The rapid development of internet technology and the availability of digital devices worldwide has brought about an era of total online trading. Everybody wants to earn faster and more money and many actually succeed. Only the lucky ones, alas, are divided into two camps. On the one hand, there are traders who are lucky enough to meet responsible brokers with high reputation and understand the peculiarities of participating in virtual trading. On the other side are the brokers. Unfortunately, most offers of brokerage services are sent out by scammers hiding behind fake projects.
Scammers rely on the desire of inexperienced potential investors to make money without leaving home, without much effort, without special skills, knowledge and experience.
As a result, dubious organizations such as the hero of our review - the so-called broker Parkway FX Limited appear.
Behind a website with attractive numbers, flashy advertising slogans and pretty phrases there is often nothing real and true. There is just a group of scammers who run such projects with the only goal - to take their clients' money. And they do everything possible to make them believe as many users as possible.
The broker does not provide documentation or any other confirmation of the data provided. It turns out that the information about the achievements and the number of clients is a fabrication. A broker who calls for trading on his platform starts with the familiarity of cheating even in a small way. This is a very worrying wake-up call.
In order not to become another victim of online financial scams, it is enough to choose your trading intermediary carefully. For example, when familiarizing yourself with the project Parkway FX Limited, which call themselves world-renowned brokers, it is sufficient to review reviews of real customers, examine the ratings of experienced investors and just take a closer look at the official website of the organization. It does not hurt to check for licenses, try to find out the history and any facts that may tell more about the broker to which you, as a trader, are planning to entrust your start-up capital and future earnings on online trading platforms.
For example, in the case of Parkway FX Limited, it is immediately clear who we are dealing with. The scammers do not even bother to create a decent website - the homepage looks strange, there is almost no information on it, the site navigation is inconvenient. In general, the site looks somehow unfinished, untrustworthy. By the way, in social networks such as Twitter and Facebook to lull the vigilance of users, swindlers of Parkway FX Limited created some obscure groups to support their fake project.
The usual common practice of black brokers' behaviour. By finishing the review of Parkway FX Limited you will know what other facts indicate that trading using their platform is definitely not worth it.
Types of trading accounts offered by Parkway FX Limited
There is no information about trading accounts on the Parkway FX Limited website.
There is no information about the trading conditions on the trading platform. Also, the user of the website, the potential trader has no way to find out the amount of minimum deposit, which is required by this dubious broker to enter its platform.
Parkway FX Limited provides only demo access.
It is impossible to read about the terms and conditions in the Terms and Conditions section. They are simply not there, as well as such a section.
If you pay close attention to the data, the Parkway Fx project actually explicitly states that its clients do not provide real access to the trades and transactions. Traders who choose to work with this broker receive only demo access.
As if this information is not enough, in order to finally refuse to cooperate with the company, the authors of the document further emphasize the prohibition of copying data from the demo account for commercial use, threatening legal action.
I wonder what these threats are for, as it is unlikely that a conscious trader would be interested in selling fake quotes. Unless Parkway FX Limited scammers are wary of more nimble con artists.
Parkway FX Limited Trading conditions
According to information provided on its official website, Parkway FX Limited offers a CRM to work with clients. And in general, is a provider of everything: Forex applications, cryptocurrency settlement services and other offerings.
Parkway FX Limited accepts payments via individuals. It does not forego cryptocurrency transactions.
The broker does not tell about the amount of leverage allowed, as well as other important information for any trader.
But there is a lot of chatter on the website about the benefits and opportunities, which is not backed up by any statistics, current figures, charts or other available means, which are usually used by reputable brokerage companies.
Parkway FX Limited tells us that orders are generated almost instantly, up to 7,000 orders are processed on the platform and so on.
It is impossible to verify this data. Based on other information that has already been gathered about Parkway FX Limited, it is suspected that this too is false.
Traders are also told that the trading takes place with Data centres, international banks, and so on.
However, we have already found out that Parkway FX Limited does not allow its clients to access real trading platforms. However, it actively promotes MT4, describing its advantages and stresses that it is a classic of online trading, a must have for every trader.
The reality is like that:
Despite the fact that the website mentions thousands of clients from more than 170 countries, all we see is a bubble and not a real broker.
Overall, the site is empty, uninformative and gives no specifics about the trading conditions. Everything looks like a real scam that investors should definitely not deal with.
Parkway FX Limited Licenses
It is common for fraudulent brokerage companies not to post copies of regulatory documents on their official website. A project hosted by parkwayfx.com does exactly that.
Even some scam artists sometimes specify the footer of their website data on the presence of licenses in offshore zones. But not in this case.
According to WhoIs, the domain parkwayfx.com belongs to Parkway Fx Limited, London, phone +14806242505.
Registered on 21 May 2021. On the same date the establishment of Parkway Fx Limited is recorded, with its registered office in the UK at E14 5AB, Canada Square, London. Mr Guy Beresford John Denton is named as a director.
Specified activity type is "Financial intermediation not elsewhere classified", i.e., financial intermediation not elsewhere classified.
However, under Contacts, it is stated that the office is in Malaysia.
It would seem that the company should just shout in all the corners that it is related to England, but no, the website makes no mention of it.
But the site lists an address in Malaysia.
By the way, the name of Parkway FX Limited, or rather the name of the director who is identified with it, is associated with several, or rather five pseudo-broker sites.
For example, according to the Endole directory, Sich Capital Ltd was registered in the name of Mr Guy Beresford John Denton on 18 June 2021 in London. It is also a financial intermediary. The address is Rm305, The Pavilion 118 Southwark St, London. Immediately Sich Capital Ltd starts promoting a website that offers investments, at sichcapitalfx.net.
There are plenty of projects like this.
This is another red flag and a direct indication of fraudulent schemes.
There are a total of 622 companies listed at the legal address E14 5AB, Canada Square, London - the typical virtual offices in a skyscraper that scammers love. For almost £100 a month, scammers easily provide themselves with a nice and respectable backdrop.
The scammers use clever interweaving of projects, accounts and addresses to confuse anyone who tries to get to the truth.
Among the communication channels offered are the telephone number +6046158135 as well as email addresses firstname.lastname@example.org and email@example.com.
The number with the code +604 refers to British Columbia.
The interest in this broker is purely symbolic, no more than 40 enquiries per month and that only from Russia. Although the website lists only 2 languages: Chinese and English.
The choice of languages has been extended only for contacting the helpdesk.
There is no data on the licence. There is no point in looking for it from the UK regulator and even an offshore license will not help defrauded investors.
Parkway FX Limited Reviews online
Reviews from former customers of Parkway FX are predominantly negative. The statistics show that all enquiries come exclusively from the Russian Federation, which is confirmed by the reviews in Russian only.
Traders have warned that no one should trust Parkway FX in the future, as they have typical problems with cooperation with scammers: refusal to withdraw funds, requests to pay additional fees, advice to borrow money to work with them, etc.
Scammers feed their deceived clients with bright prospects, and when the money is already invested, generously give promises that the money is about to be withdrawn.
Parkway FX Limited lies in every phrase and action. By the way, traders point out that even after registration it is difficult to find out the deposit conditions - for example, on the official website parkwayfx.com there is no information at all about deposit and withdrawal methods. Scammers have not even provided payment system icons.
Safety and security of funds with Parkway FX Limited
No security of funds or personal data is worth mentioning here. Although scammers Parkway FX Limited try to convince users otherwise.
The lack of information on this subject on their website managers of Parkway FX Limited have expressed their opinion quite eloquently.
Parkway FX Limited is a typical fraudulent financial online project. It is not a reliable broker at all. Deceivers lure traders' money under non-existent trading platforms, on dubious accounts. For the sake of money security, you should not absolutely work with them.