Parantoux Trading Review- Scam Broker Complaint
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Parantoux Trading Scam broker Review by Fraud Brokers
The broker Parantoux Trading claims to be the world leader in providing managed trading services and education. The broker has six distinct trading accounts but available spreads and leverages are not shared on the official website. Also, the broker claims to be operated from Hong Kong. However, whatever the broker’s claim maybe it is not a regulated firm. If any of our readers already trading with it or wants to trade, better read this exclusive Parantoux Trading review, first.
About Parantoux Trading:
The provided six managed trading accounts are Trial, Bronze, Silver, Gold, Platinum, and Diamond that need initial funding of $500, $5000, $20000, $50000, $100000, and $250000 respectively. We believe in unprejudiced and informative review and for the same, we will discuss the possible benefit and drawbacks of Parantoux Trading simultaneously.
However, while looking at the overall picture of Parantoux Trading we can only say that the provided trading platform MetaTrader is the only benefit. The MetaTrader has many advanced features like Expert Advice, Automated Trading, A1 trading charts, many Market Indicators, and Multi-Account Trading are few to cover. It is also trusted by about eighty per cent of traders in the world.
The broker claims to have offices in places like New York, Hong Kong, Singapore, and Gibraltar. Nevertheless, we could not find further information about corporate status anywhere on the official website of it. It means we have an anonymous website that shares neither trading conditions nor corporate status. Furthermore, such unregulated and unlicensed nature of this broker was noticed by United Kingdom-based local financial regulated Financial Conduct Authority. The financial watchdog FCA blacklisted this broker for providing illegal brokerage services.
However, the broker also acts as a Market Maker that means the broker trades on behalf of traders causing trades loss and benefiting itself. Also, such managed accounts are banned in regulated trading markets. The initial deposit if $500 for a Trial account is quite high and after one month of trading it is mandatory to convert from the Trial account with other accounts, depositing above mentioned amounts requiring $5000 and above investments.
Is Parantoux Trading scam or legit?
The broker is not licensed to offer its services in the regulated markets. The trading condition is not disclosed fully and initial funding to any of the accounts is very high. Most of the claims of Parantoux Trading are false and the broker is not trustworthy. Hence, we can claim Parantoux Trading is a potential forex scam.