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Palmer Finance Company Review | A Scam or Legit Broker?

by Kevin Berry
Rating: 
  1/5   Reviews: 2
Palmer Finance Company - logo

Today we’re about to shine a bright light on a broker that has been causing quite a stir. Brace yourselves for some shocking revelations, because we’re about to uncover the truth behind this notorious scam and expose it for what it really is. Get ready for a rollercoaster ride through the dark underbelly of Palmer Finance Company, where reviews hold the key to unraveling the mystery.

Highlights

🏛️ Country UK
⚠️ Regulation
🖥️ Website https://www.palmerfinancecompany.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit £100
⚖️ Minimum and Maximum Leverage 1:400
⚙️ Trading Platform WebTrader
📨 E-mail support@palmerfinancecompany.net
📞 Phone +442080895770

First Impression of Palmerfinancecompany.com

Palmer Finance Company didn’t exactly impress us as a reputable broker right from the start. Have you checked out their website? It’s like a generic template that leaves you wanting to hit the “close” button. And don’t even get us started on those cliché phrases they throw around. “There’s no better time than investing now”? Yeah, sure, but definitely not with these guys.

Palmer Finance Company - website

You see, Palmer Finance Company claims to be an international broker, but get this, their office is actually in America while they portray themselves as English. And guess what? Their website is predominantly in English and Polish. Now, isn’t it crystal clear who they’re targeting? It’s like they’re waving a flag saying, “Hey, we’re not really interested in catering to a diverse global audience!” So, unless you’re part of their preferred crowd, you might want to explore other options.

Partnership and Bonuses

Palmer Finance Company seems to be chasing after two rabbits at once. They’re offering both a partner program and bonuses. However, the catch is that you can only receive bonuses if you deposit a large sum of money. On the other hand, anyone can participate in the partner program. By the way, you’ll only receive a bonus if your invited friend makes a deposit. If their deposit falls between 250 euros and 5,000 euros, you’ll get a 20% bonus. And if they deposit over 5,000 euros, Palmer Finance Company will credit you with a fixed sum of 1,000 euros.

Account Opening on Palmerfinancecompany.com

We breezed through the registration process on their website in just two minutes. It seems that Palmer Finance Company falls into the category of brokers who don’t prioritize your security. All it takes is filling out a brief form with your contact details, and voila! You gain instant access to their Client Portal.

Register

The Client Portal of Palmer Finance Company shares the same simplicity as their official website. It offers all the basic functionalities you would expect. You can easily deposit funds, submit withdrawal requests, and review your financial transactions. Additionally, there are options to adjust your account settings and upload necessary documents. It’s straightforward and covers the essentials.

Dashboard

Verification

Palmer Finance Company has quite an extensive list of required documents. Initially, they may only ask you to verify your identity and place of residence. You can easily accomplish this by uploading color copies of the necessary documents to your personal account. Additionally, whenever you make a withdrawal, you’ll be required to fill out the DOD (Declaration of Deposit) and POR (Proof of Residence) forms. Moreover, there’s a separate application form for bank transfers, which needs to be printed, filled in, scanned, and uploaded back to the Client Portal.

Pros
  • Documents can be uploaded straight to the Client Portal.
Cons
  • The broker requires a fairly large list of documents.

Trading Software

The trading platform offered by Palmer Finance Company is a typical web-based trader, and to be honest, it’s nothing to write about. It’s a platform that we’ve seen countless times before, and yet every broker seems to insist that it’s their own unique creation and the best software out there. However, that’s far from the truth. In reality, it’s just a terminal with limited features and capabilities. And to make matters worse, Palmer Finance Company has decided not to invest in a desktop version, which is quite disappointing.

WebTrader

Features Palmer Finance Company Modus UK Limited  TradeVtech
Demo Account
Mobile App
Own Development

How Can I Trade With Palmer Finance Company?

Palmer Finance Company presents itself as a broker offering better trading conditions. However, we strongly disagree with this claim.

All Info About Accounts

The broker offers five different account types, with a minimum deposit requirement as low as 100 pounds. Trading on the Beginner account is nearly impossible. You’ll only have access to 9 currency pairs as your trading instruments, and the spreads are so wide that they will make you cringe. It’s only a matter of time before you feel compelled to upgrade to the next, more profitable account.

To access more trading instruments, you’ll need to deposit a hefty 5,000 pounds. Palmer Finance Company will add just one additional asset type to the currency pairs, without specifying which one. To truly access all the trading instruments, you’ll have to open a Gold account, which requires a minimum funding of 100,000 dollars. With a Gold account, you’ll also receive a range of near-market services such as loans from the company, trading signals, insured transactions, bonuses, and more. These are precisely the practices that reputable regulators strictly prohibit.

Pros
  • Low minimum deposit.
Cons
  • Dubious additional services
  • High leverage.

Market Analysis and Education With Palmerfinancecompany.com

Palmer Finance Company provides a range of supplementary services. One such service is insured transactions. However, it raises a fundamental question: How can transactions be insured when you are engaged in real market trading or using ECN technology, where you are actively trading against genuine traders?

Deposit, Withdrawal, and Fees

Palmer Finance Company limits deposit methods to Visa/MasterCard and bank transfers. The process of crediting funds to the account can take up to three business days, which is already quite lengthy. However, the deposit procedure itself is far from ordinary.

Upon specifying the deposit amount, you will be required to wait for a call or message from a manager. The purpose of this communication remains rather obscure. It appears that Palmer Finance Company is keen on engaging in a conversation with you before depositing funds.

Depositing

Features Palmer Finance Company General Trust Group  IronGatesFX
Debit/Credit Cards ✔️️ ✔️️ ✔️️
Electronic Payments ❌️ ❌️ ❌️
Crypto Transfers ❌️ ✔️️ ❌️
Deposit Fee ❌️ ❌️ ❌️
Withdrawal Fee ✔️️ ✔️️ ❌️

How Can I Contact It?

Palmer Finance Company provides multiple contact options, including phone numbers, an email address, and a link to WhatsApp. However, upon further investigation, we discovered several red flags. Firstly, the address listed on their website does not correspond to an actual office location for the company. Additionally, we uncovered that one of the phone numbers displayed is actually associated with another broker, JM Trade. These inconsistencies raise serious doubts about the legitimacy of Palmer Finance Company.

Pros
  • Several contact ways.
Cons
  • Fake address.
  • Questionable phone number.

Is Palmer Finance Company Dangerous?

If there’s one thing we can be certain about, it’s that Palmer Finance Company has all the signs of being a scam. However, wait, there’s more!

How Long Does The Broker Work?

The registration date listed for Palmer Finance Company is 2004. Yet, there’s not a single review about this broker until 2023. And guess what? The domain was only registered on January 9, 2023. This project is just a few weeks old! It’s highly unlikely that they’ll stick around for even a year, let alone operate legitimately.

Domain info

How Is Palmer Finance Company Regulated?

According to their claims, Palmer Finance Company’s management is registered in England under the number 05305159. So, we did a little digging and found another company with the same registration number called Palmer Finance. However, their line of business is listed as financial intermediation, which doesn’t quite align with the brokerage services they supposedly offer. Talk about a mismatch.

Now, in the UK, all brokers are required to be authorized and listed on the FCA registry. However, when we searched for “Palmer Finance,” we only found three matches, none of which were associated with the registered number 05305159. It seems like this company conveniently avoids the need for licensing. Our heroic scammer is certainly putting up a façade.

Palmer Finance Company - no license

Features Palmer Finance Company MTCapitals Modus UK Limited
European Zone ❌️ ❌️ ❌️
Asian Zone ❌️ ❌️ ❌️
American Zone ❌️ ❌️ ❌️
African Zone ❌️ ❌️ ❌️
Offshore ❌️ ❌️ ❌️

Frequently Asked Questions (FAQ)

How to Trade With Palmer Finance Company?

To trade with Palmer Finance Company, you will need to start by registering an account on their website. You also need to go through a verification process to confirm your identity. Once your account is set up, you can proceed to fund your account by depositing money and starting trading.

Is Palmer Finance Company Legit?

No, it is not a legitimate broker. In fact, it operates without any regulation and even impersonates another company.

How Risky Is It?

In summary, Palmer Finance Company is a scam, and there is a 100% risk associated with dealing with them.
Kevin Berry
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Expert Opinion

In this shady world of online trading, it’s not uncommon to come across brokers resorting to all sorts of tricks to make themselves look good. And Palmer Finance Company seems to have mastered the art of purchasing positive reviews about themselves. They probably think they can fool us with their so-called “stellar reputation,” but as an expert, let me tell you, those reviews are as genuine as a unicorn riding a rainbow. So, if you’re looking for a trustworthy broker, steer clear of these review-buying scammers and focus on finding a reputable and regulated one. Don’t let them pull the wool over your eyes, my friends!

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The level of trust
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2 reviews about Palmer Finance Company

Serhio May 19, 2023 - 18:49
Fake Platform Alert!
The level of trust

If you fell for the trap and invested your money in Palmer Finance Company, well, let’s just say you’ve landed yourself in the arms of a full-blown scam. Calling them a broker would be an insult to the real ones out there. This pathetic excuse for a platform is nothing more than a money-stealing scam targeting unsuspecting victims. Don’t be one of them. Save your money and sanity by avoiding Palmer Finance Company.

Reply
Yaman May 24, 2023 - 08:36
No, no, and no.
The level of trust

I decided to register with a throwaway phone number to protect my privacy, and boy, am I glad I did! This shady Palmer Finance Company collects personal information like there’s no tomorrow. I took a peek at their platform, and let me tell you, it’s an absolute joke. It’s like they took all the worst features from every trading platform out there and rolled them into one. They didn’t even bother offering a decent alternative like MetaTrader. Trust me. Palmer Finance Company is a bottom-of-the-barrel broker with laughable conditions. I didn’t even bother trading, and I strongly advise you to stay far away.

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