This review proves that the investment platform PetronPay is a scam that can’t make you any legitimate money.
What is PetronPay
PetronPay is presented as an investment platform that will make you money. It supposedly will allow you to invest in petroleum (oil) and make up to 2.5% daily returns on investment.
The minimum investment is 25 USD.
The platform also has a referral program that will earn you money if you refer active people to the system. You can get a certain percentage of their deposits and even win prices like paid trips.
PetronPay is supposed to be located in Zurich, Switzerland.
The key question is if you can trust PetronPay with your money, is it really a sound investment opportunity?
Is PetronPay legit?
No, Petron Pay is not legit. And you don’t have to trust us when we say it, because it is a statement made by the Swiss financial regulator FINMA.
PetronPay claims to be based in Switzerland, however it is not registered there as a company. What’s more, it does not have the license to provide investment services, so it was blacklisted by the FINMA.
You see, PetronPay is in fact selling investment contracts, which are securities, so it needs authorizations from financial regulators. But it does not have any authorization whatsoever, which means that it is an illegal investment service.
This alone is a very good reason to stay away from it.
Petron Pay is in fact a scam. And normally you should not even need the warning from the FINMA to understand it.
Because the idea of getting 2.5% daily returns from investing in oil is absolutely ridiculous. It would mean 75% per month, which is something that the vast majority of world’s top investment companies won’t make in a year. None of them will make that monthly.
We repeat this in almost every review, but it really is a simple rule of thumb. If you see a promise of 1% or more daily returns, you can be sure it’s a scam. Especially when it comes from a company that is not authorized to provide any kind of financial services.
It’s a quick method to spot scams, most of the times it takes about one minute to understand that you are dealing with a scam and you can move on.
How PetronPay really works
People often come to us and argue that a program we labelled as a scam cannot be a scam because it is paying. But it is wrong. Because a lot of these frauds are Ponzi schemes.
This means that they just take money from new members and use it to pay older members. They create no new values or profits, the just redistribute money from certain people to others.
Because in the beginning the amount of money flowing into these pyramids is often growing, they can afford to pay the profits for a certain period of time. But it always is a limited period of time because the model is unsustainable and will always fail in the end.
Even if you manage to make some profits in a Ponzi scheme, it always will mean that a lot of other people will get scammed and lose. You don’t want to base your income on other people being scammed, do you?
Moreover, you never really know when a Ponzi scheme like PetronPay is going to collapse. It can be any time, maybe right after you make your deposit. These fraudulent programs are very dangerous and you should automatically stay away from them in order not to get hurt and not to hurt others.
PetronPay review – The conclusion
PetronPay is an investment scam that has been blacklisted by the Swiss financial regulator FINMA. If you don’t want to lose money, stay away from it!
Investing is a legitimate opportunity, but it is not easy to make money in it. You can try it on a free demo account with a regulated broker. You will get virtual money and you can test investing in oil for example.
Should you later decide to invest real money, please be careful, understand the risks and use only money that you can afford to lose.