Pacific Union Review: Puprime.com Trustworthy Forex Broker or Not?
Pacific Union is a company that is also known as Puprime. It might be a bit confusing to traders when they encounter the entity. The platform does not have any scam reports, but it is an offshore venture.
The signing in process is easy and fast. The firm is offering an MT4 trading platform to investors. The platform has 250 trading assets. The platform markets itself as a reliable forex broker.
The entity brags about having over 50000 existing clients. You can trade at your own convenient time. Pacific Union is trading shares, Metals, Currencies, commodities, indices, and cryptos. Additionally, this firm is offering training to traders.
Unfortunately, this entity lacks a history of trading. The statics they display is misleading. According to Alexa.com, the entity has traffic of 2,251,547. It takes time to acquire such an audience.
Invest with legit forex trading brokers in the market. They avail real-time data and are transparent in their trading activities. These are among the best trading companies that are dedicated to serving their clients.
Puprime.com Review
Pacific Union is offering three trading account to investors. Additionally, the entity also has Islamic accounts. The platform has lucrative bonuses and deals for their clients. Moreover, some investors believe that the firm is legit.
You only need to complete the registration process, deposit funds and start trading. The company states that it has won several awards. The best online trading in 2019 is the best customer service in 2018, the best liquidity provider in 2017.
The platform was established in 2019; some of the information does not add up. Unless the company did exist using a different name, the entity might just be marketing their entity using false data.
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However, we do not know the organizations that awarded the entity these titles. In the past, we have seen shady entities make the same assumptions. Therefore, the entity should verify the information.
The company is transparent as they feature information of the corporate that oversee their trading activities. The platform is not reputable, and we do not know how they are performing in the market. Invest with the best forex trading entities that are trustworthy.
Trading Conditions
Pacific Union is offering a spread of 0. The entity does not restrict investors and claims to have top tier liquidity. The company allegedly manages multiple accounts for their clients. The entity states that all transactions are secure.
The entity of offer spread of 1.3 pips on digital currencies. You can trade BTC, Ethereum, among other cryptos. The entity has the best cash rebates. They also claim investors will trade over 200 products.
Pacific Union Withdrawal and Deposits
Pacific Union does not feature margin, commissions, or charges margin. Hence, we are not aware of what the charges of the company are. The least amount of funds that you can cash in is $100.
Deposits take time, depending on the method you are using. Wire transfer will take 3 days, credit and debit cards take 2 days. Other methods take 1 day. The entity is offering a trading bonus but make sure that you read their terms and conditions first.
Payment methods that the platform accepts are VISA, Skrill, MasterCard, Bank Wire, Neteller, and China Union Pay. However, we cannot verify whether the listed methods are operating. The firm is allegedly processing withdrawal instantly.
Puprime Customer Support
Pacific Union can be contacted via email and telephone number. The platform claims that their customer support is available to help around the clock. Additionally, they have several social media pages. The support is allegedly professional and friendly. They speak multiple languages hence bettering your trading experience.
We cannot attest whether the investment firm has a responsive support system. There are no existing testimonials from their customers. The office address of Puprime is at Suite C, Orion Mall, Palm Street, Victoria, Mahe, Seychelles.
Regulation
Pacific Union is an entity that is allegedly regulated by the Seychelles government. The company has an offshore regulatory document. Therefore, the venture can be considered a legit investment firm.
However, the regulatory body of Seychelles does not much strict financial watchdog like ASIC, FCA, NFA, or CySEC. Pacific Union Limited supervises Puprime trading activities. The corporate is licensed by FSA, which is the Financial Services Authority of Seychelles.
The company is allowed to deposit investors' funds in the same bank account as that of the company. Therefore, there is no segregation of funds. Moreover, the platform can use share capital to cater to its daily activities.
Offshore regulatory bodies are lenient; hence the majority of them cannot manage a multinational investment company. We have nothing against the platform. However, in case of insolvency, we doubt whether the entity can compensate investors.
The regulatory body requires a venture to have two directors and shareholders. Additionally, a company can have a share capital of $50,000. As you can see, Seychelles does not have strict requirements.
Pacific Union Customer Feedback
Pacific Union does not have customer feedback. The platform claim to have been in existence since 2017. Additionally, Puprime claims it has won an award for the best customer service. Sadly, the lack of feedback disregards the allegation.
A great investment company will attract a large number of clients. Lack of feedback creates distrust. Invest in a company that has existing clients. We do not know if the promises the entity makes are met. Therefore, do not invest in this company until traders can validate their services are legit.
Is Pacific Union Safe?
An offshore watchdog regulates the platform. We do not term the entity as a scam, but we won't recommend the venture to the public's member. The factor of making money depends on the reliability of a broker.
Strict fund safety measures that reputable watchdog have enhanced are not the same with an offshore entity. Pacific Union state that they have a bank account in the National Australian Bank (NAB).
Seychelles government permits them to use the funds for their daily activities. Therefore, the entity might not be keeping clients' funds in different accounts. The entity is charging a 5% commission on every withdrawal.
FCA and other watchdogs do not allow companies to exploit their clients in such a manner. The platform also states to have been in operation in 2017. However, the entity made its first digital footprint in 2019.
The platform is lying about its history. Additionally, there are no trading results that have been availed. Lack of clients' feedback is also a sign that the firm is not reputable.
Final Verdict
Pacific Union is a platform that we cannot draw a line. An offshore entity licenses the platform. However, the platform has a few things that they need to sort. Until then, we won't recommend the platform to investors.
Invest with reputable forex trading brokers in the market. They are offering great trading benefits to traders. Moreover, the trading conditions are disclosed. The brokers are also transparent and credible.