Overview of RIMarkets
The offshore Marshall Islands-based foreign exchange brokerage provider RIMarkets have three different trading accounts. The required initial investments for these three accounts are not shared by the broker. However, higher leverages and wide spreads are provided on these three accounts. Read full RIMarkets review here. The broker RIMarkets offers CFDs over assets like fx pairs, crypto coins, commodities, indices and stocks. In case if any of our followers are tempted to open an account with it for trading then it is must to read this RIMarkets review first. It will give a clear insight into this broker.
The offered three distinctive trading account types are Silver, Gold, and Platinum. On these three accounts leverages of 1:200, 1:400, and 1:500 also spreads around 3 pips, 2.5 pips, 2 pips respectively are offered. Unfortunately, the broker does not give any hint of required initial investment until registered with it. The possible advantages of RIMarkets are shown below. The broker offers a variety of crypto coins and forex pairs including exotic ones. Also, spot metals, agri products, every and gas are included. We have mentioned provided leverages above they are considered attractive. However, traders are advised to be careful while trading with them as they can bring huge losses. All the offerings by RIMarkets are facilitated on world-famous MetaTrader trading terminal. It is a widely used trading terminal in the world. To cater Islamic traders the broker has made arrangements to provide swap free trading accounts.
The disadvantages of RIMarkets are plenty and are as follows. FCorp Services LTD a company based on the Marshall Islands manages the brand RIMarkets. The Marshall Islands is such a territory that does not fall under laws and regulations of any financial authority. It means the broker we are talking about is unregulated. The broker misleads its clients by providing false information on its official website. As said before the official presentation also lacks needed initial investments and it is a big red flag. The broker has all the payment options but does not support deposition or withdrawals with electronic wallets.
Is RIMarkets scam or legit?
The broker operates from the Marshall Islands an unregulated country. The trading environment is falsely advertised and required initial investment is not shared. Also, provided leverages are outlined in the regulated markets. Therefore, RIMarkets is a potential scam broker 2020.