When it comes to trading, brokers often claim to be the best in the industry, and Henderson Palmer is no exception. They boast about providing the best trading experience, but we are here to delve deeper and investigate whether their claims hold true or if they are just another scam hiding behind an appealing name. In this review, we will uncover all the answers you need.
Table of Contents
Highlights
| 🏛️ Country | Singapore |
| ⚠️ Regulation | — |
| 🖥️ Website | https://www.hendersonpalmer.com/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | £5,000 |
| ⚖️ Minimum and Maximum Leverage | — |
| ⚙️ Trading Platform | WebTrader |
| support@hendersonpalmer.com | |
| 📞 Phone | +44-786-880-9992 +61-243-258-058 |
First Impression of Hendersonpalmer.com
Upon visiting the official website of Henderson Palmer, one can’t help but notice the lackluster design that fails to engage and captivate users. The broker seems to be drowning in self-praise, with numerous claims of being the best in the industry without substantial evidence to support these assertions. Disappointingly, crucial information about the company is conspicuously absent, leaving visitors in the dark about its background and legitimacy.
While it must be acknowledged that Henderson Palmer has made an effort to upload a significant number of documents on their website, including legal agreements and policies, this abundance of paperwork does little to inspire enthusiasm.
Partnership and Bonuses
Henderson Palmer most likely has a bonus program in place where it offers loyalty points to its clients. However, it is worth noting that these loyalty points are exclusively available for Silver and higher-tier account holders, which requires a minimum deposit of 100,000 euros and more. Unfortunately, the broker fails to provide detailed information regarding the terms and conditions associated with this program.
Account Opening on Hendersonpalmer.com
The registration process at Henderson Palmer is quick, but notably lacking in essential security measures. One significant drawback is the absence of email and phone number verification, as users are granted immediate access to their personal accounts upon registration. This practice raises concerns about the authenticity and credibility of the broker, as it fails to implement necessary verification steps to ensure the integrity of the platform and protect user accounts from potential unauthorized access.
Moving on to the standard Client Portal, it leaves much to be desired. The user interface and features offered here are rather unremarkable. There is a noticeable lack of innovative or unique functionalities that would enhance the trading experience or provide users with additional tools for managing their investments effectively.
Verification
The verification process at Henderson Palmer is straightforward. Traders are required to submit the necessary identification documents, such as a valid ID or passport, proof of address, and potentially additional financial documents. These documents are uploaded through the client’s account and reviewed by the broker’s verification team.
- Simple verification process.
- Henderson Palmer may ask for additional documents if it wants to.
Trading Software
The trading platform offered by Henderson Palmer falls short in several aspects. Firstly, it lacks essential features and indicators that are commonly found in reputable platforms, limiting traders’ ability to make a great trading experience. Secondly, it has gained a reputation for being exploited by fraudsters and scammers, raising concerns about the platform’s security and reliability. Traders should exercise caution when using this platform and consider alternative options that provide a more comprehensive set of tools and have a better track record in terms of security.
| Features | Henderson Palmer | Golden Currencies | RannForex |
|---|---|---|---|
| Demo Account | ❌ | ❌ | ✔️ |
| Mobile App | ❌ | ❌ | ✔️ |
| Own Development | ❌ | ❌ | ❌ |
How Can I Trade With Henderson Palmer?
We were rather disappointed with the trading conditions provided by Henderson Palmer. The broker’s services offer nothing unique or exceptional. However, what adds to the frustration is the excessive requirements imposed on traders.
All Info About Accounts
Henderson Palmer offers various types of accounts, but the minimum deposit required is unreasonably high. Typically, licensed brokers do not impose such restrictions at all. It is difficult to comprehend why a beginner would be willing to risk such a substantial amount like £5,000 without having any prior trading knowledge.
To exacerbate the situation, Henderson Palmer does not even provide a demo account option. Instead, traders are immediately pushed to trade on a real account with the high deposit requirement. Furthermore, the first three account types are essentially identical, making it unclear why Henderson Palmer sets such specific requirements.
In premium accounts, clients are promised additional services such as analytics, signals, and more. However, there are some rather questionable offerings, such as “advanced CDCs.” What does it even mean? Are beginners limited to trading only currency pairs, while those who deposit over $100,000 gain access to stocks? The concept is unclear. Moreover, CDCs refer to derivative assets, not actual assets that you can buy and sell. Henderson Palmer doesn’t even send your orders to the interbank market. Additionally, the trading conditions fail to specify the spread sizes and leverage offered to clients.
- None.
- High minimum deposit.
- Trading conditions are not described in detail.
- Dubious additional services.
Market Analysis and Education With Hendersonpalmer.com
Henderson Palmer apparently offers analytics and educational services. However, assessing the quality of these services is impossible. Moreover, the question of who provides these services remains unanswered. All the analysts remain anonymous, raising doubts about the reliability of their forecasts. It is advisable not to place too much trust in their predictions.
Additionally, it is quite evident that the broker prioritizes affluent clients, as they receive more attention and benefits. This raises concerns, as novice traders who would benefit the most from these services are practically left with nothing. The lack of emphasis on supporting and providing resources to beginners is particularly disadvantageous.
Deposit, Withdrawal, and Fees
The deposit process at Henderson Palmer seems to be quite complicated. Surprisingly, the client portal lacks a basic function like depositing funds into the trading account. However, there is a withdrawal option available, and it is astonishing that the only accepted currency for withdrawal is Bitcoin.
This limitation raises significant concerns and hints at the possibility that the broker may be operating illegally or engaging in questionable practices. The absence of conventional deposit methods and the exclusive reliance on Bitcoin for withdrawals can be seen as a red flag, as it potentially hinders transparency and raises doubts about the legitimacy and regulatory compliance of Henderson Palmer.
| Features | Henderson Palmer | Imperial Wealth International | Geratsu |
|---|---|---|---|
| Debit/Credit Cards | ❌ | ✔️ | ✔️ |
| Electronic Payments | ❌ | ✔️ | ✔️ |
| Crypto Transfers | ✔️ | ❌ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ❌ | ❌ |
How Can I Contact It?
The contact information provided by Henderson Palmer appears to be quite peculiar. Interestingly, the broker presents both English and Australian phone numbers while indicating a Singaporean address.
It is unclear why a broker would associate itself with multiple countries without providing a clear explanation or justification.
- Full contact details.
- Office address is probably fake.
Is Henderson Palmer Dangerous?
Henderson Palmer, unfortunately, fails to offer anything remarkable in terms of its trading services, except for inflated ambitions. This leads us to suspect that the situation is no better in other aspects.
How Long Does The Broker Work?
One important question arises: how long has Henderson Palmer been operating in the industry if it doesn’t even deem it necessary to provide clients with a demo account? Prior to writing this review, we thoroughly researched all available information about Henderson Palmer and found a striking lack of material, apart from a handful of reviews on Trustpilot and a couple of articles. This indicates that Henderson Palmer is a newcomer to the market, a fact further supported by a domain check revealing its creation in February 2023.
How Is Henderson Palmer Regulated?
When it comes to regulation, the situation becomes even more complex. Although the Singaporean address suggests that Henderson Palmer is registered in that jurisdiction, the broker fails to provide any legal information, full company name, or registration number, which is a violation of information disclosure laws. Furthermore, our search in the Singapore Business Registry yielded no matches. Therefore, we conclude that Henderson Palmer is not officially registered anywhere and lacks any form of license. Even in the client agreement, the country where all disputes will be resolved is ambiguously referred to as the “broker’s registration country,” without specifying the actual location. It seems that traders are deliberately kept in the dark about this crucial information.
| Features | Henderson Palmer | TradeCMF | Golden Currencies |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ❌ | ❌ |
Frequently Asked Questions (FAQ)
How to Trade With Henderson Palmer?
Is Henderson Palmer Legit?
How Risky Is It?
Kevin Berry Well, well, well, looks like I’ve stumbled upon these scammers again. Talk about a déjà vu! Thankfully, their previous projects have bitten the dust. But if you’re curious, you could try visiting the websites of Waterman Bates and VastWealth. However, chances are they’ve gone down the drain too. Just a friendly tip from someone. Avoid these shady characters. Trust me, you won’t be missing out on anything except empty promises and a drained bank account.
Henderson Palmer rating
2 reviews about Henderson Palmer
In today’s market, there are countless brokerage firms with official registrations and licenses from one or multiple global regulators. However, for some reason, many people overlook basic safety precautions when choosing a broker – they fail to verify its license or turn a blind eye to its absence. And here we have Henderson Palmer, without a single license to its name. For any reasonable individual, that should be the end of acquaintance with this broker. That’s exactly what I did, and that’s exactly what I advise you to do too. Even if a company seems decent and is functioning while allowing fund withdrawals, the absence of a license is a red flag that demands action. Find a broker from the white list, with a license, and you’ll find happiness.
Henderson Palmer offers an abundance of unnecessary clutter, a pile of market-like services, bonuses, and whatnot. All I see here is the standard dealing desk (DD) model. Engaging in DD trading is a futile and dishonorable pursuit. Today, they may appear to be honest brokers, even facilitating withdrawals, but tomorrow they can transform into scammers who hinder your trading activities. And that’s just the tip of the iceberg. Account blockages, bans, and refusals to withdraw funds are waiting around the corner.
Rest assured, you will find yourself in such a situation with Henderson Palmer because there is no other outcome. Dealing desks are dangerous entities, often an anonymous gathering of scammers seeking to profit at the expense of unsuspecting individuals who don’t realize that their hard-earned money becomes the earnings of these pseudo-brokers. I genuinely can’t comprehend how anyone can invest their money where their earnings aren’t truly welcomed. Or worse, they deceive people who are unaware of it, claiming to be “real intermediaries, executing trades on the exchange.” Well, guess what? There’s no actual market execution here. If you’ve been offered to trade with them, know that you’ll be caught in a conflict of interest with Henderson Palmer, and it won’t end well for you.