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Platinium Fund Review – Find Out What They Aren’t Disclosing Before You Invest

Sep 29, 2020 , ,
Platinium Fund

Platinium Fund is an online CFD and forex broker operating out of a difficult to pinpoint the location. They make claims that they operate out of Austria. But, signs point to their existing base of operations being the Marshall Islands, a typical haven for offshore investment operations. Their website also lists a UK office address. Any broker operating in Austria must register with the FMA, and any working in the UK must register with the FCA. However, Platinium Fund holds neither of these registrations; they are an entirely unregulated broker.

Trading with Platinium Fund

Platinium Fund lets their clients’ trade using the popular MetaTrader 4 platform, standard among online brokers. The firm claims to offer a free demo account on their website but attempting to sign up for one simply does not work. There is also a severe lack of necessary information on their website, spreads, leverage, and other details are all missing. Without a demo account, the only way to find these is to put down real money with the broker. Therefore, the minimum deposit needed to start trading is $500, shockingly high for even registered brokers.

Promises of a Nonexistent Demo Account

Higher deposits give traders access to higher account levels, all the way up to platinum. However, higher accounts don’t seem to offer any benefits; Platinium Fund doesn’t seem to put forward any reason for a trader to want a higher account. Every facet of their presentation is sloppy, also with much of their website appearing to be uncustomized boilerplate. The fact that their name includes “Platinium” while the highest account is spelled “Platinum” is one example of little effort coming from this broker.

platinium fund review

Repeated Warnings Against Dealing with Platinium Fund

Much like another unregistered broker, ASKoBID, Platinium Fund is the subject of specific warnings from regulatory watchdogs. The Italian CONSOB and the British FCA have both warned investors that the firm is offering services within their jurisdictions without the relevant authorizations. Brokers that operate legitimately in those jurisdictions are party to many regulations and investor protection. Those who invest with PlatiniumFund receive none of those protections.

Let Us Help You Track Down This Unregistered Broker

Laying down a hefty deposit with an unregistered broker puts you at significant risk. There have been any complaints voiced online about making withdrawals from Platinium Fund. Without a regulatory agency to help, there aren’t many paths to getting your money back. Our team has experience finding those few avenues to successfully recovering your funds. Contact us today and let us know about your case. We’ll help you find the most effective course of action.

Who founded Platinium Fund?

There is no information whatsoever about Platinium fund owners and founders. Their website does not give us any answers about the company itself. The only statement we see – the company was founded by industry veterans.

Is Platinium Fund a scam?

Platinium Fund is an unregulated broker that falsely claims to be based in the UK and has FCA regulation.

When the Platinium Fund broker was registered?

According to the website, the broker is registered in England, UK.