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Do not response. Only say hello. Do not handle anything.
The only way everyone can do now is to report to FBI. This company is a fraud company. It is a fake one. It is all deceitful and pig-butchering scam.
Transferring the money to the crypto address, but missing an e in address. The total is almost $70,000. The customer service does not care about it. I beg the relevant personnel to help me recover this loss, thank you
From penzolead.com, the principal of 70,000 dollars was transferred to crypto because the address was missing an e. It’s almost a week. Now I don’t know where my hard-earned money is going. The customer service doesn’t care about a regular transaction that can be retrieved. And the customer service push the responsibility on me. They do not deal with it. Everyone be careful. It's hard-earned money
Miss an e in the address and the money cannot arrive. I hope someone can help me
Unable to transfer, I deposite for 10,000 US dollars, but the account was emptied today. pig-butchering scam, internal transaction! ! Account not guaranteed
Yesterday I went to the crypto address from penzolead.com and wrote a wrong letter. I lost an e in the end. I talked to the customer service and said no matter. It may be less than $70,000. Stay away from penzolead.com.
Yesterday, I was going to withdraw money to the crypto account because the first 2 times were successfully received, so I didn't see the address. I don't know why I got to an account and there was an e missing. I contacted customer service and said that my address was wrong. I don't care. The numbers are missing one e. They said that I was responsible for more than 60,000 dollars. Don't trust penzolead.com.
Didn’t I provide the photos? Deposit and withdrawal has been reviewed from February to now
The address is missing an e, and now the money has not reached the account. They also suspend my account and ignore me. I do not know what to do with my 70k dollars
There are no updates for a month of withdrawal, the customer service says that the order volume is too large, and the system will automatically review the specific withdrawal and cannot answer anything more. Please wait patiently, if you ask more questions, he will block you, and finally cannot contact the customer service
In March 2023, I was introduced by a friend to trade on this website, and they claimed to be regulated by the US Digital Fraud Enforcement Agency. I made a deposit, and the first withdrawal went smoothly. Then I invested more, but I was unable to withdraw the funds when I made the second withdrawal on March 24. I contacted the customer service, and the customer service told me that I need to pay 20% of the capital gains tax, and it cannot be deducted directly from the account. It needs to be resubmitted to another account designated by the platform, and the designated account can only be used for two hours each time, nad it is not fixed, it should be changed every two hours, otherwise the withdrawal cannot be made. When I contacted the customer service staff, no one responded to the message for a long time. I deposit more than 200,000 US dollars on the platform, and I only want to withdraw 500 US dollars, they asked me to pay more than 11,000 US dollars in capital gains tax. This is clearly a fraud, and I hope the relevant departments can help me.
How should I put it? I was planning to open an account before, but my position was inexplicably liquidated this morning. Haha, it's incredible
I used to trade with penzolead.com before, but when I paid the money, I might have had the wrong address and couldn't make it to the account for a long time. I hope you can help me
It is unable to withdraw for more than a month since 2.26. I asked the customer service. The customer service said that there are too many orders, please wait patiently. Since the withdrawal is a system review, I can’t answer you. The customer service was impatient with my question and directly blocked me. Yes, there are pictures as proof, please don't be fooled
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
|Penzo Review Summary in 10 Points|
|Registered Country/Region||Hong Kong|
|Market Instruments||forex, precious metals, energy, cryptocurrencies and indices|
|EUR/USD Spread||From 0.1 pips|
|Customer Support||Live chat, email|
Penzo is a newly established online forex broker that offers access to a range of financial markets, including forex, stocks, commodities, and cryptocurrencies. It is registered in Hong Kong and is owned and operated by Penzo LTD. The broker offers its clients access to a series of trading instruments with flexible leverage up to 1:200 and floating spreads from 0.1 pips on the MT5 trading platform.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Penzo has some advantages such as offering access to a range of financial markets on leading MT5 trading platform and responsive customer service through live chat, email, and social media. However, Penzo's lack of transparency regarding its regulatory status and trading conditions, as well as its limited educational resources, are cause for concern.
|• Offers access to a range of financial markets||• Lacks transparency regarding regulatory status and trading conditions|
|• Offers MT5 trading platform||• Clients from the United States, Canada, United Kingdom, Iran, North Korea and Cuba are not accepted|
|• Only supports crypto-wallets and bank transfers|
|• Limited educational resources|
It is important to note that the pros and cons listed here may not be exhaustive, and traders may have different priorities or experiences with Penzo.
There are many alternative brokers to Penzo depending on the specific needs and preferences of the trader. Some popular options include:
Exness - offers low spreads and commissions, along with a range of trading platforms including the Exness Trader.
GMI - offers competitive spreads and commissions, and traders can choose from MetaTrader 4 or 5.
DBG Markets - offers the popular MetaTrader 4 platform, as well as cTrader, and competitive commission rates.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
The fact that Penzo holds an unauthorized National Futures Association (NFA) license is concerning and raises questions about the legitimacy and safety of the platform. The lack of transparency regarding trading conditions and fees is also a cause for concern, as it may indicate that the platform is not operating in a fully transparent and ethical manner.
Without more information about the platform's operations, it is difficult to definitively determine whether Penzo is safe or a scam. However, it is recommended that traders exercise caution and carefully consider the risks before engaging with Penzo or any other platform that lacks clear and comprehensive information about its operations and regulatory status.
Individual and institutional traders who use this broker will have access to extensive popular and mainstream financial markets regardless of where they are. Different asset classes covering forex, precious metals, energy, cryptocurrencies and major global indices are all available through the brokerage platform.
• Foreign Exchange: Provide dozens of mainstream foreign exchange currency pairs including Euro/U.S. Dollar (EUR/USD), U.S. Dollar/Canadian Dollar (USD/CAD), British Pound/U.S. Dollar (GBP/USD).
• Precious metals: Provide a variety of metal spot transactions: gold (XAUUSD), silver (XAGUSD) precious metal transactions.
• Crude oil: Provide U.S. crude oil (UsOIL) trading
• Index: Hong Kong Hang Seng Index (HK50), Germany Index (GER30), S&P 500 Index (US500)
• Cryptocurrency: Provide dozens of mainstream digital currency pairs including Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD), etc.
Creating an account is easy and fast. Click on the “Create an account” button, fill out the form and you will receive the login information in your email box immediately after completion. You cannot change the base currency of your account, as all bids are settled in USD transactions.
Concerning leverage, traders with Penzo are given flexible choices between 1:100 to 1:200. Leverage improves potential returns by allowing you to double or even quadruple your account amount, but it can also cause fund losses, especially to inexperienced traders.
Penzo offers its clients variable spreads as low as 0.1 pips, no requote. Since many brokers today calculate all trading costs into spreads, brokers offering competitive spreads, therefore, gain large popularity. However, no any information related commission revealed directly on their website.
Below is a comparison table about spreads and commissions charged by different brokers:
|Exness||0.1 pips||$7 per lot|
|GMI||0.6 pips||$5 per lot|
|DBG Markets||0.5 pips||$6 per lot|
It is worth noting that these rates may vary based on account type, trading volume, and other factors. Additionally, commission rates may be subject to change, so it is important for traders to stay informed about any updates or changes to their chosen broker's fee structure.
When it comes to the trading platform available, Penzo offers its clients access to the leading MT5 trading platform that can be accessed from any device. MT5 enables them to operate trading bots such as EA, study financial markets, and engage in advanced trading operations. Whats more, traders can even duplicate the strategies of other investors without difficulty. Additionally, the Penzo MT5 trading platform also offers demo account options (up to $100,000 virtual funds) for its clients to test the trading environment without risking their real money.
See the trading platform comparison table below:
|Exness||MetaTrader 4, MetaTrader 5, Exness Trader|
|GMI||MetaTrader 4, MetaTrader 5|
|DBG Markets||MetaTrader 4, cTrader|
It is important to note that these brokers may offer additional platforms or versions of the above-mentioned platforms. Additionally, traders may prefer one platform over another based on their personal trading style and preferences.
Penzo only supports crypto-wallets and bank transfers. However, the platform does not provide clear information about the minimum deposit requirement. Deposits are free while withdrawal fees are not specified. It is recommended that users carefully review Penzo's terms and conditions and reach out to customer support with any questions or concerns they may have about the deposit and withdrawal process.
Penzo offers a variety of customer support options for its users, including live chat and email, as well as a comprehensive Help Center on their website. In addition, users can follow Penzo on social networks such as Instagram, Facebook, and Twitter to stay up-to-date on platform updates and announcements.
The platform's customer service team is known for being responsive and helpful, and users can expect timely and professional assistance with any issues or concerns they may have. However, it is worth noting that there may be some delays in response time during peak periods of user activity. Overall, Penzo's customer service offerings demonstrate the platform's commitment to ensuring a positive user experience and fostering a strong community of users.
|• Live chat and email support available||• No 24/7 customer support|
|• Help Center available on website||• No phone support|
|• Responsive and professional customer service team||• Potential delays in response time during peak periods|
|• Active presence on social networks such as Instagram|
It is important to note that the pros and cons listed here may not be exhaustive, and may vary based on individual experiences with Penzo's customer service. Additionally, traders may prioritize different factors when evaluating customer service, such as the availability of phone support or multilingual support. It is recommended that traders carefully consider the overall quality and responsiveness of customer service when selecting a trading platform, as this can have a significant impact on their trading experience and success.
Penzo's educational resources appear to be limited to tutorials, which may not provide a comprehensive or structured approach to learning about trading and investing. While tutorials can be helpful for users who are new to the platform or who need assistance with specific features or functions, they may not be sufficient for those who are looking to develop a deeper understanding of trading strategies, market analysis, risk management, and other key concepts.
It is recommended that traders seek out educational resources that are more comprehensive and tailored to their specific needs and skill levels. This may include online courses, webinars, e-books, and other resources that offer a structured and systematic approach to learning about trading and investing.
Additionally, traders may consider working with a mentor or joining a trading community to gain insights and perspectives from more experienced traders. By investing time and resources into their education, traders can develop the knowledge and skills necessary to make informed and profitable trading decisions.
In conclusion, Penzo is an online trading platform that offers access to a variety of financial markets, including forex, stocks, commodities, and cryptocurrencies. While the platform has some advantages such as responsive customer service and a variety of trading platforms, its lack of transparency regarding its regulatory status and trading conditions, as well as its limited educational resources, are significant drawbacks. Additionally, the platform's support for only crypto-wallets and bank transfers may limit its appeal to some traders.
As always, traders should carefully evaluate the risks and benefits of any trading platform before engaging in any trading activities, and consider factors such as security, regulatory compliance, trading conditions, fees, and customer service.
|Q 1:||Is Penzo regulated？|
|A 1:||No. Their National Futures Association (NFA) license is unauthorized.|
|Q 2:||At Penzo, are there any regional restrictions for traders？|
|A 2:||Yes. This website and its contents are intended for non-EU residents only, with the exception of residents of the United States, Canada, United Kingdom, Iran, North Korea and Cuba.|
|Q 3:||Does Penzo offer the industry-standard MT4 & MT5？|
|A 3:||Yes. It supports MT5.|
|Q 4:||Is Penzo a good broker for beginners？|
|A 4:||No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its lack of transparency.|
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