In the world of online trading, one must be careful to avoid scam brokers that promise big returns but end up taking your money. One such broker is Paraswap, which has been the subject of several warnings and complaints. In this article, we will review Paraswap and provide you with all the information you need to make an informed decision about this broker.
Company Overview
Paraswap is a cryptocurrency exchange platform that claims to offer fast and secure trading services.
Broker Name | Paraswap |
Website | https://www.paraswap.io/ |
Location | Unknown |
Regulation | Not regulated |
Traders’ review | Negative |
Team
There is no information available about the team behind Paraswap. The company’s website does not provide any details about the management team or the employees. Even if they don’t have any about us section.
Services or Products
Paraswap provides a platform for trading cryptocurrencies. Users can trade a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. The platform claims to offer fast trading services with competitive fees.
Trading Platforms
Paraswap provides a web-based trading platform that is accessible from any device with an internet connection. The platform is user-friendly and provides users with access to a range of trading tools and features.
License and Regulations
License Status
Paraswap does not provide any information about their location, license, or any other information. It clearly indicates that they are running a scam.
Regulation Status
As mentioned above, Paraswap is not regulated by any financial regulatory authority. This means that the broker is not held to any legal standards or requirements, which puts traders at risk.
Why Dealing With Unlicensed Brokers Is Risky?
Dealing with unlicensed brokers is risky because they are not held to any legal standards or requirements. This means that they can engage in unethical practices without consequence. Additionally, unlicensed brokers do not have to comply with any regulatory requirements, which puts traders at risk of losing their funds.
Several clients have reported poor customer service from Paraswap. Some clients have reported that their emails and phone calls are ignored, while others have reported that the support team is unhelpful and rude.
How Can FXfarmupdate Help You If You Get Scammed?
If you have been scammed by Paraswap or any other broker, you can seek help from FXfarmupdate. We provide information and resources for traders who have been scammed. The website provides a list of scam brokers, as well as information on how to report a scam and how to recover your funds. If you get scammed, you can submit your case to us and we will evaluate the case. Then we will provide you with a free consultation and service recommendations to help you in recovering the lost fund.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Final Thought
In conclusion, Paraswap is an unlicensed broker that has been the subject of several legal warnings and complaints. The broker is not regulated by any financial regulatory authority, which puts traders at risk. If you are considering trading with Paraswap, we recommend that you proceed with caution and do your research before investing any funds.
