A highly controversial broker, Park Financial Consulting LTD, invites you to join and start trading more than 200 CFDs. The firm’s controversy lies in its claims of 35,000 clients while facing scarcity and few online reviews, alleged licenses from several regulators without links or evidence, and many other aspects. The company mentions an office in the UK, but the user agreement references an offshore legal entity, Promarketing LTD. In short, there are many suspicious facts that need detailed verification. That is the task of our review: to determine whether this is a scam or not.
Table of Contents
|United Kingdom, Commonwealth of Dominica
|🎲 Demo Account
|⏳ Start Time
|💲 Minimum Deposit
|⚖️ Minimum and Maximum Leverage
|⚙️ Trading Platform
First Impression of Parkfinancialconsulting.com
The official website is available in English, Polish, and Russian. Upon entering the site, we are immediately greeted with an enticing offer of a 50% bonus and the motivational phrase “Get the freedom to choose with us”. Overall, the main page lists advantages and benefits, account types, and describes the process of starting cooperation with Park Financial Consulting LTD.
The top panel includes standard sections on traded asset classes, trading conditions, information about the company’s activities, and contacts. The Park Financial Consulting LTD site is designed in a white-orange style with images symbolizing high technology, trading, and success.
The broker informs visitors about having licenses that need to be verified and claims complete transparency and advantageous conditions. The firm even shares detailed statistics about itself:
- Over 35,000 clients.
- 350,000 transactions.
- 150 million in trading turnover.
- 4 years in operation.
All this looks quite template and typical. We have encountered similar sites to Park Financial Consulting LTD before. All the presented facts lack evidence, and therefore require additional verification by users.
Partnership and Bonuses
Park Financial Consulting LTD offers clients a substantial +50% deposit bonus, which is a significant indicator. Such “generosity” is often a hallmark of fraudulent brokers. Notably, the terms for working off the bonuses are undisclosed. It’s unclear if the company has an affiliate program, as it’s not even mentioned on the site.
Account Opening on Parkfinancialconsulting.com
The registration process begins by providing personal information, followed by a verification requirement. Park Financial Consulting LTD requests several details:
Once the information is provided, the client portal opens. Interestingly, there was no need to confirm the entered data. Park Financial Consulting LTD offers a basic personal account with minimal necessary actions. Users can change personal data, upload documents for KYC, manage finances, and access the WebTrader.
Nothing particularly special or unique is present. Park Financial Consulting LTD doesn’t even offer a demo account option, meaning there’s no way to test the service without risk. To do so, one must invest real money. Any customer-focused and transparent broker would readily provide a free virtual account to traders.
The verification process is highlighted as mandatory, so all clients must upload documents for KYC. However, we recommend not rushing into this and first verifying the broker to avoid risking personal data leakage. Park Financial Consulting LTD allows for document upload through the personal account, requiring three types of documents:
- Personal identification, such as a passport or driver’s license. An ID card is also acceptable. Additionally, a selfie with the document is required.
- Confirmation of place of residence. A statement from the bank or a utility bill no older than 1.5 months is required.
- Bank card confirmation. Only the first 6 and the last 4 digits of the card number should be visible. The CVV must be concealed.
- It is convenient to upload documents.
- Too many documents are required.
- The verification processing time is not specified.
At Park Financial Consulting LTD, WebTrader is used as the trading platform, featuring various capabilities and options. The platform supports multiple timeframes from 1 minute to 1 month, pending orders, four types of charts, technical analysis, and essential indicators, including oscillators, trend indicators, and those by Bill Williams. The interface suggests the availability of auto-trading, PAMM, and a notification system for traders.
Park Financial Consulting LTD doesn’t provide any guides for using the terminal, so beginners will have to learn the interface and functionalities on their own. The platform looks basic but includes fundamental features. A significant drawback, however, is the lack of mobile and desktop versions.
|Park Financial Consulting LTD
How Can I Trade With Park Financial Consulting LTD?
Over 250 assets are available for trading here, including currency pares, indices, commodities, stocks, and cryptocurrencies. Conditions vary depending on the chosen tariff plan.
All Info About Accounts
Park Financial Consulting LTD offers four main trading accounts and an additional one for investment purposes. The initial account type requires a minimum deposit of 100 pounds and includes only daily news and a trial period with an expert for 5 days. Frankly, this seems rather limited. After the 5 days are up, essentially nothing else will be available to traders. Moreover, financial news can be easily found elsewhere, often of better quality and with faster delivery.
However, the most interesting aspect is the difference between the second account type and the first one. The first tariff offers nothing unique or intriguing to clients, whereas the second introduces weekly CME reports, reduced commissions, and webinars. This is considerably more substantial, but it requires a minimum deposit of 10,000 pounds – a huge leap. Park Financial Consulting LTD seems to be extracting money from people. Subsequent tariffs demand even larger sums.
Not only does the company operate on a “pay more, get more” principle, but it also hides critical conditions. For example, what commissions await traders? And what about spreads? Or the type of spreads? The maximum leverage, which can only be known when opening a new account in the personal cabinet, is 1:1000. It is a serious violation of regulatory requirements. How did Park Financial Consulting LTD acquire so many licenses when the maximum allowable leverage is 1:50?
There is no demo or swap-free option available, the same can be said for ECN and cent accounts. The trading conditions are completely non-competitive and disadvantageous. Saving Accounts with yields up to 37% look like a sign of HYIPs. Where could the company be sourcing such profit for investors? Moreover, returns are fixed and guaranteed. This indeed suggests a potential Ponzi scheme
- Low minimum deposit.
- Lack of demo, swap-free, ECN, and cent accounts.
- Hidden commissions and spreads.
- Park Financial Consulting LTD operates on the principle of extorting money.
Market Analysis and Education With Parkfinancialconsulting.com
There is no sign of fresh analytics, training courses, or educational materials. Park Financial Consulting LTD merely provides basic information about the traded asset classes and an online calculator to calculate position parameters. How does the firm plan to attract clients and compete with other companies with such unremarkable advantages?
Deposit, Withdrawal, and Fees
For depositing and withdrawing funds, only two options are available: Visa/Mastercard and cryptocurrency. It’s not even specified which particular digital currency is supported for transactions. After creating a deposit request, a manager is supposed to contact the client. Park Financial Consulting LTD does not disclose any commission fees or the processing time for withdrawal requests.
|Park Financial Consulting LTD
How Can I Contact It?
Contact information can reveal a lot about a broker. Park Financial Consulting LTD shares a British phone number and two email addresses, with no other means of communication with staff. Here’s what we discovered about the email addresses: both turned out to be fake. There is a suspicion that the phone number might also be fake, making it unclear how one can actually contact the managers.
- The contact information is fake.
Is Park Financial Consulting LTD Dangerous?
Considering the information gathered above, it paints a picture of a scam broker. Fake contact details, hidden trading conditions, and other aspects are not positive factors; they rather indicate potentially dangerous activities of the company. Next, we will examine the most interesting aspects – the licenses and the duration of operation at Park Financial Consulting LTD, as there are suspicions that they might all be fake.
How Long Does The Broker Work?
First, let’s consider the duration of the operation. The company narrates its development story, which supposedly began in 2018, but is this really the case? The domain of the official website does not even come close to confirming such a duration of operation, as it was only created on October 1, 2023. How could Park Financial Consulting LTD operate without a website? Furthermore, the number of reviews on the internet is so low that the figure of 35,000 clients seems very laughable and absurd.
How Is Park Financial Consulting LTD Regulated?
The company lists a plethora of licenses: CySEC, FCA, IFSC, MFSC, FSCA, ASIC, and DFSA. Firstly, let’s examine the legal entity mentioned in the user agreement. Promarketing LTD, registered in the Commonwealth of Dominica and holding an FSCA license, could not be found in the registry. Moreover, the user agreement mentions a different domain – thetmstockwellfund.com. Visiting this site reveals an obvious similarity with parkfinancialconsulting.com. Identical interface, and the same orange design – like two drops of water. Is Park Financial Consulting LTD and Promarketing LTD the same? It seems the broker simply copied someone else’s user agreement and placed it on their website.
Secondly, the legal address in the UK requires verification. Indeed, Companies House and the FCA list a firm with the same name, but the question remains – is it our subject of review? There, the organization was founded in 2010, while our scam broker only appeared in 2023. Furthermore, addresses and contact details differ. It is definitely not the company we are investigating.
Thirdly, let’s attempt to verify another listed license, such as ASIC. As expected, Park Financial Consulting LTD is absent from the Australian regulator’s registry. It’s unnecessary to consider other licenses if the FCA and ASIC turned out to be fake, then the rest are likely fabricated too.
|Park Financial Consulting LTD
Frequently Asked Questions (FAQ)
How to Trade With Park Financial Consulting LTD?
Is Park Financial Consulting LTD Legit?
How Risky Is It?
Are the scammers so foolish? Will someone fall for such obvious fraudulent tricks with fake licenses, made-up operation duration, fabricated clients, and trade turnovers? All this information is very easy to check; it’s a matter of a few minutes. That’s why it’s so important to conduct fact-checking and verify all the facts that brokers tell about themselves. Park Financial Consulting LTD is a prime example of a scam place where nothing is real, but there is a lot of lying and fakery. A typical fraud – taking an existing and legal organization, and offering brokerage services under its name. Such fraud should be avoided.