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PentaForex

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Operating status: SCAM

Website: https://penta-forex.com

Broker violations and abnormal records
  • 2023-09-19 BrokersView has Reviewed that PentaForex is an Unregulated Broker

    PentaForex claims to provide CFD trading services such as foreign exchange, indices, commodities, etc. It is a trademark of PENTA PLANT LTD. The company is registered in Kazakhstan and South Korea and claims to be subject to effective supervision, but there is no any regulatory information on its website. 

    The truth is that PentaForex is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. 

    Therefore, PentaForex is a scam.

    PentaForex claims to provide CFD trading services such as foreign exchange, indices, commodities, etc. It is a trademark of PENTA PLANT LTD. The company is registered in Kazakhstan and South Korea and claims to be subject to effective supervision, but there is no any regulatory information on its website. The truth is that PentaForex is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, PentaForex is a scam.

Related Complaints

Q&A Complaints

Could you please review PentaForex?

Wassim Deen
India
2023-10-23
ANSWER PentaForex is not a licensed forex broker and thus we strongly suggest investors avoid this online trading serivces provider.While it claims to have offices in Republic of Kazakhstan and South Korea, there are no indications that it is financially registered with relevant financial regulatory bodies: our search for the company PENTA PLANT LTD in the registers of the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market and the Bank of Korea didn't yield any results.Furthermore, its domain name ("penta-forex.com") was first registered in March 2023, which is inconsistent with the claim that it was founded in 2021. When a website's age doesn't match its claim, investors should stay vigilant as there might be a scam.Therefore, entrusting PentaForex, an unlicensed broker, with funds and personal information is highly risky. Without regulatory oversight, its clients are exposed to fraud and identity theft. To avoid such substantial risks, it is advisable to stay away from it and instead choose a fully regulated one.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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