Platiniumfund Review: Is Platinium Fund Scam Broker? - Topedgefx.com

Platiniumfund Review: Is Platinium Fund Scam Broker?

Welcome to the Platiniumfund review.

Platinium Fund is an Australian broker promising to make your strategies work harder rather than hard-selling to you.

PlatiniumFund’s website was registered in August 2019 according to who.is.

So this is a brand new broker with no reputation yet but that does not mean the rules of financial regulators don’t apply to them.

The broker is also offering one account that gives access to multiple markets. Traders can trade FX, CFDs and Commodities all in one live account.

In addition to this, the broker is offering dedicated support in all of their account types.

This is certainly an innovative feature since 90% of Forex brokers on the internet don’t provide dedicated support to traders of all account types.

Platinium Fund broker offers 3 types of trading platforms which include the famous MT4 trading software, Sirix WebTrader and Mobile Trader respectively.

Platinium Fund review Trading

Traders have a choice of 4 different account types on the Platiniumfund website. All of these account types provide various features which are ideal for trading based on a clients’ personal needs.

While this Forex and CFDs broker is offering innovative features which are cleverly thought out compared to their dubious counterparts such as Topinvestus, we still have serious concerns about their operations and our advice is that if you’re going to rush or ignore the rest of this Platinium Fund review, read the first few points in the disadvantages section.

In the meantime, you can sign up with these highly recommended brokers because they’re regulated and very professional. 

Platiniumfund review

We can’t ignore the fact that this broker is offering the legendary MetaTrader 4 platform.

This is expected of all professional brokers who are serious about their business.

If you have ever traded Forex or Commodities before, you’ll know that MT4 is user-friendly and is equipped with a series of professional tools.

These include an excellent charting package, built in trading indicators and automated trading robots otherwise known as EAs.

And of course the other advantage is that Platinium Fund is offering dedicated support on all live accounts in addition to educating their clients on technical/fundamental analysis for free.

The disadvantages of trading with PlatiniumFund broker

PlatiniumFund does not have a license

The company behind this broker is based in Austria and is called Platiniumfund Ltd. We were very much interested in finding out their regulatory status because somewhere on the homepage, they claim the following “Protect your money with ASIC”.

ASIC is the main financial regulator in Australia and for a broker to put it out in such a vague manner, it could simply mean that they’re not regulated at all.

Sure, when we did our research, we discovered that Platiniumfund is not regulated.

We have always insisted that trading with an unregulated broker is very risky.

They often mix their funds with those of their customers and so there’s always the risk of utilizing customer funds in other business operations.

In the worst case scenario, the broker will even disappear with your money since the customer is always at their mercy.

If they stop answering your calls or emails, you can do nothing. For that reason, we would like to remind traders that trading with Platiniumfund or any other unregulated Forex broker is a risky endeavor.

Platiniumfund review: Inconsistencies Everywhere

They’ve written on their website that the minimum deposit for their mini account type is $500.

However, in their FAQ page, they disclose that the minimum they can accept is $250. So which of the two should we believe?

Also, in their account types page, they’ve revealed that VIP support is not offered to the first two account types and yet their homepage announces that dedicated support is offered in all accounts.

By the way, these account types have the following features:

[tabs][tab title=”Mini”]Minimum deposit: $500

Spreads: Floating

Leverage: Up to 1:50

Hedging: Allowed

Expert Advisors: Allowed

Base Currency: USD,EUR,GBP

24 hours live support: Yes

Trading platforms: MT4, Sirix Webtrader

VIP Support: No

First 5 operations risk free: Yes

[/tab] [tab title=”Standard”]

Minimum deposit: $5001

Spreads: Floating

Leverage: Up to 1:50

Hedging: Allowed

Expert Advisors: Allowed

Base Currency: USD,EUR,GBP

24 hours live support: Yes

Trading platforms: MT4, Sirix Webtrader

VIP Support: No

First 5 operations risk free: Yes

[/tab] [tab title=”Gold”]

Minimum deposit: $1,001

Spreads: Floating

Leverage: Up to 1:50

Hedging: Allowed

Expert Advisors: Allowed

Base Currency: USD,EUR,GBP

24 hours live support: Yes

Trading platforms: MT4, Sirix Webtrader

VIP Support: Yes

First 5 operations risk free: Yes

[/tab] [tab title=”Platinum”]

Minimum deposit: $15,001

Spreads: Floating

Leverage: Up to 1:50

Hedging: Allowed

Expert Advisors: Allowed

Base Currency: USD,EUR,GBP

24 hours live support: Yes

Trading platforms: MT4, Sirix Webtrader

VIP Support: Yes

First 5 operations risk free: Yes

[/tab][/tabs]

Conclusion

Platinium Fund is a broker that presents itself as professional and honest.

However, we believe that such an unlicensed broker must never be given a chance because anyone who makes the terrible mistake of depositing funds with them will be disappointed.

It is better to trade with brokers who are regulated with major financial watchdogs such as the FCA, CySEC, ASIC and many others.

Thanks for reading the PlatiniumFund review. If you have an opinion, let us know in the comment section.

One Response

  1. Gerald August 6, 2020

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