PixPal Pro and Intellect Bank on the list of KNF warnings

On June 28, 2023 Polish Financial Supervision Authority announced the addition of two new entities to the list of warnings - PixPal Pro and Intellect Bank. In both cases, in in connection with the conducted activity, a notification was submitted to the prosecutor's office about the commission of a crime. Details below.

Beware of PixPal Pro and Intellect Bank

Pix Point Consulting / Pix Consulting Limited is an entity that uses the pixpalpro.com domain, where it offers brokerage in trading on CFD instruments. “Customers” (or rather potential victims) can choose from currencies, commodities, stocks and indices. The company boasts that it employs over 3 employees (much more than the most popular Forex brokers) and has over 100 clients. PixPal Pro informs that it is registered in Great Britain, however, on the website of the local regulator there is information from May 2023 that this company does not have a local license.

In the case of Intellect Bank, the domain has already been effectively blocked, but it is possible that the fraudsters will soon return to a different address with only a slightly modified name, but with the same "business profile".

The official reason for including both entities on the list of warnings is the lack of required licenses and permits to conduct trade brokerage activities in Poland (and the European Union).

The following entities were included in the KNF list:

• Pix Point Consulting LTD and Pix Consulting Limited, providing services through the Pix Pal Pro platform operating through the website pixpalpro.com
• Intellect Bank, operating via the website https://bi-internetowe.com

Stay alert!

We warn against using the services of unlicensed companies. Before opening an account, always make sure it is correct the broker has the appropriate regulations and permits at the indicated financial market supervisory institution.