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PSB Forex -

Score

1.96 /10
Danger

PSB Forex

Russia

5-10 years

Suspicious Regulatory License

MT5 Full License

Regional Brokers

High potential risk

https://www.psbforex.ru

Influence

C

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Comparison

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Score

Regulatory Index0.00

Business Index7.11

Risk Management Index0.00

Software Index6.91

License Index0.00

Time Machine
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

PSB-Forex LLC

Company Abbreviation

PSB Forex

Platform registered country and region

Russia

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-09-20
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The RussiaCBR regulation (license number: 045-14023-020000) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Data Source WikiFX Data provide
Updated: 2024-09-20
PSB Forex · Company summary

General Information & Regulation

PSB Forex is a Russian online Forex broker, a subsidiary of the Russian commercial bank Promsvyazbank, which has been present in Russia for 20 years. PSB forex is currently not subject to any effective regulation.

Market Instruments

PSB Forex offers investors a small number of financial products, including less than 20 currency pairs. Most brokers can offer commodities, indices, CFDs on precious metals, etc.

Minimum Deposit

PSB Forex offers only a standard account with a minimum deposit of 100,000 rubles (about $1300), a minimum lot size of 0.01, and maximum leverage of 1:40. The initial deposit requirement of 1300 USD, an amount too high.

PSB Forex Leverage

PSB Forex offers the high trading leverage, reaching up to 1:500. Unregulated brokers tend to offer high leverage level to attract new traders. However, Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.

Spreads & Commissions

The spread on PSB Forex standard account is 1.9 pips, which is slightly higher than the industry level. Most brokers offer spreads between 1.1 pips and 1.5 pips on EURUSD, which means high transaction costs.

Trading Platforms

PSB Forex offers traders the most popular trading platform currently available, MT5, originally a futures trading platform but has since been improved to be more suitable for forex trading. Today, MT5 has hedging capabilities, and the developers are constantly making other enhancements to it, intending to eliminate its predecessor, MT4.

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User comment

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Comments

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张艳华
more than one year
¡Tremenda plataforma! Vine a wikifx para buscar después de recibir su anuncio, nunca cambiaré con él... ¡Espero que todas las personas acosadas por su anuncio puedan saber de qué se trata!
¡Tremenda plataforma! Vine a wikifx para buscar después de recibir su anuncio, nunca cambiaré con él... ¡Espero que todas las personas acosadas por su anuncio puedan saber de qué se trata!
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2022-12-05 16:32
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吴操
more than one year
The spread and the initial capital are both very high, which is not friendly to novices at all. The only available trading platform is MT5. If you are used to using MT4 or other trading platforms, they are not suitable for you. All in all, I do not recommend anyone to trade with them.
The spread and the initial capital are both very high, which is not friendly to novices at all. The only available trading platform is MT5. If you are used to using MT4 or other trading platforms, they are not suitable for you. All in all, I do not recommend anyone to trade with them.
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2022-11-29 12:19
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