The broker RevoTrade specializes in automated trading and social trading. It also claims to be properly regulated, brokerage provider in the world. The trading assets consist of more than 60 crypto coins, many indexes, commodities, metals like Silver, Gold, Platinum etc, shares, bonds, and futures. The provided trading accounts are three in number. The leverages of high level and two variations of the MetaTrader platform are provided. However, the broker RevoTrade is not regulated and blacklisted by many financial regulators. That’s why we want our readers to follow this RevoTrade review, for detailed knowledge.
The broker RevoTrade is based in the overseas territory of Saint Vincent and the Grenadines. The local government claims not to provide regulation, monetisation, supervision or license to any of the broker operational in its jurisdiction. That means the brokers operating from SVG are not regulated and can be a scam broker. It also claims to have obtained brokerage licensing from Australian regulator ASIC. However, this claim of RevoTrade is not true. Traders money are not safe with RevoTrade. The basic account named Micro requires only $100 to start trading. Nevertheless, this amount is big considering brokers unregulated nature. The trading conditions like leverages and spreads are high. Leverages of 1:500 and spreads of 1.9 pips on EURUSD can be seen. However, these are designed to lure the clients and once clients deposit fund they cannot be recovered. The only possible benefit we see about RevoTrade is provided trading platform. The broker claims to provide both the variants of MetaTrader viz MetaTrader 4 and MetaTrader 5. These are on the top in every trader’s list. It’s makes trading seamless and has different useful features like Expert Advice, Auto Trading, Chartings, Market Indicators, Multi-Account Management facility are few to name. The payment options available at RevoTrade are quite many. It includes bitcoins, master and visa cards, and bank wire. These are fairly good but cash back at these payment providers is not feasible and takes a longer time to recovery. The broker can be found in the blacklist of several financial regulators from Europe as it targets that market. The financial regulators that have blacklisted RevoTrade are FSMA, CNMV, and CONSOB.
Is RevoTrade scam or legit?
The broker is highly suspicious on the ground of its regulation claims. It is blacklisted by many Financial Regulators. Trading condition is highly poor. All this makes us believe that the broker is a potential scam broker 2020.