Parkmoney

ParkMoney Information

ParkMoney is a trading platform founded in 2019. It offers access to a variety of market instruments, including forex, metals, energies, indices, shares, and commodities. The platform provides a demo account for practice trading and operates on the MT5 trading platform. ParkMoney offers leverage of up to 1:400 and spreads starting at 0.1 pips (for EUR/USD). Additionally, ParkMoney offers Partnership Opportunities, allowing clients to join as Introducing Brokers (IBs).

Pros & Cons

Is ParkMoney Legit?

ParkMoney operates as an unregulated trading platform, which means trading on this platform involves risks.

What Can I Trade on ParkMoney?

ParkMoney offers trading in a diverse range of tradable assets, including forex, metals, commodities, indices, shares, and energies.

Account Types

Aside from offering a demo account, ParkMoney provides limited information about the available account types on its website.

Leverage

ParkMoney provides leverage up to 1:400 for most of the assets on this platform. When it comes to commodities trading, ParkMoney offers a flexible leverage up to 200:1.

Fees

ParkMoney asserts to provide low spreads for all assets available on its platform.

In terms of fees, ParkMoney asserts that it charges lower transaction than other financial markets for trading in forex, energies, and commodities. Furthermore, ParkMoney doesn't charge extra fees or Interest Swap Charges for metals and indices trading. Apart from that, it charges an inactive fee of 5 EUR/USD/GBP.

Trading Platform

Traders on ParkMoney get access to MT5 (MetaTrader 5), which is a popular electronic trading platform widely used for trading forex, stocks, futures, and CFDs (Contracts for Difference). MT5 offers advanced charting, trading tools, automated trading via Expert Advisors (EAs), and supports multiple order types and technical indicators.

Deposit & Withdrawal

ParkMoney supports payment options such as credit cards, bank wire transders, and e-wallet, with a minimum deposit of $100. However, as to other details such as processing time, accepted currencies, and fees, ParkMoney does not provide.