PitRex Review
If you’re curious whether installing an app can genuinely earn you 2,000 EUR, our PitRex review will provide clarity. Below, we’ll explore the firm’s legal standing, ownership claims, trading features, and more.
Is PitRex Legit?
PitRex is purportedly a brand of Pitrex LLC, registered in Washington, USA. However, a thorough search of Washington’s company register reveals no such entity. This indicates that their incorporation certificate is fabricated.
Additionally, while PitRex claims to have been operating since 2016, discrepancies in their domain registration tell a different story:
- pitrex.pro was registered in April 2024.
- pitsp.com, used for account login, was registered in 2016 but underwent a change in ownership and renewal in January 2024.
To make matters worse, PitRex lacks authorization to provide financial services and is absent from regulatory bodies such as the CFTC, NFA, or any equivalent global agency.
Who Are the Victims of the PitRex Scam?
According to PitRex reviews and website traffic analysis, the firm primarily targets users in:
- Turkiye
- Croatia
- United States
- Israel
- Germany
If you’ve been a victim or know someone affected, sharing your experience could help others avoid this scheme.
What Are Traders Saying?
A PitRex Reddit thread sheds light on the firm’s dubious practices. Many users question the validity of its bold claim of earning 2,000 EUR through a simple app installation. Responses overwhelmingly label it a scam, citing the company’s fake incorporation documents, absence of a physical address, and lack of transparency.
PitRex Trading Platform
PitRex claims to employ cutting-edge technology for quantitative trading strategies. However, in reality, it offers only a basic WebTrader platform, far inferior to professional tools like MetaTrader or cTrader.
Moreover, the PitRex app can only be downloaded via a QR code, which is suspicious since it’s not available on trusted platforms like the App Store or Google Play.
Available Trading Assets
PitRex exclusively offers cryptocurrency trading. Despite their claims of providing unique industry insights and advanced tools, the truth is far less impressive. Users are limited to trading a single asset class through an unregulated scheme.
Leverage, Commissions, and Spreads
PitRex provides no clear information about its fees, leverage, or spreads. Instead, their website is filled with references to partnerships with reputable firms like IBM and Deloitte—claims that cannot be verified.
Their legal documents, poorly drafted with generic placeholders like “[Your Jurisdiction],” further expose the platform’s lack of professionalism.
Affiliate Program
PitRex offers an affiliate program with commissions ranging from 3% to 20% based on the number of recruits. However, promoting an unregulated and fraudulent business is risky and can harm others financially.
Customer Support
The only way to contact PitRex is via a web form. This limited and unresponsive approach to customer support highlights the company’s unserious and unprofessional nature.
Deposit and Withdrawal Methods
PitRex requires deposits via USDT, but the minimum deposit amount is undisclosed. There’s also no information about commissions, withdrawal methods, or payout fees. This lack of transparency makes it nearly impossible to retrieve funds once deposited.
Key Takeaways About PitRex
Based on the evidence, it’s clear that PitRex is a fraudulent operation. Key red flags include:
- Fake Incorporation Claims: No registration in Washington, despite their claims.
- Unregulated Status: Absence from all major regulatory bodies, such as the CFTC or NFA.
- Opaque Operations: No transparency regarding deposits, withdrawals, or fees.
- Dubious App Distribution: The app isn’t available on trusted platforms and must be downloaded via a QR code.
- Nonexistent Customer Support: Limited to an ineffective web form.
If you’ve already fallen victim to PitRex, report the incident to your local authorities and financial regulators. Taking swift action can help others avoid similar scams and potentially aid in recovering your funds.
