Brokers Park Review – Brokers Park Is An Unlicensed Forex Broker

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Brokers Park may seem attractive with its colorful website but the content on it is misleading and lacks transparency. Do not fall for this trap.

This broker is dangerous and it has to do mainly with its regulatory status. In the Brokers Park Review, we’ll explain everything using facts.

This shady brokerage is run by Brokers Park Ltd, which is a company based in Saint Vincent and the Grenadines (SVG). That’s bad news right off the bat.

SVG is a controversial offshore domain with lax financial market rules and a favorable tax system, making it perfect for scammers. Unlike the European Securities and Markets Authority (ESMA), SVG’s Financial Services Authority (FSA) does not regulate the Forex trading market.

It’s even explicitly stated on the FSA’s website, meaning that the Brokers Park regulation is fake. This provider is not licensed to provide Forex trading services and that’s a huge problem.

You could easily get scammed and lose all your funds overnight with this broker, which is why you should ditch Brokers Park and find a regulated broker. We recommend a broker with a Tier 1 license issued by the likes of the FCA, ASIC, BaFin, CFTC, FINMA, CNMV, etc.  

Brokers Park is an unlicensed Forex trading broker from the offshore domain of Saint Vincent and the Grenadines. This fraudulent entity mainly targets traders from the United States, Cyprus, and Turkey.  

We did some research to find out where Brokers Park provided its illicit services. Turns out, this broker was mostly active in three particular countries:

The US is probably the most heavily regulated domain in the world so there’s no way a scammer like Brokers Park is allowed there. Cyprus is pretty strict as well. 

Brokers Park may have flown under the regulators’ radar but reviews like this one are there to bust the fraudster.

Besides a phone number and email, Brokers Park is also active on Instagram, Facebook, Pinterest, YouTube, Twitter, and LinkedIn.

Social media platforms are scammers’ favorite tools for finding victims. They also use private WhatsApp & Telegram chats to entice potential clients. Dating apps such as Tinder aren’t safe either.

Brokers Park may have also run fraudulent online marketing campaigns with the help of hired agents and fake reviews.

We were right to warn you of the potential risks that stem from this unregulated broker. On WikiFX, we found a complaint against the broker from a US trader.

It’s also a fair warning that you shouldn’t trade with unregulated entities. Please bear this short review in mind when searching for a broker.

Friends, please be sure to stay away from these companies without any regulatory licenses. I have been scammed by such companies before, so I hope everyone can be vigilant and not scammed.

According to Brokers Park’s website, two trading platforms are available. The broker claims to offer the world-famous MetaTrader 5 and a browser-based platform known as WebTrader.

MT5 is an outstanding trading software. Designed by MetaQuotes, MT5 is equipped with cutting-edge tools such as algorithmic trading, live market reports, a customizable user-friendly interface, and advanced charting. 

Allegedly, users can download MT5 for desktop and mobile (Android & iOS). However, Brokers Park’s unregulated status is still an issue. There are plenty of legitimate brokers that also offer MT5.

As for WebTrader, it has very limited features, i.e. just some basic charts and graphs. All the tools that make MT5 great are missing on WebTrader.

Here’s an overview of Brokers Park’s trading instruments we found on the website:

Brokers Park wasn’t specific on this one. The broker simply describes its spreads as “tight” without elaborating further.

On the website, you’ll also read “variable” spreads but no exact pips. As for the commissions, Brokers Park says it offers commission-free trading for the Standard and Pro accounts and “low commissions” for the ECN, which is suspicious.

Our financial swindler offers three different account types:

Each of these offers max leverage of 1:200. Extremely high leverage such as the one Brokers Park advertises is dangerous and can easily lead to huge losses, hence why onshore regulators like ESMA imposed a 1:30 cap for retail clients.

Brokers Park claims to offer negative balance protection for each of these account types but we wouldn’t bet on it.

Unsurprisingly, no. Brokers Park didn’t include a free demo account because it wants to force traders to invest in a live account right away.

The broker doesn’t want traders to see all the fallacies in the trading software or conditions. All legitimate brokers offer a free demo account so you can try things out.

As part of the promotions, Brokers Park offers bonuses. Allegedly, traders receive a first deposit bonus and can achieve a 20% referral bonus. There’s also an account transfer bonus, a lot return bonus, and an iPhone 13 PRO campaign.

Don’t fall for these fraudulent schemes. Bonuses are deceitful tools used by scammers all the time. ESMA, for example, banned brokers from issuing bonuses.

Scammers always include a shady bonus policy but when we couldn’t check whether Brokers Park has one because there’s no Terms and Conditions document on the website.

Based on the available info on Brokers Park’s website, the available payment methods include:

Since there’s no Brokers Park withdrawal policy, we know nothing about the related fees and minimum withdrawal amounts. All we know is that the minimum deposit is 100 $. Honestly, this unregulated fraud is not worth that money.

If you’ve been scammed by Brokers Park, that’s pretty unfortunate. Please write a complaint on trading forums to warn others not to fall into this unscrupulous trap.

We assume you are having withdrawal issues, and we’re ready to help you get your money back. Over here at Global Fraud Protection, our experts specialize in bank chargebacks, recalls and crypto-tracing software such as CipherTrace.

If this broker steals your money, contact us for help. The easiest and fastest way to book a free consultation with us is via Online Chat.

No. Brokers Park is an unregulated scam broker so please avoid investing in this terrible trading scam. Call us if you need help.

No. Brokers Park doesn’t offer a free demo account, which is shady.

According to the broker’s website, MT5 is available for Android and iOS.

MT5 is great but we wouldn’t trust Brokers Park due to the broker’s unregulated status.

No. Brokers Park is an unregulated scam broker so please avoid investing in this terrible trading scam. Call us if you need help.

No. Brokers Park doesn’t offer a free demo account, which is shady.

According to the broker’s website, MT5 is available for Android and iOS.

MT5 is great but we wouldn’t trust Brokers Park due to the broker’s unregulated status.

The post Brokers Park Review – Brokers Park Is An Unlicensed Forex Broker appeared first on Global Fraud Protection.

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