The platform is managed by the brokerage firm Paradfintrades LLC. It is based in Prague, with an additional representative office in London and its main legal entity registered in Saint Vincent and the Grenadines. Furthermore, the company claims it has been in the brokerage business since 2019, has 40,000 clients from 26 countries, and has $12 billion in trading accounts. However, there are no reports or other documentary evidence to support this.
What is the secret of the project’s popularity? Should you trade on this platform? In our Paradtrade review, we will consider the terms of cooperation and legal aspects of the broker.
How to Trade
The company offers MT4 and author’s MT7 platforms for trading on Forex and CFD markets. The financial intermediary has provided a demo account and 5 trading plans. You can trade under the following conditions:
- Entry threshold – $5.
- Minimum position volume – 0.01 lots.
- Leverage – up to 1:1000.
- More than 200 assets, including securities and crypto.
Automated trading and copying of trades are available to users. There are almost zero spreads and a fixed commission per transaction of 0.3 pips.
The brokerage firm presents bonus and referral programs. In addition, all clients have access to calculators for evaluating trading position parameters, news digests, and economic calendars.
Paradtrade Vital Info
The history of the brand is presented in detail on the website of this broker. So, the project started as part of Merit Group in May 2019, and then became an independent legal entity, Paradfintrades LLC. As for the domain, it was created only in February 2021. Presumably, this is due to a redesign of the platform.
We checked the registration and regulation of Paradtrade and partially confirmed the accuracy of the legal information. Indeed, this site belongs to Paradice Trade LTD, registered in Comoros Union. In addition, this company is regulated on the island of Mwali, as confirmed by the MlSA license number BFX2024133 dated June 24, 2024. However, we did not find any permits from the authorities for this organization either in Prague or in London.
SCAM!!! fraudsters made me reset my balance of 766 euros :( Besides, spammers bother me all the time now, because these scammers published my contacts on darknet.
This is a collection of scammers and thieves who only know how to deceive beginners :( I came here with zero experience, but with great ambitions. I was hoping for professionals to help me grow my capital, but all they did was impose an advisor on me and steal all my money from my account. I lost £342 in one instant.
I switched to this trading platform after I saw an advertisement online, which stated that here you can buy cryptocurrency at the most favorable rate and use it as an investment instrument. However, I did not find any benefit from buying the currency here, but only saw a scam.
I have invested multiple times in crypto trading on paradtrade.com. At first I traded small amounts to check the broker for reliability and honesty, and now I am gradually increasing the trading volume. I want to earn with ParadTrade for a long time, as I see this project as a good financial partner.
The broker conducts its business dishonestly. My transactions never reached real liquidity and suppliers, I could verify this by looking at stock quotes. All trading with PARADTRADE is just a theatrical game and a pathetic imitation of trading activity. In the end, my cooperation led to the loss of 365 dollars, this is not work, but simply draining money in the scam.
I am going to tell you about the experience I had with ParadTrade. I am very disappointed that I started working with them at all. First of all, it is because they promise big profits, but these promises are not even close to reality. For example, the website states that there are no slippages in the terminal that this broker uses. However, this is not true in reality. I encountered requotes occurring almost every time I placed an order, which is absolutely unacceptable for a modern broker. And this is only one aspect in which paradtrade.com deceives its clients, and in fact there are many such shortcomings, because of which I will not work with this broker anymore
I recommend you to pay special attention to automated trading. According to PARADTRADE consultants, you can simply set some parameters and pending orders, and then the program will work for you. I once placed orders from Wednesday to Thursday and I got burned badly on the price difference, because this robot did not work. n addition, as a welcome bonus that I was promised upon registration, I was credited with some strange tokens of unknown origin. Of course, they were burned after 4-5 days. All in all, I wouldn't recommend PARADTRADE broker to you.
This is a disgusting company, scam... I join all the negative reviews... these crooks only know how to persuade you to deposit... the rest is all a scam... no money withdrawal at all... Think about it!
I started cooperating with these crooks from the moment when they promised traders interesting earnings in one of the groups on social networks, while the crooks talked about the incredible return on investment. So many members of the group immediately responded very well to this company in the comments that I got a good impression and a desire to try investing in Paradtrade. The manager of the company said that the investment would be distributed on the stock exchange, and he named the most popular one, so that I would get the profit guaranteed. Meanwhile, as soon as I deposited the money, he called me just a week later and told me that I had to deposit more money, otherwise all my investments would be lost. I deposited an additional 1,500$ and after that nobody contacted me and the fraudsters blocked my account on paradtrade.com. SCAM!!!
I have really enjoyed working with ParadTrade broker. They really give great bonuses to every new registered user. The bonus of a quarter of your deposit is a great opportunity for you to increase your capital in the future while trading. In general, ParadTrade trading platform is very interesting. It works as quickly and efficiently as possible. Any beginner can easily understand the tools here thanks to the intuitive interface. In general, I have impressions as positive as possible and I can recommend this trading platform to all traders as a reliable partner.
I started trading with a minimum deposit on this platform and then gradually reached an impressive amount of over £8,350. Moreover, I recommended this broker to my referrals because I thought that Paradtrade was a reliable company. And now, when I lost all my money here, I realized my mistake. My referrals consider it a scam. Not only capital was lost, but also the trust of good buddies.
The first thing that really caught my eye was the terribly slow terminal. I hardly encountered such a problem when I worked with other brokerage companies. I could not place a single order at the correct price - there were necessarily requotes on paradtrade.com, and very serious ones at that. Naturally, it is out of the question that I could calmly implement my own trading strategy here!! Any trader, even the most experienced, will lose all his money and a lot of nerve cells, working with such a lousy terminal.
I turned to this broker for help in realizing my plans to make money online, and my investments promised to be successful, because I was provided with the best personal mentor, according to PARADTRADE staff, who told me what to do. However, he asked me for a new deposit every time after the end of the trading session in order to invest more money profitably, I followed my mentor's advice and I deposited the right amount into my account every time we parted ways. However, it got to the point where I had to sell off assets and get money into my bank account, about €12k, and then PARADTRADE abruptly closed my account access. I tried to contact the manager and sort everything out, but his phone was no longer available...
In general, everything is good at PARADTRADE, except for the small variety of channels for communication with the support team. I contacted them several times and all the time I had to wait several hours for a response and wait for the problematic issue to be resolved, of course, this is not good. As for trading and payment discipline, I do not have any comments.
There are spreads much larger than stated. I remembered the size of 0.2 or more. However, if we talk about advantages, Paradtrade has relatively small commissions, in addition, you can earn on the referral program (I am surprised, but many of my friends from social networks willingly use the promo code and open accounts at paradtrade.com), and also the starting deposit is small (only 5 dollars). So, I recommend this broker to both beginners and experienced traders.
The company cheats the people and hides from justice offshore. I tried to find the founders of this scam project when I had problems with withdrawal of funds. However, it was useless... I have the impression that this organization exists exclusively online, as the contacts are fake on the platform, it turned out to be unreal to reach the support!!! Thus, my $6,547 went into the pockets of scammers.
The company Parad Trade, which calls itself a broker with a worldwide reputation, is engaged in ordinary fraud. And, unfortunately, I also fell for their bait. The employees of the company promised me gold mines due to the best trading conditions on the market. However, in fact it all turned out to be just empty words. They deceived me at the very first stage - when I topped up my account. I transferred €270, the amount needed to open a brokerage account with a good bonus, but in the end this money never arrived to my paradtrade.com account. I couldn't get through to the support team. In the end, my account was just blocked after a few hours and my money was gone. That is why I am writing my review, so that other users do not repeat my mistakes and do not believe the promises of outright scammers.