Pemaxx Review: Fund Scams & No Withdrawals, Say Traders

Does Pemaxx prevent you from withdrawing funds once you make profits? Has the Mauritius-based forex broker disabled your trading account upon your withdrawal request? Do you fail to withdraw funds despite meeting the trading lot requirements? These scam-like trading activities have allegedly become a part of the brokers operation, as many traders have complained about them online. In this Pemaxx review article, we have highlighted their comments against the forex broker. Keep reading!

Top Forex Trading Complaints Against Pemaxx

Trade Disorder Upon Profit

A United Arab Emirates-based trader recently reported on WikiFX, a leading forex regulation inquiry app, about the suspicious trading activity by Pemaxx as he achieved profits. The Pemaxx review shared below contains an account statement that supposedly shows the loss of funds for the trader. Have a look.

False Trading Lot Promise for Withdrawals Exposed

This complaint describes a trader who was persuaded by a broker‘s official to trade with an initial deposit of $50 and was assured that once he completed trading 10 standard lots, he would be eligible to withdraw his funds. The trader, as per the complaint, completed the lot requirement, with the equity touching $1,800. However, Pemaxx refused to entertain the withdrawal request placed by the trader. In fact, the trader expressed difficulty accessing the Pemaxx login as the broker disabled his trading account. Check out the trader’s words below.

$7,000 Profit Trapped as Pemaxx Repeatedly Delays Withdrawals

A trader claimed to have made profits worth $7,000 on the Pemaxx trading platform. However, the platform kept delaying withdrawals despite multiple requests from the trader. The broker initially blamed the e-wallet issue and nudged the trader to continue trading instead of withdrawing funds. However, the broker continued to deny the withdrawal request made afterward. To make matters worse, the broker even deleted the traders MT5 account. Viewing this as an illegitimate trading activity, the trader felt scared of a complete scam, involving both the principal and profit. Frustrated by the overall experience, the trader did not hesitate in sharing two negative Pemaxx broker reviews, which you can read below.

Investigating the Account Block Case

A trader, while terming Pemaxx as a fake broker, reported that the broker blocked the trading account and ran away with the funds. Take a look at this Pemaxx review, where the trader shared screenshots containing fund losses.

The USD 20,000 Fund Loss Revelation

This complaint emerged recently on a broker review platform, where the trader mentioned having lost USD 20,000. Revealing further, the trader alleged that the broker accesses clients trading accounts using VPS/VPN and trades fraudulently to cause losses for its clients. While clients can witness profits on the MT5 Pemaxx login, they do not receive them. Aghast over the incident, the United Arab Emirates-based trader made his displeasure known with this negative Pemaxx broker review.

The Poor Customer Support Accusation on Withdrawal Cases

The Pemaxx customer support team has come under fire from multiple traders for their poor responses to the withdrawal queries raised by them. This involves a complaint where a trader‘s $6,000 was at stake. Check out the multiple screenshots flagging the broker’s customer support service.

Pemaxx Review by WikiFX: Investigating the Broker‘s Regulatory Status

The complaints mentioned above represented serious financial misconduct by Pemaxx. It warranted a thorough investigation into the broker’s regulatory status by the WikiFX team. The investigation revealed that the broker did not have a valid license for the forex trading business. With this revelation, the investment risk is indeed higher for traders. Keeping this in mind, the WikiFX team gave Pemaxx a score of just 2.16 out of 10.

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