Peimax (peimax.com and peimax.finance) has been flagged by ASIC (Australia) for "Unlicensed". Phones: 61431320336
Addresses: 300 Barangaroo Ave Barangaroo NSW 2000 Australia This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: peimax.com.
Peimax (peimax.com and peimax.finance) changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Multiple order types|Multi-currency support|No hidden fees
Cons: Spreads widen during volatile periods
I wanted to transfer my portfolio from another broker to Peimax (peimax.com and peimax.finance). They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Regular platform improvements|Low minimum deposit
Cons: Wait times can be long during peak hours
My card was charged twice by Peimax (peimax.com and peimax.finance) on the same day. I had to dispute it with my bank. Peimax (peimax.com and peimax.finance) then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Dividend tracking|Low minimum deposit|Good analytical tools
Cons: Help articles are sometimes vague|Could offer more webinars
I had high hopes for Peimax (peimax.com and peimax.finance) after reading several online reviews, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Demo account available|Low minimum deposit|Dividend tracking|Full transparency
Cons: Limited cryptocurrency options|Alert system is basic
Customer support at Peimax (peimax.com and peimax.finance) 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: Multiple order types|Portfolio tracking tools
Cons: Help articles are sometimes vague|Limited social trading features