Read our PSI Markets review to learn how this bogus website is lying to users in order to rob them of their hard-earned funds. The digital fraudsters behind the platform are using tactics similar to those of Millbank Capital.

Therefore, we urge you to familiarize yourself with the nature of anonymous Forex schemes to avoid falling prey to them. We offer to help cyber fraud victims get their money back.

Legal Info: Is PSI Markets Regulated?

The PSI Markets broker claims to be an offshore trading brand operating from the Commonwealth of Dominicana. However, no evidence proves this entity is registered and regulated in that jurisdiction. We did more research and unveiled shocking findings.

A few days ago, the UK’s Financial Conduct Authority (FCA) issued a warning against the fraudulent broker, stating the firm is providing or promoting financial services or products without permission.

“If you deal with this firm, you won’t have access to the Financial Ombudsman Service if you have a complaint. You also won’t be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong,” the FCA stressed.

Instead of trusting anonymous imposters, we recommend choosing firms regulated by recognized financial authorities like the FCA (UK), ESMA (EEA), CFTC (US), ASIC (Australia), IIROC (Canada), and MAS (Singapore). 

These companies follow strict regulations, ensuring they provide clients with negative balance protection, segregate funds in top-tier banks, and sometimes offer compensation schemes.

Who Are PSI Markets’s Targets?

According to WHOIS, the psi-markets.com website domain was created on June 30, 2023. Since then, the financial swindlers behind the platform have mainly been targeting unsuspecting traders and investors from the following jurisdictions: 

• United States
• United Kingdom
• Canada
• Australia
• Portugal

These countries have established stringent regulations to crack down on online scams like Cryptex and secure their financial markets. Participants must obtain the necessary licenses and approvals to operate legally.

Contrarily, PSI Markets is running its business without the required regulatory clearances, thereby breaking the law. The FCA has made that clear.

Trader Reviews – Sharing Experiences

We found six PSI Markets reviews on Trustpilot. As of this writing, the shady broker received an average score of 2.6/5. Traders have exposed the platform for its deceptive practices, citing PSI Markets login issues and withdrawal problems.

“PSI-markets.com is a scam, investment fraud. The worst part is not even the 250 euro I lost. I found out too late that it was a scam, but the stalking afterward through calling me daily at least from 10 different numbers,”

– a Trustpilot user wrote.

When scouting for a reliable brokerage firm, tuning into the experiences of other traders and investors is critical. Their unfiltered reviews and feedback can reveal valuable insights and help you dodge schemes. Before jumping into any new investment, take a moment to sift through genuine user testimonials and regulatory warning lists.

Which Trading Platform Is Available?

The PSI Markets platform leaves much to be desired, offering only a basic web interface without any dedicated desktop or mobile app. The tools were lackluster, and we couldn’t thoroughly test the PSI Markets trading functionalities because there was no demo account. However, that’s just the tip of the iceberg.

The real concern is that this shady broker operates with a dubious background and lacks proper regulation, making its trading platform a risky choice.

Instead, we recommend choosing a licensed provider that supports robust third-party software like MetaTrader 4, MetaTrader 5, or cTrader. These platforms offer advanced features such as automated and algorithmic trading, sophisticated charting, multiple timeframes, live market reports, and expert advisors.

PSI Markets Account Types

Trading Info – Leverage, Spreads, Commissions

The minimum cost of opening a PSI Markets account is 250 EUR, which is reasonable. The maximum leverage for retail clients is 1:30, and for professional ones, 1:400. Again, this aligns with top regulations. 

However, the benchmark EUR/USD currency pair spreads double the industry standard. To get decent spreads, you’d have to open a VIP account, which is super expensive. Another major red flag is the lack of a demo account.

Can Traders Use a Free Demo Account?

You shouldn’t risk your actual cash from the get-go. Trying the platform with virtual funds before investing real money is always best. That way, you can avoid fraudsters and their shady tactics. Reputable brokers understand this and always provide risk-free demo trading. 

However, you cannot do that here because PSI Markets doesn’t support a risk-free demo account. Why waste time with unscrupulous providers when you can find proven platforms?

Deposit and Withdrawal Process

While depositing funds might be straightforward, withdrawing them is often a different story. If you’re unable to secure a withdrawal, it’s time to explore other avenues to recover your funds.

If you funded your account with a MasterCard or Visa credit/debit card, you might be able to initiate a chargeback through your bank, provided the transaction occurred within the last 120 days.

For wire transfers, you can recall the transaction through your bank, but only if the funds haven’t already reached the scammer’s account. Reversing e-wallet payments involves contacting the issuer directly to request a chargeback.

Recovering cryptocurrency payments, however, is much more challenging. Retrieving stolen digital assets requires advanced tools like CipherTrace and professional assistance. Fortunately, our experienced team is here to guide you through this complex process.

Key Facts To Consider About PSI Markets

PSI Markets claims to be an offshore trading brand offering users high leverage and a web platform. Looking closely at the business, we found the FCA’s warning against it, stating the platform is fraudulent. We have discovered that fraudsters mainly target American, British, Australian, Canadian, and Portuguese traders.

We do not recommend trading on such platforms due to their unregulated status. If you are a PSI Markets scam victim, you must seek our professional help to recover your funds! A chargeback is your best option.

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.

Book your free consultation here and start the chargeback process.

FAQ Section