PILOTFX is a forex broker that claims to offer a variety of trading services, including CFDs, forex, and commodities. However, there is a lot of evidence to suggest that PILOTFX is a scam broker.
PILOTFX is a relatively new broker, having been founded in 2022. The company is registered in the Marshall Islands, which is a well-known tax haven. PILOTFX does not have any regulation from any major financial authority.
Does PILOTFX Have Any License?
No, PILOTFX does not have any license from any major financial authority. This is a major red flag, as it means that the broker is not subject to any oversight or regulation.
Is PILOTFX Regulated By Any Authority?
PILOTFX is not regulated by any major financial authority. The only regulation that PILOTFX has is from the Marshall Islands Financial Services Commission (FSC). However, the FSC is a very weak regulator and is not known for protecting investors.
Pros and Cons
- Low minimum deposit of $100
- A variety of trading instruments offered
- Leverage up to 1:500
- No deposit fees
- Not regulated by any major financial authority
- High spreads
- Negative reviews from former clients
- Difficult to withdraw funds
How Does PILOTFX Reach To Their Prey?
PILOTFX uses a variety of methods to reach out to potential victims. These methods include:
- Running ads on social media and search engines
- Cold-calling potential victims
- Offering free trading signals or webinars
The minimum deposit requirement at PILOTFX is $100. This is relatively low compared to other forex brokers.
PILOTFX offers a web-based trading platform. The platform is not very user-friendly and lacks some of the features that are available on other trading platforms.
The spreads at PILOTFX are high. This means that traders will pay more to open and close trades.
PILOTFX offers leverage up to 1:500. This is a very high level of leverage and can magnify losses as well as profits.
Packages and Products They Offer
PILOTFX offers a variety of trading packages, each with its own set of features and benefits. The packages are:
- Starter Package: This is the most basic package and offers a limited set of features.
- Bronze Package: This package offers more features than the Starter Package.
- Silver Package: This package offers even more features than the Bronze Package.
- Gold Package: This is the most comprehensive package and offers all of the features available at PILOTFX.
Withdrawal and Deposit Method
PILOTFX offers a variety of deposit and withdrawal methods, including credit cards, debit cards, wire transfers, and Skrill. However, there are some restrictions on withdrawals. For example, withdrawals can only be made to the same method that was used for the deposit.
What Do Their Previous Traders Say?
There are many negative reviews about PILOTFX online. Former clients have complained about the high spreads, difficult withdrawals, and lack of customer support.
Summing Up- Why Should Not You Trust PILOTFX
There are many reasons why you should not trust PILOTFX. The company is not regulated by any major financial authority, the spreads are high, and there are many negative reviews online. If you are looking for a forex broker, I recommend that you choose a different broker.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with PILOTFX, you may be able to recover your funds with the help of a recovery service. These services specialize in helping victims of investment scams recover their money.
File A Complaint Against Scam Broker's
PILOTFX is a scam broker that should be avoided. If you are considering trading with PILOTFX, I urge you to reconsider. There are many other forex brokers that are more reputable and trustworthy.
I hope this article has been helpful. If you have any further questions, please feel free to ask.
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