With each passing day, these offshore scammers are getting more sophisticated. Don’t mistake this Pioneer Markets broker for a legitimate provider, it’s far from it. Pioneer Markets is trying to present itself as a rather innovative forex broker. That is evident from its brand name and yet, it fails.
And of course, you guessed it, they are an unregulated and unlicensed offshore company. With no further ado, read this Pioneer Markets broker review to find out more about this poorly executed investment scam.
|Headquarters||St. Vincent and Grenadines|
|Broker Type||Forex, crypto, CFD|
Pioneer Markets Regulation and Security
Firstly, we shall discuss the masked financial market crusader’s legal status. As you know, Pioneer Markets is an enigma. Only the address was disclosed, not the owner. Right off the bat, Pioneer Markets seems rather suspicious. It operates in St. Vincent and the Grenadines.
In other words, it operates from a scam broker’s paradise, since there is no regulation they need to follow or any authority they have to report to. That is more than enough to know they are a major red flag you should stay away from if you want to keep your money.
Trading Software Used by Pioneer Markets
This may be surprising, but this anonymous broker doesn’t provide a real trading platform, they only claim they have a web trader.
There is no demo account so you cannot take a look at their platform before you actually commit and register on their website.
Funny enough, even after registering an account, the trading software is nowhere to be found so it is safe to say that Pioneer Markets’ scam broker has no trading platform at all. This should only be further proof that you are dealing with a low-effort scam targeting people without enough experience and knowledge about trading.
Account Types Available at Pioneer Markets
When it comes to trading accounts, there is of course a variety of them. In comparison to many other fraudulent brokers alike, they are only asking for $500. Again, a regulated broker will ask as little as $10 for your deposit. Here is the list of account types available:
- Basic – $500
- Silver – $10,000
- Gold – $100,000
- Platinum – $250,000
- Diamond – $500,00
- Millionaire Club – $1,000,000
Deposit and Withdrawal Method
When it comes to payment methods, Pioneer Markets accepts only credit cards and wire transfers. Pretty unsophisticated if you ask us. Regulated brokers would actually give you plenty of options to choose from.
On top of that, $500 is too much to deposit considering they are nothing more than just another scam. So, in case you have been scammed by them or any other fraudster alike, getting your money back is possible! Remember to always think twice before depositing your money.
Offshore Brokers’ Tactic to Steal Your Money
Being lured by these scam brokers is not as hard as it may seem to some people. They post various ads all over the internet and you can easily come across a few. The stories you can read in them are more or less believable but in the world where many actually made a fortune by investing it becomes quite convincing that easy earnings are within your reach.
Be sure, if you give any of your contacts to one of these scammers, they will start either e-mailing or calling you in order to get you to invest. In case you agree to make an initial investment, they will start persuading you to invest more and more.
Suggested Forex Brokers
After this Pioneer Markets broker review, you may be feeling discouraged to start investing altogether. Of course, it’s only logical that you don’t want to lose your assets to some scam.
In order to achieve your desired financial freedom all you need to do is choose a broker that has not violated any terms and conditions as this one did.
Here, we will provide you with a list of brokers we recommend that are actually reliable.
We also included some of the most important information you may need such as minimum deposit, website, and of course the rating of the broker so you can be sure you are choosing the right path to your financial independence.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Pioneer Markets Summary
Pioneer Markets is an offshore broker that is trying to lure in its clients with a legit-looking website. But in reality, they are just an unregulated company claiming to follow legal guidelines and offering online financial services.
The minimum required deposit is $500 even for beginners and there is no demo account for you to try. These are all red flags and should indicate you are dealing with a scam.
As for the trading platform, it’s safe to say they have none, as even after signing up you cannot access it.
In conclusion, we recommend you stay away from this fraudster and work with some of the well-recognized and reliable brokers we recommended.
FAQs About Pioneer Markets Broker
Is Pioneer Markets Regulated?
No, Pioneer Markets is an unregulated, scam broker just trying to steal your hard-earned money.
What Are The Funding Methods for Pioneer Markets?
Funding methods this broker allows are via credit or debit card and wire transfers.
What is the Minimum Deposit for Pioneer Markets?
The minimum deposit they require is $500 which is a huge amount of money, especially for a beginner trader.