Promenade LTD Broker Review
Promenade LTD is a broker that presents itself as a gateway to financial success but is, in reality, a scam project. Established in 2024, Promenade LTD operates with the facade of a legitimate brokerage, but the truth behind its promises is far from reassuring.
With its base in the UK, Promenade LTD lures unsuspecting investors with the allure of a wide range of financial instruments, including forex, commodities, indices, ETFs, and stocks. However, the reality is that this broker is nothing but a risky intermediary for your investments.
From the moment you land on their website, the warning signs are evident. The design is amateurish, and the lack of transparency is alarming.
- Broker status: Unregulated
- Regulated by: No info
- Website: promenade-ltd.com
- Headquarters Country/Region: UK
- Supported Platforms: Personal Platform
- Minimum Deposit: $500
- Cryptocurrencies: Yes
- Types of Assets: Forex, Commodities, Indices, ETFs, Stocks
- Maximum Leverage: No info
- Free Demo Account: Not available
- Accepts US clients: No info
Trading Assets
At Promenade LTD, clients are offered a range of trading assets including forex, commodities, indices, ETFs, and stocks. However, potential investors should be wary, as trading with this unregulated broker poses significant risks. Forex and commodities trading, which promise potential profits, are likely to lead to losses under Promenade LTD’s dubious practices. The same applies to indices, ETFs, and stocks, which are presented as diversified investment options but are, in reality, part of a facade hiding the broker’s true nature. It’s crucial for investors to carefully consider the risks before engaging with such an untrustworthy broker.
Regulators and Broker Licenses
Promenade LTD claims to be regulated by GOV.UK with a Category 3 license for providing investment services. However, this assertion raises serious doubts and is likely misleading. GOV.UK is not a financial regulator, and there is no Category 3 license in the FCA regulatory system. This suggests that the broker’s regulatory claims are dubious at best and potentially deceptive. Without proper regulation, investors are left exposed to significant risks, as there is no oversight to ensure fair and lawful business practices. This lack of regulation undermines investor protection and raises concerns about the safety of funds deposited with Promenade LTD.
Types of Accounts
Certainly, here’s the information about each account type and the bonus system:
Classic Account:
– Minimum Deposit: $500
– No commission per lot
– Variable spreads
– Micro Lot Trading (0.01)
– Trading Instruments: Forex
– Basic Trading Signals
Silver Account:
– Minimum Deposit: $5000
– No commission per lot
– Variable spreads
– Micro Lot Trading (0.01)
– Trading Instruments: Forex, Commodities
– Standard Trading Signals
Gold Account:
– Minimum Deposit: $10000
– No commission per lot
– Variable spreads
– Bonus from 20%
– Micro Lot Trading (0.01)
– Trading Instruments: Forex, Commodities, Stocks
– Full Trading Signals
Diamond Account:
– Minimum Deposit: $25000
– No commission per lot
– Variable spreads
– Bonus from 30%
– Micro Lot Trading (0.00)
– All Trading Instruments
– Full + Inside Trading Signals
Regarding the bonus system, it’s worth noting that for Gold and Diamond accounts, Promenade LTD offers a bonus of 20% and 30%, respectively. However, this bonus system is a red flag among brokers. Bonuses like these are often used to encourage clients to invest more money, especially with these two accounts requiring a minimum deposit of $10000 and $25000, respectively. However, large bonuses like these are often just a lure for naive clients, as they are frequently accompanied by hidden conditions and requirements, and may involve risks of fund loss.
Unfinished Interface and Site Design
Promenade LTD’s website design and interface leave much to be desired. The site appears to be hastily put together, with evident shortcomings in structure, design, and user interface. A poorly designed website raises questions about the broker’s ability to allocate sufficient resources for creating a quality platform. This, in turn, raises doubts about its ability to provide protection against negative balances or fulfill promised payouts. Such investment guarantees seem dubious when the very platform is unprofessional.
Conclusion on Promenade LTD
Promenade LTD presents itself as a brokerage, but closer inspection reveals a risky endeavor for investors. The lack of regulation, questionable website design, and absence of clear information on crucial aspects like trading platforms and customer support paint a concerning picture. Coupled with a bonus system that appears to be a lure for unwary clients, Promenade LTD emerges as a scam project. Investors should approach with extreme caution, as the likelihood of losing funds is high with this broker.
