Thinking of getting into business with Brokers Park? Here is what you must know about this broker. Carefully read this review to find out if brokerspark.com is the trading platform you will want to trade with.
Table of Contents
Do You Know You Could Get Back Your Money If You Have Been Scammed? Great News! Click HERE to Get Started
About Brokers Park Broker
Brokers Park is an offshore brokerage company with a lot of promises for traders. The broker is owned by Brokers Park Ltd with an incorporation in St. Vincent & the Grenadines.
There are different account types Brokers Park offers. See below.
To clarify, in spite the trading instruments Brokers Park claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
brokerspark.com: Reasons to Avoid This Broker
Firstly, brokerspark.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because local financial authority, SVGFSA does not monitors or give license to forex brokers.
Secondly, we noticed brokerspark.com has no demo account for traders. Since traders can’t test broker on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
Lastly, the importance of legal documents cannot be under emphasized especially when doing due diligence. Truly, we could not assess the broker’s legal documents as we found it missing on the webpage.
These are cons for forex traders 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.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, Brokers Park mentioned $100 as the minimum withdrawal and the same day for withdrawal process. Again, the broker claims zero fees on any withdrawal.
Minimum Deposit
Brokers Park minimum deposit is not available.
As for the payment methods, the broker accepts Debit/Credit cards, Wire Transfers, Bitcoin, Neteller and other eWallets. Nevertheless, you should not consider making any payment with this broker because it is a risk and a scam. So beware!
Brokers Park Platform
Brokers Park offers MT5 (Industry standard trading platform), however, that doesn’t make the broker legit because any scam broker can do the same to lure forex traders.
As for the leverage, it can get up to 1:500. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Brokers Park 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 that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
Instead, Trade with TOP RATED BROKERS
Accounts
Free Trial
Projects
SSL
S
Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
TOP CHOICE BY TRADERS
Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:300
BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion: Is brokerspark.com a Reliable Broker?
No, brokerspark.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
