PSB Forex Review

PSB Forex was founded in 2016 in Russia. The broker has established itself as a leading online forex and CFD broker, offering clients a range of trading products and services worldwide. Despite being a relatively new player in the industry, PSB Forex has already earned a reputation for excellence, as evidenced by the positive PSB Forex reviews from clients.

PSB Forex is based in Russia and is regulated and licensed by the Central Bank of Russia, NAFD, and AFD. The broker offers a range of trading products, including forex, stocks, commodities, and indices, and provides clients with access to multiple trading platforms, including its proprietary platform, mobile trading, web trader, and MetaTrader 5. PSB Forex is a trusted and reliable broker that offers a comprehensive trading experience, as reflected in the positive PSB Forex broker reviews from clients. This review will detail everything you should know about the broker. 

Supported Countries

PSB Forex provides trading services to clients in various countries around the world. The broker has a strong presence in Europe, Asia, and Africa and supports clients from countries such as Russia, China, India, Vietnam, Indonesia, Malaysia, South Africa, Thailand, Philippines, Singapore, United Arab Emirates, Saudi Arabia, Egypt, Algeria, Tunisia, Morocco, Ukraine, Belarus, Kazakhstan, and Uzbekistan. 

The list of restricted countries includes Iran, North Korea, Sudan, Syria, and the United States. 

The broker also offers multilingual support to cater to clients in different languages, including English, Russian, Chinese, Arabic, Malay, and Indonesian, ensuring that clients can communicate with the broker in a language they are comfortable with. This feature has helped to establish PSB Forex as a trusted and reliable broker, as evidenced by the positive PSB Forex reviews from clients across different regions and languages.

Customer Service Rating

Regarding customer service, PSB Forex has a team dedicated to meeting clients' needs. There are mixed reviews regarding the broker's customer service, with some clients praising the team for their responsiveness and professionalism, while others have expressed dissatisfaction with the service received. On ForexBrokerz.com, PSB Forex has received a 2.9-star rating for its customer service, suggesting room for improvement in this area. 

The broker has both positive and negative reviews. Some client complains that the broker not supporting their local language. Due to this, the broker's commitment to offering support in multiple languages has increased. It has helped to establish PSB Forex as a trusted and reliable broker among clients who speak different languages.

PSB Forex Trading Platforms

PSB Forex offers various trading platforms catering to different trading styles and preferences. Here's a breakdown of the different trading platforms available:

• MetaTrader 5 (MT5) Platform: This platform is popular among traders due to its user-friendly interface and advanced trading tools. MT5 offers a range of features, including customizable charting tools, real-time market data, and automated trading capabilities.

• Mobile Trading: PSB Forex offers a mobile trading app compatible with iOS and Android devices. The app allows traders to access their trading accounts, monitor market conditions, and execute trades from anywhere at any time.

• WebTrader: This platform is accessible via any web browser and does not require any downloads or installations. WebTrader offers advanced trading tools, including customizable charts, real-time market data, and various technical indicators.

• Social Trading: PSB Forex also offers social trading, which allows traders to follow and copy the trades of successful traders. This is a great option for novice traders who want to learn from more experienced traders and improve their trading skills.

Type of Trading Accounts

PSB Forex offers a variety of trading accounts to cater to different trading needs. Here's a closer look at the different types of trading accounts available:

• Standard Account: This is the most basic account available at PSB Forex. It requires a minimum deposit of $1500 and offers access to all the basic trading features. Traders can trade on both fixed and variable spreads and leverage up to 1:100.

• ECN Account: The ECN account is designed for experienced traders who require tighter spreads and faster execution speeds. The minimum deposit for this account is $2,000, and traders are charged a commission on each trade. Additionally, traders can access the depth of market features and trade on the interbank market with no dealing desk intervention.

• Islamic Account: PSB Forex also offers an Islamic trading account, which complies with Sharia law. This account is interest-free, and traders can trade on variable spreads with no hidden fees or commissions.

• VIP Account: The VIP account is designed for high-net-worth individuals and institutional traders. Traders can access personalized trading support, lower spreads, and faster execution speeds. The minimum deposit for this account is $10,000.

• Segregated Account: PSB Forex also offers segregated accounts designed to protect traders' funds by keeping them separate from the company's operating funds. This ensures that traders' funds are not used for other purposes besides trading activities.

Trading Denominations

The broker accepts multiple currencies, including USD, EUR, RUB, CHF, GBP, JPY, AUD, CAD, and HKD. Clients can choose their preferred currency during the account registration process or switch between currencies anytime through the broker's online platform.

Company Structure

PSB Forex was founded in 2016, making it new in the industry and not up to a decade. Despite this, the company has established itself as a reliable and trustworthy broker for traders worldwide. With its headquarters in Russia, PSB Forex is regulated by the Central Bank of Russia and is licensed by NAFD and AFD. These regulatory bodies ensure that the company adheres to strict guidelines and operates transparently and fairly.

As a relatively new company, PSB Forex has built a strong reputation in the industry by providing a range of trading services and products to clients worldwide. The company currently has over 100 employees who work diligently to provide traders with the support they need to succeed in the markets. Additionally, the company has invested in state-of-the-art technology to ensure traders can access fast and reliable trading platforms.

PSB Forex's company structure ensures traders have access to the best resources and support. The company has a dedicated customer support team that is available 24/5 to assist traders with any questions or issues they may have. Additionally, the company has a team of experienced traders who provide market analysis and trading insights to help clients make informed trading decisions. With its strong company structure and commitment to providing the best possible service to its clients, PSB Forex is a top choice for traders worldwide.

PSB Licenses and Regulatory Compliance

PSB Forex is a licensed and regulated broker that ensures clients' investments are safe and secure. The company holds licenses from the:

• Central Bank of Russia (CBR) with license number 045-14023-020000;

• National Association of Forex Dealers (NAFD) of Russia, and 

• Association of Forex Dealers (AFD) of Russia. 

These licenses allow PSB Forex to offer trading services in compliance with regulations and guidelines set by the regulatory bodies. The licenses were obtained in 2018 and are still valid, demonstrating PSB Forex's commitment to maintaining regulatory compliance.

PSB Customer Protection

At PSB, client funds and personal information protection are paramount. PSB maintains clients' funds in segregated accounts with trustworthy financial institutions, ensuring the security of their assets. Clients' sensitive personal and financial information is protected with advanced encryption technology, providing an additional layer of security.

Moreover, PSB offers negative balance protection to its clients, assuring that their losses are limited to the funds they have deposited into their trading accounts. This is particularly important during market turbulence, safeguarding clients from incurring more significant losses than they can afford. 

PSB is committed to customer protection and has implemented rigorous measures to guarantee its clients' funds and personal information safety and security.

Trading Information

PSB offers various trading assets across different asset classes, with varying minimum trading lot sizes. For forex currency pairs, the minimum trading lot size is 0.01, which is equivalent to 1,000 units of the base currency. For commodities such as gold, silver, and oil, the minimum trading lot size is 0.1, which is equivalent to 10 ounces of gold, 50 ounces of silver, or 100 barrels of oil. 

For indices such as the S&P 500 and the FTSE 100, the minimum trading lot size is 0.1, while for cryptocurrencies such as Bitcoin and Ethereum, the minimum trading lot size is 0.01.

These lot sizes allow for greater flexibility in trading and cater to traders with different risk profiles and trading strategies. Traders can choose to trade with smaller lot sizes to manage their risk exposure or trade with larger lot sizes to earn higher profits potentially. 

Tradable Instruments

Here are the tradable instruments offered by PSB:

• Forex currency pairs: Over 70 major, minor, and exotic currency pairs are available for trading.

• Indices: Trade CFDs on a range of global stock indices, including the US30, UK100, and Japan225.

• Commodities: Trade precious metals like gold and silver and energy products like crude oil and natural gas.

• Stocks: Access over 1,000 stocks from major exchanges like NYSE, NASDAQ, and LSE.

• Cryptocurrencies: Trade popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple.

• Futures: Trade futures contracts on major commodities, indices, and currencies.

Leverage on PSB

PSB offers competitive leverage options for its clients, which allows them to maximize their profits potentially. The maximum leverage available for forex trading is up to 1:500, while for metals, energies, and indices, it is up to 1:200. 

However, it is essential to note that while leverage can increase potential profits, it also increases potential losses. Therefore, clients should exercise caution and thoroughly understand leverage before trading. PSB provides educational resources and support to help clients make informed decisions regarding their use of leverage.

Deposits and Withdrawals

Deposit

The minimum deposit required to open an account with PSB is $1500. Clients can choose from various deposit methods, including bank transfers, credit/debit cards, and e-wallets. Deposits via bank transfer take 2-5 business days to reflect in the trading account, while deposits via credit/debit cards and e-wallets are instant. PSB charges no deposit fees.

Withdrawal

For withdrawals, clients can use the same methods as for deposits: bank transfer, credit/debit cards, and e-wallets. Withdrawals via bank transfer take 3-5 business days to reflect in the client's account, while withdrawals via credit/debit cards and e-wallets take 2-5 business days. PSB does not charge any withdrawal fees.

PSB Trading Education and Training

PSB offers a range of educational resources and training materials for traders of all skill levels. These resources include webinars, e-books, video tutorials, and a comprehensive trading glossary. In addition, the broker provides access to market analysis and economic calendars to help traders make informed decisions. 

With these resources, traders can improve their trading skills and understand the financial markets better. PSB's commitment to trader education sets it apart from other brokers and demonstrates its dedication to helping clients achieve their trading goals.

FAQs

• Is PSB a scam?

No, PSB is not a scam. It is a licensed and regulated forex broker that has been in operation since 2016. It is committed to providing transparent and secure trading services to its clients.

• How to Open a PSB Forex Trading Account?

To open a PSB forex trading account, you need to follow these simple steps:

• Visit the PSB website and click on the "Open Account" button.

• Fill in the registration form and provide all the necessary information.

• Submit the required documents for account verification.

• Make a minimum deposit of $1500 or more, depending on your account type.

• Once your account is verified and funded, you can start trading on the PSB trading platform.

• When can I contact the PSB Forex customer support team?

PSB Forex customer support team is available 24 hours a day, 5 days a week. You can contact them via phone, email, or live chat during market hours from Monday to Friday. 

• Is PSB Forex Affected By Russian Ban?

PSB Forex is one of the Russian banks that is currently blocked in Russia, the US, the UK, and the EU due to Western sanctions. However, it is important to note that not all Russian forex brokers are affected equally by the sanctions and some may face narrower, more targeted restrictions. 

Conclusion

PSB is a forex broker that has been in operation since 2016 and offers a range of services, including forex trading, CFD trading, and cryptocurrency trading. The company has a team of professionals who are dedicated to providing quality services to their clients. PSB is licensed and regulated by several regulatory bodies, ensuring the safety of clients' funds.

Furthermore, PSB offers a variety of trading accounts, trading platforms, and tradable instruments to cater to the needs of different traders. The broker's trading conditions, such as low spreads and high leverage, make it attractive to traders looking for profit opportunities. PSB also provides educational materials and resources to help traders improve their trading skills.

PSB is a reputable forex broker that provides a safe and reliable trading environment for traders. The company's commitment to customer protection, advanced technology, and high-quality services make it an attractive option for both novice and experienced traders. With its competitive trading conditions, professional customer support, and diverse range of offerings, PSB is a broker worth considering for traders looking to invest in the forex market.