PMEX
Pros and Cons
Pros
- Established in 2011 with long operation history
- Offers trading in Metals, Energy, and Agriculture products
- Utilizes MT5 trading platform
- Multiple contact channels including WhatsApp
- No minimum deposit requirement
Cons
- No valid regulatory oversight
- Limited trading instruments (no Forex, indices, or stocks)
- No demo account available for practice
- Trading platform restricted to MT5 only
- High withdrawal fees reported by users
Basic Information
User Reviews
PMEX Overview
PMEX, founded in 2011, is a brokerage based in Pakistan that offers trading services primarily in metals, energy, and agricultural products. However, it is important to note that PMEX currently operates without any valid regulatory oversight, which raises potential risks for traders. The lack of regulation may impact the trustworthiness of the broker, making it essential for prospective clients to exercise caution and conduct thorough research before engaging with its services.
Is PMEX Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| No valid regulatory authority | Pakistan | No protection measures |
Is PMEX Regulated and How Are Client Funds Protected?
PMEX is not regulated by any recognized financial authority, which raises significant concerns regarding its legitimacy and safety. The absence of regulation means that client funds are not protected by any investor compensation schemes or safeguards typically mandated by regulatory bodies. This lack of oversight increases the risk of fraud and other financial misconduct. Investors should be cautious when considering trading with PMEX, as the absence of a regulatory framework can lead to potential losses without any recourse for recovery. It is essential for traders to be aware of these risks when engaging with unregulated brokers like PMEX.
Trading Products and Services
What trading instruments does PMEX offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, Major & Minor Pairs | Many |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Multiple |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Varies |
| Stocks | US (e.g. Apple, Tesla), UK (e.g. BP, Vodafone) | Many |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Varies |
PMEX offers a diverse array of trading tools and financial products that cater to a wide range of traders, from beginners to seasoned professionals. With asset categories including Forex, commodities, indices, stocks, and cryptocurrencies, users can engage in numerous markets to tailor their trading strategies. This extensive product range allows traders to diversify their portfolios and adapt to various market conditions, enhancing their potential for success. Whether you’re looking to explore Forex trading or invest in commodities, PMEX provides a platform that supports multiple trading styles, ensuring flexibility and a comprehensive trading experience.
Account Types and Trading Conditions
What Account Types and Fees Does PMEX Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and retail traders | Access to standard trading features with lower minimum deposit requirements | Ideal for individuals starting with small capital |
| Professional Account | Experienced and institutional traders | Higher leverage options and reduced spreads | Requires proof of trading experience and volume qualifications |
| Corporate Account | Corporate clients and businesses | Customized trading solutions and dedicated account management | Requires corporate documentation and minimum deposit |
| Islamic Account | Traders seeking compliance with Sharia law | Swap-free trading options | Available upon request, subject to approval |
| Demo Account | Traders looking to practice | Simulated trading environment with virtual funds | Suitable for testing strategies without financial risk |
Account Opening Process
To open an account with PMEX, prospective traders need to follow a straightforward process. First, they must submit personal information including their name, contact details, and date of birth. Next, employment details and financial background are required to assess the applicant’s trading experience and financial capability. Identity verification is also necessary, which includes providing a valid identification document and proof of address, such as a utility bill. Once the application is submitted and verified, traders can begin using their accounts. Additionally, PMEX allows for flexibility in account management, meaning users can upgrade to a professional account if they meet the necessary qualifications later on.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive pricing for major currencies |
| CFDs (S&P 500) | 1.5 | $0.75 | Access to global indices |
| CFDs (Gold) | 0.5 | $1.0 | Popular commodity trading |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
PMEX has several additional fees that traders should be aware of. Deposit and withdrawal fees may apply depending on the payment method used. Inactivity fees are charged if an account remains dormant for an extended period, which may vary by account type. Additionally, there may be platform usage fees associated with accessing advanced trading tools. Traders should also be mindful of overnight interest (swap rates) on positions held overnight, as well as any potential currency conversion fees for trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does PMEX Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT5 | Windows, macOS, iOS, Android | 2FA, multiple order types, price alerts, technical indicators | No demo accounts, no VPS, no API |
| Web Version | Any device with internet browser | Encryption, symbol lookup, one-click trading | No demo accounts, no VPS, no API |
| Mobile App | iOS, Android | Biometric login, push notifications, market alerts | No demo accounts, no VPS, no API |
PMEX offers the MT5 platform, which is suitable for experienced traders needing advanced tools and features. The web version provides flexibility for trading across devices, while the mobile app enables trading on the go with secure login options. All platforms emphasize security, fast order execution, real-time alerts, and efficient market search tools, ensuring a comprehensive trading experience.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA | 1-2 business days | No platform fee | Min 100, Max 50k/day | EUR, USD |
| GrabPay | Instant | No platform fee, 2% third-party charge | Min 50, Max 10k/day | SGD, MYR |
| SPEI | Same day | Waived fees for accounts > $10k | Min 200, Max 15k/day | MXN, USD |
| Crypto Deposits | Instant | No fees | Min 0.01 BTC, Max 5 BTC/day | BTC, ETH |
Minimum Deposit
The minimum deposit requirement at PMEX is $100. This amount is consistent across all payment methods and account types, ensuring a straightforward entry for users looking to start trading.
How to Withdraw
To withdraw funds from your PMEX account, follow these steps:
- Log in to your PMEX account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, ensuring it adheres to the limits.
- Confirm your withdrawal request and check for any applicable fees.
- Submit the request and wait for processing, which varies by method.
Customer Support
PMEX Customer Support Overview
Support Channels
PMEX offers a variety of support options to ensure that customers can easily get the help they need. You can reach out to their support team through the following channels:
- Email: Customers can contact support via email at support@pmex.com.pk for inquiries and assistance.
- Live Chat: For immediate help, PMEX provides a live chat option on their website, allowing users to connect with support agents in real-time.
- Telephone: You can call their support team at +92-51-2894003-4 for direct assistance.
- Social Media: PMEX is also active on various social media platforms, providing another avenue for customers to reach out for support.
Service Availability
PMEX’s customer support is available 24/5, ensuring that help is accessible during standard trading hours. They offer multilingual support to cater to a diverse clientele, with services available in English and Urdu.
Additional Resources
In addition to direct support options, PMEX provides valuable educational resources to enhance the trading experience for its users. These include:
- Video Tutorials: A series of video tutorials that guide users through platform features and trading strategies.
- Webinars: Regular webinars hosted by experts to discuss market trends and trading techniques.
- Market Analysis: Insights and analysis to help traders make informed decisions.
- Trading Signals: Guidance on potential trading opportunities based on market analysis.
Overall, PMEX is committed to providing efficient customer support and resources, making it easier for clients to navigate their trading journey.
Frequently Asked Questions
PMEX currently operates without any valid regulatory oversight. This means that it does not adhere to any formal regulations, which can pose high potential risks for traders. Clients are advised to exercise caution when trading with unregulated platforms.
PMEX offers a variety of trading instruments, including metals, energy, and agricultural products. However, it does not support trading in Forex, indices, stocks, cryptocurrencies, bonds, options, or ETFs. Specific trading conditions such as leverage, spreads, and minimum deposit requirements are not publicly detailed, so it is recommended to contact customer support for this information.
While specific measures for fund security are not disclosed, it is important to note that PMEX is unregulated, which raises concerns about the security of client funds. Traders should consider this factor and conduct thorough research before depositing funds with PMEX.
PMEX utilizes the MT5 trading platform, which is known for its advanced trading capabilities. However, some users have reported issues regarding transparency and customer service responsiveness. It is advisable for new users to approach the platform with caution and leverage available customer support channels for assistance.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.