Permian Trade / permiantrade.com has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". Firm states on website they are registered with The FCA when not - Breach of s24 This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.permiantrade.com.
Permian Trade / permiantrade.com 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: No hidden fees|Smooth onboarding|Fast support response|Customizable dashboard
Cons: No integrated tax optimization|Email notifications too frequent
Permian Trade / permiantrade.com locked my account without warning and demanded documents I had already submitted. for over three years later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Personal attention|Educational resources
Cons: No live chat on mobile|Search feature is basic
I was about to invest with Permian Trade / permiantrade.com but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Conduct Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Pros: Website looks legitimate on the surface
Cons: Unauthorized firm|Found in IOSCO warnings database
Tried to withdraw my funds from Permian Trade / permiantrade.com and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
The reporting at Permian Trade / permiantrade.com is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Transparent fees|Risk management tools|Fast deposits
Cons: Inactivity fee applies after 12 months|Desktop app not available on Linux
After for the past six months with Permian Trade / permiantrade.com, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Demo account available|Easy to use platform
Cons: Cannot customize dashboard fully|Help articles are sometimes vague
If you are reading this considering Permian Trade / permiantrade.com - run. I wish I had read more negative reviews through word of mouth in my investment club. I thought the positive ones were real. Maybe some are. My experience over for a few weeks now has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: No hidden fees|Automated trading options
Cons: Limited ETF selection|Minor UI glitches occasionally
Permian Trade / permiantrade.com 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: Intuitive for beginners|Two-factor authentication|Comprehensive tools
Cons: No fractional shares