$PUN has been flagged by Securities and Exchange Commission for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: https://punishercoin.com.
I looked into $PUN and found they appear in the regulatory warnings database. Securities and Exchange Commission has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
$PUN 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: No hidden fees|Clear documentation|Comprehensive tools
Cons: Limited cryptocurrency options
The hidden fees at $PUN are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Portfolio tracking tools|Instant funding
Cons: Alert system is basic|Limited ETF selection
I was about to invest with $PUN but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Securities and Exchange Commission has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
KYC with $PUN 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: Two-factor authentication|Demo account available
Cons: Currency conversion fee exists|Charting tools need more indicators
Where do I even begin with $PUN? for over three years of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Responsive team|Fast execution
Cons: No phone support on weekends|Inactivity fee applies after 12 months
The onboarding at $PUN was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Great customer service|Stable platform|Fast deposits|Transparent fees
Cons: Wait times can be long during peak hours|Mobile app could be improved
After doing some research AFTER the fact (I know, I should have done this first), I discovered that $PUN 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: No regulatory oversight|Money disappeared|Fake testimonials
$PUN 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: Great customer service|Detailed reporting
Cons: Help articles are sometimes vague|Desktop app not available on Linux