Pelliron

The Company. Security of Funds

Pelliron has been registered under the name Pelliron Universal Limited. in the British Virgin Islands. Pelliron doesn’t claim to be affiliated with any regulatory body. Combining an offshore business, coupled with the lack of oversight, is extremely risky. We wouldn’t advise trading with such a broker.

You might already be aware of this, but in case there are readers who aren’t aware, financial regulation is an important aspect when it comes to comparing forex brokers. Many countries have a designated regulatory agency that is able to protect the interests of customers and to ensure fairness in the market competition within the financial services industry.

In Cyprus this function is handled in The Cyprus Securities and Investments Commission (CySEC). It requires brokers to adopt “segregated accounts” – a policy that requires companies must ensure that clients’ deposits are kept in accounts distinct from the company’s own funds. This stops fraudsters in “borrowing” money out of trading accounts. Another important rule is the requirement to participate to the scheme for local compensation, an arrangement that guarantees investment made by a broker should they be to become bankrupt. In the scenario of CySEC each account is protected by up to EUR20,000.

In addition, Pelliron appears to be specifically targeting male Russian customers. However it is possible that it is possible that the Central Bank of Russia, who also functions as the financial regulator could restrict access to the website.

Trading Conditions

Minimum Initial Deposit

There is no information about the minimum deposit for Pelliron. Whatever the amount is low or high it is a common practice for brokers to make mention of it. Some even employ it as a sales tool, such as FXTM which lets you create the cent-account at just $5.

Be aware that the minimum deposit amount isn’t a significant issue for experienced traders. A well-constructed trading strategy must be backed by a substantial amount of capital.

Average spreads and Commissions

Spreads for Pelliron have been fixed for a long time and begin at 3 pips for EUR/USD. This is quite high considering the present situation of the market. For instance, you could benefit from a 1 pip fixed spread in the same manner, when you make a deposit of more than $250 through the easyMarkets.

Leverage

Pelliron does not provide any information about the leverage that it offers. In addition, the majority of brokers post this information on their website , and others advertise the higher levels they offer. For instance, take for instance XM which offers 1:888 leverage that is extremely high as well as very appealing.

Be aware that leverage is a double-edged weapon. It increases your losses in similarly to your profits be sure to exercise caution prior to putting your money at risk.

Trading Platforms

Pelliron provides its customers the Utip trading system. It’s an intriguing alternative to the well-known MetaTrader4 (MT4) solution, that many brokers choose. One of Utip’s most important selling points is its integration the binary market directly into the platform. This could be considered either positive or negative, based upon your personal opinion about binary options.

The platform is like MetaTrader However, it does not have the wide range of custom Technical indicators, as well as Expert Advisors. Here’s a glimpse:

We must point out that it isn’t Pelliron’s version on the site, since we haven’t been able to get it working

Methods of Payment

There are a variety of payment options offered by Pelliron. These include: Bank Transfer, Credit/Debit Card, Skrill and Neteller. With the firm’s emphasis on Russia we’re surprised Weboney isn’t included, however the current choices are more than adequate.

Conclusion

Pelliron is an unregulated offshore broker that is not regulated and off-shore. It is enough to avoid trading with Pelliron. Additionally, the trading terms (at minimum, the ones that are disclosed) are extremely bad in comparison to the current offers from other brokers. There is a strong likelihood that the broker could be a fraud (or “kitchen” as Russian traders call it). Here’s an overview of the broker’s negative and positive characteristics: