Parker Prime Review

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In this review we shall explicitly explain why you should avoid Parker Prime similar to lest you lose your money to this scammer.

Who is Parker Prime?

ParkerPrime is a CFD brokerage we believe is based in both Bulgaria and Estonia. It provides the Sirix trading platform, not the the MetaTrader 4 platform. The required minimum deposit is exceedingly high at $10 000 and the spread is also quite unfavorable at 3 pips on EUR/USD.

This broker is owned by an Estonian company  with the name CloudFin OU who has an operational address in Bulgaria.

There is no evidence of a licence from the regulator. All financial service providers must be regulated by the regulator in the jurisdictions that they operate in. This broker also operates in the UK and is not licences by FCA. This is a red flag that points us to conclude that this is a scam.

Is Parker Prime a scam or legit?

This broker is a scam that you should avoid by all means.

Offshore brokers who are not licensed are very risky to trade with. They will always lure potential investors to deposit with them then disappear with their money.

The minimum deposit is $10000 which is way too much in this industry. This is a trap set so that they make as much money as possible before they decide to disappear.

There is a withdrawal fee of 3.5 percent for credit cards and $20 for wire transfers which is quite excessive and definitely raises the cost of trading with the brokerage. Furthermore, there is a dormant account fee of $100 where every account that has been inactive for more than three months shall be charged. We consider the amount quite high and excessive.

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