PTBanc Review (2023)

Is PTBanc a scam or legit broker?

No, it is not safe to trade with PTBanc. PTBanc doesn’t disclose the name of the company behind the brand’s name, as well as its regulation details. However, the terms and conditions on the website state that the company is under the Marshall Islands Governing laws.

The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Dax300, Finbitex and more.

According to the website, PTBanc provides sophisticated Forex and CFD’s solutions to institutional and private investors. It claims to be located in Luxemburg, however, the company is not regulated by its local regulator Commission de Surveillance du Secteur Financier (CSSF). Moreover, the CSSF has issued a warning against PTBanc in September, 2018:

“The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named PtBanc (website: https://ptbanc.com/) which claims to be established at 2 A rue Albert Borschette, 1246 Luxembourg. The CSSF informs the public that PtBanc is unknown to it and that the entity has not been granted any authorisation to provide investment or other financial services in or from Luxembourg.”

There is also one more warning, more recent, issued by the UK’s Financial Conduct Authority:

“PT Banc is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”

Conclusion

We strongly advise all investors and traders to avoid PTBanc and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as City Index and eToro.

PTBanc website is no longer active.