Pickymarkets guarantees that each client will receive the maximum profit from their investment. The company is registered in London, but the founders can’t confirm their words. The negative points include the lack of a license and customer reviews, although the broker calls itself the industry leader. The purpose of our review is to check if there is a scam here.
- Pickymarkets General Information
- Registration and Client Portal Review
- Pickymarkets Trading Conditions
- Account Types Review
- Trading Platform
- Pickymarkets — Deposit and Withdrawal of Funds
- Is Pickymarkets a Scam?
- Legal Information and License
- Pickymarkets.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Pickymarkets General Information
|Address||Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands|
|Minimum deposit||500 euros|
|Leverage||From 1:100 to 1:400|
Registration and Client Portal Review
Pickymarkets offers income from cryptocurrency trading. The company started in 2001 but has been growing to the present day. The broker guarantees high-quality order execution and transparent, competitive prices.
By and large, there is only self-promotion on the Pickymarkets’ website. In each section, we see beautiful words without any proof. Let’s go to the client portal and find out what awaits us there.
Click “Sign Up” to go to the registration window. Enter the name, contact details, region, and account currency. Confirm your agreement with the rules. The system also asks if you are over 18 years old and if you are not a US citizen.
After clicking the button “Open account”, you will immediately find yourself in your client portal. We were surprised that different CFDs are available here, and not just cryptocurrencies.
You can go through the verification in the settings to access the deposit and withdrawal of funds. A demo account is not available and the chat button is not active.
Pickymarkets Trading Conditions
The broker claims to be a trading partner you can trust. The new customer should choose the most suitable account. Investment is an additional service of Pickymarkets. The client can choose a financial plan and invest in cryptocurrency for up to 2 years.
However, detailed information on such investments is not available both on the official website and on the client portal. We tend to think it’s just bait.
Account Types Review
Pickymarkets offers account types with the ridiculous gradation of the minimum deposit. You have to deposit 1.5 million euros to get access to the most attractive conditions. We remind you that the broker does not even have a license from any state regulator.
|Name||Minimum Deposit, EUR||Leverage||Account Manager|
|Pro Plus||50 000||1:250||Private Senior|
|Millionaire Club||500 000||1:350|
|VIP Ultra||1 500 000||1:400||—|
Educational materials, analyst assistance, news and market reviews are available on all tariffs. At the same time, it is obvious that the amount of balance has almost no effect on your privileges.
Pickymarkets uses an innovative, award-winning trading platform. (Of course, we do not see any rewards on the broker’s website). The platform can be opened from any device with internet access.
The main features of Web Trader are:
- Simple interface
- Quick order execution
- Chart selection.
In our opinion, the terminal is too simple and more like a binary options trading platform. Some claimed features are missing or do not work properly.
For example, Live TV usually contains summaries of the most relevant economic news or expert reviews. On https://trade.pickymarkets.com in the Live TV section, there is a broadcast of the Russian TV channel Russia Today, which works for an English-speaking audience. It is difficult to find an explanation for this fact.
Pickymarkets — Deposit and Withdrawal of Funds
According to the information in the client portal, the following payment methods are available:
- Bank Transfer
- Credit Card
Pickymarkets does not describe these methods on its website, nor does it mention possible fees.
To verify and start trading, you need to upload the following documents:
- ID confirmation
- Proof of residence
- The front and back sides of the bank card
- Filled DOD.
Again, Pickymarkets does not mention these docs on the site. The list is available only after registration. Besides, disclosing such information is extremely risky.
Is Pickymarkets a Scam?
Let’s analyze each bad item that we have identified in the company. Their presence suggests that the broker is not what it claims to be.
Legal Information and License
The broker claims to be part of the huge financial holding StoneX Group Inc. (founded in the USA in 1924). Of course, on the site https://www.stonex.com we did not find any mention of Pickymarkets.
Instead, we found in the terms and conditions that the broker is owned by an offshore firm, Equal Target Ltd. There is more to come!
Look at what we found at International Registries of the Marshall Islands. Equal Target Ltd. was annulled in 2020. Thus, Pickymarkets does not have a legal entity at all and is not entitled to conduct any activity.
Pickymarkets.com Domain Info
If the broker was related to StoneX Group, it would have been working for many years. However, a domain check reveals that the site was created in the summer of 2022.
Besides, the domain appeared 2 years after the liquidation of the company to which it allegedly belongs.
The broker’s contacts look sad. At first glance, there are phone numbers, email, and office addresses. (For some reason, the headings are confused with their description).
However, an attentive person will understand that phone numbers and addresses are just non-existent templates. Usually, they are used on demo versions of sites. Most likely, there is only a feedback form for contacting Pickymarkets.
Pros and Cons
- Quick registration.
- No legal entity.
- No license.
- Hiding important data.
- Strange terminal.
- Trading CFDs instead of cryptocurrencies.
- No contacts.
- Rather short working time.
Frequently Asked Questions (FAQ)
There is primitive CFD trading here. The broker has developed 7 types of accounts, but has not specified spreads, margin, or lots.
The account line starts at $250.
In no case. The company is not regulated by anyone and has existed for only a few months.