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PSB Forex

Item: PSB Forex
Rating: 1.53

Russia|5-10 years|

High potential risk|

https://www.psbforex.ru/

Website

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Rating Index

Influence

Influence index NO.1

Russia 2.88

Surpassed 15.30% brokers

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Contact

+7 (499) 271-07-72

info@psbforex.ru

https://www.psbforex.ru/

Licenses

CBR Suspicious Clone

Russia Retail Forex License

VPS Standard

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Warning: Low score, please stay away! 3

Previous Detection : 2024-11-15

It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

The RussiaCBR regulation (license number: 045-14023-020000) claimed by this broker is suspected to be clone. Please be aware of the risk!

The current information shows that this broker does not have a trading software. Please be aware!

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PSB Forex · WikiFX Survey

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PSB Forex · Company Summary

General Information & Regulation

PSB Forex is a Russian online Forex broker, a subsidiary of the Russian commercial bank Promsvyazbank, which has been present in Russia for 20 years. PSB forex is currently not subject to any effective regulation.

Market Instruments

PSB Forex offers investors a small number of financial products, including less than 20 currency pairs. Most brokers can offer commodities, indices, CFDs on precious metals, etc.

Minimum Deposit

PSB Forex offers only a standard account with a minimum deposit of 100,000 rubles (about $1300), a minimum lot size of 0.01, and maximum leverage of 1:40. The initial deposit requirement of 1300 USD, an amount too high.

PSB Forex Leverage

PSB Forex offers the high trading leverage, reaching up to 1:500. Unregulated brokers tend to offer high leverage level to attract new traders. However, Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.

Spreads & Commissions

The spread on PSB Forex standard account is 1.9 pips, which is slightly higher than the industry level. Most brokers offer spreads between 1.1 pips and 1.5 pips on EURUSD, which means high transaction costs.

Trading Platforms

PSB Forex offers traders the most popular trading platform currently available, MT5, originally a futures trading platform but has since been improved to be more suitable for forex trading. Today, MT5 has hedging capabilities, and the developers are constantly making other enhancements to it, intending to eliminate its predecessor, MT4.