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Pari Fx Trade Review - is it scam or safe?

Pari Fx Trade Review - is parifxtrade.com scam or good forex broker?

RATING: 1 / 0 REVIEWS Pari Fx Trade
Pari Fx Trade is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit  . leverage  Spread
Standard  N/A 1:400 N/A

 

Pari Fx Trade presents itself as a forex and CFD broker, but its offer is utterly unclear, and the corporate situation appears to be even more messy. Read the full review to see both the strong and weak sides of this broker and why we ultimately gave them this low score.

 

 

Pari Fx Trade Advantages

 

Many financial instruments

The broker claims to offer trading in more than 250 financial instruments, covering various asset classes such as forex, indices, commodities, precious metals, stocks, and some of the most popular cryptocurrencies.

 

That being said, we always urge our readers to invest only in well-regulated companies. As this is not the case with Pari Fx Trade, you’d better select among the below brokers, all of which are reliable and offer trading in Bitcoin CFDs.

 


>> Licensed Bitcoin Forex Brokers <<

 

 

Up to 1:400 in leverage

Clients of this broker may use leverage of up to 1:400. Currently you can find leverage as high as this only with unregulated brokers like Pari Fx Trade, or with financial services providers licensed in Australia - the last major regulatory hub where the leverage available to retail traders is not restricted.

 

All across Europe, the US, Canada and Japan leverage levels were capped in a coordinated effort to limit the investment risk for retail traders. Still, if you are tempted to trade with higher leverage, here you may check our list of brokers regulated in Australia:

 

 

>> Brokers licensed in Australia <<

 

 

Pari Fx Trade Disadvantages

 

False claims of regulation, a clone firm

The broker brand is allegedly operated by Pari Fx Trade LLC and Pari Fx Trade Holding limited, and claims to be licensed by the Cyprus Securities and Exchange Commission (CySEC), the U.S. National Futures Association, and the FSC.

 

 

When we checked the CYSEC and NFA registration numbers, we discovered that they belong to BDSwiss, and it seems that the above mentioned companies do not even exist. In other words, the Pari Fx Trade operates as a clone firm, illegally using the details of a forex brokerage that is regulated in Cyprus.

 

We have to stress the fact that companies that present such purposefully misleading information should be avoided at all costs. They are following the pattern of scam brokers out there and are not bound by any government regulator.

 

Blacklisted by CySEC

Although the broker is not authorized to provide financial services on any regulated market, it seems to offer its “services” in Europe, because the Cypriot financial watchdog CySEC has warned that parifxtrade.com does not belong to a licensed entity.

 

 

Trading conditions not disclosed

Pari Fx Trade has not presented clearly any trading conditions and account types on its website. It’s not even clear what is the trading platform the broker offers. When browsing through the broker’s website, we keep ending up on BDSwiss’ site.

 

The lack of clarity and transparency regarding a forex broker’s key trading conditions such as spreads, minimum investment required, etc., always leaves a bad impression, and is actually very common among scam brokers.

 

Could not open an account

Pari Fx Trade doesn’t offer demo accounts, do we signed up for a live one, however it turns out that registrants have to be approved by some monitoring team, whatever that means.

 

 

Conclusion

 

Overall, Pari Fx Trade is a clone with no license and utterly unclear offer, which has been flagged as a potential scammer by the financial authorities in Cyprus. So, traders should direct themselves to better trading options to which we have linked throughout this review. 

 

Unfortunately, the financial markets are plagued with fraudsters, trying to scam investors in every possible way. Therefore, we urge traders to exclude such risk in trading by only investing with brokers licensed by prestigious regulatory agencies, such as the Financial Conduct Authority (FCA) in the UK or ASIC in Australia.

 


>> Looking for a well-regulated broker? <<

 

 

And finally, here are the highlights of the present review of Pari Fx Trade:

 

Pros Cons
Wide range of tradeable assets False claims of regulation, a clone firm
Up to 1:400 in leverage Blacklisted by CySEC
  Zero clarity on trading conditions
  Could not open an account  

 

Latest news about Pari Fx Trade
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Traders` reviews for Pari Fx Trade

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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