Private-Terranet promises to provide access to global capital markets for everyone interested. They claim to literally offer all trading platforms and trading instruments in one place. Well, it’s at this grandiose moment that our review comes into play, aiming to understand how this is even possible. Could it be yet another scam before us?
- Private-Terranet General Information
- Registration and Client Portal Review
- Private-Terranet Trading Conditions
- Account Types Review
- Trading Platform
- Private-Terranet — Deposit and Withdrawal of Funds
- Additional Options
- Is Private-Terranet a Scam?
- Legal Information and License
- Private-terranet.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Private-Terranet General Information
|Address||6 Bevis Marks Building, Bury Court, London, United Kingdom|
|Leverage||Up to 1:400|
Registration and Client Portal Review
The official website of Private-Terranet is certainly not a shining example to follow. Upon the initial visit to the site, we are greeted with images of nighttime city skyscrapers. Clearly, the intention is to make us imagine that by investing with this broker, we can earn ourselves a penthouse in one of these skyscrapers. Well, they say tastes differ. However, a debate could certainly arise regarding the website’s content, or rather, the lack thereof. It’s noticeably lacking in substance. Legal information is akin to finding a needle in a haystack. On the contrary, what is immediately visible is an abundance of promotional material. Furthermore, it’s quite peculiar that the Private-Terranet website is translated into Italian and English, and only these two languages are available.
The registration process at Private-Terranet is designed to be quite simple and user-friendly. Initially, you’ll encounter a concise form where you’ll be asked to provide some basic personal and contact details. However, what’s notably different here is that Private-Terranet doesn’t seem to be as stringent about your privacy as the name might imply. Surprisingly, they don’t mandate the verification of your phone number or email address during the registration process. Once you’ve filled in the required information, you can effortlessly access your personal account.
The broker’s Client Portal, upon closer inspection, seems to be on the spartan side. It presents a functional but relatively bare-bones interface that lacks the bells and whistles one might expect from a comprehensive trading platform. In essence, it provides the basic tools and features necessary for trading, like account management and order placement, but it doesn’t go above and beyond to offer any distinctive or innovative functionalities that could set it apart in the competitive world of online trading platforms. This simplicity may appeal to traders who prefer a straightforward and no-frills approach, but for those seeking a more comprehensive and feature-rich experience, it might leave something to be desired.
Private-Terranet Trading Conditions
As tradition dictates, following our examination of the official website, we now turn our attention to the trading conditions. We are eager to explore what this platform genuinely offers its clients.
Account Types Review
On the Private-Terranet trading platform, there are three types of accounts: Mini, Green, and Premium. However, it’s challenging for us to discern their differences, apart from the minimum deposit requirement. This deposit can be $500, $5,000, or even more than $10,000. The leverage also varies depending on the account type and decreases with higher status. For instance, in the Mini account, it’s 1:400, while in the Premium account, it’s only 1:100. However, both leverage options are quite high for a regulated broker.
Other trading conditions remain largely the same, including access to daily analytics, 24/5 customer support, and instant execution. Unfortunately, specific information about spreads is not provided; clients are simply informed that they vary. There is also no mention of commissions. Overall, in our view, trading conditions are quite limited and lack distinctive features.
The Private-Terranet trading platform falls short in terms of its software. It offers a limited range of functions and trading indicators, leaving traders with a rather basic toolkit. The platform’s interface is notably simplistic, lacking the advanced features and user-friendly design found in many other trading platforms.
Moreover, the trading platform’s performance and user experience are far from impressive. It has received consistently low ratings in app stores, indicating that traders have encountered issues or difficulties while using the platform. These poor ratings are often attributed to slow execution times, glitches, and an overall lack of features that are considered standard in the industry.
Private-Terranet — Deposit and Withdrawal of Funds
At first glance, Private-Terranet appears to offer a wide range of deposit options. For instance, you can fund your account using Visa and Mastercard, cryptocurrencies, and various payment systems like Neteller and Skrill. However, it’s worth noting that in the client portal, you can only deposit funds through bank transfers or cards. Withdrawals, on the other hand, can be made through bank transfers, cards, and cryptocurrencies. It’s important to keep in mind that the actual list of available deposit methods may vary, and you might need to confirm the current options directly with Private-Terranet’s managers.
The verification process on the Private-Terranet website is conducted through the Client Portal, which provides a user-friendly interface for account management. To begin the verification process, users can navigate to the specified section within their client portal.
Here, traders are required to upload several key documents to verify their identity and address. These documents include:
- Identity Verification. Users are asked to provide a clear and valid copy of their government-issued photo identification, such as a passport or driver’s license. This document serves to confirm the user’s identity.
- Proof of address. To verify their residential address, users need to submit a recent utility bill (e.g., electricity, water, or gas bill), bank statement, or any official document that clearly displays their name and address. The document should usually be issued within the last three to six months.
- Payment method verification. In some cases, users may be required to provide copies of the front and back of the credit card used for funding their trading account, if applicable.
Private-Terranet offers additional options for traders, including a potentially enticing partner program. However, detailed information about this program, such as reward structures and other specifics, is not readily available in the corresponding section of the website. Instead, you’ll find a general description of the benefits of participating in this initiative.
To obtain answers to your specific questions regarding the partner program or any other inquiries, you can reach out to the Private-Terranet management by sending an email. The broker’s support team is typically responsive and can provide you with the information you need to make an informed decision about participating in their partner program or utilizing any other additional options they may offer.
Is Private-Terranet a Scam?
In conclusion, the last critical aspect we need to investigate is the legitimacy of the broker. What will our research uncover?
Legal Information and License
We’ve struggled to determine the jurisdiction under which Private-Terranet operates. The broker offers trading conditions that don’t align with any known regulatory framework. Surprisingly, there’s no mention of this in the website’s footer where legal information should be disclosed. We meticulously reviewed the user agreement, but it provided no insight either. It appears that Private-Terranet is operating in a rather elusive manner, with no official registration to be found anywhere. Consequently, if it doesn’t officially exist, it likely hasn’t obtained any licenses either.
Private-terranet.com Domain Info
We couldn’t help but chuckle at the broker’s self-praise, its claims of industry leadership, and assertions of years of operation. However, when it came down to investigating, these claims evaporated like smoke. The project domain was registered in September 2023. In essence, Private-Terranet is such a newcomer that it hardly makes sense to consider it seriously.
The broker provides email as the sole contact method, with no phone number listed. Moreover, the provided address appears likely to be fictitious, as there are no company offices registered at this location on the map. Additionally, Private-Terranet is not listed in the British registry.
Pros and Cons
- Variety of funding options.
- Unknown regulation and jurisdiction.
- Lack of transparency.
- Scanty educational resources.
- Inadequate trading conditions.
- Unverified claims.
- Limited contact options.
Frequently Asked Questions (FAQ)
Private-Terranet offers a range of trading and investment services, including access to various financial markets. However, potential investors should exercise caution due to concerns about its legitimacy.
The minimum deposit required by Private-Terranet is $500, according to their trading conditions.
No, Private-Terranet is not considered safe. It lacks regulatory oversight and transparency about its operations, which raises significant safety concerns for potential investors. We recommend exploring safer and regulated alternatives.