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Platinex Broker Review – Don’t Invest In The Trading Scam

Broker Platinex Review

Platinex broker is one of the recently established entities with an already notorious reputation. The company seems to be blacklisted all around the EU and for a good reason.

So read our trusted Platinex review and get all the details about the trading firm.

But first, you can increase your trading knowledge by reading our updated KryptoEUClub, LiveTraderFX and TradedWell broker reviews.

Broker Status:Unregulated Scam Broker
Regulated by:Unlicensed Company / No Regulation
Scammers /
Operating Status:Active Forex Trading Scam
Blacklisted as a Scam by:CONSOB / CNMV / FSMA / A-TVP
Broker Owner:Lithe Group LTD
Headquarters Country:Commonwealth Of Dominica
Foundation Year:2021
Online Trading Platforms:WebTrader
Mobile Trading:Only via web browser
Minimum Deposit:$250
Deposit Bonus:20%
Crypto Asset Trading:Not Available
CFD Trading Option:Yes, you can trade CFDs
Available Trading Instruments:Forex (FX) / Commodities / Indices / Shares
Maximum Leverage:1:50
Islamic Account:Not Available
Free Demo Account:No, only live trading accounts
Accepts US Clients:US traders are not accepted
Global Fraud Protection Experts’ Verdict:Don’t Invest in This Scam Broker!

Platinex Regulation – Important Things to Know

Platinex is owned by Lithe Group LTD from the Commonwealth of Dominica. Since the broker has the exact same address as many other scammers, including KryptoEUClub and MarketLTD, we had to wonder – is it a bit suspicious?

It turns out it’s more than just a bit. We could not find Platinex regulation with the FSU or any Tier1 regulator such as FCA or BaFin.

What’s Wrong With a License? – Fake Financial Firm

Our discovery tells us that this is another fake financial firm that hasn’t registered as a financial service provider. The website may really be located in Dominica, but since there’s no regulation and no compensation fund, it means nothing to you as a trader.

Before opening a trading account, ensure the broker’s legitimacy and don’t allow yourself to become the next Platinex trading scam victim.

Before we go any further, we just want to say that SagaTrade, Ceptha and SageFX are fraudulent brokerage companies.

Scam Warnings Against Platinex

CNMV About Platinex Scam

We have a long list of warnings against broker Platinex and its owner, Lithe Group Ltd. Official warnings were issued in Italy and Spain by CONSOB and CNMV.

At the same time, Belgian FSMA and Slovenian A-TVP took over the CNMV warning and re-published it.

All this is based on the numerous Platinex complaints that regulators have received.

Where Is Platinex Trading Fraud Active?

The broker is mainly present in:

  • Italy
  • Portugal
  • Germany
  • Spain

Furthermore, warnings from Belgium and Slovenia imply that there are defrauded clients here as well.

All in all, you should be well aware that the Platinex scam has no boundaries and avoid accepting any offers from this fraudulent investment firm.

Negative Platinex Reviews – Platinex Cleaned My Deposit

Once we read Platinex reviews on eminent websites such as Trustpilot, we were shocked to learn how far the scam could go. The broker has a rating of 1.5 stars and some of the worst comments we’ve seen.

Traders have stated that once they deposited the money and refused to deposit more prior to seeing any results, their accounts were suspended, and the initial deposit was wiped out. 

If you have experienced something similar, let us know immediately.

Platinex WebTrader Platform

Far from offering any legitimate software, the Platinex trading platform is a simple Web trader. According to the broker’s website, it is compliant with all devices and any browser and highly responsive. There are a wide range of charts and indicators, and support is available 24/7.

Yet, bear in mind that no Web trader could ever be compared to MT4 or MT5 and avoid brokers that don’t give you a secure place for your funds.

Mobile Trading App

Platinex login is impossible via the mobile app, only through a web browser. You will need to access the website every time you want to check your trades, whether you use Android or iOS devices, which we find highly disturbing and inadequate.

What Can You Trade With a Platinex Broker?

Clients have access to the following trading assets:

  • Forex
  • Commodities
  • Indices
  • Shares

Cryptocurrencies are not an option. Nothing was discovered when it came to the exact number and asset diversity.

The leverage goes up to 1:50, which we must admit is relatively solid for an unregulated offshore scammer. Also, the spread is floating and starts from 1.1 pips for EUR/USD pair.

Trading Accounts Review – Demo & Real Accounts

You can choose between 3 Platinex account types, including:

  • Standard – $250
  • Pro – $2,500
  • Expert – $25,000

Accounts differ in commissions, spreads, account management services, and more. As you can see, Platinex minimum deposit is $250, pretty much a standard.

If you know that you can invest the same money with a legitimate broker and have a guarantee for your funds, we see no reason to proceed with Platinex whatsoever. 

Besides, according to the bonus agreement, there’s a Platinex bonus of 20% when depositing, assuring that you cannot withdraw your money for the next few months.

Demo Account As a Lure

Unfortunately, a Platinex Demo account is not an option, so you will have to start with the initial deposit if you want to test the system.

Scammed By Platinex Broker? – Talk To Our Recovery Experts

If you fall victim to the Platinex scam, let us assure you that you’re not the only one. Global Fraud Protection assisted many in your position to deal with fraudsters and get their money back.

Don’t wait; contact us right away and let’s evaluate your case. Book a free consultation with our specialists and we will do our best for you to recover what you lost.

All In All, Don’t Let the Scammers Get Away for Free!

FAQ Section:

What Is Platinex, And Should I Invest Money In It?

Simply put, Platinex is an online Forex and CFD trading provider not worth your money. So be careful about easy earnings with this scam project!

What Is The Platinex Minimum Deposit?

The minimum deposit with the Platinex broker is $250.

Can I Trade Cryptocurrencies And CFDs With Platinex Broker?

You can trade CFDs but not crypto with this online trading firm.

Does Platinex Have a Mobile Trading App?

Broker doesn’t have a mobile app; everything goes through a web browser.