Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10

PMEX

Pakistan|5-10 years|
High potential risk|

https://www.pmex.com.pk/

Website

Rating Index

Influence

Influence

B

Influence index NO.1

Saudi Arabia 6.65

Surpassed 52.63% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

051-2894003-4
info@pmex.com.pk
https://www.pmex.com.pk/

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

051-2894003-4

Other ways of contact

Broker Information

More

Company Name

Pakistan Mercantile Exchange Limited

Abbreviation

PMEX

Platform registered country and region

Pakistan

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-07-18
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

PMEX · WikiFX Survey

Users who viewed PMEX also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

IC Markets

9.05
Score
15-20 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

STARTRADER

8.54
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

MultiBank Group

8.59
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website
Pyramid scheme complaint
Expose

PMEX · Company Summary

Company Name Pakistan Mercantile Exchange Limited (PMEX)
Headquarters Karachi, Pakistan
Regulations No License
Market Instruments Commodities and financial instruments
Leverage N/A
Trading Platforms Meta Trader 5 (MT5)
Trading Fees PMEX fee, SECP fee (10% of PMEX fee)
Broker Commission 1% of the PMEX fee or Rs. 1.25
Customer Support Phone: +051-2894003-; Email: info@pmex.com.pk, support@pmex.com.pk
Educational Resources Webinar, seminar, workshop, trading guidelines

Overview of PMEX

PMEX, headquartered in Karachi, Pakistan, stands as the country's premier multi-commodity futures exchange. Serving as a pioneer in the financial landscape, PMEX provides traders with access to a variety of commodities and financial instruments. With a commitment to cutting-edge technology, the exchange operates on the globally acclaimed Meta Trader 5 (MT5) platform, offering seamless and secure trading experiences across diverse markets, including metals, energy, agriculture, and financials.

Operating under a robust regulatory framework, PMEX prioritizes risk management and investor protection. The exchange's technological infrastructure, combined with international affiliations, positions it as a gateway for traders to engage in global markets. With features such as a Business Continuity & Disaster Recovery site and a comprehensive rulebook, PMEX ensures a secure and transparent trading environment for market participants.

Overview of PMEX

Is PMEX legit or a scam?

PMEX, or the Pakistan Mercantile Exchange, functions as an exchange rather than a broker. It is important to note that being an exchange, PMEX does not hold any license to operate as a broker for trading. While PMEX is a legitimate and regulated entity for commodity futures trading, individuals looking to engage in trading activities should seek licensed brokers associated with the exchange to ensure compliance with regulatory standards and a secure trading environment.

Traders should exercise due diligence when selecting a broker and confirm that the chosen broker is duly licensed and regulated by the appropriate authorities. This ensures that they are operating within the legal framework and can provide a trustworthy platform for trading activities on the PMEX exchange.

Pros and Cons

Pros:

  • Diverse Market Offerings: PMEX provides a wide array of trading options, covering commodities and financial instruments, offering traders opportunities in metals, energy, agriculture, and financial markets.

  • State-of-the-Art Technology: The exchange leverages Meta Trader 5 (MT5), a globally acclaimed platform, ensuring a seamless and secure trading experience. This commitment to advanced technology enhances accessibility for global market participants.

  • Global Affiliations: With memberships in international bodies like the Association of Futures Markets (AFM) and Futures Industry Association (FIA), and MoUs with various global exchanges, PMEX facilitates connectivity with the broader international financial landscape.

  • Investor Protection Measures: The exchange implements investor-centric measures, including the Investor Protection Fund (IPF) and segregation of client and broker funds, ensuring a secure trading environment.

Cons:

  • Limited Geographic Presence: PMEX's geographic presence is currently confined to Pakistan, potentially limiting its appeal to a more global audience.

  • Reliance on MT5: While Meta Trader 5 is a robust platform, the exclusive reliance on this technology might pose challenges for traders who prefer other trading platforms.

  • Limited Instrument Variety: Although PMEX offers a diverse range of commodities, the number of available financial instruments may be comparatively limited, restricting the overall market scope.

  • Market Volatility: As with any futures exchange, market volatility can pose risks to traders. PMEX's risk management measures notwithstanding, sudden and significant market movements can impact trading outcomes.

  • Broker-Dependent Experience: The trading experience on PMEX is inevitably tied to the performance and services of individual brokers, and disparities in broker quality may affect the overall user experience.

Pros Cons
Diverse Market Offerings Limited Geographic Presence
State-of-the-Art Technology Reliance on MT5
Global Affiliations Limited Instrument Variety
Investor Protection Measures Market Volatility
Broker-Dependent Experience

Market Instruments

PMEX offers a wide range of market instruments, spanning metals, energy, agriculture, and financial derivatives. Traders can engage in cash-settled futures contracts or opt for deliverable futures contracts, allowing flexibility in trading strategies. The product suite includes commodities like gold, silver, crude oil, natural gas, and agricultural products, along with financial instruments such as equity indices and selected currency pairs.

 Market Instruments

Account Types

PMEX offers a straightforward account structure, primarily focusing on a unified trading account for its users. Clients can open online accounts through a digital process or follow the conventional method, filling out a standardized account opening form. The Exchange emphasizes the importance of accurate information in the account opening process, ensuring transparency and compliance with regulatory standards. The introduction of the Automated Direct Fund Mode (ADFM) provides customers with enhanced control over their funds, allowing direct deposits and withdrawals without broker involvement.

How to open an account in PMEX?

To open an advanced trading account with PMEX, follow the steps below:

  1. Visit the broker's website, register, and receive a User ID and Password via email.

  2. Log in to the dashboard, complete the account opening form, agree to terms, and attach the necessary documents.

  3. After broker verification, details are sent to NCCPL for further processing.

  4. One-Time Password (OTP): NCCPL sends an OTP via SMS for verification.

  5. Log in, enter OTP, and upon successful submission, receive PMEX credentials via email.

  6. Log in to the Back Office Portal to approve the account profile for seamless trading.

Spread and Commission Fees

PMEX operates on a fee structure that includes trading fees and broker commissions. The trading fee consists of a PMEX fee, an SECP fee (10% of PMEX fee), and Investor Protection Fund (IPF) contribution (1% of PMEX fee or Rs. 1.25, whichever is lower). Broker commissions vary among brokers and depend on mutual agreements with clients. The platform ensures transparency in fees, allowing traders to understand the costs associated with their transactions and promoting a fair trading environment.

Leverage

PMEX offers leverage to traders, allowing them to control a larger position size with a relatively smaller amount of capital. Leverage enables traders to amplify their potential returns; however, it also increases the risk of significant losses. The specific leverage ratios may vary depending on the type of futures contracts and are subject to the regulations and policies set by PMEX. Traders should exercise caution and have a clear understanding of the risks associated with leverage before engaging in leveraged trading on the platform.

Trading Platform

PMEX provides a state-of-the-art trading platform for its users. Leveraging Meta Trader 5 (MT5), a globally acclaimed and multifunctional trading platform, PMEX ensures a seamless and secure trading experience. The platform encompasses front-end trading services, a back office, and a market-making system, offering accessibility to global markets and facilitating round-the-clock trading. The adoption of advanced technology enhances user experience and contributes to the platform's reliability and efficiency.

Trading Platform

Deposit & Withdrawal

PMEX facilitates a straightforward and secure deposit and withdrawal process for its users. With the introduction of the Automated Direct Fund Mode (ADFM), clients can directly deposit margins and withdraw funds into their bank accounts without broker involvement.

This unique approach empowers users, providing complete control over their funds while restricting brokers to servicing existing clients and soliciting new business. Online transactions, including Inter Bank Funds Transfer (IBFT), RTGS, and Intra Funds Transfer (IFT), are available through ADFM, ensuring efficient and reliable fund management.

Customer Support

PMEX prioritizes customer support, offering assistance through various channels. For general inquiries and support, individuals can contact the Exchange through phone or email. The customer support team can be reached at +92-21-32460820-6. Additionally, queries and concerns can be addressed via email at info@pmex.com.pk and support@pmex.com.pk.

 Customer Support

Educational Resources

PMEX is dedicated to empowering its users with knowledge through comprehensive educational resources. The Exchange provides a range of educational materials to enhance traders' understanding of commodity futures markets. These resources include webinars, seminars, and workshops that cover various aspects such as market dynamics, trading strategies, and risk management.

Additionally, PMEX offers detailed trading guidelines, ensuring that both novice and experienced traders have access to valuable information for making informed decisions in the complex world of commodity trading. The commitment to educational initiatives reflects PMEX's aim to foster a well-informed and confident trading community.

Conclusion

PMEX, the Pakistan Mercantile Exchange Limited, presents itself as Pakistan's premier multi-commodity futures exchange, providing a diverse range of trading opportunities in commodities and financial instruments. With an industry standard platform, PMEX leverages Meta Trader 5 (MT5), a globally acclaimed trading system, ensuring seamless and secure transactions.

However, a notable concern arises from the fact that PMEX is reported to operate without a license. This raises questions about the legitimacy of its operations and adherence to regulatory standards, potentially impacting the trust and confidence of potential investors. As such, users are advised to exercise caution and thoroughly assess the risks associated with trading on an unlicensed platform.

FAQs

Q: Is PMEX regulated?

A: No, PMEX operates without a license.

Q: What market instruments are available on PMEX?

A: PMEX offers commodities and financial instruments, including metals, energy, agriculture, and financial markets.

Q: How can I reach PMEX customer support?

A: You can contact PMEX at +051-2894003-4 or through email at info@pmex.com.pk and support@pmex.com.pk.

Q: What trading platform does PMEX use?

A: PMEX uses Meta Trader 5 (MT5).

Q: Are there educational resources available on PMEX?

A: Yes, PMEX provides educational resources, despite regulatory concerns.

User Reviews

Sort by content

  • Sort by content
  • Sort by time

User comment

3

Comments

Write a review

moon3794
more than one year
My experience with depositing cryptocurrency was smooth the first time, but the second time was a letdown. Waited for 5 days without any updates on my transaction.
2024-02-07 16:43
Reply
0
0
Tom_Luck
more than one year
I haven't personally traded on PMEX yet, but I've read some positive reviews on forums about its credibility and security. I've also heard from a friend who is interested in trading on the platform. So, I'm curious to know if anyone has any first-hand experience with PMEX and would like to share their thoughts on the platform.
2023-03-27 10:49
Reply
0
0
dinmsamejo
more than one year
please sir hlp
2022-12-09 00:58
Reply
0
2
1
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong China

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com