Pixpalpro – This Fraudulent Broker Landed On Many Blacklists

Is Pixpalpro a legitimate brokerage with a valid license? We highly doubt it, which is why we’re doing the Pixpalpro Review, to explain our stance on this shady broker.

This review analyzes the broker’s alleged license, trader reviews, trading platform, instruments, conditions, and payment methods. Note, Pixpalpro did not get on the regulators’ good side.

Is Pixpalpro a Good Broker to Trade With?

Not really. Our main argument against trading with Pixpalpro is that this website is virtually unregulated. The UK-based company supposedly running this business, Pix Point Consulting LTD, is not registered with the local Financial Conduct Authority (FCA), which is bad news.

All UK brokers must be regulated by this authority in order to be valid and operate legally. That’s red flag number one in Pixpalpro’s case. Number two is lying about possessing a license issued by the IFSC of Belize.

We checked the regulator’s website but found no entity named Pixpalpro. Even if such a broker existed there, the IFSC is an offshore watchdog with little credibility.

Our suggestion is that you forget about financial swindlers such as Pixpalpro and RoboInvest, and instead find a reliable provider that legally operates under the jurisdiction of top-tier authorities such as the FCA (UK), US (CFTC), BaFin (Germany), ASIC (Australia), IIROC (Canada), etc.

Warnings Against the Pixpalpro Scam

Speaking of regulators, many have flagged Pixpalpro as an unauthorized trading scam. We found official warnings issued by European financial market watchdogs.

Pixpalpro managed to piss off the British FCA, Italian CONSOB, Romanian ASF, Dutch AFM, Portuguese CMVM, and the Bank of Russia, which was the first one to warn against this scammer on March 21, 2023. All these warnings are clear signs that the Pixpalpro trading platform is fraudulent.

Reviews and Comments About Pixpalpro 

What about other Pixpalpro reviews, i.e. trader comments and feedback? There are several complaints against the broker, indicating the terrible scam that Pixpalpro is running.

We decided to check Sitejabber to see what traders think about this scam. Unfortunately, it seems that Pixpalpro managed to claim victims.

 

This business is not legit, is a SCAM. They use your personal information’s like phone number and email without your consent and call you everyday, harasser you with phones to invest in their “finance” platform. You keep ask them to stop calling and inform them about suing them on GDPR law. They keep calling and harassments…

– Sitejabber user, January 18, 2023.

Countries of Service

When it comes to different domains, i.e. countries where Pixpalpro was active, there are three in particular where most of the broker’s victims live. Here is the list:

• • Germany;

• • Poland;

• • Czech Republic.

It seems that Pixpalpro is mainly interested in Central Europe. All of these domains are under the regulations of the European Securities and Markets Authority (ESMA).

Pixpalpro is not compliant with these regulations and trading laws, which could be seen from the warnings against the broker issued by other European regulators (AFM, CONSOB, CMVM, ASF).

What is Pixpalpro’s Range of Offerings?

According to Pixpalpro’s website, the broker offers the following trading assets:

• • Forex currency pairs – EUR/USD, CAD/JPY, AUD/NZD…

• • Indices – S&P 500, NASDAQ 100, DAX 30…

• • Commodities – gold, crude oil, corn, natural gas…

• • Shares – Disney, IBM, Apple…

Leverage, Spreads & Fees

Pixpalpro promises leverage of 1:500 for trading. This is proof that Pixpalpro is not a legit UK broker since the FCA imposed a 1:30 leverage cap for retail clients.

Super high leverage is really risky and often leads to huge losses, hence the legal limit. As for the spreads, Pixpalpro advertises zero pips, which is hard to believe.

Scam brokers such as Pixpalpro and EUFM often promise ultra-tight spreads but either fake it or do not disclose the commissions, which usually end up being high. The latter is the case here.

Available Platforms and Tools

The Pixpalpro trading platform is web-based. The broker also offers a PC version of this platform that can also be accessed via Pixpalpro’s mobile app available for Android and iOS.

From our experience, browser-based platforms are lackluster and unpolished, without any advanced tools such as automated trading. Aside from basic charts and graphs, web platforms do not offer much.

They are not up to par with cutting-edge trading software such as MT4, MT5, SiriX, or cTrader. Pixpalpro does not support these platforms, which is a huge disadvantage.

Is Profit Withdrawal Possible?

Based on what we read on the website, Pixpalpro listed two available payment methods:

• • Credit/debit cards;

• • Crypto.

The minimum deposit is 500 $, and there are no deposit fees. As for withdrawals, Pixpalpro was not specific regarding fees. In fact, the broker’s entire deposit/withdrawal policy is rather vague.

If you are dealing with unregulated brokers such as Pixpalpro, that do not have a clear payment policy, know that withdrawal issues are inevitable.

What Should I Do If I Have Been Scammed by Pixpalpro?

To sum up, Pixpalpro is not a trustworthy trading broker. On the contrary, this website and platform represent a cyber scam.

If you are a victim of the Pixpalpro scam, that’s unfortunate, but not the end of the world. There are ways you could get your hard-earned money back and we are here to assist you.

Book a free consultation with us and learn about how card transactions could be reversed via chargeback. If need be, our team can help you trace your crypto payment using CipherTrace.

If this broker steals your money, you can contact us for help!