Patrex Global Wealth has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Patrex Global Wealth advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Wide product range|Copy trading available
Cons: No crypto staking|Some tools only available on higher tiers
Patrex Global Wealth seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Good analytical tools|Great customer service|High security standards|Social trading features
Cons: Nothing significant
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Patrex Global Wealth is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
Patrex Global Wealth has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Regular platform improvements|Wide product range|Copy trading available
Cons: Website design could be more modern
KYC with Patrex Global Wealth is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Intuitive for beginners|Fast deposits|Copy trading available|Comprehensive tools
Cons: No live chat on mobile|No dark mode on mobile
After seeing ads for Patrex Global Wealth online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Markets Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
The mobile app from Patrex Global Wealth is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Easy to use platform|High security standards
Cons: Limited cryptocurrency options
Customer support at Patrex Global Wealth seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Segregated accounts|Copy trading available|Educational resources
Cons: Spreads widen during volatile periods
I opened an account with Patrex Global Wealth since last summer ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Detailed reporting|Segregated accounts|Copy trading available
Cons: Search feature is basic