PNL Advanced website might give the illusion of legitimacy, but appearances can be deceiving. That is a fact! This fake firm lacks credibility and any proof of a legitimate forex license. Its anonymity only adds to the list of red flags.
If you’re thinking about trading FX pairs, indices, and shares under the professional conditions advertised, it’s time for a reality check. Before you jump in, read this PNL Advanced review to gain a clearer understanding of this entity.
PNL Advanced Compliance and Safety
Broker PNL Advanced operates anonymously, leaving us in the dark about its owner, legal jurisdiction, and trading license – a big red flag.
We checked with top financial regulators, including the FCA, ASIC, BaFin, and others, but found no evidence of any regulation. Legit brokers are required to hold at least one license, which comes with strict requirements such as minimum capital, fund segregation, and secure liquidity providers. ESMA rules also limit leverage to 1:30 in the FX market within the EEA.
Unregulated firms, like PNL Advanced, are often scams looking to run off with your money. They ignore the necessary expenses and regulations that legit firms must follow. Be wary of such schemes.
What about the trading platform? We discovered a WebTrader that runs directly from your web browser – no installations are required.
While web-based software may have some conveniences, it falls short compared to trading platforms like MT4, MT5, or cTrader. WebTrader only offers basic charts and indicators, lacking cutting-edge features such as social trading for example.
If you’re looking for a thorough trading experience, the PNL Advanced platform may not be the most suitable choice.
PNL Advanced Trading Instruments
The broker presents four distinct categories of tradeable assets. Let’s take a look at them:
- Forex: From EUR/USD to NOK/ILS, explore the world of currency trading.
- Indices: Dabble in indices such as the NASDAQ, AU200, and BE20.
- Shares: Invest in top names like Amazon and BMW.
- Commodities: Get in on the action with gold, natural gas, and crude oil.
However, one notable absence from the broker’s offerings is crypto assets. This is a terrible omission.
Types of PNL Advanced Accounts
This fraudulent broker presents a menu of 6 account options, each more questionable than the last:
- Rookie: Get started with a deposit of $5,000
- Basic: Up the ante with a $25,000 deposit
- Elite: A $100,000 deposit unlocks the elite level
- Elite Plus: A $250,000 deposit grants Elite Plus status
- VIP: a minimum deposit of $1 million
- Upon Request Account: allegedly tailored to your every whim
These account types are nothing but a facade. This broker wants to extract as much money from you as possible before vanishing with your hard-earned money.
Deposit and Withdrawal Procedure
PNL Advanced broker claims to offer the following withdrawal options:
- Debit/credit card: With a fee of 25 units
- E-wallet: A 25-unit fee, plus a 10-unit processing fee
- Wire transfer: A hefty fee of 50 units
But don’t be fooled by their seemingly innocent fee structure. Hidden in their Deposit and Withdrawal Policy are exorbitant fees that make it nearly impossible to access your own hard-earned funds. Also, let’s not forget about the catch!
Beware that accepting a bonus from PNL Advanced means you must repay the amount of the bonus plus your initial deposit 25 times before being eligible for a withdrawal. Good luck navigating this maze of deceit without the help of legal representation.
How Does This Scam Operate?
Scammers are sneaky and use many tactics to deceive people. One of the most typical methods is to create fake investment sites that appear legitimate. The goal is to make you believe that they are genuine brokers, but in reality, they are not.
When you come across one of these sites, they may ask for your personal data, including your contact details. And once they have that information, scammers will hound you with calls, trying to convince you that they are the solution to all your investment woes.
Sadly, you will never see any returns and will struggle to withdraw your funds. But it’s important to remember that scams can happen to anyone, and there’s no need to feel ashamed about reporting one. Stay vigilant and protect your money!
Recommended Foreign Exchange Brokers
The following FX brokers are reliable and offer a secure trading environment for their clients. These brokers have a reputation, and they adhere to strict regulatory standards to ensure the safety of clients’ assets. Let’s take a look at them!
|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|
PNL Advanced is a broker that has no license. Moreover, they are not regulated by any entity. Besides all of that, they have manipulative trading software. The fact that they don’t have the real address or contact information is even more concerning.
Also, there are many scam allegations and negative reviews about this fraudulent broker.
FAQs About PNL Advanced Broker
Is PNL Advanced Regulated?
The PNL Advanced broker is an unregulated and unlicensed financial swindler. They are banned from three EU countries.
Does PNL Advanced Charge Deposit or Withdrawal Fees?
The minimum deposit amount that the PNL Advanced broker shows on their web page is just too high, as it is $5000.
What Is PNL Advanced Headquarters Country?
PNL Advanced location is anonymous. There is no data about the company name or address at all.