Parantoux Trading (Parantouxtrading.com) is claiming to have rocket solid security and yet can’t seem to release funds. ParantouxTrading is claiming to have risk mitigation as all trades carry a 3 percent trailing stop-loss order. Other claims we saw listed include delivering lightning fast execution and cutting out brokerage fees. These claims would be ideal if only the platform was genuine. Read this honest and transparent PARANTOUX TRADING Review for more.
The reason why we conducted this review was due to the rising complaints against the platform. Parantoux Trading is without a doubt one of the most horrific trading platforms of our time. The platform lures investors to sign up with their false claims and never met their end of the bargain. Once you deposit funds with this platform, it is the last you will see of it. And this is why you must stay away and avoid associating with them. A real broker is one who comes recommended and is trusted by the trading community.
Parantoux Trading is claiming to be a leading online trading firm that started in 2016. They claim to offer a full line of managed products and tools designed to help investors. The problem with their statement is lack of any solid proof of their tools making any profit. Smart investors know which available tools to use that help them make profit and stay safe. Become one of the investors with a profit margin that is achievable with real trading tools. Go for Forex trading robots with a proven track record. Any other trading tool will not meet the standards required for a successful trading period.
A look at the trusted domain website whois.net reveals that the platform is giving false information. According to whois.net, Parantoux Trading is a website that was created on 5th November 2019. The platform is barely a year old and yet claims to have over four years of trading experience. Scam artists will do or say anything to try and make their platforms appear legit. And this is why you need to read reviews before you commit yourself to a broker. With an experienced investigation team, we ensure no stone is left unturned.
According to their history page, the platform claims to have over 100 years of trading experience. The experience is shared between the team that has helped build a strong online experience. Why have they failed to give actual names of the team members behind this platform? We don’t know any of the founding members or staff members who handle funds. No social media handle has been posted for communication and verification purposes. And this makes Parantoux Trading an anonymous trading platform.
And this is where we get solid proof that this platform is a hoax. According to their homepage, they have several offices around the world. Some of the locations mentioned include Gibraltar, Hong Kong, New York, and Singapore. We reached out to regulatory bodies in these regions and none has any platform licensed under this name. Closer home, the National Futures Association has no platform license under this name. And this is concrete proof Parantoux Trading IS NOT LICENSED OR REGULATED to offer any financial related services.
Parantoux Trading is furnishing traders with five different account types to choose from. The accounts listed include Bronze, Silver, Gold, Platinum, and Diamond. Other accounts listed include a trial MTA and demo account. Bronze account is the basic type and investors must deposit a minimum of $5,000 to start trading. The industry has set $250 as the acceptable minimum deposit. Any platform that is charging a higher amount should be disregarded as it is stealing from investors.
These accounts have a duration which is not an acceptable term. Most of the accounts have a 90 day waiting period before you can roll over to the next account. And this means traders cannot go to the next level if they miss a day of trading. You also get to withdraw your profits after ninety days according to the information listed. And this is a huge problem as investors should be able to withdraw funds as they wish. Parantoux Trading is using stringent measures to ensure no one makes withdrawals.
According to their commission structure, traders don’t get all the profit. Traders get 70 percent of the commission while 30 percent are paid to a trader. And this means you will not get all the profit as you would in an approved platform. Members are also giving control of their funds to third party which is a huge problem. These traders may be in league with other brokers to commit fraud. Your losses mean they gain more.
Parantoux Trading is using two communication methods, email and phone calls. The problem with emails is that it may take long before you get a response. Scam artists will purchase virtual phone numbers to act as contact details for their preferred location. And this makes it impossible for anyone to trace where the platform is based. Their communication channels are wanting and its best to go for a platform with live chat support.
Another problem we noticed with Parantoux Trading is with their demo account. A demo account that lacks proper advanced tools is not helpful to newbie traders. With a demo account, you are supposed to get to learn more about the behavior of the platform. How does the platform execute trades, is it fast or slow? What are some of the advanced tools available on the platform? Their demo account is not helpful and is slow at executing trades, an indication of their platform’s behavior.
When it comes to their preferred trading platform, Parantoux Trading is using a custom made platform. The problem with their web based platform is lack of proper testing by trading professionals. A trading platform must undergo rigorous testing to ensure it gives top notch services. Without proper testing, it makes the platform open to third party attacks. The performance of their platform is also wanting as executions are slow. A custom-made platform such as this one is not compatible with most devices such as smartphones.
The platform fails to segregate accounts which mean they are pooling funds in one account. Members are depositing funds straight to scammer’s bank account. And this is why no recovery of lost funds has matured. These scam artists will claim the funds were for services rendered. Avoid platforms which don’t offer DDoS and SSL protection on their website. It makes them an easy target for hackers looking to steal credit card information.
After checking all the details, we are sure Parantoux Trading is a scam waiting to pounce on investors. Warn your family and friends from joining any of their affiliate programs. Avoid giving out your personal information such as credit card information and residence address. These scam artists are in league with third parties to steal credit card information.
We will be adding this platform to our scam blacklist to ensure our readers stay safe. Continue reading our detailed reviews as we expose platforms that tarnish the good Forex trading name.
Wishing everyone a profitable and safe trading experience.
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