Pacoxr Review: Pacoxr.com Broker a Scam

Pacoxr Review
0.5

Summary

An unregulated broker is a shady broker to say the least. Pacoxr has even asked clients to deposit funds so they can trade those funds on behalf of their clients.

Which broker phones people out of the blues to request them to make a deposit? They seem phony and very careless.

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Pacoxr is a broker that allows trading of stocks, ETFs, Futures,Bonds, options, mutual funds in addition to regular Forex pairs. This Pacoxr review is confirming that the broker is intending to scam its clients.

First off, we start with the broker’s account types (if there is any), trading conditions offered and whether or not they are licensed to provide traders the investment services in question.

Moreover, Pacoxr is claiming to pay interest on eligible free credit balances in their trader’s account. They are claiming to do so in partnership with TD Ameritrade.

This is one of the reasons why Pacoxr broker is attractive to newbie investors and traders who have never been scammed before.

Nevertheless, this broker is also providing algorithmic trading to its clients. Details of the algo trading software offered by Pacoxr broker is scanty and not clear.

In their FAQ, they claim that no minimum deposit has been set yet. However, they are recommending at least $2,000 to trade with.

Pacoxr review

In addition to this, the broker is known for soliciting funds from investors with the claim that they will mobilize experienced traders who will invest those funds on behalf of less experienced traders.

That is to say they are offering something similar to a PAMM or MAM account but with the exception that instead of the operators of these MAM accounts approaching clients, the broker himself solicits for the funds.

We feel that Pacoxr is a risky broker to trade with. If you want to know why, keep reading this Pacoxr review and if you have been scammed, you’ll see the reasons and factors which you ignored when you decided to “invest” with them.

Pacoxr review

There are 3 account types for clients who want to get started with this broker. They are as follows:

Minimum deposit is $500

Instruments: Forex, CFDs and Commodities

Spreads and Commission: Not disclosed

Access to breaking news and market research: yes

Trading education: No

Trading platform: MT4 for desktop and mobile

Trade mentor: No

24/7 support: No

Minimum Deposit is $5,000

Instruments: Forex, CFDs and Commodities

Spreads and Commission: Not disclosed

Access to breaking news and market research: yes

Trading education: yes

Trading platform: MT4 for desktop and mobile

Trade mentor: No

24/7 support: No

Minimum Deposit is $20,000

Instruments: Forex, CFDs and Commodities

Spreads and Commission: Not disclosed

Access to breaking news and market research: yes

Trading education: yes

Trading platform: MT4 for desktop and mobile

Trade mentor: yes

24/7 support: yes

Classic and Premium accounts are for skilled and experienced traders respectively.

Is Pacoxr broker regulated?

The answer is a big fat NO!

On their about us page, this broker claims to have been launched a few years ago. This is not the case because according to this who.is page, the website was created in September of 2019.

Lack of a license is the biggest issue here as all brokers who don’t have a license tend to mishandle or even scam their clients.

This broker is no exception as some reviews from clients have suggested that they are a scam.

They don’t have a phone number or a live chat system like professional brokers. They only have a support email [email protected] which we have never bothered to use since there is no need to.

Pacoxr does not offer its services to residents of the US and Japan preciously. This is for the obvious reasons that they fear being arrested and prosecuted if found soliciting clients from these countries.

Moreover, they are not even providing us with company registration information. It appears this broker has not setup its company yet.

They are basically operating like Masdar Investment, Xtt Capital, FXFinest, Raw Forex and many other unregulated brokers.

If they are unregulated, it simply means that your funds won’t be kept in a segregated account as required by financial regulators.

It means there will be no compensation in case you lose funds. It means you won’t be heard if you ever lose your funds to Pacoxr broker.

Pacoxr reviews from clients

A Forex Peace Army review talks about a clients experience with this shady broker.

This person invested $250 because he was told by staff members of Pacoxr that these funds were going to be traded on his behalf.

PACOXR reviews scam

Once the broker took the money, they started asking for additional $750. This is a typical characteristics of a scam.

You can see the Pacoxr review here. The company has been invited to speak on the case but it seems their extremely scared or are outright defiant.

Conclusion

Anyone who invests with Pacoxr will lose their money. This is not a broker to be trusted.

Their spreads are also quite high as minimum spread for a pair like EURUSD is 3.0 pips.

Can you imagine trading with this kind of spread? Even if you deposited $200 or less with an ECN or STP broker, you’d enjoy less than 1.0 pips for this pair.

It is not an issue of minimum deposit. All traders should be provided with an ECN trading environment and if not, it simply means Pacoxr is run by thieves trying to scam traders.

Thanks for reading this Pacoxr review.

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