The Austrian broker Platinum Fund has four trading accounts. The broker also claims to provide MetaTrader trading platform. The trading conditions provided on accounts are unclear. Apart from this, we have other serious concerns about the Platinum Fund. In this Platinum Fund review, all the details of this broker will be highlighted. Please follow it thoroughly.
About Platinum Fund:
The trading accounts provided are Mini, Standard, Gold and Platinum. The minimal initial investment for each account are $500; $5000; $10000; and $15000. The maximum leverage ratio of 1:50 is provided on all the trading accounts. To make this Platinum Fund review impartial and comprehensive we shall discuss possible merits and demerits of this broker. The broker’s offerings include world-famous trading platform MetaTrader. It is appreciated and used by 80% of the trader around the world. The MetaTrader trading platform consists of many professionals tools like expert advisor, market analysis indicators and several others. The possible demerits of Platinum Fund are as follows. The trademark Platinum Fund is managed by a company Platinum Fund Limited situated in Austria. The brokers operating from Austria must be licensed by the Financial Markets Authority or any other European financial regulator. However, the broker is not regulated by any of the financial watchdogs. The official website of Platinum Funds does not disclose provided spread. Also, there is no facility of a free demo account on the trading platform. So we could not know the exact spreads available at this broker. There are many inconsistencies in the presentation of the Platinum Fund. The advertisement on the official website claims to need dollar 500 for the opening of basic account. However, the FAQ section mentions the minimum deposit of Dollar 250. In terms of leverages provided, there are two different values are given in two different sections. Such nonregulated and inconsistent brokers possess substantial scam risk.
Is Platinum Fund scam or legit?
The broker is operational from Austria that must have regulation by any financial regulator in the EU. The presentation of this broker is inconsistent. Required minimum deposits to start trading with the Platinum Fund is higher than the market average. It does not provide a free demo account for testing. Considering All the above facts, we can conclude that the broker Platinum fund is a potential scam broker 2020. Traders are advised to stay away from such inconsistent and nonregulated brokers.