PBN Capital is an unlicensed forex and CFD broker that is suspected to be a scam by the Financial Services and Markets Authority (FSMA). The FSMA issued a warning against PBN Capital and four other forex and CFD brokers which it suspects to be trading scams.
If you have been scammed by PBN Capital or other forex or binary options brokers, read our forex and binary options broker complaints section.
So, what does this mean for South African traders? Is PBN Capital really a scam?
Read our full PBN Capital review and honest conclusion below.
PBN Capital: The Account Types
The minimum deposit required to begin trading with PBN Capital is $250, which is the most common amount required from most CFD brokers.
Tip: Trade with IQ Option instead, the best regulated broker for South African traders with a minimum deposit of only $10!
The problem with PBN Capital is that even though the broker mentions several account types offered, there is no section outlining what accounts these are, the trading conditions available on each account, or even the minimum deposit every account needs.
In fact, it appears that PBN Capital does not provide any information on their website on the trading conditions offered, like leverage, spread or minimum investment amount. This is essential information for South African traders when choosing a broker. What’s more, it shows complete lack of transparency on PBN Capital’s side, which is not only unprofessional, but an immediate red flag that something is not right.
Tip: Check out our list of the best forex and CFD brokers for South African traders, where you can easily compare their trading conditions and make your decision.
Now, on a more positive note, PBN Capital does seem to offer a free demo account for South African investors to practice trading entirely risk-free. As stated on their website, each trader can create several demo accounts and trade with virtual money before deciding to invest any real money.
This is perfect for complete beginners, who can easily practice their trading skills. Professional traders also like to make use of demo accounts, because it allows them to test the broker’s platform beforehand and see whether investing is worth it.
PBN Capital Trading Platform & Assets
PBN Capital is a forex and CFD broker, that allows South African traders to trade CFDs in both popular and exotic assets in forex, indices, metals, energy resources, futures and stocks. However, the broker does not offer trading in cryptocurrency CFDs like Bitcoin, Ethereum or Litecoin which are increasingly popular.
As for the trading platform where investors can access and trade the above assets, South African users will be happy to know that PBN Capital has the infamous MetaTrader4 (MT4) trading platform available.
MT4 is the most recognized and popular forex trading platform online, so it is a definite advantage that PBN Capital has it available. Of course, as MT4 is a more complex platform that commonly caters to more professional traders, so it would be good if PBN Capital also offered a simpler, web-based platform for beginners.
PBN Capital Customer Support
South African traders can reach the PBN Capital customer support team via email or live chat. There are several email addresses available, depending on the purpose of contact, all of which are listed on the website.
The broker does not have a South African phone number available. PBN Capital also does not provide a FAQ section that would answer all the basic questions. This is indeed regrettable because, as mentioned above, their website is incredibly vague.
Company Info & Payment Methods
PBN Capital is owned and operated by Capital Tech Ltd, an offshore company located in the Marshall Islands. The address provided on their website is Ajeltake Road, Ajeltake Island, Majuro republic, Marshall Islands, which, as you can see, is incomplete.
The payment methods accepted are only the two basic options: credit card (Visa, MasterCard) and bank wire transfer. It is important to note here that the only currencies accepted for deposit are USD, GBP and RUB. PBN Capital does not accept deposits in Rand.
Conclusion: PBN Capital is a Scam
Our review of PBN Capital has officially confirmed the claims made by FSMA of being a scam broker. The proof that PBN Capital is most likely to be a scam is the following:
- Not licensed under any regulatory agency
- Company located offshore with an incomplete address
- Vague website, lack of transparency
- FSMA issued official warning against them
Instead of wasting your time with another scam broker, trade directly with the best, regulated broker for South African traders – IQ Option.
You can also check out our lists below:
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