Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
9/10 · CriticalTakes deposits with no verified licence anywhere; absent from the FSC Mauritius register and promotes a company registration number as if it were a licence.
Identity & transparency
6/10 · HighEntity and address are stated but unverified, ownership is opaque, and the site is now offline; a company registration is dressed up as regulation.
Withdrawals & conduct
6/10 · HighFund integrity complaints (non payment past 40 days, profits withheld, pressure to deposit) but the cross platform pattern is only partly confirmed.
Reputation
6/10 · HighMultiple sources flag it as unregulated and risky with withdrawal complaints, offset by a few positive service reviews; no warning list hit on the exact domain.
Website claims
9/10 · CriticalClaims FSC Mauritius regulation it does not hold and presents a Global Business Company registration as a trading licence.
Operational history
5/10 · ModerateAbout three years from the 2023 domain registration; company incorporation date could not be confirmed and the site is now down.
Who they are
A quick desk file on the company behind the brand.
- Brand: PM Financials
- Legal entity: PM Financials Ltd
- Registered: Silicon Avenue, 40 Cybercity, The Catalyst, Ground Floor, Ebene 72201, Mauritius (an address we could not independently verify)
- Website: pmfinancials.mu (currently returning an error page)
- Only licence claimed: FSC Mauritius, number GBC2220942, which is not on the FSC register
- Offers: forex and CFD trading across several asset classes
- Age claim: around 2023; the domain was registered in July 2023
- Not accepted: not clearly disclosed
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Financial Services Commission (Mauritius)
Why we reached this verdict
How the evidence adds up.
Several independent findings point the same way.
- We checked the FSC Mauritius Online Public Register directly. A search for 'PM Financials' returns nothing, and a broader search for 'Financials' lists 13 licensed firms, none of them PM Financials. A firm taking client money for trading while advertising a regulator that does not list it is misrepresentation.
- The credential it promoted, GBC2220942, is a company registration format (Global Business Company), not an investment dealer licence. A company registration does not authorise anyone to run a brokerage or hold client trading funds.
- Independent review records describe the classic fund access problem: withdrawals approved on paper but not paid after 40 days or more, profits not paid back, and account managers pressing clients to deposit more.
- The public site now returns an error page, yet the domain was renewed into 2028 and a fresh security certificate was issued in August 2026, so the operator has not simply walked away from the name.
Note on operating history: the 3.1-year track record rests on domain registration alone. No company incorporation date could be established, so this is an upper bound rather than a confirmed age.
Evidence ledger
Every finding, with its source and how strongly it points.
E1A name search of the FSC Mauritius Online Public Register returns no PM Financials entry; a broader 'Financials' search lists 13 licensed firms, none of them PM Financials. The claimed FSC regulation is not on the register.
E2The broker advertised FSC regulation under number GBC2220942. That format is a Global Business Company registration, not an investment dealer licence, so a company registration is being presented as authorisation to run a brokerage.
E3The operation solicits retail clients for forex and CFD trading and takes deposits while holding no licence verifiable on any register.
E4Users report withdrawals approved but not received after 40 days or more, profits not paid back, and account managers pressing for further deposits.
ModerateIndependent broker review recordE5The domain pmfinancials.mu was registered on 18 July 2023 and expires in 2028, giving an operating history of roughly three years.
ModerateRDAP domain recordE6The public website now returns a 404 error, yet security certificates for the domain were still being issued as recently as August 2026, so the operator retains control of the name.
ModerateCertificate transparency recordsE7No regulator warning list found naming the exact domain pmfinancials.mu as of the scan date.
E8Alongside the complaints, some users report positive experiences with the platform and customer service, so outcomes are mixed rather than uniformly negative.
The other side
The strongest case in this broker’s favour.
In fairness to the company, we looked for innocent explanations.
- Mauritius has a genuine, real regulator (the FSC), and it is possible a Global Business Company by this name was incorporated there. We could not open the Mauritius corporate registry to confirm the GBC number, so we cannot rule out that a shell company exists. That still would not be a trading licence.
- Some users report positive experiences with the platform and customer service, so not every account holder had a bad outcome.
- Register entries can lag new approvals by weeks. We allowed for that, but this operation has been running since 2023, which is far longer than any normal approval delay.
- We found no regulator warning naming the exact domain, so this is a conduct and licensing case rather than a published enforcement action.
What would change this
What we would need to see to revise the verdict.
We would revisit this verdict if any of the following turned out to be true.
- The FSC Mauritius register begins listing PM Financials Ltd with a genuine investment dealer licence in force.
- A real, resolvable FSC investment dealer licence number (not a company registration) is published and matches this entity and website.
- A consistent, checkable pattern of clients being paid their full withdrawals appears across independent platforms.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Frequently asked questions
Quick answers about this broker’s safety.
Is PM Financials a scam?
On the evidence we treat it as likely unsafe. It advertises FSC Mauritius regulation that the official register does not support, and users report withdrawals and profits not being paid. We rate it LIKELY_SCAM.
Is PM Financials regulated?
No verified regulation. We searched the FSC Mauritius register by name and found no PM Financials entry. The number it promoted, GBC2220942, is a company registration format, not an investment dealer licence.
Can I withdraw my money from PM Financials?
Several users report that they could not. Complaints describe withdrawals approved but not paid after 40 days or more, and profits that were never released. Request everything now and keep records.
Is my money safe with PM Financials?
There is no evidence it is protected. With no verified licence, there is no compensation scheme and no regulator you can escalate to for a refund of client funds.
What is a GBC number and is it a licence?
GBC stands for Global Business Company, a Mauritius company category. A GBC registration is not authorisation to run a brokerage or hold client trading funds. It should never be presented as a trading licence.
Who owns PM Financials?
The site names the legal entity PM Financials Ltd with a Mauritius cybercity address. We could not confirm the company or its owners in a corporate registry, so ownership is effectively opaque.
How old is PM Financials?
The domain pmfinancials.mu was registered in July 2023, so the operation is around three years old. Reviews also put its start at 2023.
Is PM Financials a clone of another broker?
We found no evidence it is impersonating a specific well known regulated firm. It appears to be its own operation, not a clone.
Why does the PM Financials website not open?
The public site currently returns an error page. The domain is still registered to the operator and was renewed into 2028, so the name is still controlled even though the site is down.
What should I do if I was scammed by PM Financials?
Stop depositing, gather your transaction records, and file a complaint with the Financial Services Commission of Mauritius. If you paid by card or bank transfer, ask your bank about a chargeback or recall, and be wary of anyone who offers to recover your funds for an upfront fee.
What we recommend
The practical takeaway from everything above.
Treat this broker as high risk.
- Do not deposit new money with PM Financials.
- If you hold a balance, request a full withdrawal now and keep dated records of every request and reply.
- Do not pay any extra fee, tax or deposit that is demanded before a withdrawal is released. That is a common trap.
- Check any broker yourself on the FSC Mauritius register before funding an account, and report problems to the FSC complaints portal.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed August 31, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.