General Information
Paramount Is A United Arab Emirates-based Forex And CFD Broker That Offers Trading Services On A Wide Range Of Financial Instruments, Including Forex, Commodities, Precious Metals, Cryptocurrencies, Stocks, And Indices. Although Paramount Offers A Diverse Range Of Products And Flexible Account Options, Its Unregulated Status Is A Wake-up Call For Potential Traders.
Pros And Cons Analysis
Pros
Multiple Market Instruments: Offers Multiple Asset Classes Such As Forex, Precious Metals, Cryptocurrencies, Stocks, And More.
High Leverage: Standard Accounts And Copy Trading Accounts Offer Up To 1:500 Leverage, And Professional Accounts Offer 1:100 Leverage.
Multiple Payment Methods: Support Telegraphic Transfer And Cryptocurrency Deposits And Withdrawals, With A Minimum Amount Of 10 Dollars.
High Compatibility: Offers Trading Platforms Suitable For Different Devices, Including Android, IOS And Windows.
Disadvantages
Unregulated: Lack Of Supervision By Regulators, Increasing Potential Legal And Funding Risks.
Limited Information On Trading Platforms: No Mention Of Specific Trading Platforms Used, Such As MT4 Or MT5.
ECN Accounts Have Higher Commissions: 4 Dollars Are Charged Per Trade.
Professional Accounts Have Limited Leverage: Only 1:100 Leverage Is Provided.
Dynamic Spreads: The Spread Structure Is Not Clearly Stated, Increasing The Cost Uncertainty For Traders.
Trading Tools
Paramount Offers The Following Trading Tools:
Forex: Trading Major And Minor Currency Pairs.
Precious Metals: Gold, Silver, Etc.
Cryptocurrencies: Bitcoin, Ethereum, Etc.
Stocks: Such As Apple, Google, Etc.
Indices: Such As S & P 500, Dow Jones.
Commodities: Crude Oil, Natural Gas, Etc.
Trading In Binary Options, Futures, And Mutual Funds Is Not Available.
Account Types
Paramount Offers Four Account Types:
- Standard Account
Minimum Deposit: 10 Dollars
Leverage: Up To 1:500
Spread: 1.6
Commission: Free
Overnight Interest: Free
Suitable For: Novice Traders.
- ECN Account
Minimum Deposit: $2,000
Leverage: Up To 1:500
Spread: 0.6
Commission: $4/pen
Overnight Interest: Free
Suitable For: Moderate Experienced Traders.
- Professional Account
Minimum Deposit: $5,000
Leverage: 1:100
Spread: 0
Commission: $7/pen
Overnight Interest: Yes
Suitable For: Professional Trader.
Copy Trading Account
Minimum Deposit: 10 Dollars
Leverage: 1:500
Spread: 1
Commission: Free
Overnight Interest: Free
Suitable For: Traders Who Wish To Copy Successful Traders.
All Account Types Are Offered With A Minimum Trading Lot Size Of 0.01, Suitable For Different Trading Strategies.
Fees And Leverage
Spreads:
Standard Account: 1.6 Pips
ECN Account: 0.6 Pips
Professional Account: 0 Pips
Copy Trading Account: 1 Pip
Commission:
Standard And Copy Trading Account: Free
ECN Account: 4 Dollars/pen
Professional Account: 7 Dollars/pen
Dynamic Spread Structure And Commission Policy Bring Different Trading Costs For Traders, Which Need To Be Selected According To The Account Type ...
Trading Platform
Paramount Provides A Trading Platform Compatible With Different Devices, Supports:
Operating Systems: Windows, IOS, Android, Etc.
Although The Platform Is Highly Compatible, The Specific Trading End Point Used Is Not Mentioned, Which Increases The Uncertainty Of Traders' Operations.
Deposit And Withdrawal
Paramount Offers The Following Deposit And Withdrawal Methods:
Telegraphic Transfer:
Deposit: Completed For Free
Withdrawal: 50 Dollars Processing Fee
Processing Time: Deposits Arrive Immediately, Withdrawals Up To 24 Hours.
Cryptocurrency:
Minimum Amount: 10 Dollars
Maximum Amount: $100,000
Processing Fee: None
Processing Time: Up To 24 Hours.
SUMMARY
Paramount Has Attracted The Attention Of Many Traders As A Platform That Offers A Variety Of Trading Tools And Flexible Account Options. However, Its Unregulated State, Opacity Of The Trading Platform, And High Commission Fees Pose Latent Risks For Traders. For Traders Seeking A Low-risk, Transparent Broker, It Is Safer To Consider A Regulated Broker.
