We put a lot of effort into trying to find out more about different account types this broker is offering. However, it seems that all traders get access to the same account type. We appreciate the democratic approach, but find it unfair towards traders who want to deposit more as they get the same service as those who deposit the bare minimum. While keeping in mind that modern traders wish to use advanced tools and features, we were surprised how this broker doesn’t advertise any special trading tools or services that might be useful to an average trader.
PariFXtrade Wealth Management
The only interesting feature we stumbled upon is wealth management. It is a special service that, according to the broker, helps traders manage their investments, diversify their portfolio and make most out of their capital. However, upon further investigation, we realized that this is simply a managed account. A managed account is when traders give special “managers” employed by the broker, access to their trading funds or simply trust their recommendation. There are many reasons why no trader should agree to this, as it is a certain sign of a scam. Managed accounts are not to be confused with additional educational courses offered to traders with professional trading accounts. Traders must be sure that they trade according to their own, and not according to by broker’s instructions.
PariFXtrade Demo Account
PariFXtrade doesn’t have a demo account. In order to research the platform and get a feeling on what it’s like to trade with this broker, they have to make a deposit. Many traders use the demo account as their basic learning tool, and lack of this amazing feature is definitely a downside. There are many brokers who offer a free demo, without making a deposit.