Marlpark LTD will tell you everything you need to know about this, allegedly UK-based broker. Their website is filled with trading news and available assets on their website, and it looks like you can find all the information regarding the firm.
But when you take a closer look it all falls apart since this company got blacklisted by the FCA. However, if you are still interested in this enterprise because they promise bonuses and other incentives, read this article till the end.
|Broker Type||Forex, indices, commodities, and stocks|
Regulation and Safety of Funds at Marlpark LTD
Marlpark LTD Forex brand is allegedly owned by Malpark Limited, registered in the UK. We’re provided with a company number 02141098. This company is registered in the UK, but back in 1987.
The FCA has issued an official warning stating that malparkltd.com has nothing to do with a registered business since real Malpark Limited doesn’t offer financial services.
This means two things. First, Marlpark LTD is stealing the corporate identity of another company. Secondly, they are not authorized to offer services in the UK which means that their clients would not be getting access to many vital protections.
Some examples of regulatory authorities that issue brokerage licenses are The Cyprus Securities and Exchange Commission (CySEC), and The Australian Securities and Investments Commission (ASIC)
If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.
Marlpark LTD Trading Software
Marlpark LTD offers an average web-based trading platform. There is nothing wrong with a simple, accessible platform but the tools and features such software offers are quite limited. You won’t have advanced tools such as EAs, social trading, etc.
Trading platforms like MetaTrader 4 and MetaTrader 5 are the way to go. They are easy to use and have a variety of convenient and powerful trading functionalities. However, Scheme firms tend to use MetaTrader as a lure. Don’t trust anything that comes from this fraudulent brokerage. Save yourself a headache and find a legitimate investment firm offering MT4 or MT5.
Marlpark LTD promises the lowest spreads in the forex industry along with a pure ECN execution. While promising the lowest spreads in the industry, the company offers 0.6 pips for EUR/USD pairs. This is a solid offer that is way below average but not the lowest.
When we talk about leverage, the maximum leverage advertised on the website is 1:400, while the one we saw on the Marlpark LTD platform was just 1:200.
These conditions don’t change the fact that we are dealing with a broker that’s a known fraud – since it’s stealing the identity of another company and isn’t authorized for providing financial services.
Deposit and Withdrawal Options
Marlpark LTD accepts a variety of deposit methods – credit or debit card, wire transfer, a couple of e-wallets like QIWI and CashU, and some unspecified cryptocurrencies. Allegedly, there are no deposit and withdrawal fees charged by the broker.
The minimum deposit is $250, which is a lot higher than some legitimate brokers ask for. With them, you can open your account for $5-$10. But, most importantly they are licensed for the service they offer. They aren’t scam brokers like Marlpark LTD.
You can withdraw your money using wire transfers, credit/debit cards, and cryptocurrencies. Transfer fees depend on the bank for the first two, while there are no fees for crypto withdrawals.
If you accept the Marlpark LTD bonus, you will not be able to withdraw your funds until you reach an unspecified minimum trading volume. Since this matter is not discussed in the Terms and Conditions, it leaves space for the brokerage to ask for any amount they like.
Marlpark LTD Trading Instrument
If you use the services of this broker can trade in the following markets:
- Currency pairs – EUR/USD, GBP/USD, AUD/CAD
- Commodities – gold, silver, oil
- Indices – Dow Jones, NASDAQ, FTSE100
- Shares – Amazon, Apple, Google
Offshore Brokers’ Fraudulent Tricks
Scammers like Marlpark LTD spend a lot of money on their online advertising, promising benefits and fairy tales that credible companies don’t. That’s because the trading market is volatile, and you can’t promise your users quick returns, especially piles of money. That can happen, of course. But it rarely does. People lose money much more often.
Legit brokers are facing some restrictions which may seem disappointing to some traders. Some of them aren’t allowed to provide leverage higher than 1:30 or 1:50, nor to offer trading incentives such as bonuses. Financial swindlers don’t obey any rules, and that’s why they promise things that are illegal (to regulated brokers).
Recommended Forex Brokers
The most valuable asset is our time. Instead of surfing through the internet, reading forums and blogs, and desperately looking for a real-deal broker, you can take the easy road, and choose one of the several brokers we advise you to.
We have listed several reliable companies like FXTM, OctaFX, FP Markets, XM, HFM HF, and FBS Broker. Everything about them is transparent and easy to check. They are regulated, and they have years of track record in the trading market.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Marlpark LTD Summary
Marlpark LTD claims to be a broker located in the United Kingdom. We know for a fact that’s not true because we researched the FCA’s register and their name didn’t show up among regulated brokers.
However, we did find an official warning from the FCA that says Marlpark LTD is stealing the identity of another company that is registered in the United Kingdom.
Marlpark LTD isn’t authorized for offering and providing financial services. They are financial swindlers.
FAQs About Marlpark LTD Broker
Is Marlpark LTD a Good Broker?
This is an unregulated company that is lying about its location and regulation. Also, they are blacklisted by the FCA. Under no means can this be a good broker.
What Is The Minimum Deposit for Marlpark LTD?
The minimum deposit is $250. That’s a lot higher than what legitimate brokers ask for. You can open a micro account for as little as $5.
Does Marlpark LTD Offer a Demo Account?
Marlpark LTD doesn’t offer demo accounts. You need to deposit the money to start trading.