PNP

PNP, operating under the official name PNP Markets Limited, is an Australia-based brokerage firm that was registered on 27 November 2019. The company's registered address is 1 342 Forest Rd, Hurstville, NSW 2220, and its primary domain is pnpmarkets.com. According to our records, PNP positions itself as a global brokerage offering trading services in forex, precious metals, and crude oil.

Despite being registered in Australia, PNP does not currently hold a valid regulatory license. Its former Australian Securities and Investments Commission (ASIC) license number 001279058 has been revoked, which is a significant red flag for potential traders. The company appears to target international clients, but the lack of oversight raises serious concerns about investor protection.

PNP's regulatory standing is the most critical issue. The broker was previously licensed by ASIC under license number 001279058, but this license has been revoked. This means that PNP is no longer authorised to provide financial services in Australia. The revocation often occurs due to non-compliance with regulatory standards, and trading with an unregulated entity carries heightened risks.

For traders, the absence of a valid license means there is no external dispute resolution mechanism, no guarantee of fund segregation, and no assurance that the broker adheres to fair trading practices. ASIC's revocation indicates that the broker may have failed to meet its obligations, and clients should exercise extreme caution.

According to the company's description, PNP offers Forex, Precious metals, and Crude oil as its market instruments. These are typically traded as contracts for difference (CFDs), which are leveraged products that can amplify both gains and losses. The broker's focus on these asset classes suggests it caters to retail traders interested in speculative trading.

Without independent verification, it is unclear what specific currency pairs, metal types (e.g., gold, silver), or oil varieties (e.g., Brent, WTI) are available. The leverage and margin requirements are also not disclosed. Potential traders should be aware that CFDs are high-risk instruments and are banned or restricted in several jurisdictions due to their complexity.

FXCanary's scam risk score for PNP is 75 out of 100, classified as 'Severe'. This rating is driven primarily by the revoked ASIC license and the lack of current regulatory oversight. The score reflects a high probability of operational risks, including potential issues with withdrawals, order execution, or even outright fraud.

Additionally, the broker's limited public presence and the absence of independent user reviews make it difficult to assess its reputation. Established brokers typically have a track record and community feedback; PNP's obscurity is a cautionary sign. Traders should not deposit funds without thoroughly understanding the regulatory vacuum and the associated dangers.

In summary, PNP Markets Limited is an Australian-registered broker with a revoked ASIC license and a severe risk rating. It offers forex, metals, and oil trading but operates without effective regulatory oversight. The combination of regulatory failure and high risk makes it unsuitable for most traders.

Given the available information, FXCanary advises extreme caution. Until PNP obtains a valid license from a reputable regulator and demonstrates transparent operations, traders should consider alternative brokers with proven regulatory compliance and positive user feedback.