www.payback-recovery.com has been flagged by ASIC (Australia) for "Unlicensed". https://asic.gov.au/about-asic/news-centre/news-items/alert-money-recovery-scam-using-fake-documents-to-impersonate-asic-www-payback-recovery-com/#:~:text=ASIC%20is%20alerting%20consumers%20about,.payback%2Drecovery.com. 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.payback-recovery.com.
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. www.payback-recovery.com said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Market news feed|Clean UI
Cons: Desktop app not available on Linux|No phone support on weekends
The only good thing about www.payback-recovery.com is that they remind you why regulation matters. I found them after hearing about them at a conference. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Transparent fees|Portfolio tracking tools
Cons: Withdrawal takes 1-2 business days
Do not be fooled by the professional-looking website. Behind the scenes, www.payback-recovery.com is disorganized and incompetent. I found them after attending a webinar they hosted and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Full transparency|Reliable uptime|Fast deposits
Cons: Currency conversion fee exists
Where do I even begin with www.payback-recovery.com? for a few weeks now 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: Market news feed|Multi-currency support
Cons: Search feature is basic
The mobile app from www.payback-recovery.com 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: Tax reports included|Low minimum deposit|Reliable uptime
Cons: Some tools only available on higher tiers|Currency conversion fee exists
www.payback-recovery.com offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Low minimum deposit|Real-time alerts|Wide product range
Cons: Website design could be more modern
I experienced a security concern with my www.payback-recovery.com account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: API access|Instant funding|Good analytical tools
Cons: Mobile app could be improved|Limited ETF selection
www.payback-recovery.com has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Professional team|Easy to use platform|Clean UI|Multiple order types
Cons: Limited cryptocurrency options
I wanted to transfer my portfolio from another broker to www.payback-recovery.com. 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: Competitive fees|Easy withdrawals|Quick verification|Comprehensive tools
Cons: No dark mode on mobile|None so far
If you are reading this considering www.payback-recovery.com - run. I wish I had read more negative reviews after comparing multiple platforms. I thought the positive ones were real. Maybe some are. My experience over for about ten months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Demo account available|Quick verification
Cons: Help articles are sometimes vague|Desktop app not available on Linux