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Regulatory Index0.00
Business Index4.40
Risk Management Index0.00
Software Index4.00
License Index0.00
No valid regulatory information, please be aware of the risk
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40G
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Company Name
Peak Markets LTD.
Company Abbreviation
Peak Markets
Platform registered country and region
Saint Lucia
Company website
Company summary
Pyramid scheme complaint
Expose
Giving orders against the trend, leading to a negative account. Then deposit money into account. When I wanted to withdraw money, it was refused.
I was invited to invest with a commitment of 10% profit per week, on April 8, 2024 I deposited 2000 USD, on April 10, 2024 I deposited another 2000 USD, on April 15, 2024 My account was liquidated, all transactions are supported by the trading floor.
This platform deceives and misappropriates the assets of investors. Withdrawal requests are not approved, and the platform has no right to hold investors' funds. Withdrawals are slow, and when calling the hotline, they do not answer or provide unreasonable reasons. I have followed all the required procedures, but the platform still does not resolve the issue. When calling the platform, they do not answer. They deduct money from my account even though I did not make any trades or modify my trading orders.
I deposited a few accounts of $7,000 from the exchange to buy the Zurich stock code during the offer. And IB helps me place orders for currency pairs to surf. IB 5 times 7 requests to deposit more money to save that stock code. I did not agree. On April 12, 2024, the stock code paid dividends and I received $11,000 the stock code had a negative loss of $6,000 after paying dividends. I stopped the order and requested to withdraw the entire remaining amount, but the floor suspended my withdrawal order for the reason of the bonus. And if you want to get it back, you must have enough trading volume, I did not agree. The exchange proactively placed orders, leading to my account burning on April 18, 2024
The exchange arbitrarily cut orders, it's so boring that this exchange's support is useless. If you give a negative order of 10 prices, do not report a cut, if you get a profit of 1 price, report immediately.
I placed a withdrawal order to withdraw money from the date of July 31st until now, but I still haven't been able to withdraw the money. I called the hotline number of the exchange, followed all the requirements of the exchange, and also provided all the necessary documents as requested by the exchange, but the exchange still does not allow me to withdraw money. Currently, when I call the hotline number of the exchange, no one answers the phone.
The exchange said my withdrawal order was error-prone, I had to place an order with the code EURTRY_ to validate the withdrawal and the order closed automatically after a few minutes. They said the money would arrive within the same day. I waited and didn't see the money coming back. I tried to contact them again but it didn't work. The person who contacted me denied it, saying it was someone from Fonory. They deleted the previous contact chat and denied any involvement. Blatant fraud. One day he said he was helping me withdraw money, the next day he said he was from another exchange.
I was invited to participate in off-exchange investment. At first, I deposited 1000 USD with 1:1 expert support. Every day, I follow the expert's orders. There are some profitable orders and some losing orders. I think it's normal to have profits and losses in investment. So when I saw a large losing order, I asked the expert to cut the loss, but they refused and asked me to deposit more to hold the position. After 4 deposits, the amount I deposited increased to 9000 USD. When I proactively cut one losing order, the expert called and demanded that I not cut it. When I asked, they always replied that it was fine. But when my order reached a loss of 71,000 USD, they asked me to deposit an additional 20,000 USD to maintain the account. At this point, I feel like I have been trapped and cannot control my account. The volume I requested was small, but when I didn't trade the full volume, the expert would call and urge me to trade the full volume. On 33+31/7, despite having a large profit, the actual status of the orders was still negative, so there was no money in the account for me to withdraw. I hope all investors are cautious.
Aspect | Information |
Company Name | Peak Markets |
Registered Country/Area | Saint Lucia |
Founded Year | 2023 |
Regulation | Unregulatory |
Minimum Deposit | No minimum deposit requirement |
Maximum Leverage | 1:1000 |
Spreads | 0.0 pips |
Trading Platforms | MetaTrader 5, Web Trader |
Tradable Assets | Forex, Cryptos, Commodities, Stocks, Indices |
Account Types | Demo account, standard account, fixed account, VIP account, zero account, crypto account |
Demo Account | Available |
Customer Support | Email, phone, and message box |
Deposit & Withdrawal | N/A |
Educational Resources | Help Centre, Economic Calendar, Market Analysis |
Peak Markets is an unregulated forex and CFD trading broker registered in Saint Lucia, offering a diverse range of market instruments, including forex, stocks, commodities, indices, and cryptocurrencies. The broker provides multiple account types to cater to traders of varying experience levels and utilizes the Meta Trader 5 (MT5) platform for trading. Peak Markets provides traders with diverse trading opportunities, tools, and resources for navigating the financial markets.
However, the absence of regulatory oversight and transparent information about deposit and withdrawal processes highlights potential problems regarding the safety of client funds and the overall reliability of the platform. Potential users should thoroughly assess the risks and limitations before engaging with Peak Markets.
Peak Markets currently lacks necessary and valid regulatory credentials. Peak Markets is incorporated in Saint Lucia, yet it lacks regulation from any recognized financial authority. In the absence of a regulatory body to oversee ethical practices and protect client assets, engaging with an unregulated broker carries inherent risks that should be carefully considered.
Peak Markets offers various trading instruments, competitive spreads, zero commissions, and high leverage options. It uses the Meta Trader 5 platform and provides 24/7 customer support, ensuring a reliable trading experience.
However, Peak Markets' lack of regulation by a reputable financial authority raises significant concerns about the safety of client funds and the broker's adherence to industry standards. The absence of transparent information regarding deposit and withdrawal further adds to these concerns, making it difficult for traders to assess the potential costs involved.
Pros | Cons |
Diverse range of trading opportunities | Lack of valid regulatory certificates |
Straightforward account opening process | Limited information on deposit and withdrawal |
Use of popular MetaTrader 5 | |
High leverage options | |
Various customer support options |
Peak Markets offers a diverse selection of market instruments, providing traders with ample opportunities across various financial markets:
Forex: Peak Markets boasts a wide range of currency pairs, including major, minor, and exotic pairs. The broker claims to provide competitive pricing sourced from tier-1 banks and other liquidity providers, ensuring a deep liquidity pool for efficient trade execution. Additionally, Peak Markets allows traders to open both long and short positions, providing flexibility to profit in both rising and falling markets with no commission fees.
Stocks: The platform provides access to a variety of stocks from global markets, allowing traders to speculate on price movements without owning the underlying shares. This provides flexibility and the potential for profits in both rising and falling markets.
Commodities: Peak Markets offers CFD trading on various commodities, including precious metals like gold and silver, energy resources like oil, and agricultural products like coffee, cocoa, sugar, and cotton. This allows exposure to the commodity markets and the potential to profit from price fluctuations. Peak Markets allows traders to diversify their portfolios by trading both soft commodities (agricultural products) and hard commodities (natural resources).
Indices: Traders can gain exposure to the overall performance of stock markets and sectors by trading indices through CFDs. This provides diversification and the ability to capitalize on broader market trends without investing in individual stocks.
Cryptocurrencies: Peak Markets allows traders to engage in the volatile cryptocurrency market by trading popular digital assets like Bitcoin, Ethereum, and Ripple. Traders can speculate on the price movements of these cryptocurrencies and potentially profit from their volatility.
Peak Markets offers five different account types tailored to different trader profiles:
Standard Account: Designed for the majority of traders, this account offers competitive spreads starting from 1 pip, no minimum deposit requirement, and access to over 200 financial instruments. It is a suitable option for both beginners and experienced traders who prefer a simple and straightforward trading environment.
Fixed Account: Suitable for traders who prefer predictable trading costs, this account offers fixed spreads from 1.5 pips for forex and commodities, with no minimum deposit requirement. This account type provides stability and transparency in trading costs, making it ideal for risk-averse traders.
VIP Account: Tailored for experienced traders with larger trading volumes, this account offers raw spreads from 0.5 pips, leverage up to 1:1000, and access to over 200 financial instruments. However, it requires a minimum deposit of $5,000, making it more suitable for high-net-worth individuals and professional traders.
Zero Account: Designed for high-volume traders, this account boasts low commissions, spreads starting from 0 pips, and leverage up to 1:1000. There is no minimum deposit requirement, making it accessible to traders with varying capital levels.
Crypto Account: Specifically for cryptocurrency trading, this account offers access to major crypto assets with raw spreads and leverage up to 1:1000. No commissions are charged on cryptocurrency trades, making it a cost-effective option for crypto traders.
To open an account with Peak Markets, follow these simple steps:
Visit the Peak Markets Website: Go to the official Peak Markets website and click the “Open Account” button.
Fill out the Registration Form: Provide your personal information, including name, email address, phone number, and country of residence.
Choose an Account Type: Select the account type that aligns with your trading needs and experience level.
Verify Your Identity: Upload the required documents to comply with KYC regulations, such as a passport or driver's license, and proof of address.
Fund Your Account: Deposit funds into your trading account using one of the available payment methods.
Start Trading: Access the MT5 platform and begin trading once your account is funded and verified.
Peak Markets offers leverage of up to 1:1000 for specific account types and instruments. Leverage allows traders to control larger positions with a smaller amount of capital, potentially amplifying profits. However, it's crucial to remember that leverage also magnifies losses.
Peak Markets boasts competitive trading fees, with no commissions on forex trades and spreads starting as low as 1 pip. The Zero Account offers even lower spreads starting from 0 pips, although it incurs low commissions. These cost-effective trading conditions can benefit traders by reducing overall transaction costs.
Peak Markets utilizes the Meta Trader 5 (MT5) platform, a powerful and popular multi-asset trading platform known for its advanced features and capabilities. The MT5 platform is available in various formats to cater to different trader preferences:
MT5 for Desktop: The desktop version of MT5 offers a comprehensive trading experience with advanced charting tools, 80+ technical indicators, algorithmic trading capabilities, and a customizable interface. It is compatible with Windows and Mac operating systems.
MT5 for Web: The web-based version of MT5 allows traders to access their accounts and trade directly from their web browsers without downloading or installing any software. This provides convenience and accessibility for traders who prefer a browser-based trading experience.
MT5 for Mobile: Peak Markets provides mobile applications for iOS and Android devices, enabling traders to monitor the markets, manage their positions, and execute trades on the go. The mobile apps offer a streamlined trading experience with essential features and tools.
Web Trading: Allows traders to access their accounts directly from their browser without needing to install any software.
Peak Markets claims to accept all the most popular payment methods. However, it does not disclose the specific deposit and withdrawal methods available on its website. Traders are advised to contact the broker directly to inquire about the available payment methods, minimum deposit and withdrawal amounts, and processing times.
Peak Markets offers customer support through multiple channels:
Phone: Traders can contact the customer support team by phone at +02122710067. The broker claims to offer 24/7 phone support.
Email: Customers can send their inquiries via email to support@peakmarkets.com.
Online Message Box: An online message box on the Peak Markets website allows traders to submit inquiries directly. The broker does not specify response times for email or online inquiries.
Peak Markets provides limited educational resources for traders:
Help Center: The Help Center features a FAQ section with basic information about trading and the platform. This section can be helpful for beginners who are new to trading or the MT5 platform.
Market Analysis: The broker offers market analysis articles and insights to help traders understand market trends and make informed trading decisions. These analyses aim to simplify complex market trends and provide clear insights for both beginner and experienced investors.
Economic Calendar: Peak Markets provides an economic calendar highlighting upcoming economic events and releases, helping traders stay informed about market-moving news. This tool can be valuable for traders who use fundamental analysis in their trading strategies.
Peak Markets offers a diverse selection of market instruments, multiple account types, and access to the powerful Meta Trader 5 platform, making it a potentially attractive option for CFD traders. However, the lack of regulatory oversight and deposit and withdrawal information raises serious concerns about the broker's legitimacy and trustworthiness.
Traders considering Peak Markets should weigh these factors carefully and conduct thorough research before opening an account. It is crucial to prioritize the safety of your funds and consider regulated brokers for a more secure and reliable trading experience.
Q: Is Peak Markets a regulated broker?
A: No, Peak Markets is not regulated by any major financial authority.
Q: What types of trading instruments does Peak Markets offer?
A: Peak Markets offers CFD trading on forex, stocks, commodities, indices, and cryptocurrencies.
Q: What trading software does Peak Markets utilize?
A: Peak Markets utilizes Meta Trader 5, a versatile platform suitable for trading various assets.
Q: Does Peak Markets offer a demo account for practice trading?
A: Yes, Peak Markets offers a demo account.
Q: What are the key features of the Meta Trader 5 platform offered by Peak Markets?
A: Meta Trader 5 offers advanced charting, technical indicators, algorithmic trading, and is available on desktop, web, and mobile.
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