How to recover your investment from PTbanc – Scam Broker Review
Be on the Lookout; PTbanc is an offshore broker; Your investment is at risk. Read this review you want to recover your investment from PTbanc.
Is PTbanc a legit broker and how to recover your investment?
PTbanc is an unregulated offshore broker that offers services such as forex, CFD and or binary options trading. The broker is registered in a fiscal haven that lacks the intervention of any investment regulatory process. This means that taking legal action against this forex broker is next to impossible. Read this review to recover your investment from PTbanc.
PTbanc broker relies on a number of tricks to reach their prospects and make them believe that the money they are investing with them is in safe hands and will generate humongous returns. Such tricks include the use of the state of the art websites and apps, with all sorts of attractive trading conditions followed by well-spoken staff and very efficient customer support after signup. This is all smoke and mirrors.
As far as this kind of scheme goes, the PTbanc staff could very well be operating as part of a network of anonymous call centers in undisclosed locations. They could outright lie to you about their location and even their names. In typical investments scams, the staff uses stage names when communicating with the clients to add a layer of anonymity. Using excellent sales skills paired with manipulative psychology techniques, the staff involved in these sophisticated scams will prompt the victims to invest always more money, often beyond what they had planned in an attempt to avoid losing it all. This type of scam is now widespread and used to defraud unsuspecting victims billions of dollars annually.
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PTbanc broker Reviews
A look into PTbanc Reviews on various internet forums will reveal that PTbanc clients have had issues withdrawing their investments and/ or profits. Though the reviews regarding PTbanc have been drawn from various sources, it reveals a similar challenge. PTbanc entices clients into this scam through interesting profits posted to their clients’ trading accounts.
The company even goes to the extent of transferring some of the money back to the clients. Once the clients’ trust is gained, they are prompted to invest more money for much better returns. Once the client has transferred the money, the problems begin.
PTbanc broker will then manipulate the trading platform to create scenarios jeopardizing the clients’ investments. The clients are then prompted by PTbanc Financial Analysts to transfer more money into their accounts to reduce the losses they are facing, often to avoid losing their investments altogether. Immediately after they do this, withdrawing the funds becomes an issue.
How To Recover Your Investment From PTbanc Broker?
There is no easy way to recover your investment once you have sent it to PTbanc. PTbanc is structured in such a way that it makes it hard to pinpoint the scam to specific individuals and prove any wrongdoing. PTbanc constitutes a brokers brand that is managed by a chain of shell companies registered in fiscal havens. Building a legal case against the broker would require one to utilize the services of a private investigator to track the money trails and trace it to individuals who could testify of the fraudulent practices of the broker. This does not even factor in the huge legal costs that would be required to institute a civil action in such offshore locations. Such prohibitive costs make it hard for customers of PTbanc to take any action.
However, hope is not lost. There are other means through which investors can recover their funds from PTbanc, without going the civil action route. A number of PTbanc victims have managed to recover their investment by maneuvering the banking legal system. While this method might be unknown to many people, it is possible for an individual to get his or her bank to reverse credit card charges and bank wire transactions in his or her favor. While this is possible, the route has a lot of rules and regulations around such a procedure and it would be wise to hire an expert if you want to recover your money from PTbanc broker.
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More reasons why you shouldn’t trust PTBanc
No corporate clarity, regulatory warning against it
When it comes to the company owning and operating PTBanc, things seem very unclear. We could not find the name of the company anywhere on its website, only an address in Luxembourg, which is basically means that its service is anonymous.
What is worse, we found out that PTBanc has been blacklisted by Luxembourg’s financial regulator. The Commission de Surveillance du Secteur Financier (CSSF) informed the public that PtBanc is unknown to it and that the entity has not been granted any authorization to provide investment or other financial services in or from Luxembourg.
PTBanc is an unregulated forex and CFD broker with very limited credibility. Its offer is not very transparent, nor attractive: the costs of trading seem high and MT4 is not supported. Nonetheless, our main concern with PTBanc is the fact that it is not licensed, and there is a regulatory warning against it.
Basically, when trading with such a broker, your entire account balance is at risk and you might not be paid anything, when you demand a withdrawal. In contrast, when dealing with a licensed broker, you will be assured a certain level of protection. For example, forex brokers licensed in the UK are very reliable. They are under the oversight of the UK’s Financial Conduct Authority (FCA), which applies strict rules to them. Besides, they are under the umbrella of the Financial Services Compensation Scheme (FSCS).