Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighNo genuine forex licence anywhere; a Saint Lucia company registration (R026) is presented as a licence, and past ASIC and Russian claims were false.
Identity & transparency
6/10 · HighEntity, registration number and address are disclosed, but the operator has shifted entities (FZ LLE to Saint Lucia) and uses a registered agent address while framing a registration as regulation.
Withdrawals & conduct
5/10 · ModerateFund access complaints (withdrawal delays and refusals) are reported across review sources, but we could not independently verify a clustered, transaction specific pattern.
Reputation
6/10 · HighBroadly negative across independent review sites, several labelling it unregulated or a scam; some of the volume is aggregator driven.
Website claims
7/10 · HighPresents a company registration as a 'License Number' and historically advertised regulators it did not genuinely hold, including an abolished Russian authority.
Operational history
6/10 · HighThe domain and brand have run since 2016, which reduces the fly by night concern, but the current legal entity dates only to 2023 and follows a rebrand from a firm already flagged as unregulated.
Who they are
A quick desk file on the company behind the brand.
- Brand: Paramount Markets (earlier 'FxParamount' / 'Paramount FZ LLE')
- Legal entity: Paramount Markets Limited, Saint Lucia registration number 2023-00643
- Registered: Ground Floor, The Sotheby Building, Rodney Village, Gros-Islet, Saint Lucia; also lists a Business Bay, Dubai office
- Website: fx-paramount.com (registered April 2016)
- Only licence: none; it cites Saint Lucia 'License Number R026', which is a company registration, not a forex licence
- Offers: Forex, CFDs on shares, indices, metals and energy, and crypto, on MetaTrader 4, leverage up to 1:500
- Not accepted: the site references OFAC sanctioned jurisdictions
- Age claim: the brand traded from 2016 and earlier claimed 'since 2014'; the current Saint Lucia entity was only registered in 2023
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Saint Lucia (company registration)
Why we reached this verdict
How the evidence adds up.
We reached Likely Scam because the firm dresses up a registration as regulation and has a long record of false licence claims.
- The current site states it operates 'under License Number R026' with Saint Lucia registration 2023-00643. Saint Lucia has no forex regulator and issues no such trading licence, so a company registration is being sold to clients as oversight.
- An archived 2016 version of the same website claimed 'Australia ASIC #379035', 'Russian FFMS #1220', a Bulgarian FSC number and a New Zealand FSPR registration. The Russian FFMS had already been abolished in 2013, so that claim was impossible, and the others do not hold up as genuine authorisations for this operator.
- The operation rebranded from 'Paramount FZ LLE' in Dubai to 'Paramount Markets Limited' in Saint Lucia in 2024. Independent reviewers flagged the Dubai entity as unregulated in 2023 and the Saint Lucia entity as unregulated in 2024. The history carries across the rename.
- It takes deposits for leveraged trading and solicits internationally (Dubai address, UAE and other markets) while holding no recognised licence anywhere.
- Multiple review sources report withdrawal difficulties and unresponsive support and describe the firm as a scam.
Note on operating history: the 10.3-year track record rests on domain registration alone. No company incorporation date could be established, so this is an upper bound rather than a confirmed age.
Evidence ledger
Every finding, with its source and how strongly it points.
E1Domain fx-paramount.com was registered on 23 April 2016 through GoDaddy, so the website has existed for about a decade.
ModerateVerisign RDAPE2The current site states the firm is 'registered under Saint Lucia Registration Number 2023-00643 and operating under License Number R026', presenting a company registration as a trading licence.
E3Saint Lucia does not license or supervise forex trading, so the R026 registration provides no real regulatory protection; independent reviewers confirm the firm is unregulated.
StrongGlobeGain broker reviewE4An archived 2016 version of the same website claimed 'Australia ASIC #379035; Russian FFMS #1220; Bulgaria FSC ...; FSPR (FSP328066) in New Zealand'. The Russian FFMS had been abolished in 2013, making that claim impossible.
E5An independent review body documented that Paramount Markets Limited is the rebrand of the Dubai firm Paramount FZ LLE, and found both to be unregulated, with the Saint Lucia entity described as a scam.
E6The firm lists a Business Bay, Dubai office and solicits UAE and international clients, but its name does not appear in the UAE financial regulators' registers, so it is not authorised there.
ModerateBrokersView broker recordE7Review sources report withdrawal difficulties, unresponsive support and misleading promotions, and characterise the operation as high risk and a scam.
ModerateReportScam broker reviewE8Wayback snapshots confirm fx-paramount.com has operated as the 'Paramount' forex brand continuously from 2016 to 2026, supporting the continuity between Paramount FZ LLE and Paramount Markets Limited.
ModerateInternet Archive snapshot index
The other side
The strongest case in this broker’s favour.
In fairness, here is the strongest case for the broker.
- The website and 'Paramount' brand genuinely date back to 2016, so this is not an overnight, throwaway operation.
- The current site does not falsely claim a top tier regulator; it openly names only a Saint Lucia registration, which is more honest than a fabricated FCA or ASIC badge.
- Some of the strongly negative language comes from review aggregators, and competitors do plant complaints, so a portion of the reputation noise should be discounted.
- It advertises an industry award (Best Emerging Broker 2024, Forex Expo Dubai), which suggests some real market presence.
None of this changes the core problem: there is no genuine licence protecting client money, and the operator has a documented pattern of overstating its regulatory status.
What would change this
What we would need to see to revise the verdict.
Our view would improve if any of the following could be shown.
- A genuine, in force licence from a recognised financial regulator (for example a real ASIC, CySEC, FSCA or comparable authorisation) that names this exact entity and website on the regulator's own register.
- Evidence that Saint Lucia registration R026 is in fact a supervised financial licence rather than a company registration, published on an official register.
- A consistent record of clients withdrawing funds without the extra fees, delays or refusals currently reported.
- Proof that today's operation is genuinely severed from the 'Paramount FZ LLE' history, with different ownership and no shared infrastructure.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Broker website (Paramount Markets)
The operator's own site, where the R026 registration is presented as a licence.
Paramount Markets, archived homepage (Jan 2026)
Saved copy showing the current Saint Lucia registration claim.
FxParamount, archived homepage (2016)
Earlier version of the same site claiming ASIC and other licences.
Frequently asked questions
Quick answers about this broker’s safety.
Is Paramount Markets a scam?
We rate it Likely Scam. It is unlicensed, it advertises a Saint Lucia company registration as if it were a trading licence, and it has a documented history of false regulatory claims and withdrawal complaints. We advise against depositing.
Is Paramount Markets regulated?
No. It cites Saint Lucia 'License Number R026', but Saint Lucia does not license or supervise forex brokers. That number is a company registration, not financial regulation. No recognised regulator authorises this firm.
Can I withdraw my money from Paramount Markets?
Several independent review sources report withdrawal delays, refusals and unresponsive support. Because the firm is unregulated, there is no authority that can force it to pay you back.
Is my money safe with Paramount Markets?
No. There is no licence, no client fund segregation we could confirm and no compensation scheme. If the firm keeps your money, you have very limited recourse.
Who owns Paramount Markets?
The contracting entity is Paramount Markets Limited, registered in Saint Lucia (registration 2023-00643). It was previously operated as Paramount FZ LLE in Dubai and rebranded in 2024.
How old is Paramount Markets?
The website has existed since 2016 and the brand claimed 'since 2014', but the current Saint Lucia company was only registered in 2023. The money-holding entity is young even though the domain is older.
What is the R026 Saint Lucia licence worth?
Effectively nothing as regulation. Saint Lucia does not run a forex regulatory regime, so R026 is a company registration number. It gives clients no supervisory protection.
Did Paramount Markets ever claim other licences?
Yes. An archived 2016 version of the site claimed Australian ASIC, Russian, Bulgarian and New Zealand credentials. The Russian regulator named had already been abolished in 2013, so that claim was false.
Is Paramount Markets the same as Paramount FZ LLE?
Yes. Independent reviewers documented that Paramount Markets Limited is the rebrand of Paramount FZ LLE, using the same fx-paramount.com website. A rename does not clear the earlier unregulated history.
Was Paramount Markets banned in any country?
Some sources report it was blacklisted by Russian authorities. We could not confirm that on a primary regulator page, so we treat it as an open point rather than a proven fact.
What should I check before depositing with any broker?
Confirm the licence number directly on the regulator's own register, check that the website and legal entity match that record, and search for withdrawal complaints. If the only credential is an offshore registration, treat the broker as unregulated.
What do I do if I was scammed by Paramount Markets?
Stop depositing, request a written withdrawal, and gather all records. Contact your bank about a chargeback or recall, and report the case to your national financial regulator and police. Be wary of 'recovery' services that ask for upfront fees.
What we recommend
The practical takeaway from everything above.
Treat this broker as high risk and unregulated.
- Do not deposit new funds. There is no regulator or compensation scheme standing behind your money.
- If you already have a balance, request a full withdrawal in writing and keep records of every ticket and reply.
- If a withdrawal is refused or you are asked to pay a 'tax' or 'fee' to release funds, stop paying and preserve all evidence.
- If you deposited by card or bank transfer, ask your bank about a chargeback or recall, and report the case to your local financial regulator and police.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed August 12, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.