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ParadTrade

Russia|2-5 years|
Suspicious Regulatory License|MT4/5 White Label|High potential risk|

https://en.paradtrade.com/

Website

Rating Index

MT4/5 Identification

MT4/5

White Label

TradingTechnologies-Demo

Germany
MT4
2

Influence

C

Influence index NO.1

Israel 4.97

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
TradingTechnologies-Demo MT4
Server Location Germany

Influence

Influence

C

Influence index NO.1

Israel 4.97

Surpassed 72.61% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+7 4993715391
support@paradtrade.com
https://en.paradtrade.com/
https://www.facebook.com/ParadTrade/

Licenses

No valid regulatory information, please be aware of the risk!

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No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

English

+7 4993715391

Broker Information

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Company Name

ParadTrade

Company Abbreviation

ParadTrade

Platform registered country and region

Russia

Company website
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Facebook

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Warning: Low score, please stay away!
Previous Detection : 2024-03-28
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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ParadTrade · Company Summary

ParadTrade Basic Information
Company Name ParadTrade
Founded 2023
Headquarters Russia
Regulations Not regulated
Tradable Assets Forex, Stocks, Cryptocurrency, Commodities, Indexes
Account Types One simplified account type
Minimum Deposit $5
Maximum Leverage 1:1000
Spreads 0.3 pips per trade in Forex
Commission Varies (0.1% for cryptocurrency trading)
Deposit Methods Credit card, bank wire, eWallets, cryptocurrency
Trading Platforms MT4 Platform, ParadTrade Web Platform, ParadTrade Mobile
Customer Support Phone, Email
Education Resources Glossary, Usage Video Course
Bonus Offerings Deposit Bonus, Invite a Friend

Overview of ParadTrade

ParadTrade, established in 2023 and headquartered in Russia, is a trading platform offering a diverse range of tradable assets, including Forex, stocks, cryptocurrencies, commodities, and indices. It maintains a simplified account structure, requiring just a $5 minimum deposit and providing traders with a maximum leverage of 1:1000. One notable feature is its competitive spreads, particularly in Forex trading. However, it's important to highlight that ParadTrade operates without regulation, which can raise concerns about fund safety and transparency.

Despite this regulatory gap, ParadTrade strives to deliver a user-friendly trading experience through platforms like MT4, a web-based platform, and a mobile app available on both Apple Store and Play Market. They also offer accessible customer support during business hours, comprehensive educational resources like a glossary and video course, and bonus opportunities such as a deposit bonus and a referral program for those looking to grow their trading community.

basic-info

Is ParadTrade Legit?

ParadTrade is not regulated by any recognized financial regulatory authority. As an unregulated broker, it operates without oversight from regulatory bodies that are responsible for ensuring compliance with industry standards and protecting the interests of traders. This lack of regulation raises concerns about the safety and security of funds, as well as the transparency of the broker's business practices.

Trading with an unregulated broker like ParadTrade carries inherent risks. Without regulatory supervision, there may be limited avenues for dispute resolution, and traders may face challenges in seeking recourse in case of any issues or disputes. Additionally, unregulated brokers may not be subject to stringent financial and operational standards, potentially leading to inadequate client fund protection and unfair trading practices.

regulation

Pros and Cons

ParadTrade, like any trading platform, presents a set of advantages and disadvantages. On the positive side, it offers a simplified account structure, allowing traders to focus on their investments without the complexity of multiple account types. It provides access to a diverse range of tradable assets, including Forex, stocks, cryptocurrencies, commodities, and indexes. The availability of a high maximum leverage of 1:1000 can be appealing to traders seeking amplified positions. Furthermore, ParadTrade offers educational resources and bonus opportunities. However, it's essential to be cautious due to the lack of regulatory oversight. The absence of regulation can raise concerns about fund security and transparency, potentially limiting options for dispute resolution. Traders should carefully consider these factors when deciding whether to use ParadTrade for their trading activities.

Pros Cons
Simplified Accounts Lack of Regulatory Oversight
Diverse Tradable Assets Limited Dispute Resolution Options
High Maximum Leverage Potential Fund Security Concerns
Educational Resources
Bonus Opportunities

Trading Instruments

ParadTrade offers a wide range of trading instruments:

  1. Forex: Trade major currency pairs in the dynamic foreign exchange market, suitable for traders of all levels.

  2. Stocks: Invest in leading global companies, diversify your portfolio, and potentially benefit from capital growth and dividends.

  3. Cryptocurrency: Trade popular cryptocurrencies like Bitcoin and Ethereum, as well as various altcoins, taking advantage of the crypto market's volatility.

  4. Commodities: Speculate on the prices of commodities such as oil and gold, adding diversity to your trading options.

  5. Indexes: Track the performance of major indices like the S&P 500, providing insight into overall market health.

market-instruments

Here is a comparison table of trading instruments offered by different brokers:

Broker ParadTrade RoboForex FxPro IC Markets
Forex Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Crypto Yes Yes Yes Yes
CFD Yes Yes Yes Yes
Indexes Yes Yes Yes Yes
Stock Yes Yes Yes Yes

Account Types

ParadTrade offers a simplified account structure. Instead of having various account names like Mini, Standard, or Premium, there is only one account type, making it easy to choose. The main difference between accounts is the execution type, which can be instant or market order execution. Everything else, like commissions and trading tools, remains the same.

You can trade a wide range of instruments, including Forex, commodities, indices, cryptocurrencies, stock CFDs, and ETF CFDs. The maximum leverage is 1:1000, with low spreads and automated trading support on the WebTrader MT7 platform.

Account activation starts at just $5, and there are additional services available based on your account level. These services include 24/7 support, access to training materials, and personal manager support, among others.

ParadTrade offers a straightforward account structure suitable for both new traders and experienced investors.

account-types

How to Open an Account?

To open an account with ParadTrade, follow these steps.

  1. Visit the ParadTrade website. Look for the “PERSONAL ACCOUNT” and “CREATE AN ACCOUNT” button on the homepage and click on it.

open-account
open-account

2. Sign up on websites registration page.

open-account

3.Receive your personal account login from an automated email

4.Log in

5.Proceed to deposit funds to your account

6.Download the platform and start trading

Leverage

ParadTrade provides traders with the flexibility to choose their desired leverage levels. Leverage is a powerful tool that allows traders to control larger positions in the market with a relatively smaller amount of capital. The maximum leverage available at ParadTrade is 1:1000, which is quite competitive and can amplify both potential profits and losses.

Traders should exercise caution when using leverage, as while it can magnify gains, it also increases the level of risk. It's essential to have a solid understanding of how leverage works and to implement effective risk management strategies. Novice traders, in particular, should be cautious and consider using lower leverage levels to mitigate potential losses.

The availability of high leverage at ParadTrade provides experienced traders with the opportunity to maximize their trading positions, but it's crucial to do so with careful consideration of risk and a well-thought-out trading strategy.

Here is a comparison table of maximum leverage offered by different brokers:

Broker ParadTrade IG Tickmill RoboForex
Maximum Leverage 1:1000 1:200 1:500 1:2000

Spreads and Commissions (Trading Fees)

ParadTrade provides a variety of trading instruments across different categories. In the Forex market, traders can access a wide range of currency pairs, including major, minor, and exotic pairs. The spreads in the Forex market are minimal, especially during peak market activity, with a commission of 0.3 pips per trade.

For cryptocurrency enthusiasts, ParadTrade offers opportunities to trade popular cryptocurrencies against the US Dollar. This includes cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and more. The commission for cryptocurrency trading is 0.1% of the transaction amount.

In addition to Forex and cryptocurrencies, ParadTrade offers trading in commodities, indices, stocks, and exchange-traded funds (ETFs). These assets cover a diverse range of options, allowing traders to create a well-rounded portfolio. The spreads and commissions for these instruments vary but remain in line with market standards.

Deposit & Withdraw Methods

ParadTrade offers a range of convenient methods for both depositing and withdrawing funds from your trading account. These methods include credit card payments, bank wire transfers, eWallets, and cryptocurrency transactions. The minimum deposit is 5$.

One notable feature of ParadTrade is its commitment to providing a seamless experience for its users. The platform covers the fees associated with these payment methods, ensuring that customers receive the full amount in their trading accounts. This means that when you deposit or withdraw funds, you won't be subject to any obligatory commissions or fees imposed by the payment systems.

deposit-withdrawal

Trading Platforms

ParadTrade offers a variety of user-friendly trading platforms to meet different traders' needs. The MT4 Platform is known for its ease of use and comprehensive features, making it suitable for both beginners and experienced traders. It provides various technical indicators and tools for effective market analysis.

The ParadTrade Web Platform is designed for convenient trading directly from web browsers like Chrome and Firefox. Its user-friendly interface ensures comfortable trading without the need for software downloads.

For traders on the go, there's the ParadTrade Mobile app available on Apple Store and Play Market. It offers quick access to accounts and the ability to trade from anywhere, ensuring traders never miss opportunities.

Customer Support

ParadTrade provides accessible and reliable customer support to assist traders with their inquiries and concerns. Traders can reach out to the support team via phone at +420488102480 during business hours, ensuring direct communication for prompt assistance.

For written inquiries and assistance, traders can email support@paradtrade.com, and the support team will respond to their queries promptly.

Customer support is available from Monday to Friday, providing assistance from 9:00 AM to 7:00 PM, ensuring that traders have access to support during the most active trading hours when they might need it the most. This availability enhances the overall trading experience, making it convenient for traders to seek assistance when necessary.

Educational Resources

ParadTrade offers educational resources to empower traders with knowledge and enhance their trading skills. One valuable resource is a comprehensive Glossary that provides traders with a reference guide to essential trading terms and terminology. This glossary serves as a handy tool for both beginners and experienced traders, ensuring that they have a clear understanding of the language and concepts used in the financial markets.

In addition to the glossary, ParadTrade provides a Usage Video Course to further assist traders in mastering the intricacies of trading. This video course offers practical insights and step-by-step guidance on how to use the trading platform effectively, implement various trading strategies, and navigate the markets with confidence. These educational resources are designed to support traders in making informed decisions and improving their overall trading performance.

Trading Tools

ParadTrade provides traders with a range of essential trading tools to enhance their trading experience and decision-making process. These tools are designed to provide valuable insights and analysis to help traders navigate the financial markets effectively.

Trends: ParadTrade offers access to tools and resources that help traders stay updated with market trends. Understanding market trends is crucial for making informed trading decisions, and these tools provide insights into price movements and market sentiment.

Trader's Calculator: The Trader's Calculator is a practical tool for traders to calculate various aspects of their trades, such as potential profits, risks, and position sizes. It assists traders in managing their risk and optimizing their trading strategies.

Technical Analysis: Technical analysis tools are essential for traders who rely on price charts and historical data to make trading decisions. ParadTrade provides technical analysis tools that include indicators, chart patterns, and drawing tools to help traders analyze price trends and identify potential entry and exit points.

Economic Calendar: Keeping track of economic events and announcements is vital in trading. ParadTrade offers an Economic Calendar that provides information on upcoming economic releases, events, and news that could impact the financial markets. Traders can use this calendar to plan their trades around significant market-moving events.

Bonus

ImProForex offers enticing bonuses to its clients, providing them with added value and opportunities to boost their trading capital.

Deposit Bonus: Clients of ImProForex have the chance to benefit from deposit bonuses. As per the terms of this promotion, clients can receive a bonus credited to their trading account for each deposit they make. Here's how it works: Upon opening a trading account, clients can replenish their account multiple times. For example, if they deposit $500, they receive a 25% bonus, which amounts to $125. This bonus is a valuable addition to their trading balance and can be used for trading or withdrawn, providing flexibility and potential profit opportunities.

Here's a table summarizing the bonus structure based on the initial deposit amount at ImProForex:

Initial Deposit Range Bonus Percentage
$500 - $999 25%
$1,000 - $4,999 50%
$5,000 - $9,999 75%
Over $10,000 100%

Invite a Friend: ImProForex also offers clients the opportunity to earn rewards without actively trading. Clients can invite friends and acquaintances to join ImProForex through various means, such as social networks, personal blogs, or direct referrals. For every new client referred, the existing client can receive up to 15% of the amount of their friend's first deposit as a commission. This commission can be withdrawn from the account or used for trading, providing clients with a passive income stream and an incentive to grow the ImProForex community.

bonus

Conclusion

In conclusion, ParadTrade, established in 2023 and headquartered in Russia, offers traders a simplified account structure and a diverse range of tradable assets, including Forex, stocks, cryptocurrencies, commodities, and indices. With competitive spreads and a high maximum leverage of 1:1000, it can attract traders looking for amplified positions. The platform also provides educational resources and bonus opportunities. However, it's essential to approach ParadTrade with caution due to its lack of regulatory oversight, which raises concerns about fund security and transparency. Traders should carefully weigh the advantages and disadvantages before deciding to trade on this platform.

FAQs

Q: Is ParadTrade a regulated broker?

A: No, ParadTrade is not regulated by any recognized financial regulatory authority.

Q: What is the minimum deposit required to open an account with ParadTrade?

A: The minimum deposit to open an account with ParadTrade is $5.

Q: What trading platforms are available on ParadTrade?

A: ParadTrade offers the MT4 platform, a web-based platform, and a mobile app for trading convenience.

Q: How can I contact ParadTrade's customer support?

A: You can reach ParadTrade's customer support via phone at +420488102480 during business hours or by emailing support@paradtrade.com.

Q: Does ParadTrade offer bonuses?

A: Yes, ParadTrade provides bonus opportunities, including a deposit bonus and a referral program for clients.

User Reviews

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xly1861818
more than one year
ParadTrade, a company registered in Russia, has very little information on the Internet. I tend to look for companies that already have many solid user reviews as my forex broker to reduce my risk of being scammed.
2023-03-01 16:00
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0
0
FX4690831782
more than one year
ParadTrade - a group of scammers who have changed the name of their scam for a couple of years (previous Merit Group)
2023-02-21 04:03
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