PEPE is a forex and CFD broker that claims to offer trading services to clients around the world. However, there are a number of red flags that suggest that PEPE is a scam broker.
Company Overview
The PEPE website does not provide much information about the company. The only contact information listed is an email address and a phone number. There is no physical address or company registration information.
The PEPE website also does not list any of the company’s executives or staff. This is unusual for a legitimate forex broker, which would typically want to establish trust with potential clients by providing information about its management team.
Services or Products
PEPE claims to offer a variety of trading services, including forex, CFDs, and cryptocurrencies. However, the website does not provide any details about these services. There are no trading platforms or educational resources listed.
License and Regulations
PEPE is not regulated by any major financial regulatory authority. This is a major red flag, as it means that the broker is not subject to any oversight or scrutiny. Unregulated brokers are more likely to engage in fraudulent activities, such as front-running, ghosting, and refusing to pay out withdrawals.
Why Dealing With An Unlicensed Broker Is Risky?
There are a number of reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to any oversight or scrutiny. This means that they are more likely to engage in fraudulent activities, such as front-running, ghosting, and refusing to pay out withdrawals.
Second, unlicensed brokers are not required to keep client funds in segregated accounts. This means that your money is not protected if the broker goes bankrupt or disappears.
Third, unlicensed brokers are not required to comply with anti-money laundering regulations. This means that they may be used to launder money or finance terrorism.
Legal Warning Against PEPE
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against PEPE. The FCA has warned that PEPE is not authorized to provide financial services in the UK and that it is likely to be a scam.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are a number of negative reviews about PEPE online. Some clients have complained that they were unable to withdraw their funds, while others have said that they were scammed out of their money.
Feedback About Their Trading
The few reviews that are available about PEPE’s trading services are negative. Clients have complained that the spreads are too high and that the trading platform is difficult to use.
Feedback About Their Customer Service
The customer service at PEPE is also reported to be poor. Clients have complained that they have been unable to get in touch with customer service representatives and that they have received no response to their emails.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by a forex broker, there are a few things you can do. First, you should report the scam to the relevant financial regulator. You can also file a complaint with the Financial Ombudsman Service.
If you have lost money, you may be able to recover some of it through a chargeback. This is a process where your bank or credit card company reverses a fraudulent transaction.
You can also seek help from our experts. Our experts will evaluate your case when you submit them through our contact form. We will prepare guidance and will provide you with that through a free consultation call. Also, we will provide you with some recovery service recommendations that might help you in recovering the lost money.
Final Thought
PEPE is a scam broker that should be avoided. If you are considering trading with PEPE, we think you should rethink the decision. There are many legitimate forex brokers that offer better services and are more likely to protect your money.
