trying to pass as a legitimate broker no matter the damage they do to a respectable company in the process.
The UK’s FCA is one of the strictest financial regulators today. The FCA actively monitors more than 51 000 companies for fraudulent behavior. It’s no wonder they caught wind of the PixPal Tech Scam so quickly, based on their fake UK address.
We usually check the databases of many different regulatory bodies before we start accusing anybody for being a scammer. With PixPal Tech wherever we looked, we found only one scam warning after another. As it stands, PixPal Tech has no license with the FCA, BaFIN, CySEC, FINMA or any other financial regulator for that matter.
The current average rating that Pixpal Tech has on TrustPilot doesn’t clearly point out anything specific about this suspicious website. After all, it was calculated from a total of five posted reviews. However, we’re sure that in time more negative reviews will follow. Be on the lookout for these, as they can reveal a lot of valuable information about potential risks of getting involved with this shady financial services provider. Here’s what one disappointed customer has to say:
“Stay away of these burglars!Don’t invest,you will never get your money back. […] I try to withdraw my deposit and some money i got by trading and they just frozen my account and deleted all rights to get in…”
It’s only been a little less than a year, but this fraudulent entity has been collecting victims back and forth. With a clear preference for the EEA traders, Pixpal Tech has managed to scam a concerning number of traders from these countries:
We can expect their operations to spread to other areas and start the wrongdoings on a global scale if an authorized institution doesn’t stand in their way. Even if you aren’t a retail trader from any of the countries above, we implore you to be extremely careful.
Especially if someday you get contacted by a suspiciously affectionate and friendly sales agent that’s trying to sell you something that just sounds too good to be true. There just might be another Pixpal Tech scam agent, attempting to pull you into an investment sham that could cost you a whole fortune.
Don’t get ahead of yourself by thinking you’ll just read all about the Pixpal Tech platform directly from the website. As if their terminal was something precious they have to keep away from the world, accessing it is harder than building your own! Although we sent a request for an account opening, we couldn’t immediately be blessed with one.
If you want to download the app to your mobile device, you can do so from the Apple and Google Stores respectively. However, if you click on the links that should take you to the right app in the store, you will get to My Trading app developed by UTIP Technologies, a software developing company. Does that mean that Pixpal Tech also lied about providing their own proprietary trading app for mobile devices?!
At this point, the lack of transparency has altogether stopped shocking us. Pixpal Tech doesn’t consider it obligatory to present reliable information about the most crucial aspects of trading and the prices of their services. Until you’re officially approved to join their website, you don’t even get to find out about the leverage, spreads, commissions and pricing.
You’re practically delving into the unknown with this one. The Client Agreement document or any other of the legal texts won’t help you either. They’re so vague and confusing that they’re useless.
Regulated brokers who work hard on publishing all the information that might interest clients about their conduct, always have the relevant data on their website. Pixpal Tech doesn’t even bother mentioning the account types… if there are any to begin with. The website only states that the minimum deposit requirement for the standard account is 500$.
Opening any type of account with Pixpal Tech is a real pain. Eventually, we didn’t get to register an account at all. It seems all our troubles and several attempts were just so we could send an application. Pixpal Tech never responded to our email with clear instructions on how to complete the registration.
Because that was how our efforts ended, we consider all tries for the account opening to be fruitless. It remains unverifiable if a Demo account is available or not. We’d expect it to be another one of the advertised features that don’t really exist, just serve as a bait for attracting fresh, new victims.
If in need of assistance from the Pixpal Tech support team, do not expect them to come to your aid. The website encourages traders to contact them right away if they have issues, but the ways to reach the support service are unreliable.
The only communication channels are the online form, a generic email and a phone number that probably no one ever answers. From what the Pixpal Tech scam website shows, you should complete the form and someone will get in touch with you shortly. We could estimate the waiting time to easily be forever.
Pixpal Tech is an outright scam, and nothing more. There are numerous warnings abound, issued by many different financial regulators about both Pixpal Tech and their parent company, Pix Point Consulting LTD.
These swindlers have used every lie in the book to try and fool as many people as they could. They have counterfeited a license from the Belizean regulator, implicated an unaffiliated legitimate brokerage, invented a fake corporate address… All this in an attempt to evade the long arm of the law.
These professional fraudsters have managed to con an incredible number of people. If you find yourself among those defrauded by Pixpal Tech, or any other scam by Pix Point Consulting LTD, don’t be afraid to let your voice be heard. We would like to hear about your case, and our team of experts has a lot of experience in resolving problems like yours. You may contact us and book a free consultation through the Live Chat on our website.
Pixpal Tech mentions online form, email address and a phone number to be the communication ways with the support team.
Because we didn’t get any feedback from Pixpal Tech on how to properly open an account and verify it, we cannot confirm or deny if there’s an option for the Demo account, but we’re not overly optimistic about it
Chargeback process resolving oftentimes takes a while because the fraudsters do not intend on giving your money back. You should first seek from us professional advice on how to properly act.
The post PixPal Tech Review – The Wolf May Change Its Coat, But Not Its Nature appeared first on Global Fraud Protection.