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Parenta Financial Services Limited Review 2024: The Notorious Broker

Parenta Financial Services Limited Review

FCA warns UK investors about this broker, the reviews are mostly complaints, and the broker operates without a license, just like 500 Markets. Additionally, there are multiple scam allegations. Is there one benefit of using this brokerage company or is it the worst choice you can make? 

From head to toe, we evaluate this company so you can make better trading decisions. This notorious broker faked reviews, lied about regulations, and still keeps presenting itself as a reliable company. Everything is uncovered in this Parenta Financial Services Limited review. 

About Parenta Financial Services Limited

The broker claims to provide exceptional trading conditions, unparalleled liquidity, and narrow spreads to its traders, however, that is far from the truth. The best indicator of that is Trustpilot reviews, which are mostly complaints. But this is not the end of this notorious brokerage. 

The company claims to have a registered office in London, however, the FCA warning says otherwise. Additionally, this trading firm is as transparent as mud and according to ScamAdviser, the domain has a very low trust score of 1. 

We are happy to expose the firm’s real face and shed a bright light on its operations so keep reading our Parenta Financial Services Limited review. 

Company Type Broker
Legal name Parenta Financial Services Limited
Regulation Unregulated
Registered in 39-45 Finsbury Sq, London, LND – Fake address
Established 2023
Website parentafinancialservicesltd.com
Financial Authorities Warnings
  • FCA
Contacts
If a withdrawal is possible Highly unlikely
Fees
  • Hidden fees
If Active on Social Media: No
Investor Protection: None
Activity areas United Kingdom, Ireland, Poland, Netherlands, France;
Main threats Unregulated; FCA warning; Scam allegations;
Main perks None

Legal Information

The Parenta Financial Services Limited broker operates without regulatory oversight. Despite their claims of being registered in the UK, FCA contradicted those claims by publishing an official warning, as the broker was mostly targeting UK investors. 

There are even forums on Quora about traders who lost their funds and there is not much they can do because the broker is unregulated. Choosing a regulated broker is imperative for success and Parenta Financial Services Ltd won’t get you far. 

Parenta Financial Services Limited Features

After registering and depositing the minimum of $250, you will gain access to a broker’s terminal that enables trading in Forex, stocks, indices, and commodities. You can forget about trading on the well-known platforms like MT4 or MT5. Parenta Financial Services Limited Forex includes minor, major, and exotic pairs, with over 50 possibilities. 

Trading stocks like NYSE and NASDAQ, and energies like crude oil, coal, and power are available, along with indices DJIA, DAX, and NASDAQ, and metals like gold, silver, platinum, and palladium. Unfortunately, this broker is unreliable and it’s difficult to believe anything they say. 

Parenta Financial Services Limited Plans

There are a few account kinds, and each offers different benefits for a different level of expertise, at least according to the broker. However, the truth is, there are no benefits with either of the accounts. Here is a breakdown of the account types you can choose from: 

Savings Account

  • Monthly Interest Payouts
  • Lump Sum Insurance
  • Online Management of Capital
  • Fixed Interest

Forex/Crypto

  • Test period with an expert for 5 days

Commodities

  • CFDs Trading
  • Access to Webinars
  • Access to weekly reports from ECB

Stock

  • PAMM Account
  • Contracts Trading
  • Access to Webinars
  • IPO Allocation
  • Copy Trading

Indices

  • PAMM Account
  • Contracts Trading
  • Access to Webinars
  • IPO Allocation
  • Copy Trading
  • Personalized Trading Plan
  • Trading insurance
  • Out-of-Market Investments

Parenta Financial Services Limited Reviews

The domain has only been registered recently and it doesn’t even have a year, however, the number of reviews is highly suspicious, which is why Trustpilot blocked the overall score. According to several traders, you will have a better lack of trading yourself than investing in the Parenta Financial Services Limited scam. 

There are over 40 comments and the majority are 1- and 2-star reviews. Most of the complaints are focused on withdrawals and the broker’s schemes, such as the one where they promise high profits and returns but once you want to withdraw your funds, they ask you to deposit even more. 

Brokers like this are very common and they will stop at nothing to deceive you. Each time you want to withdraw, they will ask for more, until they finally disappear with your funds. Stay away from this scheme! 

Payment Options and Process

Use your Visa, Mastercard, CashU, or Wire transfers to place direct deposits. You can also fund your account by transferring funds from another broker or investment firm. There are no additional fees when depositing funds, however, we still strongly advise against it. 

The amount of withdrawals is only allowable to an equal amount of money deposited per Credit/Debit card or less. Greater amounts must be wire-transferred to a bank account. The processing time depends on the withdrawal amount, which usually is 1-5 business days. 

Weighing the Pros and Cons

Pros Cons
  1. None! 
  1. Unregulated 
  2. FCA Warning
  3. Scam Allegations
  4. Fake Reviews
  5. Lack of Transparency
  6. Limited Withdrawal Options and Complex Processes
  7. Withdrawal Issues Reported by Other Traders

Can I Make Money While Trading Online?

With this, we conclude our Parenta Financial Services Limited review, as it is clear as day that the broker is unreliable. From fake reviews to unregulated status, there is nothing beneficial you can expect while using firms like Fair Forex or the Parenta Financial Services Limited trading company. 

Finding a reliable company can present as challenging and just like in this case, you may have better luck trading by yourself rather than wasting your time and funds with shady agents. Plus, you have to dedicate time to learning about trading, which can take a while. 

But with AI.F, you can skip years of education and start immediately, where your only prior knowledge needs to be implementing the strategies AI.F offers. It can also forecast future price movements, provide insightful recommendations, and all that while you make the decisions. 

Call us now and for 14 days for free, you can experience the analysis bot firsthand without any commitment. Or if you would rather dive right in, call us and schedule a consultation with our experts for more information on AI.Fundevity.

FAQ Section

What is Parenta Financial Services Limited?

Parenta Financial Services Limited is an unregulated brokerage firm with multiple scam allegations and an FCA warning.

Is Parenta Financial Services Limited Legit?

No, Parenta Financial Services Limited lacks regulatory oversight, has faced scam allegations, and operates with a lack of transparency, raising doubts about its legitimacy.

Can I Make Money With Unlicensed Brokers?

Trading with unlicensed brokers like this one involves huge risks, including potential scams, fund loss, and lack of investor protection, making it challenging to profit.

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