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.
I referred a friend to www.payback-recovery.com after doing extensive research. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Tax reports included|Helpful community forum|Comprehensive tools
Cons: Slow to add new assets
I requested my data from www.payback-recovery.com under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Automated trading options|API access|Clear documentation
Cons: Live chat only during business hours
After using www.payback-recovery.com for just over a year, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: Low minimum deposit|Risk management tools|Tax reports included
Cons: Wish they had more educational resources|No dark mode on mobile
I lost a significant amount because www.payback-recovery.com did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Social trading features|Regular updates|Professional team|Competitive fees
Cons: No fractional shares