Palmer Finance Company Review – Scam Hunts Retail Traders

Is Palmer Finance Company Scam or Legit?

Palmer Finance Company is nothing more than another shady, unregulated broker who gives you and your investments a great deal of pleasure. If you want to trade safely and profit, be sure to stay as far away from this broker as possible.

Palmer Finance didn’t seem like a decent broker right after we first met. Seriously, have you seen this website? It is absolutely typical and formulaic. It evokes nothing but a desire to close it down. Those empty words really annoy us everywhere, too. “There’s no better time to invest than now.”

Palmer Finance Company has managed to remain largely anonymous. The broker gave no guarantee that they were in any way regulated or trustworthy. They claimed to be based in Colorado, USA, but when we checked the database of one of the financial regulators responsible for licensing forex brokers in that country, we found no evidence that they are indeed regulated or even registered. Moreover, the broker was offering terms and conditions that they could not legally offer in the US, such as extremely high leverage.

Working with unregulated brokers is dangerous because you will have no guarantee that such brokers will treat you fairly or in compliance with all laws. Regulated brokers have to meet many requirements in order to get and keep their licenses, while such dubious companies can conduct business in any illegal way they see fit.

Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

Palmer Finance Company Trading Conditions

Palmer Finance Company is a Forex and CFD broker. He claims to have provided the best conditions for traders. We do not agree with it.

The broker has five types of accounts. There is even a small minimum deposit. Only 100 pounds. Trading on the account for beginners is almost impossible. If you choose it, you will have access to 9 currency pairs. That’s all your trading tools. In addition, you’ll get tired of the size of the spreads and inevitably want to open the next, more profitable account.

And here’s the surprise. You’ll need to deposit £5,000 already. Palmer Finance will only add one asset type to currency pairs. It doesn’t say which one. In general, to get access to all trading instruments, you will need to open at least a Gold account. And you need to fund $100,000 to do so. Starting with a Gold account, you will also be given a number of services close to the market. For example, loans from the company, trading signals, insured trades, bonuses, etc. Basically, it is literally everything that authoritative regulators forbid.

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – Empire Swiss, PoloTrade365, Everrise Brokers.

Legal Information and License

Palmer Finance claims that its management company is registered in England. It is listed in the registry under number 05305159. With this registration information, we found Palmer Finance incorporated in 2004. The type of activity of this firm is financial intermediation, not classified anywhere. It doesn’t look very much like a brokerage yet.

In addition, all brokers in the UK must be authorized by the FCA registry. However, there were only three matches in the Palmer Finance application. And these companies do not belong to the company with registration number 05305159. The latter is simply not on the registry. This means that its services are not actually licensed. “Palmer Finance is simply impersonating a suitable legal entity.

Bonuses and Withdrawals

Like many other scam companies, Palmer Finance offers bonuses, but hasn’t missed the opportunity to add some scam points to those bonuses. If you received a bonus, you will need to reach a turnover of 10 mini lots for every $10 bonus before you can place a withdrawal request. This means you won’t be able to withdraw anything, including your profits and deposits. No legitimate broker will ever impose such ridiculous conditions and try to prevent you from accessing your own money. Be careful and always look for such questionable bonus-related clauses in the scammer’s Terms of Use.

You will not be able to make a deposit with this broker until you confirm your account. In order for the broker to do this, you will have to disclose a lot of personal information and documentation. On the website, they stated that you will be able to make a deposit by bank transfer and credit card, two very secure payment methods. However, we have a strong suspicion that this will turn out to be a lie. Fraudulent brokers usually try to stay away from such payment solutions because they do not provide complete anonymity.

If you have already deposited funds and can not withdraw them, do not despair. There is a solution. Book our free consultation to get your money back from this scammer.

Palmer Finance Company: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about Palmer Finance Company. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Palmer Finance Company!