• Company name: Black Parrot Limited
  • Registration/license: Marshall Islands
  • Registration/license requirement: USD 2,000

About TradesPrime
🗺️ Registered inMarshall Islands
🗺️ Type of LicenseOffshore License
🛡️ Is TradesPrime safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

Is TradesPrime a regulated forex broker or a scam?

no, TradesPrime broker is Non-Regulated Broker. It is NOT SAFE to trade.while we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.

TradesPrime is a Forex company registered offshore in the Marshall Islands. It is operated by Black Parrot Limited. The Marshall Islands is a popular offshore destination for Forex brokers, as it offers a variety of tax benefits (no income tax, no capital gains tax nor inheritance tax), the registration process is fast and low cost, and capital requirements are also very low, amounting to USD 2000.

Altough the company is not licensed in Spain, it was targeting Spanish residents and got blacklisted by the Spanish regulator CNMV (The National Securities Market Commission).

It is recommended to trade with brokers regulated by UK’s FCA or Australia’s ASIC instead. For example, the license from UK’s Financial Conduct Authority, requires EUR 125,000 of capital for the STP license aside from client deposits.

The regulator also protects customers when authorized financial services firms fail. Check the list of the FCA-regulated brokers here.

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