While currently gone, Platin Markets broker left many in a financial hurdle. The company pretended to be licensed to provide FX and CFD trading services while stealing funds from inexperienced investors. All this only to vanish a few months later.
Read our detailed Platin Markets review and learn which steps to take to ensure a successful fund recovery.
Platin Markets claims to be a brand of Platin Services Ltd, registered in Scotland. However, when searching for an address, we found one in Ireland.
In addition, the broker has provided us with an alleged Platin Markets regulation from Lbrn.com. Whatever this website is, we can assure you that it’s not a license provider. In the UK, brokers operate under the local license of the Financial Conduct Authority, while Ireland has the Central Bank regulating the trading market.
Both of these countries belong to the EEA zone and follow ESMA rules regarding fund segregation, compensation fund, and leverage limits (1:30 for retail traders). On the other hand, Platin Markets displays 1:200 on the platform, while we’re unsure what their final limit is.
One big concern is the broker’s advert, “Do you want 99% of your trades to be successful trades?” Brokers cannot make such promises, and it’s considered misleading investors.
Of course, in case you’re involved with a scammer, you cannot count on the assistance of the Financial Ombudsman or compensation fund. You can, however, continue reading our review for more information. And if you have anything of value, feel free to share it with us.
Platin Markets claimed to be a UK-based trading brokerage regulated by a fictitious authority. In reality, the fraud aimed to scam as many customers before vanishing with their funds.
Platin Markets pretends to be authorized to provide financial services. The firm claims to operate under Lbrn.com. Upon checking the said site, we found nothing, as it currently cannot be reached.
Scam brokers often steal other brokers’ licenses or make up some to look credible. While trying to build Platin Markets’ reputation, this notorious lie only assured us that we’re on the track of another swindler lurking for innocent victims.
Our in-depth research yielded some results in finding Platin Markets trading scam victims. The majority of them come from the following countries:
The website is currently inactive, so getting a withdrawal through the account is impossible. Since regulators haven’t started investigating this scheme yet, your story can help us pressure them to begin.
Many scammers advertise their services through social media. You’ll notice that Google Ads, Instagram, and Facebook are flooded with “get-rich-quick” schemes. Once you click on such an ad, your details are sent to broker employees who can start their sales.
Note that these people are actual boiler-room agents with great knowledge of sales and pressure tactics. Before trusting them about anything, double-check to avoid being sorry later.
They can send you offers through Telegram, WhatsApp, or social media comments and DMs. The most popular medium is LinkedIn, which is considered a big business network. Firms build their credibility through LinkedIn presence, luring you to transfer your hard-earned money into their “expert hands.”
Surprisingly, Platin Markets’ trading platform choice is excellent. The firm offers MT4 and WebTrader.
MetaTrader 4 is the most popular software today, along with its successor, MT5. The platform has a large number of trading tools, features for in-depth analysis, and many more advantages. It also supports social trading and automated bots. The platform is available for both desktop and mobile devices.
WebTrader, on the other hand, is a simpler platform. It’s suitable for trading newbies who want to avoid all the features on MT4 before educating themselves about the basics.
While MT4 usually means something good, it’s not necessarily true with scammers. They can easily steal your funds and vanish without a trace.
As per the range of trading instruments, we’re not impressed. The company has the following on offer:
There are only four crypto coins, and indices are not available. It’s pretty limiting compared to the offer you could have with a legit broker that also offers increased fund safety.
Platin Markets Demo account is not available despite having a solid choice of software. The broker allows registration and platform overview but not risk-free trading.
It’s a typical thing with fraudulent sites. They don’t want you to see that they have nothing to offer, so they avoid letting you gain access to anything. Instead, they’ll pressure you for a minimum deposit, then more and more, all until you have nothing left.
The broker listed the following payment methods on its website:
However, numerous reviews indicate that Platin Markets’ withdrawal is nearly impossible. At first, the company prevented it by using malicious clauses, such as demanding those who receive a bonus to repay the sum plus the deposit 25 times.
At the moment, account access is forbidden, and victims cannot even submit a request for a payout. So, if you have unsettled debts with Platin Markets, let us know.
Global Fraud Protection has been in the business of helping defrauded customers for years. If you find yourself a victim of the Platin Markets scam, it’s not the end. We’ve encountered numerous people in the same situation.
Our work depends on clients’ stories. Therefore, don’t hesitate to share yours. Our chargeback experts will evaluate your case during a free consultation and prepare a detailed analysis of the steps you must take. Don’t give up!
Platin Markets is an unregulated trading brokerage to be avoided. If this financial swindler scammed you, let us know immediately.
Platin Markets requires an initial deposit of 250 EUR for trading newbies.
The platform is inactive, so any form of trading is impossible.
Platin Markets is an unregulated trading brokerage to be avoided. If this financial swindler scammed you, let us know immediately.
Platin Markets requires an initial deposit of 250 EUR for trading newbies.
The platform is inactive, so any form of trading is impossible.
The post Platin Markets Review – The Truth About The Fraud Broker appeared first on Global Fraud Protection.
