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Forest Park FX Review - is it scam or safe?

Forest Park FX Review - is forestparkfx.com scam or good introducing broker?

RATING: 3 / 1 REVIEWS ForexBrokerz Forest Park FX
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Trading Accounts and Conditions

 

Forest Park FX operates globally as an introducing broker (IB) of some of the major forex and CFD providers. Essentially, an IB acts as an agent which introduces new customers to a Forex brokerage for which it is, of course, paid a certain commission (a mark-up on the spread or a commission charged by the broker).

 

As an IB, Forest Park FX is supposed to be offering the same trading conditions as the Brokers it introduces to clients. 

 

For example, if you choose to open an account with recently launched IG US via Forest Park FX, the trading conditions applicable for you will be the following:

 

-          - The minimum investment required is $250;

-          - The average spread is 0.8 pips on EUR/USD;

-          - The maximum leverage is up to 1:50 and hedging is not allowed (as per the regulations applicable in the USA);

-          - Access to IG’s MetaTrader 4 platform;

 

Actually, you may check pout the different trading conditions offered by each of Forest Park FX’s affiliates on its website. It seems that this Introducing broker is as transparent about its pricing as possible.

 

 

The Company. Security of Funds

 

It seems that this introducing broker means serious business. First of all, we must mention that Forest Park FX has partnered only with forex brokers that are authorized and regulated in all the countries of their operation.

 

 

Click to view full size.

 

Second, Forest Park FX is owned and operated by Ambassador Capital Management, LLC, which is registered in the US National Futures Association as Introducing Broker (NFA ID# 0457189). Another US company is in charge of the broker’s operations outside the US - Forest Park FX, LLC. Meanhile, Forest Park FX Limited is authorized and regulated by the Financial Conduct Authority in the UK.

 

The US forex market is one of the most heavily regulated ones. While this might be good in terms of investor protection, some of the rules imposed are considered too restrictive.

 

US Forex brokers must be regulated by the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC). They are required to hold and maintain a net capital of at least $20 million to guarantee customers’ positions, which is the highest minimum capital requirement worldwide. Moreover, hedging is not allowed and leverage is limited to 1:50, as we already mentioned above.

 

 

Partners of Forest Park FX

 

 

Here is a list of the forex brokers Forest Park FX works with by region of operation:

 

-In the United Sstates of America

Forex.com, IG, Oanda

 

-In the European Union and the & EEA

FXCM UK, IG Markets, Forex.com UK, Oanda UK, FxPro, Hantec Markets, IC Markets, FXDD, Global Prime, Pepperstone UK, Think Markets, AxiTrader, Alpha Capital Markets, Equiti Global Markets

 

-In other areas

FXCM, IG, Forex.com, Oanda, FxPro, Hantec Markets, IC Markets, FXDD, Global Prime, Pepperstone, Think Markets, AxiTrader, Alpha Capital Markets, Equiti Global Markets

 

 

Conclusion

 

Forest Park FX offers a wide variety of services and solutions for retail traders, including market access through the world’s top forex brokers, built-to-specification trading algorithms, and high volume and high frequency traders.

 

The broker has partnered solely with duly licensed brokers and is itself a NFA member, which provides significant assurance for the security of its clients’ funds. Besides, it seems to be pretty transparent about the trading conditions it offers. 

 

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Traders` reviews for Forest Park FX

Spread

Pros

Cons

 

 

Slippage

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Cons

 

 

Requotes

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Price feed

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Cons

 

 

Platform

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Cons

 

 

Deposit/Withdraw

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Cons

 

 

Customer service

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Cons

 

 

Summary

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