Do you want to trade with PaloMarket FX? Is PaloMarket.com a genuine broker! See detailed PaloMarket FX review to know about this platform.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is PaloMarket FX?
PaloMarket FX also known as PaloMarket.com is an offshore brokerage company with a lot of promises for forex traders. The company is completely anonymous. The broker does not list either an owner company or a contact address.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
PaloMarket FX Minimum Deposit:
PaloMarket deposit is not indicated for clients. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
The PaloMarket documentation mentions credit/debit card transactions and bank transfers.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
PaloMarket withdrawal FX leaves us with limited information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
PaloMarket platform claims to offer what is currently the most popular trading software in the industry – (MT5) platform. But the installation file that can be downloaded from the website is a demo version, which can also be obtained directly from the developer of the software, MetaQuotes.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
As for PaloMarket FX leverage, nothing is said. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Things You Should Know Before Trading on PaloMarket.com
First and foremost, PaloMarket.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.
Based on our search, the Terms and Conditions and other legal documents do not mention a company name or specify an applicable jurisdiction. This is more than enough proof that PaloMarket is not the licensed forex broker it claims to be.
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
PaloMarket FX Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
PaloMarket FX located at PaloMarket.com claims to appear like a trusted trading broker, however, that cannot be ascertained. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
Have you traded with this broker before? Please share with us your experience in the comment section below.