File a Complaint against PetronPay
Is PetronPay a Scam Broker?
People may want to trade with PetronPay for something a bit different than the typical stocks, forex, or crypto brokers. PetronPay claims that traders can invest in petroleum and promise an extravagant 2.5% daily returns. Traders are encouraged to sign up their friends and get a portion of their returns. If this sounds like a multi-level marketing scheme, this may be right. PetronPay, under further investigation, is like an MLM and Ponzi scheme combined.
Is PetronPay a Scam or Legit Broker?
PetronPay is the subject of a warning by the Swiss regulator FINMA. PetronPay claims to be based in Switzerland but has been exposed as a fraud by FINMA, so that should be enough to cause us to doubt its promises of returns. In addition, 2.5% daily means 75% a month, which is a ridiculous and impossible rate of return. PetronPay is not a reliable broker.
Here are some problems we have discovered from our research on PetronPay and reviews:
- No license
- Warning from FINMA
- Operates like an MLM
- Guarantees of impossible returns
- Bad reviews
ChargeBax experts have examined PetronPay and have discovered that it is a scam. If you want to trade, do some research and select only a regulated broker. If you need assistance finding a reliable broker or require fund recovery from a scam broker, consult with our professionals right away.