Parenta Financial Services Limited Review – Must Know Facts
Parenta Financial Services Limited presents itself as a UK broker. With their registration in 2023 and allegedly 40k clients, that’s quite suspicious. Especially since this firm is not listed in any public register.
Therefore, we have a lot of facts to go through. But definitely, once you read this Parenta Financial Services Limited review, you’ll know why not to trust this firm.
|Regulated by:||No regulations|
|Is This Company Safe?||No|
|Have Warnings from:||FCA|
|Registered in:||UK (allegedly)|
|Trading Platforms:||Web trader|
|Minimum Deposit:||100 GBP|
|Trading Assets:||Forex, Commodities, Indices, Shares|
|Free Demo Account:||No|
|How to Withdraw from This Company?||Considering the warning from the FCA and various misleading facts, you can forget about clean withdrawals with this company. We suggest you apply for a refund as soon as possible. For flawless procedure, feel free to contact our experts.|
Legal info: Is Parenta Financial Services Limited legit or a scam?
When a company claims to be in the UK, that makes a job way easier. You just have to check the FCA register and discover if they are a scam or not. Most importantly, licensed brokers reveal their license numbers transparently. Which is not the case with this firm. Instead of a license, we found a warning from the FCA.
Consequently, nothing that this broker claims matters. We were hoping to see a license from other Tier 1 regulators like CFTC, ASIC, or BaFin. But none of these issued any licenses to this scam firm. Luckily.
Who are Parenta Financial Services Limited clients?
According to who.is database, Forex Parenta Financial Services Limited broker was registered in July 2023. As can be seen, the company claims to have more than 40k customers. Which was most likely written on day one, anyway.
But without regulations, we highly doubt those numbers. In any case, there’s a pattern that shows what countries are mostly targeted. If you are from any of the following, feel free to contact us for a refund. Most of the victims come from:
- United Kingdom
One of the leading warning signs is the company’s reviews. Only on Trustpilot we can see 40 comments already. Not so positive ones at that.
In fact, 50% of traders have already reported some kind of issues with this firm. Mainly about withdrawals. So, if you are one of those as well, let us know. You can also contact our refund consultants directly and get the first free consultation.
Leverage, Commissions, Spreads, Fees, and Taxes
Generally, if the broker is not transparent about trading conditions, you can expect literally anything. But very often, that leads to shameless manipulation of market data and traders’ profits. Especially if they are using shady web-based platforms.
Anyway, this broker doesn’t reveal any of the trading conditions. Overall, the average spread in the industry is around 1.5 pips, while the maximum allowed leverage in the UK is 1:30. Anything higher than this should be avoided.
Broker Parenta Financial Services Limited doesn’t reveal any bonus offers transparently. Yet, their T&Cs are hiding the truth. Bonus offers can be included in their services. Yet, the conditions you have to meet remain unknown. But if you read our XAU Merlion review, you can find out more about bonus tricks.
Parenta Financial Services Limited Trading Features
Everything about this broker goes around misleading and manipulation. Some of the most promoted features are PAMM accounts, copy trading, and automated trading. Yet, without regulations, you can’t trust them anything.
Trading Platforms Available
If the company has cTrader or MetaTrader, you can believe they offer the advanced features mentioned. There would be many more included as well.
However, this company opted for a web-based platform with only basic features. Most importantly, Parenta Financial Services Limited reviews reveal the software issues.
Available Trading Assets
Another key fact is that the company doesn’t reveal tradeable assets transparently. Neither do they provide a demo account so you can see yourself. But one thing is sure, they don’t offer cryptos. Instead, you can expect:
- Forex – USD/JPY, EUR/NOK, EUR/GBP
- Commodities – gold, silver, palladium
- Shares – Apple, Samsung, NVidia
- Indices – DAX 30, CAC 40, ASX 200
Of course, the more money you deposit more fictive benefits you get. But keep in mind that this firm is not authorized to provide any kind of financial services. Especially not the ones they offer, like IPO allocations, contracts trading, or arbitrage. Anyway, the choices are:
- Forex/Crypto – 100 GPB (cryptos not mentioned in the official offer)
- Commodities – 5.711 GBP
- Stocks – 16.594 GBP
- Indices – 121.144 GBP
- Savings – 21-37 years
Mobile Trading App
Without a third-party trading platform, we were not sure about the mobile app either. In fact, if they offer it, they would proudly present it. Instead, you’ll have to bother accessing your trading account through the browser.
If the broker is hiding something, they usually don’t offer a demo account. Otherwise, all their fake features would be exposed. That’s why we encourage you to read our Zertom review and find out the importance of a demo account.
Parenta Financial Services Limited Withdrawal
Surprisingly, the company doesn’t have a transparent withdrawal policy. Therefore, they can make it up along the way. But there’s one thing. They don’t allow traders to open withdrawal requests if you have any open positions. Therefore, you can be stuck forever with their shady platform.
But even if that works fine, they don’t reveal withdrawal methods, fees, and processing time. Consequently, all kinds of manipulations are possible. But firstly, with non-existent fees and taxes.
As for the contact options, the company reveals a phone line and e-mail. But also, there’s a web contact form available on their contact page. However, the experience tells us this is not something you should trust much. Especially after numerous negative comments about their representatives.
Key Information To Consider About Parenta Financial Services Limited
In the first place, you must consider the lack of regulations. Otherwise, that FCA warning wouldn’t exist. Regardless of regulation issues, the company has quite low transparency. But also very poor trading software choices. All in all, there is nothing to make you comfortable investing with them.
But let us know what you think about this firm. If they scammed you, it’s not the end of the world. But you have to do something about it. If you don’t know how to get your money back, get in touch with us.
What is Parenta Financial Services Limited?
Parenta Financial Services Limited is an anonymous FX and CFD trading firm that operates without adequate regulations.
Where Can I File Parenta Financial Services Limited Complaint?
Since they claim to be in the UK, the best option is to file a complaint with the FCA.
What Should I Do If I Was Scammed By an Online Broker?
After filing a complaint you can apply for compensation if the broker has it. If not, we suggest you contact our refund specialists for detailed refund instructions.