Is PetronPay a Scam Broker?
Unlike brokers who offer trading of indices, forex, and cryptocurrencies, PetronPay offers something a bit different and gives customers an opportunity to invest in petroleum. The broker encourages customers to get others to sign up and make money from their returns, which sounds like an MLM scheme. In addition, PetronPay promises 2.5% daily returns which are impossible.
Is PetronPay a Scam or Legit Broker?
Already PetronPay doesn’t sound reliable. Added to extravagant promises of returns and its resemblance to an MLM scheme, PetronPay doesn’t have a license. It claims to be based in Switzerland and has been the subject of a warning by the FINMA or the Swiss regulator. FINMA warns that PetronPay is potentially a scam and that consumers should avoid this broker. All of these issues combined are reasons to avoid PetronPay and other brokers that have no licenses and warnings.
Here are some problems we have discovered from our research on PetronPay and reviews:
- Not regulated
- Warning from the FINMA
- Resemblance to an MLM
- Negative reviews
ReportScamOnline has looked carefully at PetronPay and determined that it is not a reliable broker. If you have lost money to a scam broker, consult with our professionals and provide details about your case. ReportScamOnline has a track record of successful fund recovery and will help you retrieve your funds.